Antipsychotic Drugs Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Antipsychotic Drugs Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Antipsychotic Drugs Market

The Antipsychotic Drugs Market size was valued at USD 16.14 billion in 2023, and the market is now projected to grow from USD 17.32 billion in 2024 to USD 26.48 billion by 2032, exhibiting a CAGR of 5.4%during the forecast period of 2024-2032.

Antipsychotic Drugs Market Growth remained positive during COVID-19, and all thanks to tele-medicinal approach of healthcare sector. Due to lockdown measures and growing case of virus has made situation difficult in the hospitals, and to address this challenge professional have shifted to telemedicine for the management of psychotic diseases, led to high adoption rates for these medications to cope with the symptoms, and the market reported stabilized situation for the forecast period (2024-2032) as well.

The psychotic disorders are rising all around the global and demand for the Antipsychotic drug is increasing. With increasing number of patients and market expansion, the Antipsychotic Drugs Market Share is rising in the charts. World Health Organization reported that by 2030, mental disorders are projected to cost the global economy around USD 6.0 trillion. As compared to old times, people are more vocal about their mental health and conditions, and this awareness is leading to high demand for treatments. CDC reported that 1 in 5 adults are facing mental illness issues in U.S. with high rates of schizophrenia and bipolar disorder, due to which regions pharmaceutical giants are developing new medications, with latest product launches, eventually leading the market growth.

People are being more vigilant and vocal about the mental diseases and they need better treatment. This put lots of pressure in healthcare sector and rises their economic burden for better Research and Development of Antipsychotic Drugs. There has been big changes in R&D processes for these drugs, as many people who have been prescribed antipsychotics do not follow the guidelines, leading to relapses. To get through this challenge, biopharmaceutical companies are developing long-acting injectable versions of these drugs, for an instance, in November 2022, MedinCell and Teva Pharmaceutical Industries Ltd, submitted a new drug application for mdc-IRM. This drug is a long-acting injectable for schizophrenia treatment, which work like daily pills and they do not need daily monitoring, this makes them preferable choice for treatment.

Comprehensive Analysis of Antipsychotic Drugs Market

The Antipsychotic Drugs Market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated By Disease Analysis, By Therapeutic Class Analysis, By Drug Analysis, and By Distribution Channel Analysis. The types of disease include, Schizophrenia, Bipolar Disorder, Unipolar Depression, Dementia, & Others; by type of drug includes Risperidone, Quetiapine, Olanzapine, Aripiprazole, Brexpiprazole, Paliperidone Palmitate, & Others; by type of therapeutic includes First Generation, Second Generation, & Third Generation; by type of distribution channel includes Hospital Pharmacies, Drug Stores & Retail Pharmacies, & Online Pharmacies.

North America reported USD 9.98 billion in 2023, and leading the market at global level. The major contributor for this market growth is high number of psychotic illness related patients present here, and to treat them big biopharmaceutical companies are also operating in the region. According to the report of National Alliance on Mental illness, 2.8% of American have bipolar disorder that is 7 million people which is huge number of population. With awareness regarding mental health, region has high adoption rates for advanced antipsychotics, contributing to its market growth.

The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, H. Lundbeck A/S (Denmark), Otsuka Pharmaceutical Co., Ltd. (Japan), Janssen Pharmaceuticals, Inc. (Johnson & Johnson) (Belgium), Eli Lilly and Company (U.S.), ALLERGAN (AbbVie, Inc.) (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Dr. Reddy’s Laboratories Ltd. (India), Sumitomo Dainippon Pharma Co., Ltd. (Japan), Alkermes plc (Ireland), Bristol-Myers Squibb Company (U.S.), these market players provide a level-playing competitive landscape.

January 2024: In EU & U.S., Teva Pharmaceutical Industries Ltd., reported that they have finished enrolling 640 participants for the phase 3 clinical trial of mdc-TJK (TEV-44749), and this is the trial test of the antipsychotic olanzapine for treating schizophrenia, which is once in monthly injection.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.4% from 2024-2032

Unit Value (USD billion)

Segmentation By Disease

Schizophrenia

Bipolar Disorder

Unipolar Depression

Dementia

Others

By Drug

Risperidone

Quetiapine

Olanzapine

Aripiprazole

Brexpiprazole

Paliperidone Palmitate

Others

By Therapeutic Class

First Generation

Second Generation

Third Generation

By Distribution Channel

Hospital Pharmacies

Drug Stores & Retail Pharmacies

Online Pharmacies

By Region

North America (By Disease, By Drug, By Therapeutic Class, By Distribution Channel, By Country)

- U.S. (By Disease)

- Canada (By Disease)

Europe (By Disease, By Drug, By Therapeutic Class, By Distribution Channel, By Country/Sub-Region)

- Germany (By Disease)

- U.K. (By Disease)

- France (By Disease)

- Italy (By Disease)

- Spain (By Disease)

- Scandinavia (By Disease)

- Rest of Europe (By Disease)

Asia Pacific (By Disease, By Drug, By Therapeutic Class, By Distribution Channel, By Country/Sub-Region)

- China (By Disease)

- Japan (By Disease)

- India (By Disease)

- Australia (By Disease)

- Southeast Asia (By Disease)

- Rest of Asia Pacific (By Disease)

Latin America (By Disease, By Drug, By Therapeutic Class, By Distribution Channel, By Country/Sub-Region)

- Brazil (By Disease)

- Mexico (By Disease)

- Rest of Latin America (By Disease)

Middle East & Africa (By Disease, By Drug, By Therapeutic Class, By Distribution Channel, By Country/Sub-Region)

- GCC (By Disease)

- South Africa (By Disease)

- Rest of Middle East & Africa (By Disease)


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