The global antipsychotic drugs market size was estimated to be USD 16.60 billion in 2023 and is expected to reach at USD 35.95 billion by 2034 with a CAGR of 7.28% during the forecast period 2024-2034. Rising prevalence of psychotic disorders, growing geriatric population, increasing awareness program regarding mental health & disorders, surge in number of patient pools suffering from mental disorder such as schizophrenia & bipolar disorder, rising focus on development of antipsychotic medications by pharmaceutical companies, growing new product launches, increasing research & development activities, and surge in approval of antipsychotic drugs by U.S. Food and Drug Administration (FDA) are several crucial elements boosting the market growth.
Surge in approval of antipsychotic drugs by U.S. Food and Drug Administration (FDA) is predicted to propel the market growth during the forecast period. More people are calling for more effective psychiatric disease treatment as a result of the increased frequency of psychotic illnesses. Therefore, numerous biopharmaceutical firms have engaged in research and development efforts and introduced long-acting injectable antipsychotic medications. For instance, in April 2023, Teva Pharmaceuticals, the U.S. branch of Teva Pharmaceutical Industries Ltd. and MedinCell, have jointly revealed that the U.S. Food and Drug Administration (FDA) has granted approval for UZEDY (risperidone) extended-release injectable suspension to be used in treating schizophrenia among adults.
By drug, aripiprazole was the highest revenue-grossing segment in the global antipsychotic drugs market in 2023 owing to the growing adoption of third-generation products, rising product approvals by regulatory bodies. For instance, in September 2022, Otsuka America Pharmaceutical, Inc., and H. Lundbeck A/S have reported that the U.S. Food and Drug Administration (FDA) has acknowledged the submission of their New Drug Application (NDA) for aripiprazole 2-month, a long-acting injectable medication designed for managing schizophrenia in adults and for serving as maintenance monotherapy for adults with bipolar I disorder. Additionally, paliperidone palmitate is predicted to grow at fastest CAGR during the forecast period owing to the increasing research & development activities, and surge in regulatory approvals.
By therapeutic class, second-generation was the highest revenue-grossing segment in the global antipsychotic drugs market in 2023 owing to the rising development of larger number of second-generation drugs due to effectiveness & safety offered by these generations of medications, and increasing research & development activities. For instance, in March 2023, Karuna Therapeutics, Inc. has reported encouraging top-line findings from the Phase 3 EMERGENT-3 study, which assessed the effectiveness, safety, and tolerance of their primary investigative treatment, KarXT (xanomeline-trospium), in adults who have been diagnosed with schizophrenia. Additionally, third-generation is predicted to grow at fastest CAGR during the forecast period owing to a larger level of technological excellence compared to other medication classes and increase in number of new product releases.
By application, schizophrenia was the highest revenue-grossing segment in the global antipsychotic drugs market in 2023 owing to increasing prevalence of schizophrenic disorders, rising adoption of sedentary lifestyle, surge in geriatric population who is more susceptible to neurological & physiological disorders, and growing focus on development of novel drugs for the treatment of this disease. For instance, in February 2022, Alkermes plc has disclosed encouraging findings from the ENLIGHTEN-early trial, a phase 3b study focused on investigating the effects of LYBALVI in the treatment of schizophrenia. Additionally, dementia is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of Alzheimer’s disease, rising geriatric population, and increasing advancement in R&D activities for drug development.
By distribution channel, online pharmacies was the highest revenue-grossing segment in the global antipsychotic drugs market in 2023 owing to increased patient convenience and ease in terms of medication procurement and rising launch of new medications. For instance, in February 2023, Lupin has introduced a generic version of an antipsychotic medication with varying strengths (20, 40, 60, 80, and 120 mg) in the United States. This generic alternative is a match for Sunovion Pharmaceuticals Inc.'s Latuda tablets. Additionally, hospital pharmacies is predicted to grow at fastest CAGR during the forecast period owing to the majority of therapeutic drugs may only be provided following thorough evaluations by qualified medical staff at these institutes.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing well-established healthcare infrastructure, increasing adoption of mental healthcare services, rising geriatric population, surge in prevalence of mental diseases, increasing introduction of new products, and growing collaborations within market players. For instance, in March 2022, AbbVie has formed a collaborative partnership and licensing agreement with Gedeon Richter Plc. This partnership focuses on the research, development, and commercialization of dopamine receptor modulators, with the goal of potentially addressing neuropsychiatric disorders. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising health awareness, surge in number of hospitals equipped with advanced medical facilities, growing prevalence of mental disorders, increasing launch of new products, and rising product approvals by regulatory bodies. For instance, in May 2023, Brexpiprazole's supplementary New Drug Application (sNDA), which was submitted by Otsuka Pharmaceutical Co. Ltd. and Lundbeck LLC, has been approved by the U.S. Food and Drug Administration (FDA) for use in treating agitation linked to dementia brought on by Alzheimer's disease.
