DUBLIN--(BUSINESS WIRE)--The "Antipsychotic Drugs Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The rise in the prevalence of mental health disorders, such as schizophrenia and bipolar disorder amongst the population is a major growth driver for the market. According to the Anxiety and Depression Association of America, around 16.1 million adults aged 18 years or older were suffering from depression in the United States during the year 2015-2016.
World Health Organization (WHO) have recommended mental health action plan to promote mental health and preventing mental disorders in the member states. In addition, according to the key facts published by WHO, an estimated 300 million people are affected by depression and 60 million people are affected by bipolar disorder, worldwide.
Anxiety disorders are the most communal psychiatric illnesses affecting children and adults. It is evaluated that 44 million American grown-ups experience the ill effects of uneasiness issue. Merely, about one-third of those suffering from an anxiety disorder receive treatment, even though the disorders are highly treatable.
Therefore, it is indicated that the market will majorly be driven by the rising prevalence of mental disorders.
Key Market Trends
Schizophrenia is Expected to Register a Highest CAGR Over the Forecast Period
Schizophrenia is a serious mental disorder and is affecting the large number of people across the globe. The disease is mainly characterized by the distortions in thinking, emotions, and sense of self and behavior. World Health Organization has stated that around 23 million people across the globe are affected by this disorder among which 12 million are male and 9 million are females. National Institute of Mental Health has stated that the prevalence of Schizophrenia and related symptoms is around 0.25% and 0.64% and this is increasing rapidly. This rise in the prevalence of the disease is contributing to the market growth.
As the disease is serious and it increases the chances of early death if not treated properly, there is a growing focus of companies to come up with the novel drugs for the treatment of this disease. Currently, there are several drugs available in the market and are approved by the US FDA. For instance, Chlorpromazine, Aripiprazole, Olanzapine, etc.
Asia-Pacific to Witness the Fastest Growth Rate Over the Forecast Period
Asia-Pacific is expected to witness the fastest growth rate during the forecast period. The healthy CAGR is expected due to rising social awareness regarding psychotic disorders and other associated disorders, such as mania, anxiety, and depression. The growing access and availability of medications for the treatment of mental illness are expected to propel the growth of the market. North America is expected to dominate the market share, owing to well-established healthcare infrastructure, better regulatory framework, and government support in the countries of this region.
The market for Antipsychotic Drugs is moderately competitive and consists of the global players as well as the local players. Since most of the drugs for the treatment of the disease are approved bu the FDA, global players are currently holding a major share of the market. Due to the rising focus of the small players for market penetration, it is believed that these players will hold a substantial share of the market in the coming future.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Mental Disorders
4.2.2 Increasing Focus of Governments and Health Care Organizations on Mental Health
4.2.3 Constant Investment in Research and Development
4.3 Market Restraints
4.3.1 Addiction Caused Due to the Antipsychotic Drugs
4.3.2 Patent Expiry of Major Drugs
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.2 Bipolar Disorder
5.1.3 Unipolar Disorder
5.2 By Drug Classification
5.2.1 First Generation
5.2.2 Second Generation
5.2.3 Third Generation
5.3.1 North America
5.3.3 Asia Pacific
5.3.4 Middle East and Africa
5.3.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Eli Lily and Company
6.1.4 Johnson & Johnson
6.1.5 Bristol-Myers Squibb Company
6.1.6 Pfizer Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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