The demand for psychotic disorder drugs and equipments witnessed a slowdown globally in 2020 due to stringent regulations imposed in Covid-19 pandemic. World Health Organisation on 10 October, 2020 declared that Covid-19 halted critical mental health services by 93%through a survey of 130 countries while the need for mental health is increasing. As the condition is getting stabilized in 2021, the market players are focusing on recovering their position through continuous researches,innnovations and developments.
In 2021, growing consciousness to focus on mental health and stress-free life is contributing to push the market further with excellent developments in psychotic disorder treatment.
Psychotic disorders are of many types such as schizoaffective, schizophreniform, delusional, schizophrenia, shared psychotic disorder, substance-induced psychotic disorder etc. At present, cases of schizophrenia are rising throughout the world which continues to add immense progress to this market in 2021.
Psychotic drugs usually have side effects such as insomnia, vomiting, drowsiness, high addiction rate etc preventing the people to consume such drugs. Leading manufacturers in 2021 are researching to introduce drugs with less side effects.
Universal Health Services Corporation and Sanofi S.A. are among the market players which are constantly adding new range ofdrugs to this market for treating patients suffering from such disorders to strengthen the link between physical and behavioural health services using innovative strategies and collaborations.
In 2021, investments in strong R&D activities and delivering successful innovations by coming up with new and improved varieties of drugs, medical devices and equipments to meet the growing needs of mental disorders is on supreme focus of leading manufacturers.
For instance, Otsuka Pharmaceutical Limited announced its collaboration with Axcelead Drug Discovery Partners on 29th June, 2020. The collaboration aimed to conduct a joint drug discovery research in CNS indications that will utilize the Axcelead Hit-identified Target (A-HiT) project in the area of central nervous system diseases. The company also introduced a new long-lastinginjectable suspension called “Abilify Maintena” on 29th July, 2020 approved for the indication of bipolar disorder. The approved indication covers 300 mg and 400 mg vials for injection and 300 mg and 400 mg dual-chamber syringes. This drug is highly recommended for the treatment ofadult schizophreniaand adult bipolar I in 2021. These developments are improving the market presence ofOstuka Pharmaceutical throughout the world.
In addition to Ostuka Corporation, Novartis International AG acquired Cambridge and Massachusetts-based Cadent Therapeutics and its three clinical-stage drugs on 17th December, 2020 for $ 210 million up front and as much as $ 560 million in milestone payments. It has introduced two drugs called ‘CAD-9303’ and ‘CAD-1883’ to treat psychotic disorders among patients. Novartis has managed to remain more active in neuroscience than many of its big pharma peers in 2020 despite Covid-19 pandemic leading to achieve a dominant position in the market.
Burgeoning prevalence of lifestyle-related mental conditions coupled with the growing number of bipolar disorders has been necessitating the development of effective-psychotic disorder treatment. Surging number of patients suffering from bipolar disorders, depressive disorders, schizophrenia and other mental disorders are accelerating the traction for psychotic disorder treatment.
Growing awareness about the vital role of early prevention of mental disorders in minimizing the damage caused by these conditions has the potential to drive the psychotic disorder treatment market in the coming years. Moreover, easy availability of psychotic drugs in hospital pharmacies, drug stores, commerce, and retail pharmacies are fueling their sales. These factors are driving growth in the psychotic disorder treatment market.
The emergence of atypical antipsychotic drugs in the psychotic disorder treatment market has transformed the scenario of mental disorders. Consequently, individuals with mental disorders no longer needed to be physically bound and could be managed with drug treatment and medication.
The global psychotic disorder treatment market is anticipated to be driven by growing cases of mental disturbances, such as depression, trauma, and stress. Furthermore, growing inventions of the molecules and increasing healthcare and medical investment in the R&D of metal disorders are favoring growth of psychotic disorder market.
The World Health Organization (WHO) estimates that more than 21 million people worldwide suffered from schizophrenia in 2016, and stated that one in two people with this condition don’t receive appropriate psychotic disorder treatment. This is further creating an opportunity for the stakeholders in the psychotic disorder treatment market to develop cost-effective medications to extend their reach to a wider target base.
Psychotic Disorder Treatment Market: Snapshot
Treatment strategies for managing patients with psychotic disorders are multi-faceted. Over the past couple of decades, doctors have been exploring the effectiveness of various therapies for psychotic disorders, particularly for schizophrenia. While strategies on medications have had substantial impacts on treating the symptoms in patients, there lurks significant risk of relapse, especially in case of acute psychotic episodes. In recent times, this has been driving considerable deal of research in nonpharmacologic treatment approaches opening a new avenue in the global psychotic disorder treatment market. These approaches have gained significance of late as they help in boosting medication compliance in patients.
