Antipsychotic Drugs Market Forecasts from 2023 to 2028

The global antipsychotic drugs market was valued at US$15.214 billion in 2021 and is projected to expand at a CAGR of 5.94% over the forecast period to reach US$22.783 billion by 2028.

Market Overview

Antipsychotic medicines, commonly known as antipsychotic drugs or just antipsychotics, are administered to address mental health issues temporarily or permanently. These medications aid in reducing and controlling psychotic symptoms including mania, sadness, delusions, and anxiety. They accomplish this by blocking the brain's dopaminergic pathways. It is crucial to the healthcare industry and therefore is anticipated to expand the antipsychotic drugs market throughout the projected period.

Major mental diseases are becoming more prevalent, placing significant demand on the healthcare system, services, and practitioners. As a result, the leading antipsychotic drugs market players are devoting their best efforts and investments to the creation of drugs that are exceptionally safe and efficient and can be used to treat patients with psychotic illnesses wherever in the globe. Furthermore, there seems to be reduced demand for in-person mental health care, especially among the elderly population, as a result of this fear of sickness. With varying degrees of success, several providers have been forced to make the switch to remote healthcare, offering consultations over the phone or through online platforms.

Market Drivers

• Increasing clinical trials and demand for retail pharmacies

A surge in R&D efforts for innovative antipsychotic medications was influenced by the growing patient population. Drug development is supported by an increasing number of clinical trials for these medications, which is projected to spur market expansion. Additionally, it is predicted that the antipsychotic drugs market size will grow significantly due to the increasing use of long-acting injectables to treat these conditions.

Opportunities for the antipsychotic drugs market growth are created by the rise in the number of antipsychotic medications distributed through retail pharmacies and the rise in the number of retail pharmacies in developed nations. Additionally, because retail pharmacies are more convenient for customers to reach, patients prefer them for medicine purchases.

• Rise in the prevalence of mental health disorders

A significant antipsychotic drugs market growth driver is the increase in the incidence of mental health problems including schizophrenia and bipolar disorder in the population. According to NAMI, approximately 40 million persons in the United States, or 18.1% of the population, suffer from anxiety disorders each year. An anxiety condition is identified in nearly half of people with a depressive diagnosis. The World Health Organisation (WHO) has suggested mental health action plans to enhance mental health and prevent mental diseases in the member nations, according to the same source.

• Depression among the younger generation

Depression affects people of all ages, from all racial, ethnic, and socioeconomic origins, although certain groups are more vulnerable to illness than others. According to data from the World Health Organisation, depression affects more than 280 million individuals worldwide, accounting for an estimated 3.8 percent of the population. Even though anxiety disorders are quite curable, only around one-third of those who have them obtain therapy. As a result, the antipsychotic drug market is expanding as mental diseases become more common.

• Increasing government initiatives

Governments all around the world are placing higher importance on mental health, which has led to the introduction of programs and laws to enhance mental healthcare services. These measures, which are fueling the expansion of the schizophrenia drugs market, include better access to treatments, awareness campaigns, and greater financing for research. Significant adverse effects are possible with antipsychotic drugs, especially those used for schizophrenia. Sedation, weight gain, metabolic abnormalities, mobility problems, and cardiovascular issues are typical adverse effects.

• Schizophrenia is anticipated to grow significantly

Schizophrenia starts at a very young age, usually 15-25 for men and 25-35 for women. It affects men and women in equal numbers. If it occurs in children, especially before the age of 18, the cases are very severe. About 20% of new schizophrenia cases can occur in people over 45 years of age. Delusion symptoms are very common in this case and less-severe negative symptoms and effects on the ability to think and focus.

North America is anticipated to witness considerable growth during the forecast period

North America is predicted to hold a notable share of the antipsychotic drugs market due to the enhanced regulatory environment, high prevalence of disease, and government initiatives. For instance, according to information released by John Hopkins Medicine in 2020 under the title "Mental Health Disorder Statistics" Around 1% of the American Population suffers from schizophrenia. Furthermore, males who have schizophrenia often develop it in their late teens or early twenties, whereas women who have it tend to do it in their late twenties or early thirties, which is anticipated to fuel the antipsychotic market size.

Market Developments

• In October 2022,Osanetant (ACER-801), a medication for treating acute stress disorder and post-traumatic stress disorder (PTSD), was given a new indication by Acer Therapeutics Inc.
• In February 2022, Positive findings from ENLIGHTEN-early, a phase 3b trial evaluating the use of LYBALVI in the treatment of schizophrenia disorder, were reported by Alkermes plc.
• In January 2022, Otsuka American Pharmaceutical, Inc., and Lundbeck, Inc., the U.S. FDA accepted REXULTI®'s supplemental new drug application for the treatment of schizophrenia in patients aged 13 to 17.
• In 2021, Neurocrine Biosciences received the right to create and market Sosei Heptares' dual M1/M4 and M4/M1 muscarinic receptor agonists. To test one of the M4 agonists as a possible schizophrenia therapy, Neurocrine Biosciences intends to submit an investigational new drug application to the Food and Drug Administration and start a placebo-controlled phase 2 research.

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

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others