Neuropsychiatric Disorders and Treatment Market Overview
Market Research Future (MRFR) has found out in its latest report that The Neuropsychiatric Disorders And Treatment Market is projected to reach USD 1,62,214 Million by 2030 at 11.5% CAGR during the forecast period 2022-2030. Neuropsychiatric disorders are mental illness which comprises the study of two fields of science – neurology, and psychiatry. It is one of the key areas of research in these two branches of medical science and is expected to gain momentum in the upcoming years.
There are several types of neuropsychiatric disorders, the root causes for some of which remains unknown to doctors and scholars. This gap between the incidences and treatments is likely to motivate the growth trajectory of the Neuropsychiatric Disorders and Treatment Market in the years to come. Investments are expected to observe an upswing in the forthcoming years for addressing the rising need for diagnosis. It is likely to push the growth curve of the market to exhibit a steeper rise over the assessment period.Large-scale prevalence of these disorders in conjunction with the ever-increasing patient population is anticipated to propel the expansion of the market in the foreseeable future. In addition, rising cases of depression and other such psychiatric disorders are further expected to favor the growth of the market in the forthcoming years. On the contrary, the lack of clinical trial data coupled with long term treatment is poised to check the expansion of the market through the projection period.
Although this disorder is prevalent among people belonging to all age groups, it has become more popular among infants and children. It has fueled the demand for research and drug development for cure and prevention. Also, there has been a rise in technological advancements for the detection of abnormalities at an early stage. All these factors are prognosticated to augment the global neuropsychiatric disorders and treatment market over the next couple of years.
On the basis of disorder, the Global Neuropsychiatric Disorders And Treatment Market has been segmented into degenerative diseases, neurotic disorders, psychosis, and others.
On the basis of treatments, the market has been segmented into shock treatment, drug treatment, others.
On the basis of end-users, the market has been segmented into hospitals, clinics, research center, and others.
North America, Europe, Asia Pacific, and the Middle East & Africa are the key markets for neuropsychiatric disorders and treatment market. North America is the largest market for market due to the overriding burden of neuropsychiatric disorders which results in a large number of deaths per year.
Europe is the second largest market for neuropsychiatric disorders, led by the regions of Iceland, Norway, and Switzerland. Huge population suffering from mental disorders and augmenting need for better treatment is boosting the market in Europe.
Asia Pacific market is advancing at a rapid pace. The rise in geriatric population, persistently improving healthcare sector and raising awareness in the region favors the growth of the market in Asia Pacific.
The Middle East & Africa market accounts for the least share of the market. Lack of awareness and limited availability of advanced treatment options, especially in the Africa region acts an impediment to the growth of the market. However, improving healthcare sector in the Middle East is expected to provide impetus to the growth of the Middle East & Africa market.
Eli Lilly (US), Universal Health Services Inc. (US), Wyeth (US), AstraZeneca (UK), Pfizer (US), Astellas Pharma Inc. (Japan), Biogen (US), Boehringer Ingelheim GmbH (Germany), Otsuka Holdings Co. Ltd (Japan), GlaxoSmithKline (UK), Bristol-Meyer Squibb (US), Johnson & Johnson (US) are the neuropsychiatric disorders and treatment market Players.
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