Fact.MR, a global research firm, in its latest study on the global psychotic disorder treatment market is projected to record a notable CAGR in 2021 & beyond. The growth is projected to be fuelled by increasing cases of mental disturbances, such as stress, trauma, and depression. Additionally, increasing inventions of the molecules and growing medical and healthcare investment in the research & development of metal disorders are favouring expansion of psychotic disorder treatment industry.
The demand for psychotic disorder drugs and equipment’s 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, innovations and developments.
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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
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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: 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 US will continue to Reflect Lucrative Growth Prospects
The US is contributing majority of shares to the in value terms owing to rise in the number of occurrence of severe psychotic disorder amid people and will record a notable CAGR in 2021 & beyond.
China & India are also contributing moderate shares and will reflect a robust growth pace for psychotic disorder treatment.
The UK is projected to be the most lucrative region. On the other hand, UAE, Turkey, Kenya along with other regions is still at a nascent stage and is anticipated to record a decent expansion in the forthcoming years.
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