Antipsychotic Drugs Market Growth & Trends
The global antipsychotic drugs market size is expected to reach USD 24.97 billion by 2030, growing at CAGR of 6.1% from 2024 to 2030. The continuous development of better next-generation products to overcome adverse effects and unwanted reactions of existing products is creating demand for newer products. This factor is anticipated to propel the market.
Rapid growth of antipsychotics can be attributed to the rising prevalence of psychosis and other mental disorders. Governments are focused on creating awareness regarding mental health and psychological illnesses, which is further anticipated to drive the demand for antipsychotics. Government bodies in collaboration with major players conduct social programs to break the stigma related to psychotic disorders that exists in the society.
Adverse effects of antipsychotics, such as insomnia, dry mouth, drowsiness, and blurred vision, are expected to affect the growth by decreasing the level of acceptance in patients. In addition, the possibility of dependency, habit formation, or addiction is affecting the adoption of these drugs.
Established brands such as, Zyprexa lost patent protection in October 2011, followed by Seroquel and Risperdal in 2012, which hampers the market growth for these drugs. Also, the entry of generic versions of these products slowed the growth of the already existing brands.
Antipsychotic Drugs Market Report Highlights
- Schizophrenia accounted for the largest market revenue share of 39.2% in 2023. Schizophrenia is a serious mental illness that impacts a significant amount of individuals worldwide.
- Aripiprazole accounted for the largest market revenue share in 2023. The sales of this segment increase with the adoption of third-generation products. Furthermore, it is anticipated that product approvals are expected to experience the most significant growth during the projected period.
- Brexpiprazole is expected to register the fastest CAGR of 9.8% during the forecast period.
- The second generation therapeutic class accounted for the largest market revenue share of 62.9% in 2023. The growth of this segment can be attributed to the presence of a number of second-generation medications available in the market, such as HAFYERA, INVEGA, SEROQUEL, XR, ZYPREXA, and others.
- The retail pharmacies segment dominated the market and accounted for the largest share in 2023. Retail pharmacies are easily available to patients, and they often act as the initial point of contact for individuals in need of prescription medications.
- North America dominated the market with revenue share of 37.67% in 2023. Some of the critical factors attributable to the region’s market dominance include the strong prevalence of psychiatric illnesses in the region and the market presence of prominent biopharmaceutical companies.
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Antipsychotic Drugs Market Variables, Trends, & Scope
Chapter 4. Antipsychotic Drugs Market: Disease Estimates & Trend Analysis
Chapter 5. Antipsychotic Drugs Market: Drug Estimates & Trend Analysis
Chapter 6. Antipsychotic Drugs Market: Therapeutic Class Estimates & Trend Analysis
Chapter 7. Antipsychotic Drugs Market: Distribution Channel Estimates & Trend Analysis
Chapter 8. Antipsychotic Drugs Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
Companies Mentioned
- H. Lundbeck A/S
- Otsuka Pharmaceutical Co., Ltd.
- Janssen Global Services, LLC
- Eli Lilly and Company
- AbbVie, Inc.
- Teva Pharmaceutical Industries Ltd.
- Dr. Reddy’s Laboratories Ltd.
- Sumitomo Pharma
- Alkermes
- Bristol-Myers Squibb Company
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 16.88 Billion |
| Forecasted Market Value ( USD | $ 24.97 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
