Antipsychotic Drugs Market worth $~25 billion by 2027
The report "Antipsychotic Drugs Market by Therapeutic Class (First Generation, Second Generation, Third Generation), Drug (Aripiprazole, Brexipiprazole, Risperidone), Distribution Channel (Hospital Pharmacies, Retail Pharmacies) - Global Forecast to 2027", is projected to reach USD ~25 billion by 2027 from USD 14 billion in 2022, at a CAGR of 8% between 2022 and 2027.
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Increase in prevalence of psychosis and other associated diseases, which is expected to drive the growth of antipsychotic drugs market. In addition, advent of newer antipsychotic compounds coupled with robust R&D investments are set to boost the expansion of antipsychotic drugs market. Players operating in this market are targeting their investments towards expanding applications of antipsychotic drugs, this is expected to create significant lucrative opportunities for this market.
Second generation therapeutic class dominated the antipsychotic drugs market in 2021.
The second generation class of antipsychotic therapeutics holds a dominant share in the market. This class therapeutics is inclusive of sertindole, clozapine, asenapne, risperidone, paliperidone, olanzapine, and quetiapine. Second-generation therapeutic class serves as an effective treatment regimen for individuals suffering from different psychiatric ailments, including schizophrenia. Greater efficacy of second generation antipsychotics in the treatment of schizophrenia over first-generation antipsychotics is expected to boost the segment growth.
The Asia Pacific region is estimated to grow at the fastest pace in the antipsychotic drugs market.
Asia Pacific region is anticipated to witness a lucrative growth in the coming years attributed to the increasing awareness regarding disorders associated with psychosis. These disorders include anxiety, bipolar/mania, and clinical depression. In addition, expanding presence of players developing medicines for treatment and management of mental illnesses is expected to boost the regional market growth.
Some of the major players in the global antipsychotic drugs market are Janssen Pharmaceuticals, Inc., Dr. Reddy’s Laboratories Ltd., Otsuka Pharmaceutical Co., Ltd., Teva Pharmaceutical Industries Ltd., Allergan, H. Lundbeck A/S, Alkermes Plc, Eli Lilly and Company, Bristol-Myers Squibb Company, and Sumitomo Dainippon Pharma Co. Ltd.
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