The antipsychotic drugs global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Antipsychotic Drugs Market, 2024 The antipsychotic drugs global market report 2024
Market Size –
The antipsychotic drugs market size has grown strongly in recent years. It will grow from $17.82 billion in 2023 to $19.5 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to the rising prevalence of mental health disorders, development of second-generation antipsychotics, growing geriatric population, improvements in healthcare infrastructure, and high investment in research and development.
The antipsychotic drugs market size is expected to see strong growth in the next few years. It will grow to $28.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to the increasing incidence of schizophrenia and bipolar disorder, supportive government policies and funding, rising demand for personalized medicine, focus on reducing side effects, and growing mental health advocacy and support groups. Major trends in the forecast period include integration of digital health tools for monitoring, development of novel mechanisms of action, increasing focus on combination therapies, adoption of pharmacogenomics for tailored treatments, emphasis on patient-centric drug development.
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Scope Of Antipsychotic Drugs Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Antipsychotic Drugs Market Overview
Market Drivers –
The growing incidence of mental disorders is likely to propel the growth of the antipsychotic drug market in the foreseeable future. Mental disorders, often referred to as mental illnesses, are conditions that significantly impact a person’s thinking, behavior, mood, and overall mental health. The cases of mental disorders are influenced by various factors, including stress levels, societal pressures, genetic predisposition, biochemical imbalances, neurodevelopmental issues, and physical health conditions. Antipsychotic drugs function by modifying the activity of neurotransmitters, primarily dopamine and serotonin, to mitigate psychotic symptoms, stabilize mood, and enhance cognitive and emotional functions. For example, in November 2023, a survey conducted by the Substance Abuse and Mental Health Services Administration (SAMHSA), a U.S. government agency for public health, indicated that approximately 6% of adults aged 18 or older, which equates to 15.4 million individuals, reported experiencing serious mental illness (SMI). Additionally, a survey conducted in December 2022 with 69,850 respondents aged 12 or older found that 5.5% of adults aged 18 and older, or 14.1 million people, were affected by mental illness in 2021. Therefore, the rising incidence of mental disorders is driving growth in the antipsychotic drug market.
Market Trends –
Major companies operating in the antipsychotic drug market are focused on developing advanced medical products, such as subcutaneous atypical antipsychotic injections, to offer improved patient compliance and enhanced efficacy compared to traditional oral medications. Subcutaneous atypical antipsychotic injections are psychiatric drugs that are given under the skin to treat mental illnesses, maintain stable blood levels, and improve symptom control. For instance, in April 2023, Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company, and MedinCell SA, a France-based manufacturer of biological products and pharmaceutical preparations, launched U.S. Food and Drug Administration (FDA)-approved UZEDY. It is an extended-release injectable formulation of risperidone designed as a long-acting subcutaneous injection that offers flexible dosing intervals of one or two months. UZEDY utilizes MedinCell’s proprietary SteadyTeq technology, which ensures a steady release of the medication, reaching therapeutic levels within 6–24 hours of administration. In clinical trials, UZEDY demonstrated up to an 80% reduction in the risk of schizophrenia relapse compared to placebo. It is intended to address adherence issues commonly associated with oral antipsychotics, which often lead to relapse.
The antipsychotic drugs market covered in this report is segmented –
1) By Therapeutic Class: First Generation, Second Generation, Third Generation
2) By Disease: Schizophrenia, Bipolar Disorder, Unipolar Depression, Dementia, Other Diseases
3) By Distribution Channel: Hospital Pharmacies, Drug Stores, Online Pharmacies
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Regional Insights –
North America was the largest region in the antipsychotic drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the antipsychotic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Pfizer Inc., Johnson & Johnson Services Inc., Merck And Co. Inc., AbbVie Inc., Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly And Company, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co. Ltd., Aurobindo Pharma Ltd., Cipla Ltd., H. Lundbeck A/S, Dr. Reddy’s Laboratories Ltd., Intas Pharmaceuticals Ltd., Apotex Inc., Lupin Limited, Glenmark Pharmaceuticals Ltd., Torrent Pharmaceuticals Ltd., Alkermes plc
Table of Contents
1. Executive Summary
2. Antipsychotic Drugs Market Report Structure
3. Antipsychotic Drugs Market Trends And Strategies
4. Antipsychotic Drugs Market – Macro Economic Scenario
5. Global Antipsychotic Drugs Market Size and Growth
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32. Global Antipsychotic Drugs Market Competitive Benchmarking
33. Global Antipsychotic Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Antipsychotic Drugs Market
35. Antipsychotic Drugs Market Future Outlook and Potential Analysis
36. Appendix
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