Antipsychotic Drugs Market Report, Size, Share, Growth, Trends, Industry Forecast to 2033

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The new report published by The Business Research Company, titled Antipsychotic Drugs Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the antipsychotic drugs market size has grown strongly in recent years. It will grow from $17.82 billion in 2023 to $19.5 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The antipsychotic drugs market size is expected to see strong growth in the next few years. It will grow to $28.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.

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What Is Driving The Growth Of The Global Antipsychotic Drugs Market?

Rising Mental Disorders Fuel Growth Of Antipsychotic Drugs Market
The growing incidence of mental disorders is expected to propel the growth of the antipsychotic drug market going forward. Mental disorders, often known as mental illnesses, are ailments that impact a person's thinking, behavior, mood, and mental health. The mental disorder cases can be affected by stress levels, societal pressures, genetic predisposition, biochemical imbalance, neurodevelopmental issues, and physical health conditions. Antipsychotic drugs control mental disorders by altering the activity of neurotransmitters, primarily dopamine and serotonin, to reduce psychotic symptoms, stabilize mood, and improve cognitive and emotional function. For instance, in November 2023, according to a survey conducted by the Substance Abuse and Mental Health Services Administration (SAMHSA), a US-based government agency for public health, approximately 6% of adults aged 18 or older, equivalent to 15.4 million individuals, reported experiencing serious mental illness (SMI). Furthermore, in December 2022, according to a survey of 69,850 respondents aged 12 or older conducted by the Substance Abuse and Mental Health Services Administration (SAMHSA), a US-based government agency for public health, 5.5% of adults aged 18 and older, or 14.1 million people, were affected in 2021. Therefore, a growing incidence of mental disorders is driving the antipsychotic drug market.

What Is The Key Trend In The Global Antipsychotic Drugs Market?

Advancements In Subcutaneous Antipsychotic Injections For Enhanced Patient Compliance And Efficacy
Major companies operating in the antipsychotic drug market are focused on developing advanced medical products, such as subcutaneous atypical antipsychotic injections, to offer improved patient compliance and enhanced efficacy compared to traditional oral medications. Subcutaneous atypical antipsychotic injections are psychiatric drugs that are given under the skin to treat mental illnesses, maintain stable blood levels, and improve symptom control. For instance, in April 2023, Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company, and MedinCell SA, a France-based manufacturer of biological products and pharmaceutical preparations, launched U.S. Food and Drug Administration (FDA)-approved UZEDY. It is an extended-release injectable formulation of risperidone designed as a long-acting subcutaneous injection that offers flexible dosing intervals of one or two months. UZEDY utilizes MedinCell's proprietary SteadyTeq technology, which ensures a steady release of the medication, reaching therapeutic levels within 6-24 hours of administration. In clinical trials, UZEDY demonstrated up to an 80% reduction in the risk of schizophrenia relapse compared to placebo. It is intended to address adherence issues commonly associated with oral antipsychotics, which often lead to relapse.

How Is The Global Antipsychotic Drugs Market Segmented?
The antipsychotic drugs market covered in this report is segmented -

1) By Therapeutic Class: First Generation, Second Generation, Third Generation
2) By Disease: Schizophrenia, Bipolar Disorder, Unipolar Depression, Dementia, Other Diseases
3) By Distribution Channel: Hospital Pharmacies, Drug Stores, Online Pharmacies

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How Is The Competitive Landscape Of The Global Antipsychotic Drugs Market?
Major companies operating in the antipsychotic drugs market are Pfizer Inc., Johnson & Johnson Services Inc., Merck And Co. Inc., AbbVie Inc., Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly And Company, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co. Ltd., Aurobindo Pharma Ltd., Cipla Ltd., H. Lundbeck A/S, Dr. Reddy's Laboratories Ltd., Intas Pharmaceuticals Ltd., Apotex Inc., Lupin Limited, Glenmark Pharmaceuticals Ltd., Torrent Pharmaceuticals Ltd., Alkermes plc

Contents Of The Global Antipsychotic Drugs Market
1. Executive Summary
2. Antipsychotic Drugs Market Report Structure
3. Antipsychotic Drugs Market Trends And Strategies
4. Antipsychotic Drugs Market - Macro Economic Scenario
5. Antipsychotic Drugs Market Size And Growth
…..
27. Antipsychotic Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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