Psychotic Disorder Treatment Market Growth Impelled by Growing Cases of Mental Disturbances: Says Fact.MR
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.
“Growing prevalence of lifestyle-related mental conditions together with the increasing number of bipolar disorders is compelling the expansion of efficient-psychotic disorder treatment. Increasing number of patients suffering from schizophrenia, depressive disorders, bipolar disorders and other mental disorders are fast-tracking the growth for psychotic disorder treatment.” states Fact.MR.
Surge in Need for R&D for Novel Drugs to Generate Prospects
The WHO estimates that over 21 Mn individuals globally in 2016, suffered from schizophrenia, and indicated that one in two individuals with this condition don’t get proper treatment. This is generating prospects for the stakeholders to develop cost-efficient medications to broaden their reach to an extensive target base.
The growing research & development undertakings for the novel drugs as well as new drugs combinations to diminish the adverse impacts of the antipsychotics drugs and increase efficacy and safety of the drug is projected to encourage the demand for the psychotic disorder drugs. Furthermore, surge in prevalence of severe psychotic disorder as well as increasing awareness amid people will drive the growth for the industry.
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Atypical Antipsychotic Drugs Type to Gain Traction
Antipsychotics has been expanding expeditiously due to increasing incidences of mental disorders such as bipolar disorder and schizophrenia. Atypical antipsychotics are majorly preferred drug type, since they are more effective as compared to the first-gen of antipsychotics. The rise of atypical antipsychotic drugs in the psychotic disorder treatment sector is transforming the landscape of mental disorders. Accordingly, people with mental disorders no longer required to be physically bound as well as can be managed with medication and drug treatment.
Some of the top-selling antipsychotic drugs incorporate Seroquel, Abilify, Zyprexa, and Risperdal.
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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Development of Advanced Devices Remains Key Focal Area: Fact.MR Survey
Psychotic disorder treatment market is gaining traction with the presence of various prominent players. Fact.MR’s survey with thought leaders revealed that growth of advanced treatment devices will remain a prominent strategy for market players in 2021 & beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. Some of the players profiled in the report are Sanofi S.A., Teva Pharmaceutical Industries Ltd, Allergan, Plc, Novartis International AG, Pfizer Inc, Merck & Co., Inc., Amgen Inc., Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd, and Mylan N.V. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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