Anti-psychotic drugs, also called tranquilizers or neuroleptics, are a specific type of medication that are majorly used for the treatment of schizophrenia or bipolar disorder. They are used to manage psychosis, including hallucinations, delusions, and disordered thought of paranoia, among others. Anti-psychotic drugs are effective for the treatment of psychosis in a short duration. These drugs block the dopamine receptors in the dopaminergic pathways of the brain, thereby repressing the effect of dopamine, which is directly linked to the psychotic experiences. Increasing prevalence of mental illness in turn has led to high consumption of antipsychotics. According to National Alliance of Mental Illness 2015, 1 in 5 adults suffer from mental illness, which accounts for 18.5% of the total population suffering from the mental issues. However, long-term use of these drugs may result in side effects such as metabolic syndrome and involuntary movement disorder, ultimately leading to increased mortality in geriatric population with dementia.
Increase in prevalence of mental disorders to fuel the growth of anti-psychotic drugs market
Schizophrenia is the prime cause of psychosis across the globe and patients suffering with the disorder are more likely to succumb to physical and mental illness. According to the World Health Organization (WHO), over 21 million people worldwide were affected with schizophrenia in 2016. The WHO also states that one in two people suffering from schizophrenia do not receive appropriate care for the condition. This creates an opportunity for the market players in the global anti-psychotic drugs market to develop cost-effective medications for the treatment of this disease. Furthermore, according to the National Alliance of Medical Illness in 2017, around 1.1% adults in the U.S. live with schizophrenia, while 2.6% of the population in the country suffer from bipolar disorder. On an average, 1 in 5 adults, which adds to around 43.8 million people or 18.5% of the total population in the U.S., experience some or the other kind of mental illness in a particular year. High prevalence and increasing incidence of neurological of disorders is supporting growth of the anti-psychotic drugs market.
Anti-Psychotic Drug Market Taxonomy:
On the basis of drug type, the global anti-psychotic drugs market is segmented into:
On the basis of application, the global anti-psychotic drugs market is segmented into:
On the basis of distribution channel, the global anti-psychotic drugs market is segmented into:
North America to dominate the global anti-psychotic drugs market, owing to increasing number of patients suffering from mental disorders
On the basis of geography, the global anti-psychotic drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the largest market share in the global anti-psychotic drugs market, attributable to rising prevalence of psychosis among the youth as well increase in the prevalence of schizophrenia among the geriatric population. According to the social stats of National Academy of Mental Illness in 2017, around 70% of youth in the juvenile justice systems in the U.S suffered from at least from one mental health condition, while 20% live with a serious mental illness. Asia Pacific is expected to exhibit a significant growth in the global anti-psychotic drugs market, owing to government initiatives to improve treatment offered to increasing number of people suffering from mental illness. The World Health Organization (WHO), 2016, Pilot Programs in India, Iran, and Pakistan have exhibited a feasibility in providing care to people suffering from mental disorders such as provision of essential medicines and public education to decrease the stigma and discrimination about mental illness.
Increase in drug abuse and increasing incidence of drug addiction inadvertently fueling growth of global anti-psychotic drugs market
The major driver of the global anti-psychotic drugs market is the increase in prevalence of Schizophrenia and psychotic disorders. Several other factors such as increasing incidence of drug abuse, over prescription of psychotic drugs as well as addiction to the antipsychotic drugs further augment market growth. According to the National Survey on Drug Use and Health (NSDUH), around 13.2% of the population in the U.S. (accounting for nearly 4 million people) used an illicit drug or abused a psychotherapeutic medication in 2012. However, patent expiry of major brands over the last few years has a negative effect on market growth. Moreover, the side effects of anti-psychotics leading to tardive dyskinesia, insomnia, and several other disorders are restraining growth of the global anti-psychotic drugs market.
Key players focusing on development of novel and innovative therapeutic medication to strengthen their presence in the global anti-psychotic drugs market
The key players dominating the global anti- psychotic drugs market are AstraZeneca, Pfizer, Inc., Eli Lily and Co., Bristol- Myers Squibb, Johnson & Johnson, GlaxoSmithKline, and Allergen. These players are involved in developing innovative drugs for treatment of psychotic diseases with reduced side effects of the drugs to increase the consumption of the product in market. Otsuka Pharmaceuticals in November 2017 received an FDA approval for the first ever antipsychotic drug treatment Abilify MyCite, which is imbued with a digital ingestion tracking system that intends to treat Schizophrenia and acute attacks of bipolar disorder.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.