Antipsychotic Drugs Market Revenue Growth Predicted by 2026

Anti-psychotic drugs, also called tranquilizers or neuroleptics, are a specific type of medication that are majorly used for the treatment of schizophrenia or bipolar disorder. They are used to manage psychosis, including hallucinations, delusions, and disordered thought of paranoia, among others. Anti-psychotic drugs are effective for the treatment of psychosis in a short duration. These drugs block the dopamine receptors in the dopaminergic pathways of the brain, thereby repressing the effect of dopamine, which is directly linked to the psychotic experiences. Increasing prevalence of mental illness in turn has led to high consumption of antipsychotics.

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According to National Alliance of Mental Illness 2015, 1 in 5 adults suffer from mental illness, which accounts for 18.5% of the total population suffering from the mental issues. However, long-term use of these drugs may result in side effects such as metabolic syndrome and involuntary movement disorder, ultimately leading to increased mortality in geriatric population with dementia.

Increase in prevalence of mental disorders to fuel the growth of anti-psychotic drugs market

Schizophrenia is the prime cause of psychosis across the globe and patients suffering with the disorder are more likely to succumb to physical and mental illness. According to the World Health Organization (WHO), over 21 million people worldwide were affected with schizophrenia in 2016. The WHO also states that one in two people suffering from schizophrenia do not receive appropriate care for the condition. This creates an opportunity for the market players in the global anti-psychotic drugs market to develop cost-effective medications for the treatment of this disease. Furthermore, according to the National Alliance of Medical Illness in 2017, around 1.1% adults in the U.S. live with schizophrenia, while 2.6% of the population in the country suffer from bipolar disorder. On an average, 1 in 5 adults, which adds to around 43.8 million people or 18.5% of the total population in the U.S., experience some or the other kind of mental illness in a particular year. High prevalence and increasing incidence of neurological of disorders is supporting growth of the anti-psychotic drugs market.

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Key players focusing on development of novel and innovative therapeutic medication to strengthen their presence in the global antipsychotic drugs market

The key players dominating the global antipsychotic drugs market are AstraZeneca, Pfizer, Inc., Eli Lily and Co., Bristol- Myers Squibb, Johnson & Johnson, GlaxoSmithKline, and Allergen. These players are involved in developing innovative drugs for treatment of psychotic diseases with reduced side effects of the drugs to increase the consumption of the product in market. Otsuka Pharmaceuticals in November 2017 received an FDA approval for the first ever antipsychotic drug treatment Abilify MyCite, which is imbued with a digital ingestion tracking system that intends to treat Schizophrenia and acute attacks of bipolar disorder.

North America to dominate the global anti-psychotic drugs market, owing to increasing number of patients suffering from mental disorders

On the basis of geography, the global anti-psychotic drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the largest market share in the global anti-psychotic drugs market, attributable to rising prevalence of psychosis among the youth as well increase in the prevalence of schizophrenia among the geriatric population. According to the social stats of National Academy of Mental Illness in 2017, around 70% of youth in the juvenile justice systems in the U.S suffered from at least from one mental health condition, while 20% live with a serious mental illness. Asia Pacific is expected to exhibit a significant growth in the global anti-psychotic drugs market.

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