Global Antipsychotic Drugs Market – Industry Trends and Forecast to 2029

Antipsychotic Drugs Market Analysis and Size

The antipsychotic drugs market is expected to witness significant growth during the forecast period. The growth of antipsychotic drugs market enhanced by the growing cases of mental illness such as dementia and schizophrenia and the rise in research and development activities conducted by many pharmaceutical companies. Growing cases of severe pain associated with cancer and arthritis drive the narcotic drug market. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the antipsychotic drugs market in the forecast period 2022-2029. The expected CAGR of antipsychotic drugs market is tend to be around 8.5% in the mentioned forecast period. The market was valued at USD 13,473.10 million in 2021, and it would grow upto USD 25805.39 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Antipsychotic drugs, also termed as neuroleptics or major tranquilizers, are the class of CNS therapeutics widely used to concomitant relief from psychosis and other mental illness symptoms by interrupting the activity of dopaminergic pathways of the brain. It is of great importance to the healthcare sector and it is expected to grow in the forecast period.  

Global Antipsychotic Drugs Market Scope and Segmentation

Global Antipsychotic Drugs Market Dynamics

Drivers

• Increase in Bipolar Disorders

According to the reports of Medscape in 2019, the incidence rate of bipolar disorder was predicted to be around 0.3–1.5%. However, in recent years, the prevalence of the bipolar disorder has increased substantially. This boost the market growth.

• Rising Demand for Oral Drugs

Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global market as most products are available in capsule and tablet form and it is a very feasible route of administration.

Opportunities

• Increased Patient Population and Clinical Trials

The increasing patient pool contributed to an increase in R&D initiatives of novel antipsychotic drugs. More and more clinical trials of these drugs support drug development, which is likely to boost the market growth. Additionally, the rising adoption of Long-Acting Injectables to cope with these illnesses is estimated to flourish in growth for the market.

• Increasing Demand for Retail Pharmacies

The rise in the number of antipsychotic drugs delivered through retail pharmacies and the surge in the number of retail pharmacies in developed countries create opportunities for the market growth. In addition to this, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.

 Restraints/Challenges

• Lack of skilled professionals

The lack of qualified personnel who are unable to treat the patients with these agents could curb the growth of the global antipsychotic drugs market over a forecast period.

• High Cost

The huge expenditure associated with these agents surely hamper the market growth.

This antipsychotic drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the antipsychotic drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Antipsychotic Drugs Market         

Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business. Its long-term repercussions are expected to influence industry growth during the forecast period. Transition of healthcare infrastructure toward managing COVID-19 has led to drug launch cancellations and delays in clinical trials. A number of general hospital psychiatric wards have been changed into COVID-19 wards, so many severely ill people are moved out.

In the post-pandemic era, changes are witnessed in these patterns such as increased wards being divided and non-covid patients being equally categorised. The socioeconomic stressors have also boosted the demand for these drugs. Thus, this will leave a significant impact on the narcotic drugs market.

Recent Developments

Janssen Pharmaceutical received approval from the European Commission (EC) in November 2021 for long-acting atypical antipsychotic therapy BYANNLI which is used as a treatment for patients, preferably adults, suffering from schizophrenia, who are clinically stable on 1-monthly paliperidone palmitate or 3-monthly paliperidone palmitate.

Global Antipsychotic Drugs Market Scope

The antipsychotic drugs market is segmented on the basis of indication, drug class, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Indication

• Schizophrenia
• Bipolar Disorders
• Major Depression
• Dementia
• Others

Drug Class

• First Generation
• Second Generation
• Third Generation

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Antipsychotic Drugs Market Regional Analysis/Insights

The antipsychotic drugs market is analysed and market size insights and trends are provided by indication, drug class, distribution channel and end-user as referenced above.

The major countries covered in the antipsychotic drugs market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the market due to the developing healthcare facilities, large number of generic manufacturer and rise in government initiatives and specialist communities.

North America has been witnessing a positive growth for antipsychotic drugs market throughout the forecasted period due to the high prevalence of mental illness and increase in number of FDA approval drugs.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Antipsychotic Drugs Market Share Analysis

The antipsychotic drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to antipsychotic drugs market

Key players operating in the antipsychotic drugs market include:

• Johnsons & Johnsons Services Inc (U.S.)
• Boehringer Ingelheim International GmbH (Germany)
• Sun Pharmaceutical Industries Ltd. (India)
• Sanofi (France)
• AstraZeneca (U.K.)
• GlaxoSmithKline Plc. (U.K.)
• Novartis AG (Switzerland)
• Pfizer Inc. (U.S.)
• Amneal Pharmaceuticals LLC. (U.S.)
• Alvogen (U.S)
• Hikma Pharmaceuticals PLC (U.K.)
• Mylan N.V. (U.S.)
• Janssen Global Services, LLC (Belgium)
• Bristol Myers Squibb Company (U.S.)
• Bayer AG (Germany)

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