Psychotic Disorders - LATAM | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$513.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -2.07%, resulting in a market volume of US$462.60m 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$60.94 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 LATAM is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in LATAM are increasingly seeking treatment for psychotic disorders, leading to a growing demand for medications and therapies. The stigma surrounding mental health is gradually decreasing, and individuals are becoming more open to seeking help for their conditions. Additionally, the rising awareness about the importance of mental well-being and the availability of better healthcare facilities are also driving the demand for psychotic disorder treatments in the region.

Trends in the market: One of the major trends in the Psychotic Disorders market in LATAM is the increasing adoption of antipsychotic medications. These medications are widely prescribed by healthcare professionals to manage symptoms associated with psychotic disorders. The market is witnessing the introduction of new and innovative antipsychotic drugs, which are more effective and have fewer side effects. This trend is driving the growth of the market as patients and healthcare providers are seeking more advanced treatment options.Another trend in the market is the integration of technology in the treatment of psychotic disorders. Telemedicine and digital health platforms are being used to provide remote consultations and support to patients. This allows individuals in remote areas to access healthcare services easily and receive timely treatment. Additionally, mobile applications and online resources are being developed to provide information and support to patients and their families, further enhancing the overall treatment experience.

Local special circumstances: LATAM is a diverse region with unique cultural and social factors that influence the Psychotic Disorders market. In some countries, there is a lack of awareness and understanding about mental health, which can lead to delays in seeking treatment. However, efforts are being made to address this issue by implementing awareness campaigns and educational programs. Additionally, the availability of healthcare infrastructure and resources varies across countries, which can impact the accessibility and quality of treatment for psychotic disorders.

Underlying macroeconomic factors: The economic growth and increasing disposable income in LATAM countries are contributing to the development of the Psychotic Disorders market. As individuals have more financial resources, they are able to afford the cost of treatment and medication. Furthermore, the expansion of healthcare insurance coverage in some countries is also making treatment more affordable and accessible for a larger population.In conclusion, the Psychotic Disorders market in LATAM is experiencing growth and development driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As awareness about mental health increases and new treatment options become available, the market is expected to continue to expand 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.