Antipsychotic Drugs Market Size, Share & Segmentation By Therapeutic Class (First-Generation and Second-Generation), By Application (Schizophrenia, Dementia, Bipolar Disorder, Depression, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), By Regions and Forecast 2023-2030

Antipsychotic Drugs Market Report Scope & Overview:

Antipsychotic Drugs Market size was valued at USD 13.8 Billion in 2022 and is expected to reach USD 25.92 Billion By 2030 and grow at a CAGR of 8.2% over the forecast period of 2023-2030.

The global pharmaceutical market for drugs used to treat psychotic diseases, especially antipsychotic treatments, is referred to as the "Antipsychotic Drugs Market." A set of mental conditions known as psychotic disorders exhibit abnormal thinking and perceptions, such as hallucinations, delusions, and disjointed thoughts. Neuroleptics, commonly referred to as antipsychotic medicines, are a class of drugs that help treat the symptoms of psychotic diseases such as schizophrenia, bipolar disorder, and some forms of depression. They function by bringing certain neurotransmitter levels in the brain into balance, including dopamine and serotonin, which are involved in controlling mood and perception. Psychiatrists and other medical experts can prescribe both branded and generic antipsychotic pharmaceuticals, which are sold on the market.

These drugs are available in a variety of dose forms, including tablets, capsules, injectables, and long-acting formulations. The market for antipsychotic drugs has been growing steadily over the years, driven by factors such as the increase in psychotic illnesses, better mental health understanding and diagnosis, and advancements in pharmaceutical research. However, market dynamics may be impacted by regional variations in drug availability and healthcare access. Pharmaceutical companies that develop and manufacture these medications have a significant role in the antipsychotic drug market. They invest in R&D to develop new antipsychotic drugs that are safer, more effective, and have fewer side effects. Antipsychotic drugs are often prescribed and include risperidone, olanzapine, quetiapine, aripiprazole, and clozapine.

Market Dynamics

Drivers

• Globally, there has been a marked rise in mental health awareness.
• Off-label Use and Combination Therapies.

Antipsychotic medicines are sometimes used off-label for the management of many psychiatric illnesses, including depression, anxiety disorders, and personality disorders. Additionally, combination therapies incorporating antipsychotic medicines and other medications or psychotherapy may be performed for greater treatment success. These practises lead to the need for antipsychotic medicines.

Restrain

• Antipsychotic medications may have a number of adverse effects, including sleepiness, weight gain, metabolic problems, mobility problems, and cardiovascular issues.

• stigma and how mental health is viewed.

Adoption and acceptance of antipsychotic medications may be hampered by the stigma associated with mental health issues. People may be deterred from obtaining appropriate diagnosis and treatment due to societal biases and unfavourable opinions. For the market to grow, eliminating stigma and raising awareness about mental health are essential.

Opportunity

• New antipsychotic medications with enhanced effectiveness and tolerability profiles are always needed.

• Long-Acting and Extended-Release Formulations.

Antipsychotic medication formulations with long half-lives offer advantages such as increased patient compliance, practicality, and less frequent administration. The creation of long-acting and extended-release formulations presents a chance to improve treatment options, particularly for patients who might struggle to take their medications as prescribed on a daily basis.

Challenge

• Antipsychotic medications include a variety of side effects that can include sedation, weight gain, metabolic issues, mobility problems, and cardiovascular issues.

• Ineffective Treatment for Some Patients.

Antipsychotic medications help many people with psychotic disorders, although not everyone benefits from them in the same way. Finding the best drug and dosage for each person is difficult due to variations in treatment response and efficacy. This emphasises the necessity of developing alternative treatment choices and personalised medicine methodologies.

Impact of Russia and Ukraine-War

Foreign exchange rate fluctuations have recently had an effect on the world economy. Our revenue is based on foreign currency to the tune of 48% of total revenue. Our sales, operational results, financial results, and cash flows are all negatively impacted by the appreciation of the US dollar relative to other currencies in which we do business. Additionally, we produce a lot of our products outside of the United States, which can differ.
Lower costs are the result of degrees. Additionally, recent economic turbulence and monetary tightening by central banks have been brought on by rising inflation rates. The prolonged conflict between Russia and Ukraine has also had an effect on the world economy, driving up energy prices and upsetting both the global and domestic supply chains of the company.

