Data Bridge Market research has a newly released expansive study titled “Antipsychotic Drugs Market” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases surviving and success in the market.
The antipsychotic drugs market is expected to witness significant growth during the forecast period. The growth of antipsychotic drugs market enhanced by the growing cases of mental illness such as dementia and schizophrenia and the rise in research and development activities conducted by many pharmaceutical companies. Growing cases of severe pain associated with cancer and arthritis drive the narcotic drug market. COVID-19 also had a major impact on the market growth.
Data Bridge Market Research analyses a growth rate in the antipsychotic drugs market in the forecast period 2022-2029. The expected CAGR of antipsychotic drugs market is tend to be around 8.5% in the mentioned forecast period. The market was valued at USD 13,473.10 million in 2021, and it would grow upto USD 25805.39 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Antipsychotic drugs, also termed as neuroleptics or major tranquilizers, are the class of CNS therapeutics widely used to concomitant relief from psychosis and other mental illness symptoms by interrupting the activity of dopaminergic pathways of the brain. It is of great importance to the healthcare sector and it is expected to grow in the forecast period.
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Key players operating in the antipsychotic drugs market include:
- Johnsons Johnsons Services Inc (U.S.)
- Boehringer Ingelheim International GmbH (Germany)
- Sun Pharmaceutical Industries Ltd. (India)
- Sanofi (France)
- AstraZeneca (U.K.)
- GlaxoSmithKline Plc. (U.K.)
- Novartis AG (Switzerland)
- Pfizer Inc. (U.S.)
- Amneal Pharmaceuticals LLC. (U.S.)
- Alvogen (U.S)
- Hikma Pharmaceuticals PLC (U.K.)
- Mylan N.V. (U.S.)
- Janssen Global Services, LLC (Belgium)
- Bristol Myers Squibb Company (U.S.)
- Bayer AG (Germany)
Drivers
- Increase in Bipolar Disorders
According to the reports of Medscape in 2019, the incidence rate of bipolar disorder was predicted to be around 0.3–1.5%. However, in recent years, the prevalence of the bipolar disorder has increased substantially. This boost the market growth.
- Rising Demand for Oral Drugs
Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global market as most products are available in capsule and tablet form and it is a very feasible route of administration.
Opportunities
- Increased Patient Population and Clinical Trials
The increasing patient pool contributed to an increase in RD initiatives of novel antipsychotic drugs. More and more clinical trials of these drugs support drug development, which is likely to boost the market growth. Additionally, the rising adoption of Long-Acting Injectables to cope with these illnesses is estimated to flourish in growth for the market.
- Increasing Demand for Retail Pharmacies
The rise in the number of antipsychotic drugs delivered through retail pharmacies and the surge in the number of retail pharmacies in developed countries create opportunities for the market growth. In addition to this, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.
To achieve noteworthy business growth and maximum return on investment (ROI), adopting supreme this market research report is truly beneficial. The report comprises of most-detailed market segmentation, systematic analysis of major market players, trends in consumer and supply chain dynamics, and insights about new geographical markets. This market report has been framed by taking into account several factors of the present and upcoming market scenario. Statistical and numerical data covered in the report is represented using graphs and tables which simplify the understanding of facts and figures.
The analysis and estimations carried out via this market analysis report helps to get the details about the product launches, future products, joint ventures, marketing strategy, developments, mergers and acquisitions and effect of the same on sales, marketing, promotions, revenue, import, export, and CAGR values. The report assists in determining and optimizing each stage in the lifecycle of industrial process that includes engagement, acquisition, retention, and monetization. An international this market report contains most recent and efficient market insights with which businesses can ponder to augment their marketing, advertising, promotional and sales strategies.
Core Objective of the This Market:
- This Market Size and growth rate factors.
- Important changes in the future this Market.
- Top worldwide competitors of the Market.
- Scope and product outlook of This Market.
- Developing regions with potential growth in the future.
- Tough Challenges and risk faced in Market.
- Global top manufacturers profile and sales statistics.
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