Antipsychotic Drugs Market report predicts impressive growth by 2027 just published
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.
The global antipsychotic drugs market is touted to touch USD 18.5 billion at a staggering 4.3% CAGR during the forecast period.
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 participants of this market 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
Based on region, the antipsychotic drugs market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific and Middle East and Africa. Of these, the American region will have precedence in the market over the predicted years owing to excellent support from the government, better regulatory framework, well-established healthcare infrastructure, good reimbursement scenario especially in the US and rapid uptake of novel drug molecules. Europe will grab the second largest share in the antipsychotic drugs market owing to increasing healthcare expenditure made by the government coupled with increasing disposable income. The antipsychotic drugs market in the Asia Pacific region will grow at the fastest rate and at a healthy CAGR owing to increasing social awareness concerning psychotic disorders and also other associated disorders namely depression, anxiety and mania. Moreover, the accessibility of medicines to treat mental illness will boost the growth of the antipsychotic drugs market in this region over the predicted years.
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