Psychotic Disorders - Vietnam | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$34.95m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.35%, resulting in a market volume of US$35.55m 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$51.64 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 Vietnam is experiencing significant growth and development due to several key factors. Customer preferences for mental health treatment have evolved, leading to increased demand for medications and therapies targeted at psychotic disorders. Additionally, there are local special circumstances in Vietnam that contribute to the growth of this market. Furthermore, underlying macroeconomic factors in the country have also played a role in shaping the development of the Psychotic Disorders market in Vietnam.

Customer preferences: In recent years, there has been a growing awareness and understanding of mental health issues in Vietnam. As a result, more individuals are seeking professional help and treatment for psychotic disorders. Customer preferences have shifted towards a more holistic approach to mental health, including a combination of medication and therapy. This has led to an increased demand for antipsychotic medications and psychological counseling services.

Trends in the market: One of the key trends in the Psychotic Disorders market in Vietnam is the introduction of new and innovative medications. Pharmaceutical companies are investing in research and development to create more effective and targeted treatments for psychotic disorders. These advancements in medication have improved patient outcomes and increased the overall demand for such products in the market.Another trend in the market is the integration of technology in mental health treatment. Digital therapeutics and telemedicine platforms are gaining popularity in Vietnam, allowing individuals to access mental health services remotely. This trend has been particularly beneficial in reaching individuals in rural areas who may have limited access to mental health professionals. The convenience and accessibility of these digital platforms have contributed to the growth of the Psychotic Disorders market in Vietnam.

Local special circumstances: Vietnam has a high prevalence of mental health disorders, including psychotic disorders. This is attributed to various factors such as rapid urbanization, changing lifestyles, and increasing stress levels. The government and healthcare organizations in Vietnam have recognized the importance of addressing mental health issues and have implemented initiatives to improve access to mental health services. This focus on mental health has created a favorable environment for the growth of the Psychotic Disorders market in Vietnam.

Underlying macroeconomic factors: The Vietnamese economy has been experiencing steady growth in recent years, leading to an increase in disposable income and healthcare spending. As a result, more individuals are able to afford mental health treatments and are willing to invest in their well-being. This has contributed to the growth of the Psychotic Disorders market in Vietnam as individuals have greater access to medications and therapies.In conclusion, the Psychotic Disorders market in Vietnam is developing due to evolving customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increased awareness and understanding of mental health, along with advancements in medication and technology, have driven the growth of this market. Additionally, the high prevalence of mental health disorders in Vietnam and the government's focus on improving access to mental health services have also played a significant role in shaping the development of the Psychotic Disorders market in the country.

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.