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Key Foresights on How Antipsychotics Market will Evolve During 2015-2021
Persistence Market Research (PMR)
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North America dominates the global market for antipsychotics due to the presence of a large number of aging population, and increasing prevalence of neurological disorders in the region. The market for antipsychotics in Europe is expected to experience a high growth rate in the next few years. The region would be followed by Asia. China and India are likely to be the fastest growing markets for antipsychotics in Asia. Key factors driving the antipsychotics market in emerging countries include presence of a large pool of patients, and rise in government funding.
Factors such as aging population, increasing prevalence of neurological disorders, and growing awareness regarding different neurological disorders and their available treatment are driving the global antipsychotics market. Furthermore, improvement in healthcare facilities and technological advancements in the field of neurology are also boosting the antipsychotics market. However, factors such as side-effects associated with antipsychotics and lower adoption rate of antipsychotics have been hampering market growth.
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Growth in demographics and developing economies such as India and China is projected to offer ample opportunities to the global antipsychotics market. Innovation in some of the existing products, leading to improvement in the efficiency of antipsychotics is anticipated to offer opportunities for the market. Rising number of mergers and acquisitions, new product launches, and increasing number of collaborations and partnerships are some of the latest trends in the global antipsychotics market. Furthermore, the number of patent expirations in the global antipsychotics market is increasing. Profit margins of companies are likely to be affected due to the expiry of patents. Side-effects associated with antipsychotics act as a challenge for the antipsychotics market. Commonly marketed antipsychotics include aripiprazole, asenapine maleate, clozapine, iloperidone, lurasidone, and olanzapine. Other commonly marketed antipsychotics include olanzapine/fluoxetine, paliperidone, quetiapine, risperidone, and ziprasidone. Major companies dealing in global antipsychotics market include Eli Lilly and Company, Pfizer, Inc., and GlaxoSmithKline Plc. Other companies with significant presence in the antipsychotics market include AstraZeneca Plc, Bristol-Myers Squibb, and Johnson & Johnson.
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