Antipsychotic Drugs Market Outlook,Analysis 2023 to 2030 | Industry Demand, Size, Share, Trend, Key Players Review and Fast Forward Research
Antipsychotic Drugs Market
Anti-psychotics 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.
Antipsychotic Drugs Market Share is expected to register a CAGR of 5.7% to reach USD 33.59 Billion by 2030
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.
Major Key Players:
The major Key Market Players are: Eli Lilly & Co., Bristol-Myers Squibb, AstraZeneca, Pfizer Inc., GlaxoSmithKline Plc., Johnson & Johnson and others.
Segment Analysis
Market Research Future report offers an all-inclusive segmental analysis of the antipsychotic drugs market on the basis of application and generation.
Based on therapeutic application, it is segmented into injectable antipsychotics dementia, depression, bipolar disorder, schizophrenia and others. Of these, psychotic depression and schizophrenia will have the largest share in the antipsychotic drugs market over the predicted years.
Based on generation, the antipsychotic drugs market is segmented into first, second, third. The first generation is also called neuroleptics or typical antipsychotics and the second generation is also called atypical antipsychotics.
Regional Analysis
Global Antipsychotic Drugs Market Outlook, based on region, has been divided into Europe, the Americas, Asia-Pacific, and Middle East & Africa.
As per the analysis, the global market is projected to be dominated by North America owing to the rising population being affected by psychosis. The US and Canada are expected to make significant participation due to the increasing cases of schizophrenia and insomnia. Further, the presence of established key players in the region is predicted to augment the market in the coming period. The developing healthcare infrastructure is anticipated to strengthen the market during the review period.
Europe is expected to acquire significant market value during the forecast period, thriving at a notable CAGR. The region is anticipated to grow due to the expanding patient pool. The on-going development in the concerned field is likely to bolster the market during the assessment period. Further, the development of healthcare infrastructure can augment the market during the evaluation period.
The APAC region is expected to garner substantial market value during the review period. The expanding patient pool with the growing innovation in medical devices is likely to grow the market in the forecast period. Developing countries like India, China, and Japan are projected to play a crucial role in strengthening the regional market due to the on-going development of the healthcare sector. Furthermore, the on-going R&D in the field is expected to drive the regional market at a fast pace in the coming period.
The MEA region is anticipated to witness steady growth during the forecast period due to the developing healthcare infrastructure. The presence of Middle East countries like Qatar and Saudi Arabia are expected to make more significant participation than the African countries due to economic stability.
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