Global Antipsychotic Drugs Market Overview:
According to the World Health Organization (WHO), there are an estimated 300 million people who are affected by depression and 60 million people who are affected by bipolar disorders worldwide which result in the demand of antipsychotic drugs. One-fourth of people are affected by mental or neurological disorders at some point in their lives. Psychosis is a group of disorders with serious distortion of thought, behavior, recognition of reality and perception. The patient can experience delusions and hallucinations and may have misperception and wrong evaluation of the situation, facts or other people. Antipsychotic drugs are one of the top-selling and most widely prescribed drugs for managing psychotic conditions in the United States. The increasing prevalence of psychosis and diseases associated with it are driving the Global Antipsychotic Drugs.
- Introduction of new Antipsychotic Compounds by researchers
- The rising prevalence of mental health disorders such as Schizophrenia and Bipolar Disorder
- With the increasing cases of Psychotic Disorder leading to increase the interest of the Government in R & D of such type of drugs.
- Increasing cases of addiction Antipsychotic Drugs resulting in drug abuse and addiction
- Schizophrenia patients are reported to be more prone to drug abuse and addiction.
- Poor Efficiency and Efficacy of Antipsychotic Drugs
- The impending patent expirations of several blockbuster drugs and threat of cheap generics used in the market
- High investment for R & D and increasing efforts by the market players to expand therapeutic application in this area are anticipated to provide opportunity to the market in the forecast period.
- Adverse effects of the drugs like Insomnia, dry mouth, drowsiness, blurred vision impacting patients health is posing a challenge for the market.
The market appears to be fragmented by the many players who are introducing generic versions of antipsychotic drugs and have begun investigating new therapeutic applications for these products hence the generic products are slowly replacing the established brands in antipsychotic market. Moreover, Pharmaceutical companies are still significantly investing in the development of novel antipsychotic drugs. Moreover, Rapid discoveries on antipsychotic drugs are being carried out by researchers such as According to National Institute of Health (NIH), In January 2018 research funded by them, Antipsychotic Risperidone could help in the creation of better treatments for schizophrenia, bipolar disorder, and other mental illnesses. They could understand that how atypical antipsychotic drugs bind to primary molecular target in the human brain.
Some of the key players profiled in the report are Eli Lilly & Co. (United States), Bristol-Myers Squibb (United States), AstraZeneca (United Kingdom), Pfizer Inc. (United States), GlaxoSmithKline plc. (United Kingdom), Johnson & Johnson (United States) and Allergan (Ireland). Additionally, following companies can also be profiled that are part of our coverage like Takeda Pharmaceutical Company Limited (Japan), H. Lundbeck A/S (Denmark), Otsuka Pharmaceuticals (Japan) and Proteus Digital Health (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Antipsychotic Drugs market by 2026. Considering Market by Drug Class, the sub-segment i.e. Haldo will boost the Antipsychotic Drugs market.
Latest Market Insights:
In October 2018, Proteus Digital Health has collaborated with Ostuka Pharmaceuticals on a pipeline of digital, oral solid-dosage drugs for various therapies, including cardiovascular and oncology drugs, based on its first NDA (New Drug application) ABILIFY MYCITE which received FDA approval in November 2017, The drug used ingestible sensors in an antipsychotic treatment.
In September 2018, Takeda Pharmaceutical Company Limited and H. Lundbeck A/S announced that U.S. Food and Drug Administration (FDA) approved a supplemental new drug application for TRINTELLIX (Vortioxetine) in Japan for the treatment for Major Depressive Disorder (MDD). and A study conducted for this drug suggested that Pivotal phase III trial demonstrated positive results of Vortioxetine as compared to placebo for the treatment of MDD in Japanese adults.
What Can be Explored with the Antipsychotic Drugs Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Antipsychotic Drugs Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Antipsychotic Drugs
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Antipsychotic Drugs market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Antipsychotic Drugs market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Anti-psychotic Drugs Manufacturers, Anti-psychotic Drugs Suppliers, Private Research Laboratories, Research and Development (R&D) Companies, Market Research and Consulting Service Providers, Government Research Laboratories and Contract Manufacturing Organizations.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.