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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