The antipsychotic drugs market size was valued at USD 16 billion in 2023 and is projected to grow from USD 17.49 Billion in 2024 to USD 33.92 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.64% during the forecast period (2024 - 2032).The growing prevalence of psychosis and related disorders drives the demand for antipsychotic drugs. Major factors contributing to the increased incidence of these disorders include genetic mutations, substance-induced psychosis, and physical illnesses that lead to depression.These are just a few of the market drivers that are driving the market.
Drugs called antipsychotics are used to treat psychosis, including schizophrenia and bipolar disorder. A serious sign of mental disease, psychosis includes a loss of reality and affects how one absorbs information. Community-based projects that brought people together frequently before the epidemic have been significantly disrupted, with many nations reporting that organizations, clubs, and community-based initiatives have been unable to meet for months. The category of psychiatric diseases is one of the illness groups in the modern healthcare environment that is anticipated to see a significant increase in patients globally. This category of psychiatric disorders includes mental conditions like schizophrenia, bipolar disorder, and depression that mimic the symptoms of psychosis. One of the most important signs of mental illness is psychosis, which includes the patient's loss of reality.
Fear of infection, particularly among elderly individuals, has reportedly reduced demand for in-person mental health services. Additionally, many services have been forced to transition to remote healthcare, offering consultations over the phone or internet platforms with different degrees of effectiveness. Doctors can recommend helpful over-the-counter medications and give directions on how to take prescription and non-prescription drugs all through telemedicine. Many patients have also been anxious about visiting the drugstore to pick up prescriptions. In the future, it is projected that this will accelerate market expansion. The rising incidence of bipolar illness and schizophrenia is to blame for the rising demand for these drugs. The industry's abundance of FDA-approved medications, including chlorpromazine, olanzapine, aripiprazole, and other medications approved yearly, is anticipated to support market growth during the projection period. These medicines are frequently overprescribed, leading to addiction and serious consequences. People in wealthy nations like North America experience this. As a result, these pharmaceuticals are now subject to strict government control, which has stunted commercial expansion. Additionally, introducing medications in more modern forms, such as long-acting injectables, will favor the market's expansion during the projection period.
In January 2023, The FDA authorized the extended-release injectable suspension formulation of Rykindo® (risperidone). As a biweekly treatment for schizophrenia and monotherapy or adjunctive therapy to lithium or valproate, it is prescribed to patients with bipolar I disorder. Luye Pharmaceutical is the developer of Rykindo®, an atypical antipsychotic. The active ingredient of the medication, risperidone, is administered intramuscularly via long-acting and extended-release microsphere technology. The approval of the biweekly extended-release injectable has consequently provided a promising therapeutic option for this population.
Mitsubishi Tanabe Pharma Corporation (MTPC), a Japanese company, introduced REMLEAS (valbenazine, a vesicular monoamine transporter type 2 inhibitor, generic name) in August 2023 for the treatment of tardive dyskinesia in Thailand. The REMLEAS examination was introduced in Indonesia in May 2023 and Singapore in January 2023. REMLEAS, being the initial pharmaceutical intervention to be approved in Thailand, Singapore, and Indonesia for the management of tardive dyskinesia, would offer patients afflicted with this condition a fresh avenue for treatment. Tardive dyskinesia is a neurologic disorder distinguished by repetitive, abnormal, and uncontrollable involuntary movements of the torso, tongue, lips, mandible, face, and extremities. It can lead to challenges in performing routine activities and, in more serious instances, respiratory distress or dysphagia. Tardive dyskinesia can develop as a result of ongoing treatment with antipsychotic medications or other substances. Dopamine receptor sensitivity elevation is considered a causal factor.
Brexpiprazole, an antipsychotic medication, received expedited FDA approval to treat restlessness in senior dementia patients. In clinical trials, the drug demonstrated negligible therapeutic gains while quadrupling the chance of death over placebo.
