A mental disorder is also called as mental illness or a psychiatric disorder. Mental disorders are generally defined according to how an individual behave, feels, perceives and thinks, and mental disorder occurs due to damage or problems associated with functions of brain. There are various types of mental disorders such as depression, bipolar disorder, schizophrenia and other psychoses, dementia, and developmental disorders including autism. These disorders can be treated with the help of various medications such as anti-depressants, antianxiety drugs and can also be treated with self-help therapies such as psychotherapy, brain stimulation treatments, and others.
The global mental disorder treatment market 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).
Figure 1. Global Mental Disorder Treatment Market Value (US$ Bn), 2016-2027
The increasing prevalence of mental disorders such as depression is expected to propel growth of the global mental disorder treatment market during the forecast period. For instance, according to the World Health Organization report published in 2019, stated that depression is the most common mental disorder globally and around 264 million individuals suffered from depression globally, in the year 2019.
Furthermore, key companies focusing on product approvals by regulatory bodies for the treatment of mental disorders is expected to propel growth of the global mental disorder treatment market during the forecast period. For instance, in May 2019, Allergan plc. and Gedeon Richter Plc. announced that the U.S. Food and Drug Administration (FDA) approved its VRAYLAR (cariprazine) as a supplemental new drug application (sNDA) for the treatment of depressive episodes associated with bipolar I disorder (bipolar depression) in adults.
|Base Year:||2019||Market Size in 2020:||US$ 48.4 Bn|
|Historical Data for:||2016 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||6.6%||2027 Value Projection:||US$ 75.7 Bn|
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
|Restraints & Challenges:||
Global Mental Disorder Treatment Market – Impact of Coronavirus (COVID-19)
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency. According to the World Health Organization’s report, manifestation of coronavirus (COVID-19) has resulted in over 65.1 million infected individuals worldwide as of 4th December, 2020.
The coronavirus (COVID-19) pandemic and resulting lockdown in various countries across the globe have impacted the financial status of major companies in the mental disorder treatment market. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The pandemic has negatively impacted the global mental disorder treatment market in various aspects such as development, production, and supply of medicines and also affected growth of the pharmaceutical businesses of various companies across the globe due to lockdowns implemented by governments of several countries. The nationwide lockdowns have led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of the raw materials and drugs for therapeutic use.
Figure 2. Global Mental Disorder Treatment Market Share (%), By Region, 2020
North America is expected to hold dominant position in the global mental disorder treatment market during the forecast period, owing to key companies focusing on inorganic strategies such as strategic collaborations for developing the treatment of various mental disorders such as depression and others. For instance, in June 2020, VistaGen Therapeutics, a pharmaceutical company in the U.S. and EverInsight Therapeutic entered into a strategic collaboration to develop and commercialize ph94b for anxiety disorders in greater China, South Korea, and Southeast Asia.
Major 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
The mental disorder include various different types of mental disorders such as depression, bipolar disorder, schizophrenia, dementia, post traumatic disorders, and others. These mental disorders are treated with the help of medications or psycho-therapies. Moreover, various medications used for the treatment of these mental disorders include anti-depressants, anti-anxiety medications, anti-psychotic medications, and mood stabilizing medication.
Key companies are focusing on product launches for the treatment of mental disorders such as depression, bipolar disorders to strengthen their position in the global mental disorder treatment market. For instance, in 2017, Lupin Limited, launched its anti-depressant, Bupropion Hydrochloride extended release tablets, indicated for the treatment of major depressive disorder, in the U.S. market.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section