Psychotic Disorders - Taiwan

Taiwan

Revenue in the Psychotic Disorders market is projected to reach US$102.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.07%, resulting in a market volume of US$125.60m 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$0.79k are generated in 2024.

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

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Analyst Opinion

The Psychotic Disorders market in Taiwan is experiencing significant growth due to several factors.

Customer preferences: Customers in Taiwan are increasingly seeking effective treatments for psychotic disorders. They prioritize medications that have been proven to be safe and have minimal side effects. Additionally, they prefer treatments that can be easily accessed and administered, such as oral medications or long-acting injectables. Customers also value personalized care and support from healthcare professionals, including psychiatrists and psychologists.

Trends in the market: One of the key trends in the Psychotic Disorders market in Taiwan is the increasing use of atypical antipsychotic medications. These medications have become the preferred choice for treating psychotic disorders due to their efficacy and improved tolerability compared to older, typical antipsychotics. The market is also witnessing a growing demand for long-acting injectable formulations, which provide a convenient and effective treatment option for patients who have difficulty adhering to oral medications.Another trend in the market is the integration of digital technologies in the management of psychotic disorders. Mobile applications and online platforms are being used to provide remote monitoring, psychoeducation, and support to patients. These digital solutions enhance patient engagement and enable healthcare professionals to track treatment progress more effectively.

Local special circumstances: Taiwan has a well-developed healthcare system that provides universal coverage to its population. This ensures that individuals with psychotic disorders have access to necessary medications and treatments. The government has also implemented various initiatives to improve mental health services and reduce the stigma associated with mental illnesses. These efforts have contributed to increased awareness and early detection of psychotic disorders, leading to higher demand for treatments.

Underlying macroeconomic factors: Taiwan has a stable and growing economy, which has a positive impact on the Psychotic Disorders market. The country's high GDP per capita and low unemployment rate indicate a favorable economic environment that allows individuals to afford healthcare services and medications. The government's investment in healthcare infrastructure and research and development further supports the growth of the market.In conclusion, the Psychotic Disorders market in Taiwan is experiencing growth driven by customer preferences for safe and effective treatments, the increasing use of atypical antipsychotics and long-acting injectables, the integration of digital technologies, the country's well-developed healthcare system, and the favorable macroeconomic factors. These factors contribute to the expansion of the market and the improvement of mental health services in Taiwan.

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.