The global antipsychotic drugs market size was valued at USD 17.43 billion in 2023 and is anticipated to reach around USD 31.37 billion by 2033, growing at a CAGR of 6.05% from 2024 to 2033.
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The U.S. antipsychotic drugs market size was estimated at USD 6.47 billion in 2023 and is predicted to be worth around USD 11.64 billion by 2033 at a CAGR of 6.10% from 2024 to 2033.
North America led the market with the biggest market share of 53% in 2023, the region is observed to sustain the position throughout the forecast period. The strong prevalence of psychiatric illness in the region and the presence of top biopharmaceutical companies are several factors that drive market growth in the region during the estimated period. Furthermore, other factors, including the strong adoption of antipsychotics with technological authority in the region and general awareness of critical mental illness in the region, are anticipated to fuel the market growth.
Europe is anticipated to gain a considerable share of the antipsychotic drugs market over the forecast period. The great incidence of mental disorders in the area and rising awareness of psychiatric problems are to account for this. The rising focus on the development of advanced therapeutics for mental disorders in the region is observed to act as a growth factor for the market’s expansion. Moreover, the market is observed to grow.
Antipsychotics are medications used to treat severe mental illnesses like psychosis, as well as other emotional and mental disorders. They can also help relieve persistent hiccups and pain caused by restlessness in palliative care. Psychosis makes a person lose touch with reality, often leading to hallucinations or delusions. Hallucinations involve hearing voices that aren't real, while delusions are beliefs not based on reality. These medications help manage symptoms of psychosis and other mental health issues like bipolar disorder and mood disorders, which could potentially lead to psychosis. They work by adjusting neurotransmitter levels in the brain, which are chemicals that transmit messages throughout the brain. Antipsychotics mainly affect dopamine, a key neurotransmitter. An overactive dopamine system is thought to contribute to the hallucinations and delusions experienced during psychosis.
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 6.05% |
| Global Market Size in 2023 | USD 17.43 Billion |
| Global Market Size by 2033 | USD 31.37 Billion |
| U.S. Market Size in 2023 | USD 6.47 Billion |
| U.S. Market Size by 2033 | USD 11.64 Billion |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Therapeutic Class, By Disease, By Drug, and By Distribution Channel |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver
Rise in mental diseases worldwide
Healthcare systems and service providers are currently under stress due to the rise in mental diseases globally. The government is now focusing on creating a high and reliable level of information about diseases and their associated systems. Furthermore, the market players are investing and giving their best resources to innovate highly efficient and secure drugs that can be applied to treat people with mental disorders in all countries. Physicians are using telemedicine to deliver effective OTC treatments and provide guidelines on dispensing medications. This factor can also drive the growth of the antipsychotic drugs market.
Restraint
Lack of awareness about medications
The major factor expected to hinder the growth of the antipsychotic drugs market during the forecast period is a lack of knowledge and awareness about these medications. Most people are unaware of the fact that the incidence of psychotic disorders is increasing day by day worldwide. Moreover, even the patients who are suffering from this disease are unaware of the treatment and therapies that can benefit them in the future. This also prevents market players from expanding their business on a large scale.
Opportunities
Technological advancements and government funding
The antipsychotic drugs market is growing due to advancements in medical technology and increased competition. Government funding is expected to increase, and businesses will invest more in research and development (R&D), creating new opportunities for income and market expansion. The government is making efforts to educate the public about diseases and the effectiveness of medicines used to treat them.
Additionally, there is a growing demand for effective and safe medicines to treat patients with psychotic disorders worldwide. Companies are also focusing on developing injectable antipsychotic medications to address the need for easier monitoring of patients' drug intake.
Efforts made by the WHO
Increasing efforts by the WHO to treat dementia and a rise in awareness about mental disorders are driving demand for these drugs. Moreover, the rise in mental disorders such as bipolar and schizophrenia among most of the population and investments made by government and private organizations are major factors in boosting the antipsychotic drugs market’s growth.
The schizophrenia segment dominated the antipsychotic drugs market in 2023 and is expected to grow at the fastest pace. This leading position is attributed to the strong prevalence of these diseases worldwide. Combined with many product launches, the rising geriatric population who are more prone to the onset of schizophrenia is also raising the demand for the medications used in this disease.
Besides the schizophrenia segment, the bipolar disorder segment is observed to hold a significant share of the antipsychotic drugs market. Bipolar syndrome is considered the 6th largest contributor among the total disabled patients in the world by WHO; this can further drive the segment growth in the future.
The second-generation segment held the largest share of the antipsychotic drugs market over the forecast period. The segment's growth is linked to the presence of a huge number of second-generation drugs in the market, like HAFYERA, INVEGA, SEROQUEL, XR, ZYPREXA, etc., which are prominent second-generation drugs in the market. Moreover, the improved efficiency and safety of the drugs from this generation will drive the growth of the market.
The third-generation segment is expected to grow at the fastest rate during the forecast period in the antipsychotic drugs market. New technological advancements compared to other classes of medicine are some factors that contribute to the overall growth of the antipsychotic drugs market. The upcoming innovation in the drug development procedures is also observed to create a significant driver for the segment’s growth.
The aripiprazole segment dominated the antipsychotic drugs market in 2023. The adoption of third-generation products increases this segment's sales. Also, product approvals are expected to register the highest growth in the forecast period.
The paliperidone palmitate segment is expected to hold a considerable share of the antipsychotic drugs market during the projected period. This medication is used to treat certain mental and mood disorders. It functions by helping to restore the balance of chemical substances in the brain.
The hospital pharmacies segment held the largest share of the antipsychotic drugs market in 2023. The segment is observed to sustain the position throughout the forecast period. This is because most treatment medications require prescriptions from qualified medical professionals after thorough examinations conducted at these institutions. Hospital pharmacies usually offer precise therapeutics with prescriptions. Thereby, the rate of purchasing antipsychotic drugs from hospital pharmacies is comparatively high.
The drug stores & retail pharmacies segment is expected to gain a significant share of the antipsychotic drugs market. These places are important for obtaining prescription refills, particularly for oral medications. Multiple pharmacy stores have started offering product knowledge at stores or via sites, this makes it even more convenient for buying drugs for patients.
Segments Covered in the Report
By Therapeutic Class
By Disease
By Drug
By Distribution Channel
By Geography
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