Antipsychotic Drugs Market Research Report: Information by Generation (First Generation, Second Generation), Types of Antipsychotics (Atypical Antipsychotics, Miscellaneous Antipsychotics Agents), Therapeutic Applications(Schizophrenia, Anxiety, Bipolar Disorder) and Region (the Americas, Europe, Asia-Pacific, and the Middle East & Africa) - Forecast till 2027
Psychosis is a collective term used to cover are a group of disorders that are regarding the serious distortion of behavior, thought, recognition of reality, and perception. Drugs that are useful for treating psychosis are called antipsychotic drugs. A new report on the global antipsychotic drugs market, published by Market Research Future (MRFR), assays that this market can touch success at 4.3% CAGR between 2017 and 2022. In terms of money value, the market can be worth USD 18.5 Bn by the end of the forecast period.
Assaying the market structure, this report accounts the future growth potential of the market. It characterizes the strategies of the topmost market players in the market and supports the competitive developments like research & developments (R&D), mergers & acquisitions, new product developments, and joint ventures, in the market.
The most significant market driving factor for the global antipsychotic drugs market growth is unmet medical needs of an order of 35% and 50% of people with mental disorders. Increasing the focus of governments and health care organizations on mental health is also boosting the market. Other factors contributing to the global antipsychotic drugs market growth include research & development research & development (R&D) on many antipsychotic drugs. However, some factors that can hinder the global antipsychotic drugs market growth include social stigma faced by patients, poor drug development pipeline, and a strict regulatory framework. The side effects of antipsychotic drugs range from drowsiness, insomnia, vomiting to the high addiction rate. Hence, many patients hesitate to use these drugs. The poor efficiency and efficacy of antipsychotic drugs also hurt its market growth.
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Market Segmentation
The global antipsychotic drugs market segmentation encompasses generations and therapeutic applications. MRFR’s take on the market surveys various facets of the market in-depth.
The generations-based segmentation of this market covers the first generation, second generation, and third generation. Regarding therapeutic applications, the market has been segmented into bipolar disorder, dementia, depression, schizophrenia, and others.
Regional Segmentation
A geographical outlining of the global antipsychotic drugs market covers the Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA).
The Americas is the largest regional market as North America alone holds the potential of being a dominant market due to heavy investment in the R&D related to medicines and drugs. Due to technological advancements and availability of advanced medical facilities, North America is a bigger regional market segment than South America. USA and Canada generate maximum market revenue in this region. Many important key market players are based in the USA. Two most important market driving factors in this region are excellent reimbursements scenario in the USA and the rapid uptake of new drug molecules. Most of the crucial market players are based in the USA.
Europe is the second-largest regional market due to the high density of population and other reasons being the same as in North America. The most powerful country-specific markets in Europe are France, Germany, Italy, Spain, and the UK. An inspection of the remaining countries in Europe featured in this report speculate the huge contribution to market revenue from some other countries in this region.
During the forecast period, the Asia Pacific region can be the fastest growing regional market high density of population, improving healthcare facilities, and government efforts to improve healthcare, especially in China and India. Other pivotal country-specific markets in this region are Japan and South Korea. An observation of the remaining countries in the Asia Pacific region featured in this report calculates the huge addition to market revenue from some other countries.
The MEA region holds the lowest share in the global market due to poor medical facilities and lack of skilled professionals.
Key Players
Big players in the global antipsychotic drugs market AstraZeneca (UK), Bristol-Myers Squibb (USA), Eli Lilly and Company (USA), GlaxoSmithKline PLC (UK), Johnson & Johnson (USA), and Pfizer Inc. (USA).
Latest Industry News
ACADIA Pharmaceuticals Inc. has announced its Phase 3 HARMONY study. This is going to be a double-blind, placebo-controlled relapse prevention trial that would evaluate pimavanserin for the treatment of dementia-related psychosis.
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