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Antipsychotic Drugs Market by Therapeutic Class (First-generation, Second-generation); by Application (Schizophrenia, Dementia, Bipolar Disorder, Depression, Others); by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies); by Region (North America, Europe, Asia Pacific, Middle East & Africa (MEA), South America) : Global opportunity analysis and industry forecast 2021-2027

Antipsychotic Drugs Market by Therapeutic Class (First-generation, Second-generation); by Application...

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Antipsychotic Drugs Market by Therapeutic Class (First-generation, Second-generation); by Application (Schizophrenia, Dementia, Bipolar Disorder, Depression, Others); by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies); by Region (North America, Europe, Asia Pacific, Middle East & Africa (MEA), South America) : Global opportunity analysis and industry forecast 2021-2027
Antipsychotic Drugs Market by Therapeutic...
Report Code
RO14/128/1774

Publish Date
03/Oct/2021

Pages
190
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The global antipsychotic drugs market size was projected at more than $12,416.60 million in 2020. The market is forecasted to grow at a CAGR of 7.9% during the forecast period from 2021 to 2027. 

Antipsychotic drugs are a group of psychotropic medications used for the treatment of schizophrenia, bipolar disorder, and other psychosis.  Psychosis occurs due to mental illness that results in the loss of reality. 

COVID-19 Impact

Neurological activities like Community-based mental health support systems faced a severe impact after the advent of COVID-19. Group meetings, organizations, and community-based initiatives for mental health were all halted due to the pandemic. 

A neurological institute in Buenos Aires, Argentina, recorded a 99% decline in appointments after the COVID-19 pandemic. 

The maximum decline was seen in the demand for face-to-face mental health services. The terror of infection, especially among the elders, abruptly declined the market growth.  Many organizations had to choose a remote method to provide consultations to the patients.

Furthermore, COVID-19 developed a rapid disruption in the antipsychotic drugs market. Mental health provision had to switch their treatments to the COVID-19 patients. General hospitals had to transform their Psychiatric wards to treat COVID-19 patients. 

Factors Affecting

The global antipsychotic drugs market is growing, owing to the pervasiveness of mental disorders, the rise in the geriatric population, and the increasing number of awareness programs for mental health. Moreover, education regarding mental disorders and prohibition of stigma for mentally ill people lead the growth of the global antipsychotic drugs market. However, the expensive treatment cost is expected to decelerate the market growth.

Advancement in products is likely to enhance the growth of the market.  Several pharmaceutical companies are engaged in the R&D of antipsychotic medications, owing to the steep increase in bipolar cases. Hence, it would heighten the growth of the global antipsychotic drugs market. 

Moreover, hesitation in patients regarding mental health clinics declines the overall market growth. Patients hesitate by the thought about visiting clinics for prescriptions. Meanwhile, only doctors can recommend helpful drugs and the method of using a prescription. However, the advent of telemedicine is likely to boost the global antipsychotic drugs market growth in the future.

Regional Analysis

North America held dominance by becoming the leading shareholder in the global antipsychotic drugs market. The prevalent infrastructure, increase in the adoption of mental healthcare services, growing geriatric population, and increase in the pervasiveness of mental diseases are likely to accelerate the market growth. 

Apart from that, Asia-Pacific is expected to grow at the highest CAGR during the analysis period. The region has recorded a steep improvement in mental health awareness, healthcare infrastructure, and growth in hospitals and advanced medical facilities.

Key Market Segments

By Therapeutic Class

  • First-generation
  • Second-generation

By Application

  • Schizophrenia
  • Dementia
  • Bipolar Disorder
  • Depression
  • Others

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

By Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

Key Market Players 

  • Eli Lily and Company
  • AstraZeneca plc
  • GlaxoSmithKline plc
  • Johnson & Johnson
  • Otsuka Pharmaceutical Co, Ltd.
  • Pfizer Inc. 
  • AbbVie Inc.
  • Bristol-Myers Squibb
  • Teva Pharmaceuticals
  • Dr. Reddy's Laboratories
  • Other Prominent Players

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