Antipsychotic Drugs Market 2020 Global Industry Size, Share, Growth, Trends and Regional Forecast to 2026 is latest research report on Global Antipsychotic Drugs Market published by “Fortune Business Insights”. According to report the global Antipsychotic Drugs market size is predicted to grow $20,539.5 million by 2026, exhibiting a CAGR of 4% during the forecast period. Antipsychotic Drugs also known as neuroleptics Drugs or major tranquilizers, are a class of medication primarily used to manage psychosis.
Global Antipsychotic Drugs Market Insights:
Antipsychotic Drugs Industry report anlayzes Market for Antipsychotic Drugs by Disease (Schizophrenia, Bipolar Disorder, Unipolar Depression, Dementia, Others), By Therapeutic Class (First Generation, Second Generation, Third Generation), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast 2019-2026.
Antipsychotic Drugs Industry Key Players Analyzed in Report Are:
Vanda Pharmaceuticals Inc, H. Lundbeck A/S, Bristol-Myers Squibb Company, Eli Lilly and Company, ALLERGAN, Pfizer, AstraZeneca, Sumitomo Dainippon Pharma Co, Janssen Pharmaceuticals Inc.
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The global antipsychotic drugs market is set to reach USD 20,539.5 million by 2026, exhibiting a CAGR of 4.0% during the forecast period. Widespread prevalence of depression and associated disorders is the key factor driving the growth of this market. According to the World Health Organization (WHO), presently, around 300 million people across the age spectrum are suffering from depression. An extreme form of depression leads to suicide. The WHO estimates that nearly 800,000 people commit suicide every year, the act becoming the second leading cause of death among people between the ages of 15 and 30. Increasing stress levels, social alienation, and excessive individualism are some of the prominent socio-psychological causes leading to depressive tendencies among young adults. This growing prevalence of the disorder around the world is expected to push up the demand for antipsychotic drugs, benefiting the market in the forecast period.
Fortune Business Insights, in its report, titled “Antipsychotic Drugs Market Size, Share and Industry Analysis, By Disease (Schizophrenia, Bipolar Disorder, Unipolar Depression, Dementia, Others), By Therapeutic Class (First Generation, Second Generation, Third Generation), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019 – 2026”, states that in 2018, the market was valued at USD 14,963.5 million. Besides this, the report also brings out a comprehensive analysis and an in-depth evaluation of the factors and dynamics that will chart the growth trajectory of the market during the forecast period.
Antipsychotic drugs are psychiatric drugs prescribed to treat or contain mental health problems which give rise to psychotic episodes. These disorders include schizophrenia, severe anxiety, bipolar disorder, and depression.
Large Number of Untreated Schizophrenic Patients to Present Promising Growth Opportunities
Schizophrenia is a severe psychotic disorder that creates extreme distortions in thinking capabilities, leads to erratic behaviour, and causes major disturbances in one’s social and personal life. The disorder is characterized by delusions, hallucinations, and extreme emotionality, requiring strong medication. According to the WHO, schizophrenia is a serious mental disability, affecting nearly 21 million people globally. But, it is not an untreatable affliction. In fact, early diagnosis and targeted medication can help individuals to overcome the challenges posed by the disorder. Rising demand for anti-schizophrenia drugs had spurred many companies to develop novel treatments. For example, Indivior developed an antipsychotic drug called Perseris, an injectable form of risperidone, received FDA clearance in July 2018. This is likely to fuel the antipsychotic drugs market growth in the coming decade.
High Awareness Levels to Boost the Market in North America; Asia-Pacific to Showcase a Steady CAGR
In 2018, the market in North America was valued at USD 9307.3 million and the trend is expected to continue till 2026. This is mainly on account of the increasing incidence of psychotic disorders in the region, along with the readiness of patients to adopt advanced therapeutic methods to treat these afflictions. For instance, the American Psychiatric Association estimates that around 4.1% of Americans suffer from at least one serious mental disorder. Europe is projected to be the second most dominant region in the global antipsychotic drugs market share. Asia-Pacific is anticipated to register a significant CAGR owing to broadening patient base suffering from and undergoing treatment for psychotic disorders.
ALLERGAN’s Vraylar Gets FDA Approved for Depression Treatment, Encourages Innovation Among Other Players
In May 2019, Vraylar, ALLERGAN’s new antipsychotic drug for treating depression got FDA’s green light, making it the first drug to get approved for treating bipolar 1. Such regulatory support is expected to encourage other players in the antipsychotic drugs market to step up their investment in R&D to create new products. Moreover, many companies are looking to expand their operations in other countries. For example, in September 2019, Denmark-based Lundbeck Pharmaceuticals partnered with Japan’s Takeda Pharmaceuticals to introduce Lundbeck’s Trintellix for treatment of depression in the market in Japan.
Highlights of the Report:
In-depth analysis of various insights, namely, Antipsychotic Drugs Market trends, growth drivers, opportunities, and other related challenges.
Comprehensive details of key market players, their core competencies, and Antipsychotic Drugs Market share.
The potency of suppliers and buyers to make better business decisions.
Lists out the market size in terms of volume.
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Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Continued…
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