A successful psychotherapy appears promising for managing the patients and may help them adapt to real world faster. Thus, recent studies on cognitive therapy as an adjunct to medication for patients with psychotic disorders augur well for the market expansion. Psychoeducation is another area that merits attention among researchers. This is especially crucial for treating the recurrent episodes of hallucinations and delusions characterized in disorders that may persist life-long. Recent studies seek to shed light on cognitive models of psychotherapy in this regard. Clinicians have been harping on multilevel approach to assess the effectiveness of patient-directed psychoeducation. This is expected to open a new paradigm in the evolution of the psychotic disorder treatment market.
Psychotic disorders are mental disorders in which a person’s personality is affected severely due to brain damage. When a psychotic episode happens, a person becomes uncertain about reality and usually experiences delusions, hallucinations, off-the-wall behavior, incoherency and chaotic speech. Psychotic disorders generally shows two main symptoms that are hallucinations and delusions. Hallucinations are wrong perceptions, such as seeing, hearing or feeling something that is not present. Delusions are wrong beliefs, involving real-life conditions that could not be true, such as having a disease. Depending on the causes, psychotic disorder can come slowly or quickly. Psychosis is not a permanent state rather it can be cured. The exact cause of psychotic disorder is unclear but psychosis is usually results from brain abnormalities. Psychotic disorder can also be associated with dementia, stroke, schizophrenia, brain tumors, bipolar disorders, heavy use and adverse effect to alcohol or drugs. Medication plays an important role in the treatment of psychotic disorder. Highly-effective treatments are available to treat psychotic disorder which includes antipsychotic medication, cognitive behavioral therapy, supportive psychotherapy and case management.
Psychotic Disorder Treatment Market: Drivers and Restraints
The global psychotic disorder treatment market is anticipated to register a significant CAGR over a forecast period. The increasing research and development activities for the new drugs and new combinations of drugs to minimize the adverse effects of the antipsychotics drugs and increase safety and efficacy of the drug is anticipated to boost the demand for the psychotic disorder drugs and drives the global psychotic disorder treatment market. Increasing the number of prevalence of severe psychotic disorder is likely to fuel the growth of global psychotic disorder treatment market. The rising in the awareness among people is also anticipated to drives the global psychotic disorder treatment market.
However, the possible side effects of the antipsychotics drugs may hamper the demand for the psychotic disorder treatment and restrain the growth of the global psychotic disorder treatment market. Lack of specific drugs and methods is a significant challenge to ensure the treatment is another factor that hinder the demand for the psychotic disorder treatment and restrain the growth of global psychotic disorder treatment market.
Psychotic Disorder Treatment Market: Segmentation
The global Psychotic disorder treatment market is segmented on the basis of drug type, indication and distribution channel:
- On the basis of drug type, the global psychotic disorder treatment market is segmented into:
- Atypical antipsychotics
- Phenothiazine antipsychotics
- Miscellaneous antipsychotics agents
- On the basis of indication, the global psychotic disorder treatment market is segmented into:
- Bipolar disorder
- Delusional disorder
- Drug induced psychosis
- Organic psychosis
- On the basis of distribution channel, the global psychotic disorder treatment market is segmented into:
- Hospital pharmacies
- Retail pharmacies
- Drug store
Psychotic Disorder Treatment Market: Regional Outlook
On the basis of regional presence, the global psychotic disorder treatment market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, and Middle East & Africa. Currently, North America is contributing the leading shares to the global psychotic disorder treatment market in terms of value due to increase in the number of prevalence of severe psychotic disorder among people and is anticipated to register a significant CAGR over a forecast period. APEJ is also contributing moderate shares to the market and is expected to show a robust growth to the global psychotic disorder treatment market. Europe is also most lucrative market for the psychotic disorder treatment market. MEA is at a nascent stage to the global psychotic disorder treatment market and anticipated to register a decent growth to the market over a forecast period. Overall, the global psychotic disorder treatment market is expected to show significant growth over a forecast period.
Psychotic Disorder Treatment Market: Key Players
Some of the major market players in psychotic disorder treatment market globally includes: Teva Pharmaceutical Industries Ltd, Sanofi S.A., Allergan, Plc, Pfizer Inc, Novartis International AG, Merck & Co., Inc., Johnson & Johnson Services, Inc., Amgen Inc., F. Hoffmann-La Roche Ltd, Mylan N.V. and others. These companies are highly focused on the development of advanced Psychotic disorder treatment devices further contributing to the growth of psychotic disorder treatment globally.
The report covers exhaustive analysis on:
- Psychotic disorder treatment market segments
- Psychotic disorder treatment market dynamics
- Historical actual market size, 2012 - 2016
- Psychotic disorder treatment market size & forecast 2017 to 2027
- Psychotic disorder treatment current trends/issues/challenges
- Competition & companies involved
- Psychotic disorder treatment market drivers and restraints
Regional analysis includes
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa
- Shifting industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size recent industry trends
- Key competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
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