Exchange rate changes had an impact on the company balance sheet because non-U.S. dollars made up about 65% of the company's reported net assets (which include both monetary and non-monetary assets). Changes in exchange rates had a negative effect on firm equity at the end of 2022 of $354 million when compared to the end of 2021. The value of the Chilean peso fell by 12%, the Polish zloty by 11%, the Japanese yen by 9%, the euro by 8%, the British pound by 8%, the Bulgarian lev by 8%, the Swiss franc by 5%, and the Peruvian nuevo sol by 4% versus the U.S. dollar. The value of the Russian ruble against the dollar climbed by 28%. Every comparison is made from year-end to year-end.

Impact of Ongoing Recession

Record inflation rates in recent months have caused major volatility and disruptions in the world economy. Central banks in the markets in which we operate, such as the US Federal Reserve, have tightened their monetary policies and raised interest rates in reaction to growing inflation; these actions may continue if there is a period of persistently high inflation. Higher interest rates and financial market volatility Markets may result in a recession or more economic ambiguity. Increased inflation rates have increased operating costs for us and our suppliers, including costs for labour, raw materials, manufacturing, goods, and R&D. There is no guarantee that we will be able to quickly raise our prices to cover our rising costs or that rising inflation and its wider implications for the markets in which we operate in the future won't have a major impact on our operations. The global economy has been harmed by fluctuating foreign exchange rates in addition to rising inflation. Increased oil prices and geopolitical unrest, such as the ongoing conflict between Russia and Ukraine, have compounded supply chain disruptions brought on by the COVID-19 epidemic and the government's and the public's responses to it.

Market Segmentation

By Therapeutic Class

• First-Generation

• Second-Generation

By Application

• Schizophrenia

• Dementia

• Bipolar Disorder

• Depression

• Others

By Distribution Channel

• Hospital Pharmacies

• Retail Pharmacies

• Online Pharmacies

REGIONAL COVERAGE

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Regional Analysis

North America: The Antipsychotic drug Market is dominated by the North American region, which includes the United States and Canada. A strong healthcare system, active research and development efforts, and a high frequency of psychotic diseases are all advantages. Market competition for antipsychotic medications, both branded and generic, is present in the area. The market in this region is being shaped primarily by strict regulatory requirements, changing healthcare policies, and an increasing emphasis on personalised treatment.

Asia-Pacific: The antipsychotic medicine industry is expanding quickly in the Asia-Pacific area, which includes nations including China, India, Japan, South Korea, and Australia. The area has a sizable population, rising healthcare costs, increased mental health awareness, and expanded access to medical treatments. To fulfil the varied demands of patients in this area, the market is seeing the launch of generic substitutes, collaborations for clinical studies, and the development of cutting-edge medication delivery systems.

Key Players

The major key players are AstraZeneca Plc., Bristol-Myers Squibb, Pfizer Inc., Johnson & Johnson (Janssen Pharmaceuticals), dr. Reddy Laboratories Limited, Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Alkermes Plc., Otsuka Holdings Co. Ltd., Abbvie lnc. and the final reports list additional participants.

AstraZeneca Plc-Company Financial Analysis

Recent Development

ALKERMES PLC: In 2022, global pharmaceutical company Alkermes Plc released encouraging findings from the phase 3b research project ENLIGHTEN Early, which evaluated the use of LYBALVI in patients' early illnesses.

OTSUKA PHARMACEUTICAL CO., LTD: Otsuka Pharmaceutical Co., Ltd., Otsuka American Pharmaceutical, Inc., and Lundbeck, Inc. announced in January 2022 that the U.S. The FDA has accepted the REXULTI Supplemental New Drug Application for Schizophrenia in Patients Ages 13 to 17 years.

DR. REDDY’S LABORATORIES LIMITED: The pharmaceutical business, Dr. Reddy's Laboratories Ltd., introduced Fluphenazine Hydrochloride tablets in February 2021. The drug is used to treat the signs and symptoms of psychotic illnesses.