Market Synopsis:
Market Research Future (MRFR) has found out in its latest report that the neuropsychiatric disorders and treatment market is projected to reach USD 166.3 Billion at a healthy CAGR of 10.20% during the forecast period 2023-2032. 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.
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.
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 neuropsychiatric disorders and treatment 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 neuropsychiatric disorders and treatment market through the projection period.
Competitive Dashboard:
Neuropsychiatric Disorders And Treatment Market players have been profiled in this MRFR report which includes
- AstraZeneca (UK)
- Universal Health Services Inc. (US)
- GlaxoSmithKline (UK)
- Biogen (US)
- Eli Lilly (US)
- Boehringer Ingelheim GmbH (Germany)
- Bristol-Meyer Squibb (US)
- Pfizer (US)
- Johnson & Johnson (US)
- Wyeth (US)
- Astellas Pharma Inc. (Japan)
- Otsuka Holdings Co. Ltd (Japan)
Market Segmentation:
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 neuropsychiatric disorders and treatment market has been segmented into shock treatment, drug treatment, others.
On the basis of end-users, the neuropsychiatric disorders and treatment market has been segmented into hospitals, clinics, research center, and others.
Regional Analysis:
The Global Neuropsychiatric Disorders And Treatment Market insight, by region, has been segmented into four regions, North America, Europe, Asia Pacific and the Middle East & Africa (MEA). North America is leading the global market and is anticipated to keep control over its dominant position in the years to come. The advancements in the healthcare sector of the region are conducive to the expansion of the neuropsychiatric disorders and treatment market. Also, the region is backed a developed healthcare infrastructure which is poised to imbibe the advancements in the treatments over the next couple of years. Europe is anticipated to maintain its second position across the review period. The increasing investments and strong government support for research & development are likely to have a positive influence on the proliferation of the neuropsychiatric disorders and treatment market in the foreseeable future.
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