Global Mental Disorder Treatment Market, by Disorder Type (Depression, Bipolar Disorder, Schizophrenia, Dementia, Post-traumatic Stress Disorder, and Others), by Medication (Anti-depressants, Anti-anxiety, Mood Stabilizing Medication, and Antipsychotic Medications), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 48.4 billion in 2020 and is expected to exhibit a CAGR of 6.6 % during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Major companies focusing on product approvals for the treatment of mental disorders is expected to drive the growth of mental disorder treatment market. For instance, in August 2020, Janssen Pharmaceutical Companies of Johnson & Johnson announced that the U.S. Food and Drug Administration (FDA) approved SPRAVATO (esketamine) CIII nasal spray, as a supplemental new drug application (sNDA). SPRAVATO (esketamine) CIII nasal spray is indicated to treat depressive symptoms in adults with major depressive disorder (MDD) and acute suicidal behavior.
Global Mental Disorder Treatment Market – Impact of Coronavirus (COVID-19)
- The COVID-19 pandemic has drastically impacted each and every market across the world. Therefore, government agencies are taking initiatives to know the effect of pandemic on the mental health. For instance, on November 18, 2020, Himachal Pradesh State Mental Health Authority, India, announced that they are going to start mental health survey collaborating with the Department of Psychology, University of Himachal Pradesh. Under this survey, the researchers will assess the impact of pandemic on mental health of individuals, and will conduct the survey in Himachal Pradesh, India, with sample size of around 75,000 individuals.
- Moreover, the COVID-19 pandemic has affected the global mental disorder treatment market in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and by its financial impact on firms and financial markets. Supply chain and manufacturing activities in India, China, and the U.S. are disrupted due to nationwide lockdowns. Whereas, countries such as Saudi Arabia, UAE, Egypt, and others are facing problems due to transportation of drugs from one place to another.
Browse 33 Market Data Tables and 32 Figures spread through 175 Pages and in-depth TOC on “Global Mental Disorder Treatment Market, by Disorder Type (Depression, Bipolar Disorder, Schizophrenia, Dementia, Post-traumatic Stress Disorder, and Others), by Medication (Anti-depressants, Anti-anxiety, Mood Stabilizing Medication, and Antipsychotic Medications), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa
To know the latest trends and insights prevalent in the global mental disorder treatment market, click the link below:
https://www.coherentmarketinsights.com/market-insight/mental-disorder-treatment-market-4326
The global mental disorder treatment market is expected to witness significant growth during the forecast period, owing to increasing prevalence of mental disorders such as Schizophrenia globally. For instance, according to the World Health Organization report published in 2019, stated that around 20 million individuals suffered from Schizophrenia disorder globally, in the year 2019.
Moreover, increasing prevalence of mental disorders such as dementia and developmental disorders, including autism is expected to drive growth of global mental disorder treatment market. For instance, according to the World Health Organization report published in 2019, stated that around 50 million individuals suffered from dementia globally, in the year 2019.
Key Takeaways of the Global mental disorder treatment Market:
- The global mental disorder treatment market is expected to exhibit a CAGR of 6.6 % during the forecast period, owing to key companies focusing on product launches for the treatment of mental disorders such as bipolar disorders, depression, and others. For instance, in 2019, Sun Pharmaceutical Industries recently announced the launched of Drizalma Sprinkle (duloxetine delayed-release capsules) in the U.S. for oral use. Drizalma Sprinkle is a serotonin and norepinephrine reuptake inhibitor (SNRI) designed for the treatment of various neuro-psychiatric and pain disorders in patients who have difficulty swallowing.
- https://business.medicaldialogues.in/sun-pharma-launches-drizalma-sprinkle-in-us-for-treating-neuro-psychiatric-and-pain-disorders-in-patients-with-swallowing-difficulties?infinitescroll=1
- Among disorder type, depression segment is estimated to hold major market share in the global mental disorder treatment market during the forecast period, owing to increasing prevalence of depression in individuals globally.
- Among medication, anti-depressants segment is estimated to hold major market share in the global mental disorder treatment market during the forecast period, owing to rising incidence of depression in children and adults globally. According to Center of Disease Control and Prevention report published in 2019, stated that approximately 9.3% of children were suffering from mental disorders such as depression in US, in 2019.
- Key players operating in the global mental disorder treatment market include Allergan plc., Eli Lilly and Company, VistaGen Therapeutics, Sanofi S.A, Novartis International AG, Mylan N.V., Amneal Pharmaceuticals LLC, Cipla Ltd, Sun Pharmaceutical Industries Ltd., Glenmark Pharmaceuticals Limited, Lupin Limited, Janssen Pharmaceutica, Bristol Myers Squibb, and Sumitomo Dainippon Pharma Co., Ltd
