The Antipsychotic Drugs Market is expected to grow due to the rising number of Schizophrenic patients. However, patent expiration of major brands could negatively impact the market growth. Deep-dive analysis of global antipsychotic drugs market focuses on major market dynamics such as drivers, restrains and opportunities.
Antipsychotic drugs are also termed as major tranquilizers or neuroleptics and these are primarily used to treat psychosis. The common psychotic disorders, where these drugs are majorly used include schizophrenia, hallucinations, delusions, bipolar disorder and others. Competitive landscape section profiles the key players on the basis of business performance, strategic moves and SWOT analysis. Profound analysis of segments would be helpful to understand the product distribution trends in each segment within the global antipsychotic drugs market.
High prevalence of Schizophrenia and psychotic disorders are the prime drivers for global antipsychotic drugs market. Increased drug abuse, over prescription of drugs and addiction to antipsychotic drugs are the additional factors that drive the market growth for antipsychotic drugs. However, patent expiry of major brands over the past few years had negative impact on market growth and it has been responsible to the rising competition from generic drug manufacturer. Serious side effects such as tardive dyskinesia, associated with antipsychotics also restraints the market growth. Emerging economies are the opportunistic markets for antipsychotics due to large pool of aging population, which has high risk of psychosis, and increased healthcare awareness.
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Global Antipsychotic Drugs Market by Brands
The global antipsychotic drugs market is segmented into three categories based on brands such as First, Second and Third generation antipsychotic drugs. Except Halodol and lithium carbonate, all first generation antipsychotic agents are called as standard or typical antipsychotics, as they act similar i.e., interference with neurotransmitters. Second generation antipsychotics are also known as atypical antipsychotic agents and act as broad-spectrum antagonists of dopamine, serotonin and alpha-noradrenergic receptors. With development of technology and growing competition to gain largest market share, researchers are focusing on first generation antipsychotics to better understand their working mechanism. Abilify and Seroquel are topmost marketed brands due their high therapeutic efficacy and reduced side effects.
Global Antipsychotic Drugs Market by Application
The global antipsychotic drugs are used to treat different brain disorders such as Schizophrenia, Bipolar disorder, Dementia, Unipolar Depression and Others. The drugs used in Schizophrenia and psychotic depression are expected to boost the growth of antipsychotic drugs market due to increasing incidences of these two conditions.
Global Antipsychotic Drugs Market by Geography
Geographically, global antipsychotic drugs market is segmented into North America, Europe, Asia-Pacific and LAMEA. Antipsychotics are the largely prescribed drugs in the North American region due to large patient pool suffering from mental and psychotic disorders. Asia-Pacific and LAMEA are the lucrative market for global antipsychotic drugs manufacturers, due to large patient pool and rising healthcare awareness.
The key players within global antipsychotic drugs market include Eli Lilly, AstraZeneca, Pfizer, Bristol-Myers Squibb, GlaxoSmithKline and Johnson & Johnson. Patent expiration of major brands such as Zyprexa (by Eli Lilly) and Seroquel (by AstraZeneca) has negatively impacted the total revenue of this maket. Generic competition is soaring due to patent expiration of six largest antipsychotic drugs in 2012.