Psychotic Disorders - Senegal | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$4.23m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.76%, resulting in a market volume of US$4.62m 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$29.79 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 Senegal is experiencing significant growth and development.

Customer preferences: Senegal has seen a rise in the demand for treatments and therapies related to psychotic disorders. This can be attributed to several factors, including increased awareness and understanding of mental health issues, improved access to healthcare services, and a growing acceptance of seeking help for mental health concerns. Additionally, there is a shift towards more personalized and holistic approaches to treatment, with customers seeking a combination of medication, therapy, and lifestyle changes to manage their condition.

Trends in the market: One key trend in the Psychotic Disorders market in Senegal is the adoption of innovative treatment options. This includes the use of new medications with improved efficacy and fewer side effects, as well as the integration of technology in mental health care. Telemedicine and digital platforms are becoming increasingly popular, allowing patients to access therapy and support remotely, which is particularly important in a country with limited mental health resources. Another trend is the emphasis on community-based care and support networks, with a focus on reducing stigma and promoting inclusivity for individuals with psychotic disorders.

Local special circumstances: Senegal faces unique challenges in addressing the needs of the Psychotic Disorders market. Limited healthcare infrastructure and resources, particularly in rural areas, can hinder access to diagnosis and treatment. Additionally, cultural beliefs and stigma surrounding mental health can prevent individuals from seeking help or disclosing their condition. Efforts are being made to address these challenges, including the expansion of mental health services and awareness campaigns to reduce stigma and promote early intervention.

Underlying macroeconomic factors: The development of the Psychotic Disorders market in Senegal is influenced by several macroeconomic factors. Economic growth and rising disposable incomes have increased the affordability of mental health treatments and services. Government initiatives and policies aimed at improving mental health care have also played a role in driving market growth. Additionally, international collaborations and partnerships have facilitated knowledge exchange and the introduction of best practices in the field of mental health care. These factors, combined with the increasing recognition of the importance of mental health, have created a favorable environment for the development of the Psychotic Disorders market in Senegal.

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.