Improvements in Awareness and Treatment of Mental Disorders Will Drive China's Psychiatric Drug Market to Reach Nearly $1 Billion by 2012, According to a New Report From Decision Resources
WALTHAM, Mass., Dec. 11 /PRNewswire/ -- Decision Resources, one of the world's leading research and advisory firms focusing on pharmaceutical and healthcare issues, finds that China's views on mental disorders are improving but challenges remain. According to the new special Emerging Markets report entitled Issues in Diagnosis and Treatment of Psychiatric Disorders in China, most surveyed Chinese psychiatrists cite lack of awareness about mental disorders, social stigma and potential negative impact on employability as barriers for patients to seek psychiatric treatment, although they foresee improvements in diagnosis and treatment rates during the next five years.
"To improve the treatment of mental health disorders in China, physicians told us that they want drug companies to help increase social awareness of mental disorders," stated Manashi Sherawat, Ph.D., analyst at Decision Resources.
The report also finds that improvements in awareness and treatment of mental disorders will drive the Chinese psychiatric drug market to grow from $250 million in 2007 to nearly $1 billion in 2012. Selective serotonin reuptake inhibitors (SSRIs) could reach $300 - $350 million assuming a 24 percent compound annual growth rate (CAGR). Atypical antipsychotics could reach $650 million assuming a 35 percent CAGR.
"By indication, schizophrenia currently holds the largest share due to the recognition of the need for medical treatment of this condition and the high price of the atypical antipsychotics," added Dr. Sherawat. "By 2012, based on current trends, we anticipate that schizophrenia and bipolar disorder shares will increase slightly, and the share held by major depression and generalized anxiety disorder will decline."
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