Psychotic Disorders - Georgia | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$230.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.52%, resulting in a market volume of US$236.70k by 2029.
In global comparison, most revenue will be generated United States (US$2.26bn in 2024).
In relation to total population figures, per person revenues of US$7.23 are generated in 2024.

Psychotic disorders are severe mental health disorders that cause changes in a person's way of thinking and their perception. Patients often have trouble differentiating between what they perceive and reality. Different types of psychotic disorders include schizophrenia, bipolar disorder, substance-induced psychotic disorder, delusional disorder, and brief psychotic disorder. However, this market only represents the sales of antipsychotic drugs that are used to treat schizophrenia and bipolar disorder.

Market values represent the revenues generated by manufacturers and are based on retail prices for each drug category including all drugs, regardless of whether they are reimbursed or not.

Company examples: Otsuka Pharmaceutical, Lundbeck, AbbVie, Allergan plc, Recordati S.p.A., Gadeon Richter, Sumitomo Pharma, Johnson & Johnson / Janssen, Vanda Pharmaceuticals, Alkermes, Eli Lilly, AstraZeneca, and Intra-Cellular Therapies

Antipsychotic drugs: Aripiprazole (Abilify), Asenapine (Saphris), Cariprazine (Vraylar), Clozapine (Clozaril, Versacloz), lumateperone (Caplyta), Lurasidone (Latuda), Olanzapine (Zyprexa), Quetiapine (Seroquel), Risperidone (Risperdal), Risperidone (Aristada), Ziprasidone (Geodon), Brexpiprazole (Rexulti), Iloperidone (Fanapt), and Paliperidone (Invega)

Psychotherapy
Talk therapy
Herbal medicines
Digital health apps
Deep Brain Stimulation (DBS)

The Psychotic Disorders market in Georgia is experiencing significant growth due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this development.Customer preferences play a crucial role in the growth of the Psychotic Disorders market in Georgia. With increasing awareness and understanding of mental health, there is a rising demand for effective treatments for psychotic disorders. Customers are seeking innovative and advanced therapies that can help manage their symptoms and improve their quality of life. As a result, pharmaceutical companies are investing in research and development to meet these customer demands and provide effective solutions.Trends in the market also contribute to the growth of the Psychotic Disorders market in Georgia. One notable trend is the increasing use of personalized medicine in the treatment of psychotic disorders. Personalized medicine allows healthcare professionals to tailor treatments to individual patients based on their genetic makeup, lifestyle, and other factors. This approach has shown promising results in improving patient outcomes and reducing side effects. As a result, healthcare providers in Georgia are adopting personalized medicine strategies, leading to increased demand for related products and services.Another trend in the market is the integration of technology in the management of psychotic disorders. Digital health solutions, such as mobile applications and wearable devices, are being developed to help patients monitor their symptoms, track medication adherence, and access support resources. These technological advancements provide convenience and empower patients to actively participate in their treatment. The adoption of digital health solutions is on the rise in Georgia, contributing to the growth of the Psychotic Disorders market.Local special circumstances also influence the development of the Psychotic Disorders market in Georgia. The country has a high prevalence of mental health disorders, including psychotic disorders. This presents a significant healthcare challenge and necessitates the availability of effective treatment options. The government and healthcare organizations in Georgia are actively working to improve mental healthcare services and increase access to treatments for psychotic disorders. This commitment to addressing mental health issues creates a favorable environment for the growth of the market.Underlying macroeconomic factors further contribute to the growth of the Psychotic Disorders market in Georgia. The country's stable economic growth and increasing healthcare expenditure provide a solid foundation for the development of the market. As the economy continues to grow, individuals have more disposable income to spend on healthcare, including treatments for psychotic disorders. Additionally, the government's focus on improving healthcare infrastructure and services creates opportunities for market growth.In conclusion, the Psychotic Disorders market in Georgia is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for effective treatments, the adoption of personalized medicine and technology, the high prevalence of mental health disorders, and the stable economic growth of the country all contribute to the development of the market. As the market continues to evolve, it is essential for pharmaceutical companies and healthcare providers to stay abreast of these trends and cater to the needs of customers in Georgia.

Data coverage:

Data encompasses B2C enterprises. Figures are based on companies' revenues, international institutes data, and global consumer survey data. Revenues refer to the retail value and include sales taxes.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports and third-party data. Next, we use relevant key market indicators and data from country-specific associations such as healthcare spending per capita, medical product spending per capita, and gross domestic product per capita. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function. Data is modeled using current exchange rates.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Despite what some may think, mental health problems are common in the United States and around the world. Mental health issues, much like other health issues, can be mild, but can also be life altering, affecting the emotional, social, and psychological well-being of the person. Common types of mental illness include mood disorders, anxiety disorders, eating disorders, and personality disorders. Although symptoms of mental illness differ depending on the type of illness and seriousness of the problem, common symptoms of mental health issues include changes in sleeping and eating habits, social withdrawal, feelings of hopelessness, anger, and prolonged sadness, suicidal thoughts, and substance abuse. In 2022, it was estimated that around 36 percent of those in the U.S. aged 18 to 25 years and 29 percent of those aged 26 to 49 years suffered from some form of mental illness in the past year.