Global antipsychotic drugs market forecast
According to Technavio’s market research report, the global antipsychotic drugs market will grow at a CAGR of almost 2% during the forecast period. The introduction of enhanced next-generation products will drive the growth prospects for the market during the estimated period. The first-generation or typical antipsychotic drugs such as chlorpromazine, haloperidol, and fluphenazine were thought to produce extrapyramidal side-effects (EPSE). As a result, these drugs were discontinued and second-generation antipsychotic drugs were introduced. Clozapine, risperidone, olanzapine, quetiapine, and ziprasidone are second-generation antipsychotic drugs, which are also known as atypical antipsychotic drugs. Further research and developmental activities resulted in the introduction of Bristol-Myers Squibb's ABILIFY, which is referred to as a third-generation antipsychotic drug. This drug is used to treat schizophrenia and bipolar disorder and exhibits improved efficacy and lesser side effects. The introduction of such enhanced new antipsychotic drugs will boost growth in the market.
Based on the antipsychotic drugs industry analysis, the Americas dominated the global antipsychotic drugs market during 2016. The region is expected to grow at a moderate pace due to patent expiry of major drugs such as Geodon, Zyprexa, ABILIFY, SEROQUEL, and Prozac. However, the region will continue to dominate the market during the estimated period due to the introduction of NUPLAZID by Acadia Pharmaceuticals. This drug is highly popular in the treatment of most common symptoms of all mental disorders such as hallucination and delusion.
Competitive landscape and key vendors
The global antipsychotic drugs market is highly fragmented and is characterized by the presence of several small and mid-sized players. These vendors are increasingly competing against each other based on factors such as emerging indications or applications, major patent expiries, and the rising prevalence of mental disorder in the developed and other developing countries. The patent expiry of major drugs such as Zyprexa and Seroquel will negatively influence the growth prospects of vendors. This, in turn, will create an opportunity for generic players to enter the market and strengthen the competitive environment of the market.
Key vendors in this market are
- AstraZeneca
- Eli Lilly
- GlaxoSmithKline
- Johnson & Johnson
Other prominent vendors in the market include Actavis Generics, Alkermes, and Bristol-Myers Squibb.
Segmentation by type and analysis of the antipsychotic drugs market
- Schizophrenia
- Bipolar disorder
- Unipolar depression
- Dementia
The increasing incidence rate of schizophrenia is driving the use of antipsychotic drugs. Schizophrenia is an abnormal behavior and is characterized by the inability of an individual to make distinctions between assumptions and reality. The individual suffering from schizophrenia hears voices that are not real, develops a confused thinking, and experiences a lack of motivation and social engagement. In some cases, individuals acquire schizophrenia genetically. In other cases, exposure to cannabis, poor nutrition during pregnancy, and certain infections cause schizophrenia. The treatment of schizophrenia is administered by prescribing antipsychotic medications and this will stimulate growth in the segment.
Segmentation by MoA and analysis of the antipsychotic drugs market
- First generation antipsychotic drugs
- Second generation antipsychotic drugs
- Third generation antipsychotic drugs
According to the antipsychotic drugs market analysis, the second-generation antipsychotic drugs segment dominated the antipsychotic drugs market with the highest market shares. These drugs are preferred over first-generation antipsychotic drugs because they involve lesser side effects and are highly efficient in the treatment of various mental disorders. The adoption of these drugs is high because they reduce EPSE, controls symptoms, and maintains the normal levels of prolactin. This segment yields a high prescription value that in turn, will drive growth in the segment during the forecasted period.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global antipsychotic drugs market?
- What are the key market trends impacting the growth of the global antipsychotic drugs market?
- What are the challenges to market growth?
- Who are the key vendors in the global antipsychotic drugs market?
- What are the market opportunities and threats faced by the vendors in the global antipsychotic drugs market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global antipsychotic drugs market?
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Disease overview
- Psychosis
- Symptoms of psychiatric disorder
- Causes of psychiatric disorder
- Treatment of psychiatric disorder
- Medical use of antipsychotic drugs
PART 06: Key clinical trials
PART 07: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 08: Market segmentation by disease type
- Market overview based on disease type
- Schizophrenia
- Bipolar disorder
- Unipolar depression
- Dementia
- Others
PART 09: Market segmentation based on MoA
- Market overview based on MoA
- First-generation antipsychotic drugs market
- Second-generation antipsychotic drugs market
- Third generation antipsychotic drugs market
PART 10: Geographical segmentation
- Market overview based on geography
- Antipsychotic drugs market in Americas
- Antipsychotic drugs market in EMEA
- Antipsychotic drugs market in APAC
PART 11: Decision framework
PART 12: Drivers and challenges
- Market drivers
- Market challenges
PART 13: Market trends
- Rising public interest toward mental health
- Increase in use of LAI antipsychotic drugs
- Antipsychotics with novel MoA
PART 14: Vendor landscape
PART 15: Key vendor analysis
- AstraZeneca
- Eli Lilly
- GlaxoSmithKline
- Johnson & Johnson
- Other prominent vendors
PART 16: Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape