Psychotic Disorders - Namibia | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$2.38m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.22%, resulting in a market volume of US$2.24m 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$112.10 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 Namibia is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Namibia are increasingly seeking effective treatments for psychotic disorders, such as schizophrenia and bipolar disorder. They are looking for medications that can help manage their symptoms and improve their quality of life. Additionally, customers are becoming more aware of the importance of early diagnosis and intervention in psychotic disorders, leading to an increased demand for diagnostic tools and services.

Trends in the market: One major trend in the Psychotic Disorders market in Namibia is the growing availability and accessibility of mental health services. The government and various non-profit organizations have been working to improve mental health services in the country, including the establishment of specialized clinics and the training of healthcare professionals. This has led to an increase in the number of individuals seeking treatment for psychotic disorders, driving market growth.Another trend in the market is the development of innovative treatments for psychotic disorders. Pharmaceutical companies are investing in research and development to create new medications that are more effective and have fewer side effects. These advancements in treatment options are attracting customers and contributing to the growth of the market.

Local special circumstances: Namibia has a relatively high prevalence of mental health disorders, including psychotic disorders. This can be attributed to various factors, such as a history of trauma, poverty, and limited access to healthcare services. The government has recognized the importance of addressing mental health issues and has implemented policies to improve mental health services in the country. These efforts have created a favorable environment for the growth of the Psychotic Disorders market.

Underlying macroeconomic factors: Namibia's economy has been steadily growing in recent years, leading to an increase in disposable income and healthcare spending. As individuals have more financial resources, they are able to afford the costs associated with treating psychotic disorders, such as medication and therapy sessions. This has contributed to the growth of the market.Additionally, Namibia has a young and growing population, which increases the demand for healthcare services, including those related to mental health. The government has recognized the need to invest in the healthcare sector to meet the growing demand, further fueling the development of the Psychotic Disorders market.In conclusion, the Psychotic Disorders market in Namibia is experiencing growth and development due to increasing customer preferences for effective treatments, the availability of mental health services, the development of innovative treatments, local special circumstances, and underlying macroeconomic factors. This market is expected to continue growing as the government and healthcare sector work to improve mental health services and address the needs of individuals with psychotic disorders.

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.