The Global Antipsychotic Drugs Market is touted to touch USD 18.5 billion at a staggering 4.3% CAGR over the predicted years (2016-2022). Psychosis is a disorder where the person may face serious distortion of behavior, thought, perception and recognition of reality. The patients may experience hallucinations and delusions along with having wrong evaluation and misperception of other people, facts or situations. Psychosis is not a condition but rather gets triggered due to other conditions such as stress, traumatic experiences or physical conditions namely brain tumor, Parkinson’s disease or due to alcohol or drug misuse.
Due of lack of insight, the person is unaware that he/she is acting and thinking strangely. Antipsychotic drugs also known as neuroleptics or major tranquilizers are used primarily for treating psychosis. Such drugs help in blocking the dopamine receptors in the brain’s dopaminergic pathways, thus repressing the dopamine’s effect that is linked directly to psychotic experiences. These drugs are used to treat common psychotic disorders including bipolar disorder, delusions, hallucinations, schizophrenia and others.
There are many factors that is driving the growth of the antipsychotic drugs market. Some of these factors as per the Market Research Future (MRFR) report include increasing number of people suffering from schizophrenia, increasing prevalence of psychotic disorders, over prescription of antipsychotic drugs, increased drug abuse, antipsychotic drug addiction, and huge funds being invested on R&D activities, and introduction of novel antipsychotic compounds.
On the contrary, factors such as poor efficacy and efficiency of anti-psychotic drugs, various side effects associated to taking the drugs such as high addiction rate, vomiting, drowsiness and insomnia, social stigma, poor drug development pipeline and stringent regulatory framework are likely to act as deterrents in the growth of antipsychotic drugs market over the predicted years.
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Global Antipsychotic Drugs Market – Key Players
Leading players profiled in the antipsychotic drugs market include Johnson & Johnson, GlaxoSmithKline plc, AstraZeneca, Pfizer Inc., Bristol-Myers Squibb, Eli Lilly & Co. and others.
March 2019 – Dementia Training Australia of late has come up with a new tool that will assist all residential aged care providers in monitoring and reducing the utilization of antipsychotic medicines in facilities. The main objective of launching this tool is for improving practices on the use of medication particularly in aged care. All aged care health experts having experience in the antipsychotic medicines can have access to this tool that will enable providers in monitoring changes in their utilization of antipsychotic medicines for residents. The providers can assess the latest Aged Care Quality Standards soon, from 1st July, 2019.
Global Antipsychotic Drugs Market – Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the antipsychotic drugs market on the basis of application and generation.
Based on therapeutic application, it is segmented into dementia, depression, bipolar disorder, schizophrenia and others. Of these, psychotic depression and schizophrenia will have the largest share in the antipsychotic drugs market over the predicted years.
Based on generation, the antipsychotic drugs market is segmented into first, second, third. The first generation is also called neuroleptics or typical antipsychotics and the second generation is also called atypical antipsychotics.
Global Antipsychotic Drugs Market – Regional Analysis
Based on region, the antipsychotic drugs market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific and Middle East and Africa. Of these, the American region will have precedence in the market over the predicted years owing to excellent support from the government, better regulatory framework, well-established healthcare infrastructure, good reimbursement scenario especially in the US and rapid uptake of novel drug molecules. Europe will grab the second largest share in the antipsychotic drugs market owing to increasing healthcare expenditure made by the government coupled with increasing disposable income. The antipsychotic drugs market in the Asia Pacific region will grow at the fastest rate and at a healthy CAGR owing to increasing social awareness concerning psychotic disorders and also other associated disorders namely depression, anxiety and mania. Moreover, the accessibility of medicines to treat mental illness will boost the growth of the antipsychotic drugs market in this region over the predicted years.
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