The
global antipsychotic drugs market is expected to
reach USD 14.4 billion by 2025, according to a new report by Grand View
Research, Inc. The continuous development of better next-generation products to
overcome adverse effects and unwanted reactions of existing products is
creating demand for newer products. This factor is anticipated to propel the
market.
Rapid growth of
antipsychotics can be attributed to the rising prevalence of psychosis and
other mental disorders. Governments are focused on creating awareness regarding
mental health and psychological illnesses, which is further anticipated to
drive the demand for antipsychotics. Government bodies in collaboration with
major players conduct social programs to break the stigma related to psychotic
disorders that exists in the society.
Adverse effects of
antipsychotics, such as insomnia, dry mouth, drowsiness, and blurred vision,
are expected to affect the growth by decreasing the level of acceptance in
patients. In addition, the possibility of dependency, habit formation, or
addiction is affecting the adoption of these drugs.
Established brands such
as, Zyprexa lost patent protection in October 2011, followed by Seroquel and
Risperdal in 2012, which hampers the market growth for these drugs. Also, the
entry of generic versions of these products slowed the growth of the already
existing brands.
Full research report on antipsychotic drugs market analysis: http://www.grandviewresearch.com/industry-analysis/antipsychotic-drugs-market
Further Key Findings From the Study Suggest:
·
The
growing prevalence of mental disorders, increased investments on R&D, and
rising awareness regarding these conditions are augmenting the growth of the
market.
·
The
first-generation of antipsychotics have serious adverse effects and are very
rarely used, hence they hold negligible share in the market.
·
The
second-generation segment of drugs accounted for the largest share in 2015 and
are anticipated to further expand during the forecast period despite the
adverse effects
·
As
of January 2016, the third-generation segment has only one approved product,
Abilify. It has negligible adverse effects and is expected to be the fastest
growing segment over the forecast period
·
In
2015, North America dominated the global space with the largest revenue share
owing to rising prevalence of mental illnesses
·
Asia
Pacific is expected to emerge as the fastest growing region during the forecast
period, mainly due to growing social awareness regarding mental disorders and
improving access to treatment
·
Some
of the major players in this market are Johnson & Johnson; Pfizer, Inc.;
Eli Lilly & Co.; and Bristol-Myers Squibb
View more reports of this category by Grand
View Research at: https://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has
segmented the antipsychotic drugs market by drug class, application, and
region:
Antipsychotics
Drug Class Outlook (Revenue, USD Million; 2014 - 2025)
·
First
Generation
·
Second
Generation
·
Third
Generation
Antipsychotics
Application Outlook (Revenue, USD Million; 2014 - 2025)
·
Schizophrenia
·
Bipolar
disorder
·
Unipolar
depression
·
Dementia
·
Others
Antipsychotics
Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North
America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia
Pacific
o
China
o
Japan
·
Latin
America
o
Mexico
o
Brazil
·
MEA
o
South
Africa
Access
press release by Grand View Research: https://www.grandviewresearch.com/press-release/global-antipsychotic-drugs-market
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
