Anti-psychotics Drugs Market Scope, Dynamics and SWOT Till 2027
Market Highlights
Anti-psychotics Drugs Market are drugs used in the treatment of psychosis which are a group of disorders characterized by serious distortion of thought, behavior, recognition of reality and perception, delusions and hallucinations.
The market for psychotics represents a huge potential as can be seen from the following estimates by World Health Organization (WHO)
- Depression affects an estimated 300 million people in the world.
- Bipolar affective disorder takes a toll on about 60 million people worldwide.
- Schizophrenia, a severe mental disorder, affects about 21 million people worldwide.
- Dementia has a prevalence in about 47.5 million people worldwide
- One fourth of people are affected by mental or neurological disorders at some point in their lives.
Thus the current number of untapped patients are of an order of around 450 million. Other market drivers are growing awareness and focus on mental illness, inclusion of more conditions such as learning disability in the mental disorders segment, rise of geriatrics population and mental hospitals etc.
The market constraints are social stigma and discrimination, poor efficacy and efficiency of anti-psychotic drugs, serious side effects such as habit forming potential etc. Patent expiry is also constraining the market as a number of established brands such as, Zyprexa, Seroquel, Risperdal lost patents. The drug development pipeline represents another miserable situation. The development pipeline is poor with a few if any novel acting drugs. The market represents numerous drugs with same mechanism of action and similar therapeutic profile which has hampered the market. Strict regulatory framework is another barrier along with the technical difficulties with performing clinical trials for these class of drugs as it is difficult to separate cause and effect in case of anti-psychotic drugs.
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Global Antipsychotic Drugs Market:
The global antipsychotic drugs market has been evaluated as a growing market and it is expected that the market will touch high growth figures in future. The global antipsychotic drugs market is expected to grow with CAGR of ~4.3% during the forecast period. The market for anti-psychotics favors companies with strong research skills and pipelines. Contract research companies also will find high opportunity in the antipsychotic drugs market. The market is hungry for a novel acting drug molecule which will result in extremely fast market uptake at a minimum of marketing cost.
The major participants of this market are: Eli Lilly & Co., Bristol-Myers Squibb, AstraZeneca, Pfizer Inc., GlaxoSmithKline Plc., Johnson & Johnson and others.
Regional Analysis:
Depending on geographic region, antipsychotic drugs market is segmented into four key regions: America, Europe, Asia Pacific, and Middle East & Africa. Globally, America is the largest market for Antipsychotic Drugs as there is a consistent technological advancement which has helped in early diagnosis of the osteoporosis which has projected high growth of antipsychotic drugs market in this region. Europe is the second-largest market for antipsychotic drugs. Asia pacific region is expected to be fastest growing region in antipsychotic drugs market due to increasing investments in the healthcare sector and increasing acceptance of these devices by the healthcare providers.
Segmentation:
Global antipsychotic drugs market has been segmented on the basis of therapeutic applications, which comprises schizophrenia, bipolar disorder, depression, dementia and others. On the basis of generations; market is segmented into first, second and third.
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