Mental Health Therapeutics Market: Increasing demand for mental health services is expected to boost the market growth
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.
Read Report Overview - https://www.transparencymarketresearch.com/mental-health-therapeutics-market.html
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.
Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=32171
Major factors driving the growth of the mental health market include rising geriatric population, mental health reforms, government initiatives for improving mental health care services, and number of people seeking mental health support. On the other hand, low rate of adoption of mental health electronic health records (EHRs), data privacy concerns, and lack of psychiatrists and healthcare IT professionals are expected to restrain the growth of this market. The psychotherapeutic drug industry continues to struggle through conflicting issues that are directly or indirectly affecting competition. Some recent hurdles faced by competitors in the market include advertising restrictions, label changes, and negative perceptions about mental illness treatments; however, advancements in delivery techniques, education and awareness efforts, and effectiveness could boost market growth.
Request for Analysis of COVID-19 Impact on Mental Health Therapeutics Market- https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=32171
Geographically, the global mental health therapeutics market is divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Rest of the World. North America dominates the market with the U.S. accounting for a major market share. Nearly one in five (18.5%) Americans experiences mental health problems each year. In the U.S., in 2015, an estimated 9.8 million, which equated to nearly 4.8% of all adults (over 18 years of age) had serious mental disorders. Europe is considered as the second largest region in the psychotherapies market. Presence of multiple psychotherapy associations such as the United Kingdom Council for Psychotherapy, the British Psychoanalytic Council, and the British Association for Counselling and Psychotherapy drives the market growth. The market in Asia is expected to expand at the highest CAGR during the forecast period. This growth can be attributed to government initiatives, increasing demand for mental health services, and rising focus of major players on the markets such as India. Emerging markets such as India, China, and countries in the Middle East offer great opportunities for this market owing to changing lifestyle coupled with increasing psychological disease awareness among people.
Pre Book Mental Health Therapeutics Market Report - https://www.transparencymarketresearch.com/checkout.php?rep_id=32171<ype=S
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.
Browse More Trending Reports by Transparency Market Research:
Medical Vacuum Regulator Market: https://www.transparencymarketresearch.com/medical-vacuum-regulator-market.html
Unicompartmental Knee Prostheses Market : https://www.transparencymarketresearch.com/unicompartmental-knee-prostheses-market.html
Appendicitis Market: https://www.transparencymarketresearch.com/appendicitis-market.html
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Mr. Rohit Bhisey
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453