Mental Disorders Drugs Market

Mental Disorder Drugs Market: Snapshot

The growing stress levels due to hectic work schedules and lifestyle changes is leading to several mental health disorders among a large chunk of individuals. This factor is estimated to propel the growth prospects of the mental disorder drugs market during the forecast period of 2021-2031.

The growing concerns regarding mental health disorders such as schizophrenia, bipolar disorder, and depression is leading to an increase in the consumption of drugs that lower stress levels. According to the World Health Organization (WHO), nearly 264 mn people around the world are affected by depression. Furthermore, the statistics by the WHO also reveal that approximately 45 mn people are affected by bipolar disorders worldwide. In addition, the recent studies state that more than 19 mn people have schizophrenia, which is a severe mental health disorder. These statistics highlight the rising need for mental disorder treatment, which ultimately has a positive impact on the global market.

The rising awareness about mental health among numerous countries is crucial for influencing the growth of the mental disorder drugs market. The government bodies of numerous countries are promoting mental health through various campaigns. In addition, the promotion of mental health through initiatives like the celebration of World Mental Health Day is also playing an important role in the growth of the mental disorder drugs market.

Transparency Market Research brings a detailed report on the mental disorder drugs market with all the essential factors and aspects necessary for the stakeholders. The report on the mental disorder drugs market has varied information on different points related to the growth opportunities. Geographical dimensions, competitive insights, current trends, latest developments, and the restraints are included in the report. The report also highlights the impact of COVID-19 on the mental disorder drugs market.

Mental Disorder Drugs Market: Competitive Analysis

The mental disorder drugs market can be described as highly fragmented. Numerous players are involved in manufacturing of these drugs. The players in the mental disorder drugs market invest heavily in research and development activities for discovering novel combinations that help treat mental health disorders quickly and efficiently. Strategic collaborations are also a major part of the mental disorder drugs market growth trajectory. These activities ultimately have a large influence on the growth of the mental disorder drugs market.

Some key players in the mental disorder drugs market are Bristol-Myers Squibb, Johnson and Johnson, GlaxoSmithKline, Pfizer, and AstraZeneca.

Mental Disorder Drugs Market: Key Trends

The COVID-19 pandemic has impacted the lives of many individuals around the globe. The strict stay-at-home orders resulted in limiting the day-to-day activities of individuals. This factor had a major impact on the mental health. Furthermore, job cuts and huge losses in business due to the pandemic turned out to be a major aspect that affected the mental health of numerous people. Hence, the demand for these drugs increased during the pandemic. The fear of mass lockdowns due to the emergence of new variants like Omicron is pushing more people into depression and is increasing the stress levels. These aspects may accelerate the growth of the mental disorder drugs market.

Antipsychotic drugs are gaining immense popularity due to their potential to control and treat symptoms like depression, anxiety, hallucinations, and hallucinations. These medicines are used for treating short-term and long-term mental health problems. Hence, the rising demand for antipsychotic drugs may prove to be a boon for the growth of the mental disorder drugs market.

Mental Disorder Drugs Market: Regional Perspective

North America is extrapolated to emerge as a prominent regional growth contributor for the mental disorder drugs market. The rising awareness about mental health in the countries and the growing investment in research related to mental health disorders are major factors that boost the growth of the North America mental disorder drugs market.