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Psychotherapy is a collaborative treatment method used by psychologists to help people overcome various mental illnesses and emotional difficulties. Psychotherapy aims to improve an individual’s well-being and mental health by eliminating or controlling troubling symptoms. A psychotherapist addresses different types of mental, emotional, and behavioral problems such as troublesome phobia, compulsive disorders, and trauma, grief caused by death of loved ones, depression, anxiety, and medical illness. Many different types of psychotherapy techniques have been developed as per the need and indication of the patients. Psychotherapeutic drugs are also being used in combination with other techniques, which are found to be more effective than the use of a single technique. Psychotherapeutic drugs are used to treat several types of mental disorders such as schizophrenia, bipolar disorder, anxiety, and depression. Several types of psychotherapeutic drugs are available in the market for the treatment of severe mental illnesses and behavioral disorders. Majority of drug class used for the treatment of mental disorders include antidepressant, antipsychotics, and psychotherapeutic combination drugs.

High prevalence of mental disorders and depression globally, increase in risk of depression owing to poverty, unemployment, death of loved ones, or relationship problems are the key factors driving the global psychotherapeutic drugs market. According to the World Health Organization, over 300 million people, nearly 4.4% of the global population, suffered from depression in 2015. Additionally, the estimated number of people living with depression has increased by 18.4% from 2005 to 2015. Introduction of new psychotherapeutic drugs in the market, owing to the increase in R&D investment budgets, demand for cost-effective antipsychotic drugs, and therapeutic application of psychotherapeutic drugs are likely to boost demand for psychotherapeutic drugs during the forecast period. However, side effects such as drowsiness, insomnia, and blurred vision caused by antipsychotic drugs are likely to restrain the market during the forecast period. Moreover, patent expiry of top branded products is projected to open a window for the generic drugs market in the near future.

The global psychotherapeutic drugs market can be broadly segmented based on drug class, application, distribution channel, and region. In terms of drugs class, the market can be segmented into antipsychotic drugs, antidepressants, and psychotherapeutic combinations. Antipsychotic drugs are used to treat delusions, hallucinations, paranoia, and confusion. These are also used to treat schizophrenia, severe depression, severe anxiety, and to some extent bipolar disorders. The antipsychotic drugs segment accounted for the largest market share in 2016 and the trend is likely to continue from 2017 to 2025. The segment can be sub-segmented into thioxanthenes, atypical antipsychotics, phenothiazine antipsychotics, and miscellaneous antipsychotic agents. The antidepressants segment can be further divided into selective serotonin reuptake inhibitors, serotonin-norepinephrine reuptake inhibitors, tetracyclic antidepressants, tricyclic antidepressants, and miscellaneous antidepressants. Based on application, the market can be segmented into schizophrenia, dementia, bipolar, and unipolar depression. In terms of distribution channel, the psychotherapeutic drugs market can be categorized into hospital pharmacy, retail pharmacy, and online pharmacy.

Geographically, the global psychotherapeutic drugs market can be segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global psychotherapeutic drugs market in 2016. High prevalence of depression and mental disorders, high per capita health care expenditure, and favorable medical reimbursement policies are the key factors likely to contribute to the growth of the psychotherapeutic drugs market in North America during the forecast period. According to the Anxiety and Depression Association of America, over 18.1% of the population of the U.S. are diagnosed with mental disorders each year. Europe was the second leading market for psychotherapeutic drugs in 2016. The market in Asia Pacific is projected to expand at a rapid pace during the forecast period owing to rise in health care expenditure, easy access and availability of medication, and increase in awareness about mental disorders.

Key players operating in the global psychotherapeutic drugs market are Eli Lilly & Co., Johnson & Johnson, Pfizer, Inc., Bristol-Myers Squibb Company, Allergan, GlaxoSmithKline plc, AstraZeneca plc, and Astellas Pharma, Inc., among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Psychotherapeutic Drugs Market

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