Market Analysis: Global Hallucinations and Delusions Treatment Market
Hallucinations and delusions treatment market is rising gradually with a substantial CAGR in the forecast period of 2020-2027. The report contains data of the base year 2019 and historic year 2018. Unmet need of medical therapies and increasing research and development of newer treatment options for hallucination and delusions are some factors that are expected to drive the market growth.
Market Definition: Global Hallucinations and Delusions Treatment Market
Psychosis is a mental health problem that causes experience of things that do not exist or have no basis in reality. There are two main symptoms of psychosis that are hallucinations and delusions. Hallucinations are sensory experiences that occur without an actual stimulus. Delusions are the strong beliefs that are false and secret in the mind of the person having the delusion.
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The prevalence of delusions and hallucinations is estimated to be 0.02%. Men are more likely to have paranoid delusions than women and in some cases like delusions of erotomania, the prevelance in women is higher. The rising occurrence of hallucinations and delusions in people and increasing geriatric population will drive the growth of global hallucination and delusions treatment market.
Rising prevalence of parkinson's disease and its complications drives the global hallucination and delusions treatment market
Increasing geriatric population that are highly vulnerable for hallucinations and delusions will contribute in market growth
Unmet need of medical treatments for hallucinations and delusions is a potential driver of market growth
Increase in the rate of R&D initiatives fuels up the treatment market
High-cost therapies can impede the market growth
Lack of awareness about complications associated with hallucination and delusions obstructs the market growth
Segmentation: Global Hallucinations and Delusions Treatment Market
By Types of Delusions
By Types of Hallucinations
By Route of Administration
By End Users
By Distribution Channels
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of Middle East & Africa
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Key Developments in the Market:
In September 2018, ACADIA Pharmaceuticals Inc. announced that the U. S. FDA issued a positive statement on Benefit-risk profile of Nuplazid (pimavanserin), a drug that is used for treatment of hallucination and delusions associated with Parkinson’s disease psychosis (PDP). This statement was based on a post marketing surveillance review of the drug. This positive statement resurrected the marketing of Nuplazid
In June 2018, ACADIA Pharmaceuticals Inc. received the U. S. FDA approval for a new formulation of Nuplazid (pimavanserin). Previously, nuplazid was recommended as two 17mg tablets. The new formulation is a 34 mg capsule single dose unit. This new dosage form of Nuplazid will reduce the pill burden maintaining the patient compliance
Global hallucinations and delusions treatment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hallucinations and delusions treatment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Players:
Few of the major competitors currently working in the global hallucinations and delusions treatment market are ACADIA Pharmaceuticals Inc., GlaxoSmithKline plc., F. Hoffmann-La Roche Ltd, AbbVie Inc., Teva Pharmaceutical Industries Ltd., UCB S.A., Bausch Health, Merck & Co., Inc., Sanofi, Pfizer Inc., Johnson & Johnson Services, Inc., Mylan N.V., Alkermes, AstraZeneca, H. Lundbeck A/S, Cardinal Health, Autism Speaks Inc., Boehringer Ingelheim International GmbH, Mallinckrodt among others.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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