The schizophrenia segment emerged dominant in the global antipsychotic drugs market in 2018. The segment had acquired an astonishing 45.2% of the global antipsychotic drugs market share in the same year owing to the rising prevalence of the disorder. This information is published in a report by Fortune Business Insights, titled, “Antipsychotic Drugs: Global Market Analysis, Insights and Forecast, 2019-2026.” According to the report, the global market was worth US$ 14,963.5 Mn in 2018. However, Fortune Business Insights predicts that the global market will reach US$ 20,539.5 Mn by 2026, exhibiting a CAGR of 4.0% in the forecast period.
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Major Leading Players Mentioned:
- Lundbeck A/S
- Otsuka Pharmaceutical Co., Ltd.
- Janssen Pharmaceuticals, Inc.
- Eli Lilly and Company
- Vanda Pharmaceuticals Inc.
- Sumitomo Dainippon Pharma Co., Ltd.
- Alkermes plc
- Pfizer Inc.
- Bristol-Myers Squibb Company
- Other Prominent Players
The report on antipsychotic drugs market provides insights into growth opportunities for investors and businesses alike and growth drivers and trends in the market. It offers quantitative and qualitative information on the drivers and growth rate of the segments in the market. The report also comprises of extensive primary and secondary research which aid in providing clients with a clear picture of the anticipated market size and current market scenario.
“Rapid Shift Towards Advanced and Safe Drugs to Favor Growth in North America”
Geographically, the global antipsychotic drugs market is grouped into Latin America, Asia Pacific, North America, the Middle East and Africa, and Europe. Amongst these regions, North America had acquired US$ 9,307.3 Mn antipsychotic drugs market revenue in the year 2018. The growth is attributed to the increasing patient pool suffering from psychotic disorders in the region. Additionally, a rapid shift of these patients towards safe antipsychotic drugs for the treatment of schizophrenia, bipolar disorder, and other psychotic diseases is expected to drive the antipsychotic drugs market in this region. Several healthcare organizations in North America have also begun promoting such drugs for treatment.
“Global Antipsychotic Drugs Market Segmentation”
- Bipolar Disorder
- Unipolar Depression
By Therapeutic Class
- First Generation
- Second Generation
- Third Generation
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
In Asia Pacific, emerging countries, such as India, China, and other Southeast Asian countries have a large patient pool who are suffering from various disorders, especially schizophrenia. Moreover, the populace residing in these countries are preferring second-generation drugs over first-generation antipsychotic drugs.
It is because of the increasing healthcare expenditure and increasing awareness programs regarding the usage of these drugs. Fortune Business Insights predicts that Europe would follow the footsteps of North America and would remain in the second position throughout the forecast period. The growth is attributed to a rise in the patient population and increasing incidence of psychotic diseases.
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“Indivior, Otsuka, Allergan and Other Market Players Receive Fast Track Approvals”
Fortune Business Insights has listed a few key developments that have occurred in the global antipsychotic drugs market since the past few years:
- Indivior PLC, a specialty pharmaceuticals business based in the U.K., declared in July 2018 that it received FDA approval for Perseris, a long-acting injectable (LAI) containing risperidone. It is used to treat schizophrenia in adults. Perseris uses the extended-release delivery system that provides a certain level of risperidone which sustains over a month. According to the company, the FDA approval will support adult patients and their healthcare providers by providing a technologically advanced treatment option.
- Otsuka Pharmaceutical Co., Ltd., a pharmaceutical company, headquartered in Tokyo, announced the launch of Rexulti in Japan in April 2018. Rexulti is available in both 1mg and 2mg variants for the treatment of schizophrenia. It is already available in the pharmacies in Australia, Canada, and the U.S. The efficacy and safety of Rexulti were examined in four clinical phase III studies that were controlled by placebo. The tablets were superior for the treatment of schizophrenia when provided at specific dosages. Otsuka recommends giving the patients a lower dose during the initial treatment procedure and then slowly increase the dosage over time. They are to be consumed regularly with or without meals.
- Allergan, a pharmaceutical company based in Ireland, declared that the FDA approved Vraylar in May 2019. As per the approval, Vraylar can now be used in the treatment of depressive episodes that are associated with bipolar depression (bipolar I disorder) in adult patients. In the U.S., Vraylar can also be used to treat manic episodes occurring due to bipolar I disorder.
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KEY QUESTIONS ANSWERED:
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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