Global Mental Illnesses Market – Industry Trends and Forecast to 2024
The Global Mental Illnesses Market is projected to reach USD 12,542 million during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Mental Illnesses Market
Mental illness, also termed as mental disorder or psychotherapeutic conditions which can be classified as abnormal behavior, thoughts and feelings. These abnormal conditions sometimes occur for specific amount of time, which leads to distress or emotional or physical impairment. The causes of mental disorders are often unclear.
Major market drivers and restraints: Global Mental Illnesses Market
- Increased in prevalence of mental disorders
- Social and environmental changes, along with changing lifestyle
- Rise in adoption of new therapies and treatments
- Increasing awareness about disorders and treatments
- Growth in geriatric population
Market Segmentation: Global Mental Illnesses Market
The mental illnesses market is segmented by mental disorders into clinical depression, anxiety disorders, bipolar disorders, dementia, attention-deficit or hyperactivity disorder, schizophrenia, obsessive compulsive disorder (OCD), autism and post-traumatic stress.
On the basis of diagnosis the market is segmented into psychological test, lab tests and depression screening tests.
On the basis of treatment the market is segmented into psychotherapy and medication. Psychotherapy is sub segmented into cognitive behavioral therapy (CBT), psychoanalysis and systemic therapy. Medication is sub segmented into drugs. Drugs are further sub segmented into antipsychotics, antidepressants, antianxiety (anxiolyitcs), anti-seizure medications and stimulants.
By end user the market is segmented into hospitals and medical research centers
On the basis of geography, mental illnesses market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Mental Illnesses Market
The mental illnesses market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of mental illnesses market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Mental Illnesses Market
Some of the major players operating in mental illnesses market are Johnson & Johnson Services Inc., AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Novartis AG, Otsuka Holdings Co.,Ltd., Pfizer Inc., GlaxoSmithKline plc, Alkermes, ALLERGAN, Janssen Pharmaceuticals, Inc., Solvay, Meiji Holdings Company, Ltd., Abbott, Jazz Pharmaceuticals plc, AbbVie Inc., Vertical Pharmaceuticals, LLC, ACADIA Pharmaceuticals Inc., Medtronic, Valeant, Validus Pharmaceuticals LLC, Alfasigma USA Inc., Merck KGaA, Victoria Mental Health Centre, Homewood Health, Inc., ROYAL OTTAWA HEALTH CARE GROUP, Centre for Addiction and Mental Health (CAMH), Substance Abuse and Mental Health Service Administration (SAMSHA) and National Institute of Mental Health (NIMH) among others.