Neuropsychiatric Drug Market Revenue Growth and Challenges Impacting Adoption Rates by 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on "Global Neuropsychiatric Drugs Market- By Trends, Industry Competition Analysis, Revenue and Forecast to 2031."

The Neuropsychiatric Drugs Market is expected to grow at a 4.5 % CAGR during the forecast period for 2023-2031.

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Neuropsychiatric disorders encompass a wide spectrum of medical conditions that bridge the fields of neurology and psychiatry, arising from dysfunctions within the cerebral system. These disorders are predominantly observed in pediatric and adolescent populations. Although numerous pharmaceutical treatments exist for various stages of neuropsychiatric conditions, a significant proportion of these medications have yet to undergo comprehensive testing in children.

The global demand for neuropsychiatric drugs is anticipated to grow substantially over the forecast period, driven by factors such as the high prevalence of neuropsychiatric disorders worldwide, an increasing need for cost-effective therapeutic options, expanding drug development pipelines, ongoing innovations in advanced treatment modalities, and intensified research and development efforts focused on novel drug candidates.

According to the World Health Organization (WHO), depression ranks among the leading causes of disability globally, affecting approximately 264 million individuals. The rising incidence of depression and related mental health disorders is expected to create significant market growth opportunities in the coming years.

However, challenges such as the requirement for long-term treatment regimens and adverse side effects associated with neuropsychiatric medications, including blurred vision and insomnia, may hinder broader market adoption.

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Regionally, North America is projected to maintain the largest market share throughout the forecast period (2020-2030), followed by Europe. This dominance is attributed to heightened mental health awareness, a well-developed healthcare infrastructure, and substantial investments in research and development aimed at advancing novel treatments for neuropsychiatric disorders.

Major market players operating in the neuropsychiatric drugs market include Novartis (Switzerland), Pfizer (US), Otsuka (Japan), Allergan (Ireland), Eli Lilly (US), Sunovion (US), AstraZeneca (UK), Actavis Laboratories (US), Johnson & Johnson (US), Bristol Myers (US), Sage Therapeutics (US), BlackThorn Therapeutics (US), H. Lundbeck A/S (Denmark), Takeda (Japan), Cerevel Therapeutics, LLC (US) among others.

Some of the key developments in the market:
• In September 2021, Otsuka Pharmaceutical (Japan) and Sunovion (US), a subsidiary of Sumitomo, collaborated to develop and commercialize four clinical-stage neuropsychiatric compounds (ulotaront, non-racemic ratio of amisulpride enantiomers, SEP-378614, and SEP-380135). These four compounds are designed to treat psychiatric diseases.
• In June 2021, Eli Lilly Alzheimer's drug received breakthrough status from the FDA. The company has plans to submit a biologics license application (BLA) for donanemab under the accelerated approval pathway later this year based on data from TRAILBLAZER-ALZ.
• In March 2019, Novartis (Switzerland) received FDA approval for Mayzent (siponimod), the first oral drug to treat relapsing forms of multiple sclerosis (RMS).

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Market Segments
Global Neuropsychiatric Drugs Market, by Drug Type, 2020-2030 (Value US$ Mn)
• Typical Antipsychotics
o Prochlorperazine
o Haloperidol
o Others
• Atypical Antipsychotics
o Aripiprazole
o Asenapine
o Cariprazine
o Clozapine
o Lurasidone
o Olanzapine
o Risperidone
o Others
Global Neuropsychiatric Drugs Market, by Indication, 2020-2030 (Value US$ Mn)
• Schizophrenia
• Bipolar Disorder
• Psychotic Depression
• Others
Global Neuropsychiatric Drugs Market, by Route of Administration, 2020-2030 (Value US$ Mn)
• Oral
• Parenteral
Global Neuropsychiatric Drugs Market, by Region, 2020-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Neuropsychiatric Drugs Market, by Country, 2020-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Neuropsychiatric Drugs Market, by Country, 2020-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Neuropsychiatric Drugs Market, by Country, 2020-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Neuropsychiatric Drugs Market, by Country, 2020-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Neuropsychiatric Drugs Market, by Country, 2020-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
• To receive a comprehensive analysis of the prospects for the global neuropsychiatric drugs market
• To receive an industry overview and future trends of the neuropsychiatric drugs market
• To analyze the neuropsychiatric drugs market drivers and challenges
• To get information on the neuropsychiatric drugs market value (US$ Mn) forecast to 2030
• Significant investments, mergers & acquisitions in the neuropsychiatric drugs market industry

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This release was published on openPR.