Antipsychotic Drugs Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Global antipsychotic drugs market is expected to register a remarkable CAGR of around 6%  over the period of 2021-2027. This is mainly due to the rise in the prevalence of mental health disorders and stringent government regulations coupled with the growing focus of major stakeholders in the healthcare industry to adopt to make antipsychotic drug products more sustainable and eco-friendlier. Major healthcare companies are investing heavily in their products due to rising social awareness regarding psychotic disorders cases, and other associated disorders, such as mania, anxiety, and depression. For instance, as reported by the National Institute of Mental Health has stated that the prevalence of schizophrenia and related symptoms is around 0.25% and 0.64% and this is increasing rapidly. This rise in the prevalence of mental health disorders is contributing to market growth. Furthermore, various factors such as psychosis can cause conditions like distortions in thinking, emotions, and sense of self and behavior which is responsible for excessive use of antipsychotic drugs and significantly contributes to the market for meditation for the treatment of a mental illness. Therefore, the market for antipsychotic drugs is expected to witness significant growth during the forecast period.  

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 According to UnivDatos Market Insights (UMI)’ research report “global antipsychotic drugs market”, the market is expected to witness robust growth during the forecast period 2021-2027F. This is mainly due to the increasing aging population and mental health disorders, such as schizophrenia and bipolar disorder amongst the population, and awareness regarding the mental health among consumers. For Instance, in March 2020 Dr. Reddy’s Laboratories announced the launch of Ziprasidone Mesylate for injection, 20 mg (base)/ml single-dose vials, which is the generic therapeutic equivalent of Pfizer’s Geodon injection, in the United States. The ziprasidone injection is used to treat occurrences of severe agitation in patients with schizophrenia. Thus, it works by helping to restore the balance of certain natural substances (neurotransmitters) in the brain. Furthermore, ziprasidone injection is used when quick relief of your symptoms is required. Therefore, the market for antipsychotic drugs is expected to witness a significant CAGR of 7.3% during the forecast period.

Based on therapeutic class, the market is classified into first generation, second generation, and third generation. Amongst types, the second-generation category accounted for a significant share of the market. This is mainly due to its use for the treatment of schizophrenia, and it has quickly begun replacing older, first-generation antipsychotics. This second-generation class drug named atypical antipsychotics include clozapine, risperidone, sertindole, asenapne, olanzapine, paliperidone, and quetiapine, which are used for the treatment of schizophrenia and have quickly begun replacing older, first-generation antipsychotics.

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Based on distribution channels, the market is categorized into hospital pharmacies, retail pharmacies, online pharmacies, and others. Among these, hospital pharmacies are expected to witness the highest CAGR during the forecast period. The hospital pharmacies are widely used for easy access to antipsychotic drugs because the prescriptions for antipsychotics can only be administered after a thorough medical examination. The high growth of this segment can be attributed to the inclination of patients and many patients will spend significant periods of time in hospital.

North America to witness extensive growth

For a better understanding of the market adoption of the antipsychotic drugs industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Spain, and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. North America is expected to witness a significant CAGR during the forecast period on account of growing antipsychotic drugs and medical treatment activities in countries like the U.S. and Canada. Furthermore, according to the Anxiety and Depression Association of America, anxiety disorders are the most common mental illness in the U.S., affecting 40 million adults in the United States age 18 and older, or 18.1% of the population every year. The awareness programs regarding the psychiatric illness industry owing to the presence of well-established market players and frequent product launches in the region. Furthermore, many medical and antipsychotic drugs company are headquartered in the region, which are now focusing on coming up with novel drugs for the treatment of this disease. Furthermore, the increasing prevalence of neurological disorders, new product launches, and various developmental strategies adopted by the regional market will drive market growth.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Antipsychotic drugs market are Eli Lily and Company, AstraZeneca plc, GlaxoSmithKline plc, Johnson & Johnson, Otsuka Pharmaceutical Co, Ltd., Pfizer Inc., AbbVie Inc., Bristol-Myers Squibb, Teva Pharmaceuticals, Dr. Reddy’s Laboratories are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

 

“Global antipsychotic drugs Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

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Market Segmentation:

1.      By Therapeutic Class (First Generation, Second Generation, and Third Generation)

2.      By Application (Schizophrenia, Dementia, Bipolar Disorder, Depression, and Others)

3.      By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (Eli Lily and Company, AstraZeneca plc, GlaxoSmithKline plc, Johnson & Johnson, Otsuka Pharmaceutical Co, Ltd., Pfizer Inc., AbbVie Inc., Bristol-Myers Squibb, Teva Pharmaceuticals, Dr. Reddy’s Laboratories.)

Key questions answered in the study:

1.      What are the current and future trends of the global antipsychotic drugs industry?

2.      How the industry has been evolving in terms of technology and application?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global antipsychotic drugs industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global antipsychotic drugs suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 IMPACT OF COVID-19 ON THE NEGATIVE PRESSURE WOUND THERAPY (NPWT) DEVICES MARKET

6 GLOBAL ANTIPSYCHOTIC DRUGS MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY THERAPEUTIC CLASS

8 MARKET INSIGHTS BY APPLICATION

9 MARKET INSIGHTS BY DISTRIBUTION CHANNEL

10 MARKET INSIGHTS BY REGION

11 ANTIPSYCHOTIC DRUGS MARKET DYNAMICS

12 ANTIPSYCHOTIC DRUGS MARKET OPPORTUNITIES

13 ANTIPSYCHOTIC DRUGS MARKET TRENDS

14 POLICY & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY-SIDE ANALYSIS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

19 DISCLAIMER

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