Market Research Future is the Leading Brand in The Market Research Company who Recently Published Antipsychotic Drugs Market Reports which includes Study of growth, Regional Analysis, Top Industry Players Formation, Major Drivers, Upcoming Trends and Forecast to 2022. The Global Antipsychotic Drugs Market is expected to reach around USD 18.5 billion by the end of the forecast period and is expected to grow at a CAGR of ~4.3%.
Global Antipsychotic Drugs Market – Key Players
Some of the key players in this Antipsychotic Drugs Market are:
- Eli Lilly & Co.
- Bristol-Myers Squibb
- Pfizer inc.
- GlaxoSmithKline plc
- Johnson & Johnson
Global Antipsychotic Drugs Market – Segments
Global antipsychotic drugs market has been segmented on the basis of therapeutic applications, which comprises schizophrenia, bipolar disorder, depression, dementia and others. On the basis of generations; market is segmented into first, second and third.
Global Antipsychotic Drugs Market – Highlights
Psychosis are a group of disorders with serious distortion of thought, behavior, recognition of reality and perception. The patient may have delusions and hallucinations and may have misperception and wrong evaluation of situation, facts or other people. However, there are huge formidable barriers which remain a challenge to expand the market and the Anti-Psychotic Drugs Market has shown growth par below their potential market due to a host of factors.
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The most critical market driving factor for anti-psychotic drugs is the rising cases of psychosis and mental disorders. Following are some estimates about psychosis according to the World Health Organization (WHO)
- Depression affects an estimated 300 million people in the world.
- Bipolar affective disorder takes a toll on about 60 million people worldwide.
- Schizophrenia, a severe mental disorder, affects about 21 million people worldwide.
- Dementia has a prevalence in about 47.5 million people worldwide
- One fourth of people are affected by mental or neurological disorders at some point in their lives.
- The current number of untapped patients are of an order of around 450 million currently suffering from such conditions.
The treatment scenario is no different and the least it is said the better. According to WHO, the gap between the unmet needs in low- and middle-income countries is between 76% and 85% of people with mental disorders. Even in high-income countries the unmet medical needs gap is of an order of 35% and 50% of people with mental disorders. Thus, there exists a huge market with unmet medical needs which needs to be tapped. Other very important market driving factor is increasing focus of governments and health care organizations on mental health. For example, WHO’s initiated its Mental Health Gap Action Programmed in 2008, to expand the coverage of mental health treatment and service across the world.
The critical market restraint is the poor efficiency and efficacy of anti-psychotic drugs. The side effects of these drugs are another depressing story to tell, which ranges from insomnia, drowsiness, vomiting to the high addiction rate. Social stigma also constraints the market with an estimated two-thirds of patients never seeking help. The poor drug development pipeline is a future market threat. The drug pipeline for anti-psychotics is devoid of any novel acting drug candidate. Strict regulatory framework is another deterrent for companies developing anti-psychotics.
Global Antipsychotic Drugs Market – Regional Analysis
Globally America is the largest market for antipsychotic Drugs. The American market for antipsychotic drugs represents about 47 % of world market in 2016. Rapid uptake of new drug molecules and excellent reimbursements scenario in the U.S. are the two most important factors for the dominance of America. Europe is the second-largest market for antipsychotic drugs. Asia pacific region is expected to be fastest growing region in antipsychotic drugs market.
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