Antipsychotic Drugs Market Size, Trends and Growth Analysis by Generation (First Generation, Second Generation), Types of Antipsychotics (Atypical Antipsychotics, Miscellaneous Antipsychotics Agents), Therapeutic Applications (Schizophrenia, Anxiety, Bipolar Disorder) and Region (the Americas, Europe, Asia-Pacific, and the Middle East & Africa), Forecast till 2025
Antipsychotic Drugs Market Overview
As per the analysis by Market Research Future (MRFR), the global antipsychotic drugs market is predicted to acquire significant market value, expanding at a CAGR of 4.5% by 2025. The rising awareness about the importance of mental health and psychological illness is expected to be a significant factor in boosting the antipsychotic drugs market 2020. The growing incidents of psychotic disorders, such as; schizophrenia and bipolar disorder, are expected to boost the demand for antipsychotic medication and which can strengthen the market.
The rising initiatives taken by the government of several countries to break stigmas related to psychotic disorders are anticipated to boost the demand for such drugs that can develop the market. Furthermore, increasing drug abuse and growing addiction to drugs are projected to be other causes that can escalate the demand for antipsychotic drugs and bolster the market.
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On the other hand, side effects of such drugs, such as; weight gain and risk of diabetes, can impede the market in the assessment period. However, the growing insomnia patients and rising geriatric population are anticipated to underpin the market expansion in the forthcoming period.
Antipsychotic Drugs Market Segmentation
The segmental analysis of the global antipsychotic drugs market is done by generation, end-users, and therapeutic applications.
The generation-based segments of the global antipsychotic drugs are generation, has been segmented into first generation, second generation, and third generation.
The end-users-based segments of the global antipsychotic drugs are hospitals & clinics, research institutes, and others.
The therapeutic application-based segments of the global antipsychotic drugs market are schizophrenia, anxiety, bipolar disorder, depression, dementia, and others.
Antipsychotic Drugs Market Regional Analysis
Based on the region, the global antipsychotic drugs market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
As per the analysis, the global antipsychotic drugs market is projected to be dominated by North America owing to the rising population being affected by psychosis. The US and Canada are expected to make significant participation due to the increasing cases of schizophrenia and insomnia. Further, the presence of established key players in the region is predicted to augment the market in the coming period. The developing healthcare infrastructure is anticipated to strengthen the market during the review period.
Europe is expected to acquire significant antipsychotic drugs market value during the forecast period, thriving at a notable CAGR. The region is anticipated to grow due to the expanding patient pool. The on-going development in the concerned field is likely to bolster the market during the assessment period. Further, the development of healthcare infrastructure can augment the market during the evaluation period.
The APAC region is expected to garner substantial antipsychotic drugs market value during the review period. The expanding patient pool with the growing innovation in medical devices is likely to grow the market in the forecast period. Developing countries like India, China, and Japan are projected to play a crucial role in strengthening the regional market due to the on-going development of the healthcare sector. Furthermore, the on-going R&D in the field is expected to drive the regional market at a fast pace in the coming period.
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The MEA region is anticipated to witness steady antipsychotic drugs market growth during the forecast period due to the developing healthcare infrastructure. The presence of Middle East countries like Qatar and Saudi Arabia are expected to make more significant participation than the African countries due to economic stability.
Antipsychotic Drugs Market Key Players
Key players of the global antipsychotic drugs market are Bristol-Myers Squibb (US), Eli Lilly & Co. (US), AstraZeneca (UK), GlaxoSmithKline Plc. (UK), Pfizer Inc. (US), and Johnson & Johnson (US).
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