Neuropsychiatric Disorders refer to a group of syndromes exhibiting abnormalities in emotions, cognition, and/or behaviors. The prevalence of neuropsychiatric disorders puts an enormous burden on individuals and the healthcare sector, emotionally as well as financially. The Global Neuropsychiatric Disorders And Treatment Market is projected to grow at a CAGR of 6.2% over the forecast period which ends in 2023, reveals Market Research Future (MRFR) in a detailed research report.
Widespread prevalence of neuropsychiatric disorders across the globe has generated massive demand for treatment. The number of individuals affected by neuropsychiatric disorders such as depression, alcohol-use disorders, schizophrenia and bipolar disorders is likely to grow further in view of the growing ageing population. Neuropsychiatric disorders are common in people more than 65 years. Rise in global geriatric population increases the prevalence of neuropsychiatric disorders and induces high demand for treatment and diagnosis.
Development in treatment and diagnosis methods have opened up new avenues for the growth of the market. In addition, the improving clinical availability of brain imaging modalities such as CT scan, MRI, and others have spurred the market growth.
Massive investment in Research & development activities by pharmaceutical giants for the development of treatment of neuropsychiatric disorders has fostered the growth of the market. However, despite decades of research, the results of such research remain elusive which might constrain the growth of the market. Other market deterrents include long term treatment and lack of clinical trial data for neuropsychiatric diseases.
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Global Neuropsychiatric Disorders and Treatment Market – Key Players
Astrazeneca (UK), GlaxoSmithKline (UK), Universal Health Services Inc. (US), Biogen (US), Boehringer Ingelheim GmbH (Germany), Eli Lilly (US), Bristol-Meyer Squibb (US), Johnson & Johnson (US), Pfizer (US), Wyeth (US), Otsuka Holdings Co. Ltd (Japan), Astellas Pharma Inc. (Japan)
Global Neuropsychiatric Disorders and Treatment Market – Competitive Analysis
AstraZeneca is a multinational pharmaceutical and biopharmaceutical company headquartered in UK. Recently AstraZeneca has completed its collaboration with National Institute of Mental Health. This collaboration will help to discover the new and better drug treatment for distressing condition. AstraZeneca has also collaborated with Vanderbilt Center for the Neuroscience Drug Discovery which aims to discover new drug for the treatment of neuropsychiatric disorders.
Universal Health Services is an American Fortune 500 company headquartered in US. It is one of the largest hospital management companies in US. Universal Health Services is a huge company with the revenues of nearly USD 9.7 billion with the profit of more than USD 600 million.
Boehringer Ingelheim is one of the world’s 20 leading pharmaceutical companies headquartered in Germany. In 2016, Boehringer Ingelheim is collaborated with Saniona. This collaboration aims to develop the new treatment for the patients suffering from schizophrenia.
Industry News:
In June 2018, the world’s first neurosurgical robotic system for bilateral stereotactic neurosurgery was designed by a mechanical engineering team of the Hong Kong University. The breakthrough technology can assist in the treatment of variety of neuropsychiatric disorders.
In April 2018, Biogen and Ionis Pharmaceuticals entered into a partnership to work on a 10-year, $1 Billion-plus project to develop neuropsychiatric drugs. Biogen will be responsible for non-clinical studies, clinical development, commercialization and manufacturing. In addition, Biogen will have the option to license therapies coming out of this collaboration.
Global Neuropsychiatric Disorders And Treatment Market – Segmentation
Global Neuropsychiatric Disorders And Treatment Market is segmented on the basis of disorders into degenerative diseases, neurotic disorders, psychosis and others. On the basis of treatments, it is segmented as shock treatment, drug treatment, others and on the basis of end users it is hospitals, clinics, research centers and others
Global Neuropsychiatric Disorders and Treatment Market – Regional Analysis
On regional basis, global neuropsychiatric disorders and treatment market is segmented into North America, Europe, Asia Pacific and Middle East and Africa. North America commands the largest market for the neuropsychiatric disorders and treatment. In North America neuropsychiatric disorders account the highest rate of disability-adjusted life year (DALYs). DALYs is a measure of overall disease burden which express the number of years lost due to ill health or early death. According to Centers for Disease Control and Prevention, around 5.3 million Americas are suffering from this disease and this number is expected get double in next couple of decades due to due to the aging of the population. This increasing number of the neuropsychiatric patients in North America has led to the growth of this market in North America.
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Europe commands the second largest market for the neuropsychiatric disorders and treatment. Huge population suffering from mental disorders in Iceland, Norway and Switzerland has contributed a lot for the European market. Moreover, increasing demand for need of better treatment and increasing burden of neuropsychiatric disorders are the major factor for the growth of the market.
Neuropsychiatric disorders and treatment market in Asia Pacific is growing at a steady pace due to huge geriatric population in this area, continuous improving healthcare infrastructure and rapid development in healthcare sector has boosted growth of this market. The Middle East and Africa has least market for the neuropsychiatric disorders and treatment.
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