Psychotic Disorders - NAFTA | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$2.59bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.23%, resulting in a market volume of US$2.56bn 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$425.10 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 NAFTA is experiencing significant growth due to several key factors. Customer preferences for innovative treatment options, increasing prevalence of psychotic disorders, and the presence of local special circumstances are driving the market forward. Additionally, underlying macroeconomic factors such as favorable government regulations and increased healthcare spending are contributing to the market's development.

Customer preferences: Customers in the NAFTA region are increasingly seeking innovative treatment options for psychotic disorders. They are looking for therapies that not only effectively manage symptoms but also have minimal side effects. As a result, pharmaceutical companies are investing in research and development to create new and improved medications. This focus on innovation is driving the growth of the market, as customers are willing to pay a premium for these advanced treatments.

Trends in the market: One of the key trends in the Psychotic Disorders market in NAFTA is the increasing prevalence of these disorders. The region is witnessing a rise in the number of individuals diagnosed with psychotic disorders, including schizophrenia and bipolar disorder. This trend can be attributed to various factors such as changing lifestyles, increased stress levels, and genetic predisposition. As the prevalence of these disorders continues to grow, the demand for effective treatments is also increasing, thereby driving market growth.

Local special circumstances: The NAFTA region consists of three countries - the United States, Canada, and Mexico - each with its own unique circumstances. In the United States, for example, there is a high level of awareness and understanding of mental health issues, leading to increased diagnosis and treatment rates for psychotic disorders. Canada, on the other hand, has a publicly funded healthcare system that provides access to treatment for a larger portion of the population. In Mexico, there is a growing recognition of the need for improved mental healthcare services, which is driving the demand for treatments for psychotic disorders. These local special circumstances are contributing to the growth of the market in each country.

Underlying macroeconomic factors: The Psychotic Disorders market in NAFTA is also influenced by underlying macroeconomic factors. Favorable government regulations, such as the Affordable Care Act in the United States, have increased access to healthcare services, including treatments for psychotic disorders. This has resulted in higher demand for these treatments. Additionally, increased healthcare spending in the region has allowed for greater investment in research and development, leading to the development of new and improved therapies. These factors, combined with the growing prevalence of psychotic disorders, are driving the market's expansion.In conclusion, the Psychotic Disorders market in NAFTA is experiencing significant growth due to customer preferences for innovative treatment options, increasing prevalence of these disorders, local special circumstances in each country, and underlying macroeconomic factors. As the market continues to develop, pharmaceutical companies will need to focus on meeting customer demands for effective and well-tolerated treatments, while also considering the unique circumstances of each country in the region.

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.