Market Size of Antipsychotic Drugs Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Antipsychotic Drugs Market Analysis
The antipsychotic drugs market is expected to register a CAGR of 5.6% over the forecast period.
The emergence of the COVID-19 pandemic significantly impacted people with psychotic disorders due to lockdown restrictions, a high influx of COVID-19 patients, and an increased risk of contracting COVID-19. Hence, COVID-19 affects the ongoing treatment procedure, diagnosis, and treatment of new patients. For instance, according to a research article published in Nature in January 2021, dementia patients were at higher risk of contracting COVID-19 than non-dementia patients. Hence, COVID-19 had a significant impact on the market. Furthermore, the long-term effects of COVID-19 on people with psychotic disorders, along with higher adoption of telemedicine services in the post-pandemic, may have a further impact on the demand for antipsychotic drugs over the forecast period.
The rise in the prevalence of mental health disorders, such as schizophrenia and bipolar disorder, amongst the population, along with rising initiatives by the government and other private organizations for the awareness of psychotic disorders, is majorly driving the market. For instance, according to data published by the World Health Organisation (WHO) in March 2023, Approximately 55 million people in the globe have dementia, and 60% of them are from low and middle-income countries in 2022. Further, as per the same source, almost 10 million new cases of dementia are reported globally. In addition, increasing efforts by the World Health Organisation to address dementia and growing awareness of mental health are driving demand for antipsychotic drugs and fueling significant market growth during the forecast period.
Furthermore, as per the World Health Organization data published in February 2021, Depression is a common mental disorder affecting over 280 million people of all ages worldwide. Thus, the high prevalence of mental disorders is boosting the demand for antipsychotic drugs during the study period. Rising advancement in the research field for introducing blockbuster drug molecules also supports market growth. For instance, in January 2023, Eisai Co., Ltd. received the Food and Drug Administration approval for Leqembi via the Accelerated Approval Pathway for treating Alzheimer's disease. This introduction of advanced drug options for neurological disorders is further driving the adoption of antipsychotic drugs among the patient population globally.
Therefore, a growing number of mental disorder patients, awareness initiatives on mental disorders, and new product introductions are driving antipsychotic drug adoption and supporting market growth. While addiction caused due to antipsychotic drugs and the patent expiry of major drugs are the key factors hampering the development of the market.
Antipsychotic Drugs Industry Segmentation
As per the scope of the report, antipsychotic drugs, also called antipsychotic medications or simply antipsychotics, are prescribed as short or long-term treatment of mental health problems. These drugs help alleviate and control psychotic symptoms such as anxiety, depression, delusions, hallucinations, or mania. The Antipsychotic Drugs Market is Segmented by Application (Schizophrenia, Bipolar disorder, Unipolar depression, Dementia, Others), Drug Classification (First Generation and Second Generation), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Application | |
| Schizophrenia | |
| Bipolar Disorder | |
| Unipolar Disorder | |
| Dementia | |
| Others |
| By Drug Classification | |
| First Generation (Typical) | |
| Second Generation (Atypical) |
| Geography | ||||||||
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Antipsychotic Drugs Market Size Summary
The antipsychotic drugs market is poised for significant growth, driven by the increasing prevalence of mental health disorders such as schizophrenia and bipolar disorder. The market is experiencing a surge in demand due to heightened awareness and initiatives by governments and organizations to address these conditions. The COVID-19 pandemic has further influenced the market dynamics, impacting treatment procedures and increasing the adoption of telemedicine, which may continue to affect the demand for antipsychotic medications. The introduction of advanced drug options and ongoing research into new therapeutic molecules are also contributing to market expansion, as they offer promising solutions for neurological disorders.
Regionally, North America is expected to maintain a dominant position in the antipsychotic drugs market, supported by its robust healthcare infrastructure and favorable regulatory environment. The rising incidence of mental disorders and dementia in this region is driving demand, with companies actively engaging in strategic collaborations, product launches, and acquisitions to strengthen their market presence. The competitive landscape includes both global and local players, with key companies like AbbVie Inc., Pfizer Inc., and Johnson & Johnson leading the charge. As the market evolves, the focus on innovative treatments and addressing the needs of an aging population with increased susceptibility to mental health disorders will be crucial for sustained growth.
Antipsychotic Drugs Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Prevalence of Mental Disorders
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1.2.2 Increasing Focus of Governments and Health Care Organizations on Mental Health
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1.2.3 Constant Investment in Research and Development
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1.3 Market Restraints
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1.3.1 Addiction Caused Due to the Antipsychotic Drugs
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1.3.2 Patent Expiry of Major Drugs
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Application
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2.1.1 Schizophrenia
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2.1.2 Bipolar Disorder
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2.1.3 Unipolar Disorder
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2.1.4 Dementia
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2.1.5 Others
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2.2 By Drug Classification
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2.2.1 First Generation (Typical)
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2.2.2 Second Generation (Atypical)
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Antipsychotic Drugs Market Size FAQs
What is the current Global Antipsychotic Drugs Market size?
The Global Antipsychotic Drugs Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Global Antipsychotic Drugs Market?
Eli Lily and Company, Johnson and Johnson, Pfizer Inc., AstraZeneca plc and Otsuka Pharmaceutical Co, Ltd. are the major companies operating in the Global Antipsychotic Drugs Market.