Schizophrenia is a serious mental illness in which people experience abnormalities in thinking, behavior, emotion, and self-awareness. This condition increases the chance of death if not treated properly. Therefore, many companies are working on developing new drugs to treat this disease. The presence of numerous FDA-approved drugs in the market, such as chlorpromazine, olanzapine, aripiprazole, and other drugs approved annually, is expected to facilitate market expansion throughout the forecast period.
Overprescription of these drugs often has serious consequences and addiction. This situation is seen in people in developed countries such as North America. This has led to stringent government regulation of these drugs, restraining market growth.
Mental illness is becoming more common, putting pressure on the healthcare system. Therefore, the government is focusing on increasing public awareness of these diseases and the effectiveness of the treatments used to cure them. As a result, the demand for highly effective and safe drugs for treating psychiatric patients has increased significantly. Additionally, these companies are focusing on the development of innovative injectable antipsychotic drugs that will help eliminate the requirement to monitor patient consumption of medication. These factors are expected to provide good opportunities for the growth of the antipsychotic drugs market. Thus, this factor is driving the market CAGR.
Figure 1: Number of Active Schizophrenia Clinical Trials, in Numbers, By Phase
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Additionally, telemedicine for psychiatric care has undergone a considerable shift during the COVID-19 pandemic. Due to lockdowns and stay-at-home restrictions around the world, the mental health of many has been affected. As a result, the use of antipsychotic drugs to treat these symptoms has increased. In addition, the market of antipsychotic drugs has seen strong sales during the pandemic. It was also attributed to the pandemic's increased use of long-acting injectables. Thus, it is anticipated that this aspect will accelerate the antipsychotic drugs market revenue globally.
The market segmentation of antipsychotic drugs, based on Generation, includes first and Second Generations. Classic or standard antipsychotics were the first Generation of antipsychotics developed in the 1950s. However, such drugs carry risks such as blurred vision and drowsiness, and some can have fatal effects. Therefore, these products are expected to witness negative growth over the forecast period due to the availability of relatively more effective drugs with fewer side effects.
The second Generation occupies the largest market share. Such named atypical antipsychotics include clozapine, risperidone, sertindole, asenapine, olanzapine, paliperidone, and quetiapine. These drugs are used to treat schizophrenia and have rapidly begun to replace older, first-generation antipsychotics.
The Antipsychotic Drugs market segmentation, based on type, includes atypical antipsychotics and miscellaneous antipsychotic agents. The atypical antipsychotics segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2032. Long-acting injectable antipsychotics provide the same efficacy as a daily pill and do not require patients to monitor their drug consumption. Due to the numerous benefits associated with this antipsychotic, the intake of the product has increased.
Figure 2: Antipsychotic Drug Market by Type, 2022 & 2030 (USD Billion) 
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Antipsychotic Drug market data, based on Application, include schizophrenia, anxiety, and bipolar disorder. The schizophrenia segment dominated the market revenue of antipsychotic drugs in 2022 and is projected to be the faster-growing segment during the forecast period 2024-2032. Schizophrenia is a serious mental disorder that affects many people around the world. The main hallmarks of the disorder are distortions in thinking, emotions, self-awareness, and behavior. The increasing prevalence of schizophrenia and related disorders and the rising geriatric population, who are more prone to developing late-onset schizophrenia, are the key factors driving the market growth over the forecast period.
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Although many patients find it challenging to follow their treatment plan, failing to take prescribed medication is linked to a higher risk of negative health consequences. The drug's substantial side effects are a direct result of its potency. Blood tests frequently modify dosages and ensure patients take their medications as directed. However, many people find blood testing to be invasive and painful. Antipsychotic drug levels can now be determined using a novel technique developed by researchers using the patient's finger perspiration. Supplying a more practical and cozy method of blood pressure monitoring for patients. The scientists already knew that some medicines may be detected through fingertip perspiration. Hiring specialized employees and providing a more straightforward storage option will make it unnecessary.
