The Global Antipsychotic Drugs Market to Register Growth at a CAGR of ~7% by 2027 | DelveInsight

The antipsychotic drugs market is expanding rapidly due to the increasing prevalence of mental disorders such as schizophrenia, schizoaffective disorder, bipolar disorder, severe depression, psychotic symptoms of a personality disorder, and others. Furthermore, the growing geriatric population base prone to mental disorders, the increased focus of governments and healthcare organizations on mental health, the increasing demand for long-acting injectables, and other factors will contribute to an increase in demand for antipsychotic drugs.

LAS VEGAS, Feb. 2, 2023 /PRNewswire/ -- DelveInsight's Antipsychotic Drugs Market Insights report provides the current and forecast market analysis, individual leading antipsychotic drugs companies' market shares, challenges, antipsychotic drugs market drivers, barriers, and trends, and key antipsychotic drugs companies in the market.

Key Takeaways from the Antipsychotic Drugs Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global antipsychotic drugs market during the forecast period. 
• Notable antipsychotic drugs companies such as Eli Lily and Company, Janssen Global Services, LLC, Pfizer Inc., Otsuka Pharmaceutical Co., Ltd., Alkermes, Inc., Dr. Reddy's Laboratories Ltd., AbbVie Inc., Sun Pharmaceutical Industries Ltd., Amneal Pharmaceuticals LLC., Alvogen., Hikma Pharmaceuticals PLC, Viatris Inc., Bayer AG, Bristol-Myers Squibb Company, Cardinal Health Inc., Sanis Health Inc., H. Lundbeck A/S, Elikem Pharmaceuticals Pvt Ltd, Devlife Corporation Private Limited., GSK plc, and several others are currently operating in the antipsychotic drugs market.
• In October 2022, Acer Therapeutics Inc. announced the expansion of ACER-801 (osanetant) into a new indication for the reduction of the frequency and severity of acute stress disorder and post-traumatic stress disorder (PTSD). 
• In September 2022, atai Life Sciences N.V., which is developing EMP-01, a 3,4-methylenedioxy-methamphetamine (MDMA) derivative for the treatment of post-traumatic stress disorder (PTSD) and other indications, announced its Phase I study has received regulatory and ethics approvals required from Medsafe and HDEC, respectively, to initiate participant enrollment.
• In May 2022, Beckley Psytech Limited and Lophora ApS announced the companies had entered into a research and development collaboration. Under the terms of the agreement, Beckley Psytech will jointly fund continuing development of the Lophora pipeline and collaborate broadly on R&D.

To read more about the latest highlights related to the antipsychotic drugs market, get a snapshot of the key highlights entailed in the Global Antipsychotic Drugs Market Report

Antipsychotic Drugs Overview

Antipsychotics are psychiatric medications used to treat various psychotic symptoms such as delusions, hallucinations, or mania symptoms. Antipsychotic drugs are administered in various ways, the most common of which is orally, in liquid, or in tablet form. Certain antipsychotic medications are also prescribed as depot injections. This route of administration slowly releases the medication in a slow-acting form, and the injection is given every few weeks. Antipsychotic medications are used to regulate brain circuit functions that control perception, thinking, and mood.

Based on their specific activity and neurotransmitter receptor affinity, antipsychotic drugs are classified as conventional antipsychotics, 2nd-generation antipsychotics (SGAs), and 3rd-generation antipsychotics. SGAs have several advantages in terms of efficacy and minimal side effects. According to recent research studies, new antipsychotic drugs such as muscarinic agonists and trace amines with novel actions, SGAs, account for most antipsychotics prescribed in the United States.

Antipsychotic Drugs Market Insights

North America dominated the global antipsychotic drugs market in 2021 and will continue to do so during the forecast period of 2022–2027. This can be attributed to the region's increasing demand for antipsychotic drugs due to the region's increasing prevalence of various mental disorders. Furthermore, the increasing activities by the key players in the region will, in turn, increase the demand for the product during the forecast period. For instance, in May 2022, Beckley Psytech Limited and Lophora ApS announced the companies had entered into a research and development collaboration. Under the terms of the agreement, Beckley Psytech will jointly fund continuing development of the Lophora pipeline and collaborate broadly on R&D.

In addition, the country's market players are constantly focusing on the development of novel drugs to treat mental disorders indications with antipsychotic drugs, as well as various strategies to develop better drugs with fewer side effects. As a result, the antipsychotic drugs market in the region is likely to be driven by this. For example, Zydus Lifesciences' US subsidiary Zydus Pharmaceuticals (USA) Inc. received final approval from the US Food and Drug Administration (USFDA) in September 2022 to market Cariprazine Capsules, USP 1.5 mg, 3 mg, 4.5 mg, and 6 mg. Cariprazine is an atypical antipsychotic that is used to treat schizophrenia as well as acute manic or mixed episodes associated with bipolar I disorder.

To know more about why North America is leading the market growth in the antipsychotic drugs market, get a snapshot of the Antipsychotic Drugs Market Outlook 

Antipsychotic Drugs Market Dynamics

According to the World Health Organization (WHO) 2022, 1 in every 8 people, or 970 million people worldwide, had a mental disorder in 2019, with anxiety and depressive disorders being the most common. In 2019, the WHO estimated that nearly 40 million people had bipolar disorder and nearly 40 million people, including children and adolescents, had conduct disorder. Thus, based on the statistics presented above, it is possible to conclude that the prevalence of mental disorders is very high around the world, increasing the demand for antipsychotic drugs used to treat the disorders, as mentioned earlier.

In addition, numerous research and development initiatives aimed at developing these medications have been launched in recent years. R&D is carried out to improve the safety and efficacy of such drugs. Furthermore, increased awareness resulted in increased adoption of these drugs in key countries, significantly increasing antipsychotic drugs market growth in key countries.

Moreover, antipsychotic drug clinical trials are expected to advance the drug development process significantly. Thus, rising awareness, combined with new launches based on innovative R&D are expected to drive market growth for antipsychotic drugs between 2022–2027.

However, the high cost of drug development and launch, addiction caused by antipsychotic drugs, and the stringent regulatory approval process may stall the antipsychotic drugs market growth.

Additionally, during the COVID-19 pandemic, the antipsychotic drugs market was moderately impacted. During the early stages of the pandemic, sales of antipsychotics plummeted due to strict lockdown rules, disruption in manufacturing, and supply. However, the government classified medicines and drugs as emergency products, which increased their demand or sales. Furthermore, the involvement of online pharmacies increased the sale of many over-the-counter medicines, impacting the antipsychotic drugs market.

Get a sneak peek at the antipsychotic drugs market dynamics @ Antipsychotic Drugs Market Dynamics Analysis

Antipsychotic Drugs Market Assessment

• Antipsychotic Drugs Market Segmentation
• Market Segmentation By  Indication: Schizophrenia, Bipolar Disorder, Unipolar Disorder, Dementia, and Others
• Market Segmentation By  Drug Class: First Generation Or Typical Antipsychotics (Haloperidol, Prochlorperazine, and Others), Second Generation Or Atypical Antipsychotics (Clozapine, Risperidone, and Others), Third Generation (Abilify and Others)
• Market Segmentation By  Distribution Channel: Hospital Pharmacy, Retail Pharmacy, and E-Commerce
• Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

Which MedTech key players in the antipsychotic drugs market are set to emerge as the trendsetter explore @ Antipsychotic Drugs Companies 

Table of Contents 

Interested in knowing the antipsychotic drugs market by 2027? Click to get a snapshot of the Antipsychotic Drugs Market Trends

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