Global Hallucinations and Delusions Treatment Market – Industry Trends and Forecast to 2030

Hallucinations And Delusions Treatment Market Analysis and Size

The incidence of delusions and hallucinations is assessed to be around 0.02%. Men are more likely to have paranoid delusions than women and in some cases such as in delusions of erotomania, the incidence in women is higher. As per the records of World Health Organization, in 2022, schizophrenia affects 24 million people, globally. Furthermore, the American Psychiatric Association and the National Institute of Mental Health projected that the risk of an individual having schizophrenia at some point in their life is between 0.3% and 0.7%.

Data Bridge Market Research analyses a growth rate in the hallucinations and delusions treatment market in the forecast period 2023-2030. The expected CAGR of hallucinations and delusions treatment market is tend to be around 4.50% in the mentioned forecast period. The market was valued at USD 8 billion in 2022, and it would grow upto USD 11.38 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Hallucinations And Delusions Treatment Market Scope and Segmentation

Market Definition

Psychosis is a kind of mental health problem which causes experience of things that do not exist or have no basis in reality. There are two major symptoms of psychosis namely hallucinations and delusions. Hallucinations are sensory experiences which occur without an actual stimulus. Delusions are meant to be the strong beliefs which are false and donot exist and are secret in the mind of the person having the delusion. The treatment used for treating schizophrenia controls the behavior of patients. These medications control the dopamine in the brain, and therefore the overall behaviour of the schizophrenic patient.

Hallucinations And Delusions Treatment Market Dynamics

Drivers

• Increased Incidence of Bipolar Disorders

The occurrence of bipolar treatment is an important factor of the market growth. There is no direct medication that is available for the diseased conditions. Factors such as loss of interest in life, disturbing thoughts, abnormal emotions are some of the major symptoms of the condition. These disorders are similar to hallucinations and delusions treatment. The wide availability of several drugs are boosting more demand for the market.

• Increased Awareness About the Diseased Conditions

The growing research associated with the market increases the expansion rate during the forecast period. The greater adoption of clinical drugs for this diseased condition will bring much favourable outcomes. Additionally, the treatment involves both counselling sessions and drugs. Thus, the market is tend to grow at a fast pace considering both the options.

Opportunities

• Increased Strategic Alliances between Organizations

Numerous players are involved in hallucinations and delusions treatment and are concentrating on building commercialization and research alliances with a view to expand prospects. For instance, in 2014, Vanda Pharmaceuticals entered into a sub licensed agreement with Novartis which ultimately resulted into global licensing from Novartis that is related to fanapt. In 2016, Astella collaborated with Astra Zeneca to get exclusive rights from Astra Zeneca for manufacturing quetiapine fumarate.

• Increasing Demand for Cognitive-behavioral therapy (CBT)

Besides the drugs, cognitive-behavioral therapy (CBT) can be applied as an addition to antipsychotic medication. The success of CBT largely depends on the reduction of catastrophic appraisals, thus decreasing the associated anxiety and distress. The therapy aims at decreasing the emotional distress related with auditory hallucinations and develops new coping mechanisms.

 Restraints/Challenges

• Lack of Awareness

The lack of awareness among patients and clinicians about the hallucinations and delusions treatment is a major restraint. The underdeveloped and developing countries cannot differentiate about many such neurological disorders. Many mix this condition with depression, anxiety and bipolar disorders. Much more research and awareness about these diseases are necessary in many counties.

• Side-Effects of Antipsychotic Drugs

With regards to their side effects, antipsychotics can show major weight increase and sedation. The Patient Outcomes Research Team guidelines recommend not preferring olanzapine or clozapine as first choice of drugs due to the severe weight gain they may induce. Thus, these side-effects impose a major hindrance to the market.  

This hallucinations and delusions treatment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hallucinations and delusions treatment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Hallucinations And Delusions Treatment Market            

The COVID-19 pandemic left a major impact mental health significantly. Those with schizophrenia and hallucinations were the most brutal hit. If exposed, patients were at a bigger risk of contracting the COVID-19 virus. These patients were shown to be at a higher risk of infection due to their difficulty in following safety precautions.

Though, in the post-pandemic era, the situation is increasing and the cases of bipolar disorders, hallucinations, schizophrenia are addressed properly and also it has been witnessed that the cases dropped abruptly.

Global Hallucinations And Delusions Treatment Market Scope

The hallucinations and delusions treatment market is segmented on the basis of types of delusions, types of hallucinations, treatment type, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Types of Delusions

• Erotomanic
• Somatic
• Persecutory
• Others

Types of Hallucinations

• Visual
• Auditory
•  Olfactory
• Others

Treatment Type

• Conventional Antipsychotics
• Atypical Antipsychotics
• Others Medications

Route of Administration

• Oral
• Injectable
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Hallucinations And Delusions Treatment Market Regional Analysis/Insights

The hallucinations and delusions treatment market is analysed and market size insights and trends are provided by types of delusions, types of hallucinations, treatment type, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the hallucinations and delusions treatment market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific has been witnessing the highest growth for the hallucinations and delusions treatment market throughout the forecasted period due to more CNS diseases and rapidly disposable income.

North America dominates the market due to the growing prevalence of schizophrenia and associated mental disorders in the population, increasing geriatric population, high healthcare spending, and the presence of major market players.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Hallucinations And Delusions Treatment Market Share Analysis

The hallucinations and delusions treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hallucinations and delusions treatment market.

Key players operating in the hallucinations and delusions treatment market include:

• Pfizer Inc (U.S.)
• AstraZeneca (U.K.)
• Bristol-Myers Squibb Company (U.S.)
• Dr. Reddy's Laboratories Ltd (India)
• Endo International plc (Ireland)
• Teva Pharmaceutical Industries Ltd (Israel)
• Sun Pharmaceutical Industries Ltd (India)
• Mylan N.V. (U.S.)
• Novartis AG (Switzerland)
• Lupin (India)
• Cipla Inc (India)
• Acadia Pharmaceuticals Inc. (U.S.)
• Bayer AG (Germany)
• Sanofi (France)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Bausch Health Companies Inc. (Canada)
• Merck & Co., Inc. (U.S.)
• Johnson & Johnson Private Limited (U.S.)
• H. Lundbeck A/S (Denmark)
• Cardinal Health. (U.S.)
• Autism Speaks Inc. (U.S.)
• Boehringer Ingelheim International GmbH (Germany)
• Mallinckrodt (U.K.)

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