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America Antipsychotic Drugs market accounted for USD 9.84 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. The market is anticipated to be driven by its well-established healthcare infrastructure, better regulatory framework, rising prevalence of mental disorders, and support from government countries in the region. The rising burden of mental illness and schizophrenia among the population is a key factor driving the market growth in this region.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: ANTIPSYCHOTIC DRUG MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Antipsychotic Drugs market accounts for the second-largest market share. Regarding the antipsychotics market share, Europe is expected to be the second largest region. This is attributed to the growing awareness of the mental illness and its high prevalence in the region. Moreover, the U.K. market of antipsychotic drugs held the largest market share, and the Germany market of antipsychotic drugs was the fastest-growing in the region.
Asia Pacific Antipsychotic Drugs Market is expected to grow at the fastest CAGR from 2024 to 2032 as much of the population suffers from chronic and mental illnesses, which drives the market demand. The region is expected to witness a high CAGR owing to rising social awareness about mental illness and other related disorders. Another aspect driving the demand in the market is rising awareness regarding mental health. Further, the China market of antipsychotic drugs held the largest market share, and the India market of antipsychotic drugs was the fastest-growing market in the region.
Antipsychotic Drug Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market of antipsychotic drugs grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the Antipsychotic Drug industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Antipsychotic Drug industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, the Antipsychotic Drug industry has provided medicine with some of the most significant benefits. The Antipsychotic Drug markets major players such as Nestle, JM Smucker Company, The Kraft Heinz Company and Starbucks Antipsychotic Drug Company.
Alkermes Plc (Alkermes) is a biopharmaceutical company focused on researching, developing, and commercializing medicines for treating cancer, neurodegenerative and central nervous system (CNS) diseases. In February 2022, Alkermes plc announced positive results from ENLIGHTEN-early, a Phase 3b study evaluating LYBALVI in schizophrenia.
Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company based in Hyderabad. The company was founded by Kallam Anji Reddy, who worked as a mentor at Indian Drugs and Pharmaceuticals Limited. Dr. Reddy manufactures and distributes a wide range of pharmaceuticals in India and overseas. The company has more than 190 drugs, and 60 active pharmaceutical ingredients (APIs), used in pharmaceuticals, diagnostic kits, critical care and biotechnology. In February 2021, Dr. Reddy’s Laboratories Ltd. launched fluphenazine hydrochloride tablets. This medication is used to treat the symptoms of a mental disorder.
Key Companies in the Antipsychotic Drug market include
Antipsychotic Drug Industry Developments
January 2022:Otsuka Pharmaceutical and its subsidiaries Otsuka American Pharmaceutical Co., Ltd. and Lundbeck Corporation, announced that the U.S. Food and Drug Administration had approved a supplemental New Drug Application for REXULTI for schizophrenia in 13 to 17-year-old patients.
First Generation
Second Generation
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 16 billion |
| Market Size 2024 | USD 17.49 billion |
| Market Size 2032 | USD 33.92 billion |
| Compound Annual Growth Rate (CAGR) | 7.64% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 - 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Generation, Type, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Johnson and Johnson (U.S.), GlaxoSmithKline Plc. (U.K.), Pfizer Inc. (U.S.), AstraZeneca (U.K.), Bristol-Myers Squibb (U.S.), Eli Lily & Co. (U.S.) |
| Key Market Opportunities | Increased patient population and clinical trials |
| Key Market Dynamics | Increase in bipolar disorders Rising demand for oral drugs |
Frequently Asked Questions (FAQ) :
The global antipsychotic drug market size was valued at USD 16 Billion in 2023.
The global market is projected to grow at a CAGR of 7.64% from 2024-2032.
North America had the largest share of the global market
The key players in the market are Johnson and Johnson (U.S.) and GlaxoSmithKline Plc. (U.K.), Pfizer Inc. (U.S.), AstraZeneca (U.K.), Bristol-Myers Squibb (U.S.), and Eli Lily & Co. (U.S.).
The second Generation dominated the market in 2023.
Schizophrenia had the largest share in the global market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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