ANTIPSYCHOTIC DRUGS MARKET ANALYSIS

Market Challenges And Opportunities

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.

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.