Scope of the Report
The report defines all significant market aspects with experts’ opinions on current and historical data. The report also covers market statistics, investment opportunities, gross margins, competitive analysis, top business strategies, and a comprehensive assessment of the COVID 19 impacts on market growth.
Overview
The global Antipsychotic Drugs Market is not just growing but proliferating. Heady lifestyle is the root cause of many psychosomatic diseases and disorders, such as schizophrenia, anxiety, bipolar disorder, depression, dementia, and so on. Generally linked to seizures, lack of sound sleep, and gastrointestinal (GI) distress, the mental imbalance affects the lives of several children and adults.
People are increasingly falling prey to the changing lifestyle that leaves no room for relaxation, leaving them sleep deprived & frustrated. This, as a result, fuels the prevalence of mental disorders. Fortunately, several breakthrough antipsychotic drugs are available in the market to treat psychological issues growing at an alarming rate. With advances in technologies, many promising antipsychotic medicines are being developed, which can offer favourable outcomes.
Therefore, the size of the antipsychotic drugs market is increasing profusely. According to Market Research Future (MRFR), the global antipsychotic drugs market held a value of USD 18.5 MN in 2018, which is projected to grow further at 4.5% CAGR during the forecast period (2019 – 2025). Technological advances transpired in the field of drug development, and manufacturing techniques provide impetus to market growth. Efforts and investments made by industry players to bring those improvements are rather seminal.
Additional factors that substantiate the market growth include the ever-increasing population and prevailing addictions such as alcohol, narcotics, etc. that eventually lead to mental disorders. Also, increasing funding initiatives taken by governments worldwide play a causal role in the development of the market. Conversely, prohibiting cost of treatments and unmet medical needs are major factors expected to act as a headwind for the market growth. Moreover, the lack of awareness in certain regions is anticipated to restrict market growth.
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Global Antipsychotic Drugs Market – Segmentations
The report is segmented into four dynamics;
By Therapeutic Applications: Schizophrenia, Anxiety, Bipolar Disorder, Depression, Dementia, and others.
By Generation : First Generation, Second Generation, Third Generation, and others.
By End User : Hospitals & Clinics, Research Institutes, and others.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
Global Antipsychotic Drugs Market – Regional Analysis
North America dominates the global antipsychotic drugs market. The largest market share attributes to the prevailing psychosomatic diseases & disorders among demographics, such as schizophrenia, anxiety, bipolar disorder, depression, dementia, and others. Besides, increased spending on R&D and drug discoveries, alongside the rising demand for mental disorders & depression treatments, foster the regional market growth.
The US holds the largest share in the regional market due to its high numbers of patients suffering from mental illness. Technological advances and improvements in drug development techniques boost regional market growth. The North American antipsychotic drugs market is expected to retain its dominance throughout the assessment period.
Europe stands second in the global antipsychotic drugs market. The market is driven by increasing investments in R&D and for the development of effective medicines and therapeutics. Also, increasing stress, depression, and hectic work schedules that cause mental illnesses increase the market demand exponentially.
Moreover, increasing initiatives and funding by private and public sectors for discoveries of drugs to develop treatments that can give greater outcomes, act as a significant tailwind for the market growth. The European antipsychotic drugs market is expected to register a fabulous CAGR during the forecast period.
The Asia Pacific antipsychotic drugs market is growing rapidly. Factors such as the growing awareness about the treatment methods for mental health and rising governmental funding boost market growth. Additionally, the vast patient pool suffering from mental disorders, the growing geriatric population with Alzheimer’s disease and dementia in the region drive the market growth. The APAC antipsychotic drugs market is estimated to emerge as the fastest-growing market during the forecast period.
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Global Antipsychotic Drugs Market – Competitive Analysis
Highly competitive, the global antipsychotic drugs market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch. Also, these players invest substantially to discover breakthrough medicines and therapeutics. A large share of investments goes to clinical trials and to expand global footprints.
Major Players
Players leading the global antipsychotic drugs market include Bristol-Myers Squibb (US), Eli Lilly & Co. (US), AstraZeneca (UK), GlaxoSmithKline Plc. (UK), Pfizer Inc. (US), and Johnson & Johnson (US), among others.
Industry/Innovation/ Related News:
December 23, 2019 —– Intra-Cellular Therapies, Inc. (the US), a biopharmaceutical company, announced that the US FDA has approved its novel antipsychotic drug – CAPLYTA (lumateperone) for the treatment of schizophrenia in adults. The Company also claims that CAPLYTA can be used to develop treatments for bipolar depression, behavioral disturbances in dementia patients, Alzheimer’s disease, depression, and other neuropsychiatric and neurological disorders.
The Company expects to launch CAPLYTA in late Q1 2020. Intra-Cellular Therapies is focused on the development of therapeutics for central nervous system (CNS) disorders. It is currently developing novel drugs for the treatment of neuropsychiatric and neurodegenerative diseases of the elderly, including Parkinson’s and Alzheimer’s.
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