Understanding the Post-Traumatic Stress Disorder (PTSD) Market: Size, Prevalence, and Global Impact
A mental health condition known as post-traumatic stress disorder (PTSD) affects people who have gone through or seen horrific experiences. The importance of treating the prevalence and effects of PTSD on society grows along with knowledge and understanding of this disorder. In this blog article, we'll examine the market size for PTSD, the amount spent annually on PTSD-related healthcare, the prevalence of PTSD in the US and around the world, and which nations are hardest hit by this mental illness.
How Big is the Post-Traumatic Stress Disorder Market?
The global Post-Traumatic Stress Disorder Market was estimated to be worth roughly USD 1.15 billion in 2022 as per our most recent report update in August 2023. It's crucial to understand that this value is susceptible to changes as a result of things like greater knowledge, improvements in mental health treatments, and adjustments to healthcare regulations.
Key Companies in the market of post-traumatic stress disorder includes
· Mylan NV (US)
· Greenstone LLC (US)
· Bionomics (Australia)
· Tonix Pharmaceuticals Holding Corp. (US)
· Marinus Pharmaceuticals Inc. (US)
· Azevan Pharmaceuticals (US)
· Lundbeck A/S (Denmark)
· Eli Lily and Company (US)
· Pfizer (US)
· GlaxoSmithKline (UK)
Annual Spending on PTSD
According to estimates, PTSD costs the US economy USD 232.2 billion annually. Healthcare expenses, lost productivity, and other indirect costs are included in this. The civilian population is responsible for paying USD 189.5 billion of the total expenditure. The remaining USD 42.7 billion is made up of the military population.
Prevalence of PTSD in the US
The prevalence of post-traumatic stress disorder has increased to the point where 1 in 13 persons may have the condition at some point in their lives. 70% of adult Americans have gone through at least one traumatic event, and 20% of them will acquire PTSD as a result, according to an NCBI report.
Prevalence of PTSD Worldwide
The lifetime prevalence of post-traumatic stress disorder (PTSD) in the general population is estimated to be 3.9% by the World Health Organization (WHO). According to this statistic, PTSD will affect 4 out of every 100 individuals at some point in their lives. People who have experienced war or other types of trauma are more likely to suffer PTSD than other demographics.
Country with the Highest Rate of PTSD
As of 2023, the country with the highest rate of PTSD is Canada. The British Journal of Psychiatry estimates that 9% of Canadians will experience PTSD at some point in their lives. This is a lot higher than the 3.9% average for the entire world.
Commonality of PTSD
A person may encounter or witness a life-threatening incident, such as war, physical or sexual assault, a natural disaster, or a vehicle accident, which can lead to post-traumatic stress disorder (PTSD), a mental health condition.
PTSD is most commonly found in:
· Veterans: Especially those who have participated in war, veterans are more likely than non-veterans to get PTSD.
· First responders: Due to their frequent exposure to horrific situations while performing their duties, first responders like firefighters and police officers are also more likely to develop PTSD.
· Those who have gone through childhood trauma: Those who have gone through childhood trauma, such as abuse or neglect, are more likely to experience post-traumatic stress disorder (PTSD) in the future.
· Those who have a history of mental illness in their families: Those who have a history of mental illness in their families are also at a higher risk of acquiring PTSD.
Post-Traumatic Stress Disorder is a significant global mental health concern, affecting millions of individuals worldwide. With a market value of approximately $7.8 billion, the PTSD market reflects the growing awareness and need for effective treatments and support for those experiencing the condition.
In the United States, PTSD is prevalent, impacting 7-8% of the population at some point in their lives. Annual spending on PTSD-related healthcare exceeds $42 billion, emphasizing the importance of addressing and providing adequate resources for PTSD care and treatment.
While PTSD is a global concern, countries facing ongoing armed conflicts and violence, such as Afghanistan, have higher rates of PTSD. However, PTSD can affect anyone, and it is commonly found in individuals who have experienced or witnessed traumatic events.
Raising awareness, reducing stigma, and promoting early intervention and mental health support are essential steps in addressing the impact of PTSD on individuals, families, and communities. Additionally, ongoing research and investment in mental health services will be crucial in mitigating the burden of PTSD on a global scale.
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