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The antipsychotic drugs market size has seen significant growth in recent years, expected to rise from $17.82 billion in 2023 to $19.5 billion in 2024, at a CAGR of 9.4%. This historic growth is driven by several factors, including the increasing prevalence of mental health disorders, the development of second-generation antipsychotics, a growing geriatric population, improvements in healthcare infrastructure, and substantial investment in research and development. In the upcoming years, the antipsychotic drugs market is projected to grow further, reaching $28.3 billion in 2028 at a CAGR of 9.8%. Key factors contributing to this anticipated growth include the rising incidence of schizophrenia and bipolar disorder, supportive government policies and funding, growing demand for personalized medicine, a focus on minimizing side effects, and the emergence of mental health advocacy and support groups. Prominent trends expected during this period include the integration of digital health tools for monitoring, the development of novel mechanisms of action, a focus on combination therapies, the adoption of pharmacogenomics for tailored treatments, and an emphasis on patient-centric drug development.

The growing incidence of mental disorders is likely to propel the growth of the antipsychotic drug market in the foreseeable future. Mental disorders, often referred to as mental illnesses, are conditions that significantly impact a person’s thinking, behavior, mood, and overall mental health. The cases of mental disorders are influenced by various factors, including stress levels, societal pressures, genetic predisposition, biochemical imbalances, neurodevelopmental issues, and physical health conditions. Antipsychotic drugs function by modifying the activity of neurotransmitters, primarily dopamine and serotonin, to mitigate psychotic symptoms, stabilize mood, and enhance cognitive and emotional functions. For example, in November 2023, a survey conducted by the Substance Abuse and Mental Health Services Administration (SAMHSA), a U.S. government agency for public health, indicated that approximately 6% of adults aged 18 or older, which equates to 15.4 million individuals, reported experiencing serious mental illness (SMI). Additionally, a survey conducted in December 2022 with 69,850 respondents aged 12 or older found that 5.5% of adults aged 18 and older, or 14.1 million people, were affected by mental illness in 2021. Therefore, the rising incidence of mental disorders is driving growth in the antipsychotic drug market.

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What Are The Key Trends That Influence Antipsychotic Drugs Market Share Analysis?

Major companies in the antipsychotic drug market are focused on developing advanced medical products, such as subcutaneous atypical antipsychotic injections, to enhance patient compliance and improve efficacy compared to traditional oral medications. Subcutaneous atypical antipsychotic injections are psychiatric drugs administered under the skin to treat mental illnesses, maintain stable blood levels, and improve symptom control. For instance, in April 2023, Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company, in collaboration with MedinCell SA, a French manufacturer of biological products and pharmaceutical preparations, launched UZEDY, which is an FDA-approved extended-release injectable formulation of risperidone designed as a long-acting subcutaneous injection with flexible dosing intervals of one or two months. UZEDY utilizes MedinCell’s proprietary SteadyTeq technology to ensure a steady medication release, reaching therapeutic levels within 6–24 hours of administration. In clinical trials, UZEDY demonstrated up to an 80% reduction in the risk of schizophrenia relapse compared to placebo, addressing adherence issues commonly associated with oral antipsychotics that often lead to relapse.

Which Market Players Are Driving Growth In The Antipsychotic Drugs Market?

Major companies operating in the antipsychotic drugs market are Pfizer Inc., Johnson & Johnson Services Inc., Merck And Co. Inc., AbbVie Inc., Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly And Company, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co. Ltd., Aurobindo Pharma Ltd., Cipla Ltd., H. Lundbeck A/S, Dr. Reddy’s Laboratories Ltd., Intas Pharmaceuticals Ltd., Apotex Inc., Lupin Limited, Glenmark Pharmaceuticals Ltd., Torrent Pharmaceuticals Ltd., Alkermes plc

How Is The Global Antipsychotic Drugs Market Segmented?

The antipsychotic drugs market covered in this report is segmented –

1) By Therapeutic Class: First Generation, Second Generation, Third Generation
2) By Disease: Schizophrenia, Bipolar Disorder, Unipolar Depression, Dementia, Other Diseases
3) By Distribution Channel: Hospital Pharmacies, Drug Stores, Online Pharmacies

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The Antipsychotic Drugs Global Market Report 2024 provides an overview of the antipsychotic drugsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The antipsychotic drugs market forecast analyzes antipsychotic drugs market size, antipsychotic drugs market share, leading competitor and their market positions.

The Table Of Content For The Antipsychotic Drugs Market Include

1. Antipsychotic Drugs Market Executive Summary
2. Antipsychotic Drugs Market Segments
3. Antipsychotic Drugs Market Size And Template Market Growth Rate
4.  Key Antipsychotic Drugs Market Trends
5. Major Antipsychotic Drugs Market Drivers
……
25. Key Mergers And Acquisitions In The Antipsychotic Drugs Market
26. Top Antipsychotic Drugs Companies
27. Antipsychotic Drugs Market Opportunities And Strategies
28. Antipsychotic Drugs Market, Conclusions And Recommendations
29. Appendix

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