Psychotic Disorders - Jamaica | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$2.76m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.56%, resulting in a market volume of US$2.55m 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$76.96 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 Jamaica is experiencing steady growth due to a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Jamaica, there is a growing awareness and acceptance of mental health issues, including psychotic disorders. This has led to an increased demand for diagnostic and treatment options for individuals suffering from these conditions. Customers are seeking effective and accessible solutions to manage their symptoms and improve their quality of life. They are also looking for personalized and holistic approaches to treatment that take into account their cultural and social backgrounds.

Trends in the market: One of the key trends in the Psychotic Disorders market in Jamaica is the shift towards community-based care. There is a growing recognition that providing support and treatment within the community can lead to better outcomes for individuals with psychotic disorders. This trend is driven by the desire to reduce the stigma associated with mental illness and improve accessibility to care. As a result, there is an increasing focus on developing community mental health centers and expanding the reach of mobile mental health services.Another trend in the market is the integration of technology in the diagnosis and treatment of psychotic disorders. Telemedicine and digital health solutions are being used to improve access to care, especially in rural areas where there may be limited resources. These technologies enable remote consultations, online therapy sessions, and the monitoring of symptoms and medication adherence. They also provide opportunities for data collection and analysis, which can help identify patterns and improve treatment outcomes.

Local special circumstances: Jamaica faces unique challenges in addressing the needs of individuals with psychotic disorders. The country has a high prevalence of substance abuse, which can exacerbate symptoms and complicate treatment. There is also a shortage of mental health professionals, particularly in rural areas. These factors contribute to the need for innovative approaches to care, such as community-based services and technology-enabled solutions.

Underlying macroeconomic factors: Jamaica's growing economy and increasing investment in healthcare infrastructure are contributing to the development of the Psychotic Disorders market. The government has recognized the importance of mental health and has made efforts to improve access to care and reduce stigma. This includes the implementation of policies and programs that promote mental health awareness, training for healthcare professionals, and the expansion of mental health services.Overall, the Psychotic Disorders market in Jamaica is experiencing growth due to customer preferences for effective and accessible care, trends towards community-based and technology-enabled solutions, local special circumstances such as high rates of substance abuse and a shortage of mental health professionals, and underlying macroeconomic factors including a growing economy and government investment in healthcare.

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.