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Antipsychotic Drugs Market to Reach USD 14.05 Billion with CAGR of 2.41% by 2023

Industry Outlook and Trend Analysis

The global Antipsychotic Drugs Market was worth USD 11.34 billion in 2014 and is expected to reach approximately USD 14.05 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 2.41% during the forecast period. Developing predominance of psychosis and associated diseases is driving the requirement for antipsychotic drugs. The main considerations contributing towards the developing rate of these diseases incorporate substance-induced psychoses, physical illness resulting in depression, and genetic mutations. The advent of more up to date antipsychotic compounds and immense speculations for R&D are boosting the market development. Likewise, expanding initiatives taken by the market players to extend remedial usage of these drugs are foreseen to make opportunities for the development of antipsychotics in the following years, accordingly boosting the demand.

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Drug Class Outlook and Trend Analysis

The second generation represents the biggest share in the market. This class defined as atypical antipsychotics includes risperidone, clozapine, asenapne, olanzapine, sertindole, paliperidone, quetiapine. These are useful in the treatment of schizophrenia and have rapidly begun replacing the first-generation antipsychotics. The third generation, aripiprazole (Abilify) is used for the treatment of schizophrenia and is also used as maintenance drug for this disease.

Application Outlook and Trend Analysis

The antipsychotics are useful in treating schizophrenia, major depression (unipolar), different types of bipolar disorders, dementia, and other psychotic issues. These products have first-line remedial applications amid treatment and maintenance periods of schizophrenia. The etiology of schizophrenia is as yet obscure; in this way the treatment fundamentally goes for disposing of the indications of the ailment. The usage of antipsychotics in treating schizophrenia represents the biggest income share.

Regional Outlook and Trend Analysis

North America ruled the market by holding the biggest income share in 2015. As indicated by the Anxiety and Depression Association of America, around 6.7% of the U.S. populace aged 18 years or more was experiencing real depression in 2016.Asia Pacific is foreseen to display the speediest development in the following because of rising social awareness with respect to psychotic disorders and other related issue, for example, bipolar (mania), major depression, and anxiety.

Competitive Insights

The leading players in the market are AstraZeneca, Pfizer, Bristol-Myers Squibb, Johnson & Johnson, Allergan, Eli Lilly and Company and GlaxoSmithKline. Competition in the market is foreseen to increase in the following years since a few organizations are presently concentrating on advancement of more up to date and better antipsychotics with lesser or immaterial unfavourable impacts to increase upper hand over others.

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The Antipsychotic Drugs Market is segmented as follows-

By drug Class:

First Generation
Second Generation
Third Generation

By Application:

Unipolar depression
Dementia
Schizophrenia
Bipolar disorder
Others

By Region:

  • North America
  1. US
  2. Canada
  3. Mexico
  • Europe
  1. Germany
  2. UK
  3. France
  4. Russia
  5. Italy
  6. Rest of Europe
  • Asia-Pacific
  1. China
  2. Japan
  3. South Korea
  4. India
  5. Southeast Asia
  6. Rest of Asia-Pacific
  • South America
  1. Brazil
  2. Argentina
  3. Columbia
  4. South Africa
  5. Rest of South America
  • Middle East and Africa
  1. Saudi Arabia
  2. UAE
  3. Egypt
  4. Nigeria
  5. South Africa
  6. Rest of MEA

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Some of the key questions answered by the report are:

  • What was the market size in 2014 and forecast from 2015 to 2023?
  • What will be the industry market growth from 2015 to 2023?
  • What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
  • What are the major segments leading the market growth and why?
  • Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?