The global antipsychotic drugs market is expected to grow at a CAGR of 6.51% during the forecasted period, with a market valuation of US$16.311 billion in 2022, and is expected to reach US$25.358 billion by 2029. Antipsychotic drugs are medications t...
Antipsychotic drugs are medications that are developed for psychiatric and mental disorders. These drugs are used to reduce the effects of psychotic symptoms and help the patients cope with the disorders. With the rising global cases of mental disorders in the global market, the introduction and development of antipsychotic drugs is expected to grow, propelling the market forward.
With the increase in global cases of mental disorders, various companies and organizations have invested in the development of antipsychotic drugs. For instance, in April 2023, Teva and MecinCell got the FDA approval of their new slow-release drug for schizophrenia, Uzedy. The companies partnered together to develop the drug, and is available for the US market. This drug can be administered at the intervals of one to two months. Similarly, in March 2024, Lupin received approval from the FDA, for its Aripiprazole Tablets, which are developed for treatment of the acute treatment of manic, schizophrenia, and bipolar disorders.
The antipsychotic drugs market, by therapeutic class, is segmented into two categories, first-generation and second-generation. Under the therapeutic class segment of the antipsychotic drugs market, the first-generation category is anticipated to attain a greater market share. The first-generation and second-generation antipsychotics are classified according to their chemical structure. The first-generation antipsychotics or FGAs are generally used for the treatment of various psychotic disorders, like schizophrenia. The FGAs are also cheaper and are considered one of the most critical and easily accessible medications for psychotic disorders.
By distribution channel, the antipsychotic drugs market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The online pharmacies under the distribution channel segment of the antipsychotic drugs market are expected to attain the maximum share. Online pharmacies are online stores, like e-commerce platforms, and websites of brands and suppliers, that offer medicated products and drugs to consumers, through the Internet. The online pharmacies offer multiple benefits to the patients over the physical mode like hospitals and retail pharmacies, like privacy, and convenience. Online pharmacies also ensure the authenticity of products, as these are directly supplied by the brands. With the growth of internet accessibility across the globe, the E-pharmacy, or online pharmacy model is expected to witness a significant boost.
The antipsychotic drugs market, by application, is segmented into schizophrenia, dementia, bipolar disorder, depression, and others. In the application segment of the antipsychotic drugs market, the depression category is expected to grow at a significant rate. Depression or depressive disorder is one of the most common psychotics or mental disorders. Depression includes a loss of interest or pleasure in any activities, and it can last for a longer period of time. Its symptoms include anxiety, apathy, guilt, mood swings, and sadness.
Based on geography, the North American region of the antipsychotic drugs market is growing significantly, as the region offers an expanding healthcare and pharmaceutical landscape. One of the major driving factors for the increase in the antipsychotic drugs market in the region can be the increasing cases of mental disorders, like depression, and dementia in the nations like the USA and Canada. Mental Health America, an organization dealing with the problems of mental health in the USA stated that in the nation, about 20.17% of the youth, aged between 12 and 17 years of age are suffering from mental depressive episodes, in a year. Similarly, the case of dementia is also expanding rapidly in the region, with an increase in the elderly population in the USA, Canada, and Mexico.
As a part of the report, the major players operating in the corneal topographers market that have been covered are AstraZeneca Plc., Pfizer, Inc, Alkermes Plc., Eli Lilly and Company, Bristol-Myers Squibb Company, Johnson and Johnson, Teva Pharmaceutical Industries Ltd., Otsuka Holdings Co. Ltd., and AbbVie, Inc.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/antipsychotic-drugs-marketThis analytics report segments the antipsychotic drugs market as follows:
- By Therapeutic Class
- First-generation
- Second-generation
- By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- By Application
- Schizophrenia
- Dementia
- Bipolar Disorder
- Depression
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Thailand
- Others
- North America
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