The global antipsychotic drugs market size was projected at more than $12,416.60 million in 2020. The market is forecasted to grow at a CAGR of 7.9% during the forecast period from 2021 to 2027.

Antipsychotic drugs are a group of psychotropic medications used for the treatment of schizophrenia, bipolar disorder, and other psychosis. Psychosis occurs due to mental illness that results in the loss of reality.

COVID-19 Impact

Neurological activities like Community-based mental health support systems faced a severe impact after the advent of COVID-19. Group meetings, organizations, and community-based initiatives for mental health were all halted due to the pandemic.

A neurological institute in Buenos Aires, Argentina, recorded a 99% decline in appointments after the COVID-19 pandemic.

The maximum decline was seen in the demand for face-to-face mental health services. The terror of infection, especially among the elders, abruptly declined the market growth. Many organizations had to choose a remote method to provide consultations to the patients.

Furthermore, COVID-19 developed a rapid disruption in the antipsychotic drugs market. Mental health provision had to switch their treatments to the COVID-19 patients. General hospitals had to transform their Psychiatric wards to treat COVID-19 patients.

Factors Affecting

The global antipsychotic drugs market is growing, owing to the pervasiveness of mental disorders, the rise in the geriatric population, and the increasing number of awareness programs for mental health. Moreover, education regarding mental disorders and prohibition of stigma for mentally ill people lead the growth of the global antipsychotic drugs market. However, the expensive treatment cost is expected to decelerate the market growth.

Advancement in products is likely to enhance the growth of the market. Several pharmaceutical companies are engaged in the R&D of antipsychotic medications, owing to the steep increase in bipolar cases. Hence, it would heighten the growth of the global antipsychotic drugs market.

Moreover, hesitation in patients regarding mental health clinics declines the overall market growth. Patients hesitate by the thought about visiting clinics for prescriptions. Meanwhile, only doctors can recommend helpful drugs and the method of using a prescription. However, the advent of telemedicine is likely to boost the global antipsychotic drugs market growth in the future.

Regional Analysis

North America held dominance by becoming the leading shareholder in the global antipsychotic drugs market. The prevalent infrastructure, increase in the adoption of mental healthcare services, growing geriatric population, and increase in the pervasiveness of mental diseases are likely to accelerate the market growth.

Apart from that, Asia-Pacific is expected to grow at the highest CAGR during the analysis period. The region has recorded a steep improvement in mental health awareness, healthcare infrastructure, and growth in hospitals and advanced medical facilities.

Key Market Segments

By Therapeutic Class

First-generation
Second-generation
By Application

Schizophrenia
Dementia
Bipolar Disorder
Depression
Others
By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key Market Players

Eli Lily and Company
AstraZeneca plc
GlaxoSmithKline plc
Johnson & Johnson
Otsuka Pharmaceutical Co, Ltd.
Pfizer Inc.
AbbVie Inc.
Bristol-Myers Squibb
Teva Pharmaceuticals
Dr. Reddy's Laboratories
Other Prominent Players
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