Psychotic Disorders - North America

North America

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 in the United States (US$2,257.00m in 2024).
In relation to total population figures, per person revenues of US$0.43k are generated in 2024.

Key regions: Japan, Australia, Europe, India, France

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Analyst Opinion

The Psychotic Disorders market in North America is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in North America are increasingly seeking effective treatments for psychotic disorders, such as schizophrenia and bipolar disorder. They are looking for medications that can effectively manage their symptoms and improve their quality of life. Additionally, there is a growing demand for personalized and targeted therapies that can address the specific needs of individual patients. Patients are also becoming more informed about their treatment options and are actively participating in their healthcare decisions.

Trends in the market: One of the major trends in the Psychotic Disorders market in North America is the increasing use of atypical antipsychotic medications. These medications have gained popularity due to their ability to effectively manage symptoms with fewer side effects compared to traditional antipsychotics. The market is also witnessing a rise in the development of novel therapeutics that target specific pathways and receptors involved in psychotic disorders. This includes the development of new drugs that target glutamate receptors, which have shown promise in clinical trials.Another trend in the market is the growing adoption of digital health technologies for the management of psychotic disorders. Mobile applications, wearable devices, and online platforms are being used to monitor symptoms, provide psychoeducation, and facilitate communication between patients and healthcare providers. These technologies have the potential to improve treatment adherence, enhance patient engagement, and enable remote monitoring, especially in rural areas where access to specialized care may be limited.

Local special circumstances: North America has a well-established healthcare infrastructure and a high level of healthcare spending. This enables patients to access a wide range of treatment options and specialized care. The region also has a strong pharmaceutical industry and a robust research and development ecosystem, which promotes innovation and the development of new therapies. Additionally, there is a growing focus on mental health awareness and advocacy, leading to increased funding for research and improved access to mental healthcare services.

Underlying macroeconomic factors: The growth of the Psychotic Disorders market in North America is also influenced by several macroeconomic factors. These include the aging population, as psychotic disorders are more prevalent among older adults. The increasing prevalence of mental health conditions, such as depression and anxiety, is also contributing to the demand for treatments for psychotic disorders. Furthermore, the availability of health insurance coverage and government initiatives to improve mental healthcare access are driving market growth.In conclusion, the Psychotic Disorders market in North America is experiencing significant growth and development due to customer preferences for effective treatments, the adoption of atypical antipsychotics, the use of digital health technologies, and the region's strong healthcare infrastructure. The market is also influenced by local special circumstances, such as the focus on mental health awareness and advocacy, and underlying macroeconomic factors, including the aging population and the increasing prevalence of mental health conditions.

Methodology

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.