Psychotic Disorders - Singapore | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$36.57m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.48%, resulting in a market volume of US$37.46m 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$530.00 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 Singapore is experiencing significant growth and development due to several key factors.

Customer preferences: In recent years, there has been a growing awareness and understanding of mental health issues in Singapore. As a result, there is an increasing demand for effective treatments and therapies for psychotic disorders. Customers are seeking innovative and evidence-based solutions that can help manage and alleviate symptoms of these disorders. Additionally, there is a preference for personalized and holistic approaches to treatment, which take into account the individual needs and circumstances of each patient.

Trends in the market: One of the major trends in the Psychotic Disorders market in Singapore is the adoption of digital health technologies. With the widespread use of smartphones and internet connectivity, there is a growing interest in mobile health applications and online platforms that provide mental health support. These digital solutions offer convenience, accessibility, and anonymity, which are particularly appealing to individuals seeking help for psychotic disorders. Furthermore, these technologies enable remote monitoring and tracking of symptoms, allowing for more personalized and proactive care.Another trend in the market is the emphasis on early intervention and prevention. There is a recognition that early detection and treatment of psychotic disorders can significantly improve outcomes and reduce the burden on individuals, families, and the healthcare system. As a result, there is a focus on implementing screening programs and providing early intervention services in schools, workplaces, and community settings. This proactive approach aims to identify individuals at risk and provide timely support and treatment to prevent the onset or progression of psychotic disorders.

Local special circumstances: Singapore has a well-developed healthcare system with a strong emphasis on mental health services. The government has implemented various initiatives and policies to improve access to mental healthcare and reduce the stigma associated with mental illnesses. There is a comprehensive network of public and private mental health facilities, including hospitals, clinics, and community-based services, that cater to the needs of individuals with psychotic disorders. This infrastructure provides a conducive environment for the growth and development of the Psychotic Disorders market in Singapore.

Underlying macroeconomic factors: Singapore has a high-income economy with a strong focus on research and innovation. The government invests heavily in healthcare research and development, which has led to the emergence of cutting-edge treatments and therapies for psychotic disorders. Additionally, Singapore is a regional hub for pharmaceutical and biotechnology companies, attracting investments and collaborations in the field of mental health. These factors contribute to the availability of a wide range of treatment options and advancements in the Psychotic Disorders market in Singapore.In conclusion, the Psychotic Disorders market in Singapore is experiencing growth and development driven by customer preferences for personalized and holistic treatments, the adoption of digital health technologies, the emphasis on early intervention and prevention, the well-developed healthcare system, and the underlying macroeconomic factors. These factors create a favorable environment for the market to expand and offer innovative solutions for individuals with psychotic disorders in Singapore.

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.