Global Mental Health Therapeutics Market to Expand as Incidence of Clinical Depression Rises
Mental health is a state of psychological well-being or an absence of any mental illness. It is a psychological level of an individual who functions properly at a satisfactory level of behavioral and emotional adjustment. Disturbance or imbalance in this mental state could give rise to mental illness or disorders. Mental illness can cause abnormal behavior and unusual thoughts and feelings for a certain period of time, which causes distress or emotional or physical impairment. Under the central nervous system therapeutics market, mental health segment accounted for the largest market share in 2016. It is expected to dominate the market in the next few years due to extensive research & development in the field and more therapeutic options for various mental diseases such as personality disorders and binge eating disorders.
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The demand within the global market for mental therapeutics has been rising on account of the rising cases of clinical depression, excessive anxiety, mood disorder, and multiple personality disorder. Lack of mental health is characterized by inconsistent emotional or behavioural tendencies as a result of imbalanced or disturbed mental states. Mental health is a serious global issue, and the probability of its occurrence is quite high in healthy and seemingly normal human beings. Owing to the aforementioned reasons, the demand within the global market for mental health therapeutics is projected to take a leap in the forthcoming years.
The global mental health therapeutics markets can be segmented based on type, treatment, and region. In terms of disease type, the market can be categorized into anxiety disorders, mood disorders, substance abuse disorders, and others (insomnia, binge eating disorder). Based on treatment, the market can be classified into somatic, psychotherapeutic, and others. Somatic treatments includes drug therapy, medication, complementary & alternative medicine, and electroconvulsive therapy. Psychotherapeutic treatments involve cognitive behavioral therapy (CBT), interpersonal therapy, group discussion or family support therapy, marital psychotherapy, peer support, hypnotherapy, and behavior therapy techniques. Research suggests that severe and complex mental health disorders require a combination of drugs and psychotherapy rather than a single method of treatment. Other types of therapies include hospitalization, case management, self-help plan, and art therapy.
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Need for Reforms in Mental Health Treatment Systems
The rising incidence of cases of clinical depression has led several healthcare organizations to have separate mental care cells within their premises. This has directly contributed towards the growth of the global market for mental health therapeutics. Furthermore, online awareness campaigns to inform and educate people about the importance of mental health have also been launched in recent times. The use of advertisements and creative films to emphasize on the reality of mental health issues has also led to a boisterous rate of growth within the global market for mental health therapeutics.
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North America to Lead other Regional Markets
The growth of the market for mental health therapeutics in North America has been tracing an ascending graph in recent times. This primarily owes to the rising cases of anxiety and stress amongst the masses in the US and Canada. Furthermore, the government in the US has taken key steps to enhance the domain of mental health treatments.
Key players involved in the global mental health therapeutics markets are Pfizer, Inc., Forest Laboratories, Eli Lilly and Company, AstraZeneca, Bristol-Myers Squibb Company, Wyeth, Teva Pharmaceutical Industries Ltd., and Biogen, Inc.
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