Antipsychotic Drugs Market: Development of new-generation drugs driving the market growth

Posted On Feb, 23, 2017

Antipsychotic drugs are widely used for treatment of psychotic disorders and other mental illnesses. Psychotic disorders involve conditions such as schizophrenia; different types of bipolar disorders, such as anxiety or mania; major unipolar disorder; dementia; and other mental diseases. The introduction of first-generation antipsychotics took place in 1950, but the drugs belonging to this generation had many adverse effects, such as insomnia, dry mouth, drowsiness, blurred vision, which restricted the acceptance level of these drugs.

As technology developed, second generation of antipsychotics was introduced in the market. These products have very low to negligible adverse effects. Hence, they have better adoption rate and hold the largest share. The third generation of antipsychotics has only one commercially approved product—“Abilify.” This product has no reported adverse effects and, hence, has high acceptance levels amongst patients.

Global antipsychotic drugs market, 2015(USD Million)

Antipsychotic Drugs Market

According to the Anxiety and Depression Association of America, 40 million adults (18 years and older) in the U.S. were suffering from mental disorders in 2016. Hence, development of the antipsychotics to treat these disorders is of prime importance.

Initially, first-line drugs used in treatment of psychosis and mental illnesses were standard antipsychotics, also called as typical antipsychotics. However, these products pose risk of adverse effects and some had fatal effects. The second generation or atypical antipsychotics, which include clozapine, risperidone, sertindole, asenapne, olanzapine, paliperidone, and quetiapine held the largest market share. These products are used for the treatment of schizophrenia. The second generation slowly replaced the first generation. The only approved third-generation antipsychotic is aripiprazole (Abilify); it is indicated for treatment and maintenance therapy of schizophrenia. The clinical advantages of safety and tolerability of aripiprazole (Abilify) are anticipated to overcome all the challenges encountered by existing products.

The prime driver of antipsychotics market is constant introduction of better products that overcome the adverse effects and unwanted reactions of the prior. In addition, efforts taken by the market players to widen therapeutic applications of these medicines are creating opportunities for expansion of their portfolio.

Adverse effects of antipsychotics are projected to slow down the market growth. Brands such as Zyprexa, Seroquel, and Risperdal have lost patent protection, which is hampering growth the market of these drugs. Also, the entry of generic versions of these products is slowing down the growth of the established brands.

Some of the dominant market players are Johnson & Johnson; Pfizer, Inc.; Eli Lilly & Co.; Bristol-Myers Squibb; AstraZeneca; Glaxo SmithKline, Plc; and Allergan, Inc. These players account for a large share of the antipsychotic market. 

  In-depth report on global antipsychotic drugs market by Grand View Research:

http://www.grandviewresearch.com/industry-analysis/antipsychotic-drugs-market

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