Psychotic Disorders - India | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$187.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.42%, resulting in a market volume of US$191.50m 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$20.01 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 India is experiencing significant growth and development, driven by various factors including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Psychotic Disorders market in India are shifting towards more accessible and affordable treatment options. With an increasing awareness about mental health and the importance of early intervention, customers are seeking out therapies and medications that are effective and easily accessible. This has led to a rise in demand for antipsychotic medications and psychological therapies that can be easily accessed through clinics, hospitals, and online platforms.Trends in the market indicate a growing emphasis on holistic approaches to treating Psychotic Disorders in India. Traditional Indian medicine systems such as Ayurveda and Yoga are being integrated with modern psychiatric treatments to provide a comprehensive approach to mental health. This trend is driven by the belief that a combination of conventional medicine and alternative therapies can lead to better outcomes for patients. As a result, there is an increasing demand for Ayurvedic medicines, yoga therapy, and meditation techniques in the treatment of Psychotic Disorders.Local special circumstances in India also contribute to the development of the Psychotic Disorders market. India has a large population with a high prevalence of mental health disorders, including Psychotic Disorders. This creates a significant demand for psychiatric services and treatments. However, there is a shortage of mental healthcare professionals in the country, leading to long waiting times and limited access to quality care. This has prompted the development of innovative solutions such as telepsychiatry, where patients can receive consultations and therapy sessions remotely, bridging the gap between supply and demand.Underlying macroeconomic factors also play a role in the development of the Psychotic Disorders market in India. The country's rapid economic growth has led to an increase in disposable income and improved healthcare infrastructure. This has resulted in a greater ability and willingness to spend on mental healthcare services and treatments. Additionally, the government has recognized the importance of mental health and has taken steps to improve access to care and reduce the stigma associated with mental illnesses. These factors have created a conducive environment for the growth of the Psychotic Disorders market in India.In conclusion, the Psychotic Disorders market in India is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards more accessible and holistic treatments, the high prevalence of mental health disorders, the shortage of mental healthcare professionals, and the country's rapid economic growth are all contributing to the expansion of the market. As the demand for mental healthcare services continues to rise, it is expected that the Psychotic Disorders market in India will continue to grow in the coming years.

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.