LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global antipsychotic drugs market is projected to grow to nearly USD 10,423 million by 2021, at a CAGR of nearly 2% over the forecast period.
This research report titled ‘Global Antipsychotic Drugs Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|Antipsychotic drugs, also called major tranquilizers or neuroleptics, are primarily used for the treatment of psychiatric disorders such as schizophrenia, hallucinations, delusions, bipolar disorder, and others. The antipsychotic drugs market is expected to grow due to the rising number of schizophrenic patients.|
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Based on the disease type, the report categorizes the global antipsychotic drugs market into the following segments:
- Bipolar disorder
- Unipolar depression
The top three revenue-generating disease type segments in the global antipsychotic drugs market are discussed below:
“Schizophrenia patients are the largest consumers of antipsychotic drugs, generating over 45% of the overall market revenue. In addition to the drugs, patients require counseling, job training, and social rehabilitation,” says Sapna Jha, a lead analyst at Technavio for central nervous system research.
Schizophrenia is a mental disorder characterized by false belief, unclear or confused thinking, hearing voices that are not real, reduction in social engagement, and lack of motivation. An individual with schizophrenia may also suffer from other mental health problems such as anxiety disorder, major depressive disorder (MDD), and substance use disorder.
Bipolar disorder is a mental disorder characterized by alternating periods of depression and elevated mood. The treatment for bipolar disorder includes mood stabilizing agents, antipsychotics, antidepressants, antidepressants-antipsychotics, and anti-anxiety medications.
The American Psychiatric Association and the UK National Institute for Health and Care Excellence also recommend the use of antipsychotics for managing acute psychotic episodes in individuals with schizophrenia or bipolar disorder or as a maintenance treatment for reducing the recurrence of further episodes in long duration.
People with unipolar depression account for nearly 10% of the consumers for the antipsychotic drugs market. The increasing expenditure on prescription drugs and rising prevalence of psychiatric disorders such as schizophrenia and unipolar depression are likely to drive the market growth.
“Depression without mania is called as unipolar depression. The treatment for the disorder involves the use of atypical antipsychotics in combination with other antidepressant drugs. For instance, the US FDA prescribes the use of ABILIFY, SEROQUEL, and Zyprexa in combination with fluoxetine for the treatment of unipolar depression,” says Sapna.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Eli Lily
- Johnson & Johnson
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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