Market Analysis - Asian Psychiatry 2020
Psychiatry includes various levels of mental health conditions starting from neuropsychiatry to general psychiatric conditions to psychological health. Psychiatry meetings try to focus on all these mental conditions focusing on all the states of mind. Mental health includes our emotional, psychological, and social well-being and it helps us to determine how we handle stress and make choices.
The global psychiatrist market was valued at $795.1 billion. North America was accounting for $380.1 billion or 0.4% of the global market. And the USA was the largest country which is accounting for $318.8 billion or 0.4% of the global psychiatrist market. Likewise, according to some studies, the global schizophrenia market is estimated to reach US$10.43 billion in 2023, growing at a CAGR of 3.69%, for the period spanning from 2018 to 2023. China’s demand for Mental Illness Drugs has been growing at a fast pace in past few decades. In the next decade, both production and demand will continue to grow for psychiatric drugs.
There is a strong stigma attached to mental illness in Japan that discourages many people from taking the help they need. But even if the patients try to get help, the health care system does not volunteer to their needs and is irregular toward a high dosage, poly-pharmacy therapy that generates profits for the prescribing doctors. Mental health care has been now shifting from psychiatric institutions towards community-based settings for the last 40 years in most of the countries. However, Japan still has a very high ratio of psychiatric care beds, and the average length of stay in psychiatric institutions is nearly about 300 days.
Studies show the approximate number of persons with disabilities in Japan is divided into three categories i.e. physical disabilities, intellectual disabilities and mental disorders. The number of persons who are with mental disorders is 3.2 million, which accounts for 41% of all the disabilities in Japan. Among them about 10% of the total are inpatients that live in mental hospitals or general hospitals with psychiatric care beds. Among all of the psychiatric in-patients, 57.4% are diagnosed with schizophrenia, 22.6% have found with organic mental disorders, 8.6% have mood disorders problem, 4.5% having mental and behavioural disorders as a result of psychoactive substance use/ addiction, 1.7% having neuroses, and 5.2% are categorised as others by Ministry of Health, Labour and Welfare. Irrespective of the age of inpatients, the majority of them are aged 40 years and more. The breakdown is that 40.1% are between 40 and 64 years old, and 51.5% are 65 years and more.