Psychotic Disorders - Ghana | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$6.81m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.70%, resulting in a market volume of US$7.05m 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$25.42 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 Ghana is experiencing significant growth and development due to several factors.

Customer preferences: Customers in Ghana are increasingly seeking effective treatments for psychotic disorders, such as schizophrenia and bipolar disorder. They are looking for medications that can alleviate symptoms and improve their quality of life. Additionally, there is a growing demand for holistic approaches to treatment, including psychotherapy and support services.

Trends in the market: One of the key trends in the Psychotic Disorders market in Ghana is the increasing availability of antipsychotic medications. Pharmaceutical companies are expanding their product portfolios to include a wide range of medications that target different symptoms and have fewer side effects. This trend is driven by the growing understanding of the underlying neurobiology of psychotic disorders and the need for personalized treatment options.Another trend in the market is the integration of technology in the delivery of mental health services. Telemedicine and mobile health applications are being used to provide remote consultations, monitor medication adherence, and offer support to patients. This trend is particularly beneficial in Ghana, where access to mental health services in rural areas is limited.

Local special circumstances: Ghana faces unique challenges in addressing the needs of individuals with psychotic disorders. There is a shortage of mental health professionals, including psychiatrists and psychologists, which limits the availability of specialized care. Additionally, there is a stigma associated with mental illness, leading to underreporting and delayed treatment-seeking behavior.

Underlying macroeconomic factors: The development of the Psychotic Disorders market in Ghana is influenced by several macroeconomic factors. The country's growing economy has led to an increase in disposable income, allowing individuals to afford the cost of medications and treatment. Additionally, the government has recognized the importance of mental health and has implemented policies to improve access to care and reduce stigma.In conclusion, the Psychotic Disorders market in Ghana is experiencing growth and development due to increasing customer preferences for effective treatments, the availability of a wider range of medications, the integration of technology in mental health services, and the unique local circumstances and macroeconomic factors.

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.