Psychosis are a group of disorders with serious distortion of thought, behavior, recognition of reality and perception. The patient may have delusions and hallucinations and may have misperception and wrong evaluation of situation, facts or other people.
The most critical market driving factor for anti-psychotic drugs is the rising cases of psychosis and mental disorders. Following are some estimates about psychosis according to the World Health Organization (WHO):
Depression affects an estimated 300 million people in the world.
Bipolar affective disorder takes a toll on about 60 million people worldwide.
Schizophrenia, a severe mental disorder, affects about 21 million people worldwide.
Dementia has a prevalence in about 47.5 million people worldwide
One fourth of people are affected by mental or neurological disorders at some point in their lives.
The current number of untapped patients are of an order of around 450 million currently suffering from such conditions.
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The treatment scenario is no different and the least it is said the better. According to WHO, the gap between the unmet needs in low- and middle-income countries is between 76% and 85% of people with mental disorders. Even in high-income countries the unmet medical needs gap is of an order of 35% and 50% of people with mental disorders. Thus there exists a huge market with unmet medical needs which needs to be tapped. Other very important market driving factor is increasing focus of governments and health care organizations on mental health. For example, WHO’s initiated its Mental Health Gap Action Programme in 2008, to expand the coverage of mental health treatment and service across the world.
However there are huge formidable barriers which remain a challenge to expand the market and the anti-psychotic drugs market has shown growth par below their potential market due to a host of factors. The critical market restraint is the poor efficiency and efficacy of anti-psychotic drugs. The side effects of these drugs is another depressing story to tell, which ranges from insomnia, drowsiness, vomiting to the high addiction rate. Social stigma also constraints the market with an estimated two-thirds of patients never seeking help. The poor drug development pipeline is a future market threat. The drug pipeline for anti-psychotics is devoid of any novel acting drug candidate. Strict regulatory framework is another deterrent for companies developing anti-psychotics.
The global market for antipsychotic drugs is expected to reach around USD 18.5 billion by the end of the forecast period and is expected to grow at a CAGR of ~4.3%.
Key Players for Global Antipsychotic Drugs Market:
Some of the key players in this market are: Eli Lilly & Co., Bristol-Myers Squibb, AstraZeneca, Pfizer inc., GlaxoSmithKline plc., Johnson & Johnson and others.
Global antipsychotic drugs market has been segmented on the basis of therapeutic applications, which comprises schizophrenia, bipolar disorder, depression, dementia and others. On the basis of generations; market is segmented into first, second and third.
Regional Analysis of Global Antipsychotic Drugs Market:
Globally America is the largest market for antipsychotic Drugs. The American market for antipsychotic drugs represents about 47 % of world market in 2016. Rapid uptake of new drug molecules and excellent reimbursements scenario in the U.S. are the two most important factors for the dominance of America. Europe is the second-largest market for antipsychotic drugs. Asia pacific region is expected to be fastest growing region in antipsychotic drugs market.
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Detailed Table of Contents:
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
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