The global antipsychotic drugs market is anticipated to reach USD 14.4 billion by 2025 growing at 2.1% CAGR over the forecast period (from 2014 to 2025). Rising occurrences of psychosis and other related diseases are expected to drive the overall demand for antipsychotic drugs. Key factors responsible for the high incidence of aforementioned diseases are substance-induced psychoses, genetic mutations, & physical illness causing depression. Huge investments in the research & development of highly advanced antipsychotic compounds are expected to fuel the global market in the years to come.
The global antipsychotic drugs market is categorized as per antipsychotics drug class, applications, and regions. On the basis of antipsychotics drug class, the market is divided into first, second, and third generations. The first generation segment of drugs have some serious adverse effects and are rarely used, hence they occupy a very negligible share in the global market. The second generation segment occupied the biggest market share in 2015 and is further expected to expand over the next few years despite the adverse effects. As of 2016, the third generation segment of drugs has just one approved product called Abilify. It has minor adverse effects and is projected to be the fastest-growing segment in the near future.
On the basis of applications, the market is categorized into dementia, schizophrenia, unipolar depression, bipolar disorder, and others. Antipsychotics have first-line therapeutic applications throughout the treatment & maintenance phases of schizophrenia. The treatment of schizophrenia mainly focuses on eradicating the signs of the disease as its etiology is still unknown. The schizophrenia application segment occupied the biggest revenue share over the recent past. Also, the unipolar treatment application segment is projected to grow at a remarkable CAGR from 20014 to 2025.
In-depth research report on global antipsychotic drugs market - http://www.grandviewresearch.com/industry-analysis/antipsychotic-drugs-market
As per geographies, the global antipsychotic drugs market is segregated as Middle East & Africa (MEA), Europe, North America, Latin America, and Asia Pacific (APAC). North America led the global market in 2015 occupying the largest revenue share due to the high prevalence of mental illnesses. The APAC region is estimated to be the fastest growing region over the forecast period, mainly because of rising social awareness about mental disorders and better access to the treatment of the same. Furthermore, better access to & availability of medicines for the management & treatment of mental illness are estimated to propel growth of the APAC market.
Major companies operating in the global antipsychotic drugs market are Pfizer, Inc.; Johnson & Johnson; Bristol-Myers Squibb; and Eli Lilly & Co. The stronghold of these key players in the global market can be attributed to the commercial availability of antipsychotic drugs with an established brand image. Competition in this market is projected to intensify over the coming years as many companies are now aiming at the development of novel & better antipsychotics with minor adverse effects in order to attain a competitive advantage over other market players. The Food & Drug Administration (FDA) has given a nod to Rexulti (brexpiprazole) tablets by Otsuka for treating adults suffering from schizophrenia and major depressive disorder (MDD).