Global Mental Disorders Drugs Market: Overview
A mental disorder can be explained as a
psychological anomaly that is reflected in patient’s behavior through
disability, distress, or any conduct that is not considered as normal
mental development. The causes of mental disorders are very diverse and
often unclear in most cases. However, some of the commonly addressed
drug classes for the treatment of mental disorders are anxiolytics,
antidepressants, and antipsychotics. Some of the common mental disorders
affecting millions around the world are depression, schizophrenia, and
intellectual disabilities and disorders due to drug abuse.
Report Overview @ https://www.transparencymarketresearch.com/mental-disorders-drugs.html
The most common factor aiding the
expansion of the global mental disorders drugs market is the rising
incidence of mental disorders. For instance, as per the WHO’s reviewed
fact sheet, as of 2016 over 350 million people worldwide are affected by
depression, over 60 million people are diagnosed with bipolar disorder,
and almost 21 million people around the world have schizophrenia and
other psychoses. The incidence is rising and there is less likely for it
to subside anytime soon. Governments around the world are thus focusing
on development effective treatment and drugs to eliminate the
prevalence of mental disorders.
Considering the scenario, the global
mental disorders market is poised to surge at an exponential pace
between 2016 and 2024. In the report, TMR provides a granular analysis
of the various factors supporting the market’s growth and lists down the
restraints threatening its expansion. Using Porter’s five forces, the
report gauges the bargaining power of suppliers and buyers, degree of
competition prevailing in the market, and threat of product substitutes
and new entrants. The effect of government policies on the market is
analyzed in detail.
Besides these, the report also studies
the regional market for mental disorders drugs across North America,
Europe, Asia Pacific, and Rest of the World. Factors influencing the
market’s growth across these regional segments are studied in detail. In
addition, the global mental disorders drugs market has been segmented
based on various parameters to help the market participants identify the
most lucrative areas in the market. Compiled with exhaustive
information, the report thus provides a holistic overview of the global
mental disorders market.
Global Mental Disorders Drugs Market: Trends and Opportunities
Factors such as improvement in patient
security policies, increasing prevalence of mental disorders, growth in
domestic and international investment in research and development on
mental medication, and increasing awareness about these conditions are
aiding the growth of the global mental disorders market.
Overall, the market has been witnessing
lucrative prospects, however, skepticism surrounding the social pressure
and stigma often attached with mental disorders and their treatment
could restraint the market to an extent. The situation is more critical
in case of less developed countries, where medical advancements are yet
to penetrate into. Furthermore, inadequate government initiatives could
create bottleneck for the market in underdeveloped countries, despite
the high prevalence of unmet medical needs.
Nevertheless, rising government spending
in the healthcare sector, especially across emerging economies such as
India and China, increasing medical tourism in these nations due to the
availability of advanced treatments at affordable price, and supportive
reimbursement policies will help the expansion of mental disorders drugs
market over the course of the forecast period. Besides this, the market
is also expected to gain from the launch of novel therapeutics.
Overall, the global mental disorders
drugs market can be segmented into antipsychotics, antidepressants,
anxiolytics, drugs for adolescent and childhood mental illness,
schizophrenia, drugs for the treatment of addiction, and bipolar disease
drugs. The report studies in detail the recent developments supporting
the market’s growth across these segments.
Global Mental Disorders Drugs Market: Regional Outlook
Regionally, North America dominates the
global mental drugs disorders market. The increasing government
initiatives, high awareness about mental disorders and available
treatments, and better reimbursement policies are supporting growth of
the market in North America. In addition, the market is expected to
witness lucrative opportunities in Asia Pacific. The expanding
healthcare industry and favorable initiatives supporting the growth will
help market participants rake high profits in the region.
Global Mental Disorders Drugs Market: Vendor Landscape
The report includes a detailed assessment
of the vendor landscape, to study the competition prevailing in the
global mental disorders market. Some of the companies profiled are
Johnson and Johnson, Pfizer, Eli Lilly, GlaxoSmithKline, AstraZeneca,
and Bristol-Myers Squibb. Using SWOT analysis, the report studies the
strengths and weaknesses of the companies profiled. The analysis also
provides insights into the threats and opportunities that the companies
will witness over the course of the forecast period.
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