Surge in approval of antipsychotic drugs by U.S. Food and Drug Administration (FDA) is predicted to propel the market growth during the forecast period. More people are calling for more effective psychiatric disease treatment as a result of the increased frequency of psychotic illnesses. Therefore, numerous biopharmaceutical firms have engaged in research and development efforts and introduced long-acting injectable antipsychotic medications. For instance, in April 2023, Teva Pharmaceuticals, the U.S. branch of Teva Pharmaceutical Industries Ltd. and MedinCell, have jointly revealed that the U.S. Food and Drug Administration (FDA) has granted approval for UZEDY (risperidone) extended-release injectable suspension to be used in treating schizophrenia among adults.
By drug, aripiprazole was the highest revenue-grossing segment in the global antipsychotic drugs market in 2023 owing to the growing adoption of third-generation products, rising product approvals by regulatory bodies. For instance, in September 2022, Otsuka America Pharmaceutical, Inc., and H. Lundbeck A/S have reported that the U.S. Food and Drug Administration (FDA) has acknowledged the submission of their New Drug Application (NDA) for aripiprazole 2-month, a long-acting injectable medication designed for managing schizophrenia in adults and for serving as maintenance monotherapy for adults with bipolar I disorder. Additionally, paliperidone palmitate is predicted to grow at fastest CAGR during the forecast period owing to the increasing research & development activities, and surge in regulatory approvals.
By therapeutic class, second-generation was the highest revenue-grossing segment in the global antipsychotic drugs market in 2023 owing to the rising development of larger number of second-generation drugs due to effectiveness & safety offered by these generations of medications, and increasing research & development activities. For instance, in March 2023, Karuna Therapeutics, Inc. has reported encouraging top-line findings from the Phase 3 EMERGENT-3 study, which assessed the effectiveness, safety, and tolerance of their primary investigative treatment, KarXT (xanomeline-trospium), in adults who have been diagnosed with schizophrenia. Additionally, third-generation is predicted to grow at fastest CAGR during the forecast period owing to a larger level of technological excellence compared to other medication classes and increase in number of new product releases.
By application, schizophrenia was the highest revenue-grossing segment in the global antipsychotic drugs market in 2023 owing to increasing prevalence of schizophrenic disorders, rising adoption of sedentary lifestyle, surge in geriatric population who is more susceptible to neurological & physiological disorders, and growing focus on development of novel drugs for the treatment of this disease. For instance, in February 2022, Alkermes plc has disclosed encouraging findings from the ENLIGHTEN-early trial, a phase 3b study focused on investigating the effects of LYBALVI in the treatment of schizophrenia. Additionally, dementia is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of Alzheimer’s disease, rising geriatric population, and increasing advancement in R&D activities for drug development.
By distribution channel, online pharmacies was the highest revenue-grossing segment in the global antipsychotic drugs market in 2023 owing to increased patient convenience and ease in terms of medication procurement and rising launch of new medications. For instance, in February 2023, Lupin has introduced a generic version of an antipsychotic medication with varying strengths (20, 40, 60, 80, and 120 mg) in the United States. This generic alternative is a match for Sunovion Pharmaceuticals Inc.'s Latuda tablets. Additionally, hospital pharmacies is predicted to grow at fastest CAGR during the forecast period owing to the majority of therapeutic drugs may only be provided following thorough evaluations by qualified medical staff at these institutes.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing well-established healthcare infrastructure, increasing adoption of mental healthcare services, rising geriatric population, surge in prevalence of mental diseases, increasing introduction of new products, and growing collaborations within market players. For instance, in March 2022, AbbVie has formed a collaborative partnership and licensing agreement with Gedeon Richter Plc. This partnership focuses on the research, development, and commercialization of dopamine receptor modulators, with the goal of potentially addressing neuropsychiatric disorders. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising health awareness, surge in number of hospitals equipped with advanced medical facilities, growing prevalence of mental disorders, increasing launch of new products, and rising product approvals by regulatory bodies. For instance, in May 2023, Brexpiprazole's supplementary New Drug Application (sNDA), which was submitted by Otsuka Pharmaceutical Co. Ltd. and Lundbeck LLC, has been approved by the U.S. Food and Drug Administration (FDA) for use in treating agitation linked to dementia brought on by Alzheimer's disease.
Segmentation: Antipsychotic Drugs Market Report 2022 - 2033
Antipsychotic Drugs Market Analysis & Forecast by Drug 2023 - 2034 (Revenue USD Bn)
- Olanzapine
- Risperidone
- Aripiprazole
- Brexpiprazole
- Quetiapine
- Paliperidone Palmitate
- Others
Antipsychotic Drugs Market Analysis & Forecast by Therapeutic Class 2023 - 2034 (Revenue USD Bn)
- Third-Generation
- Second-Generation
- First-Generation
Antipsychotic Drugs Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Unipolar Depression
- Bipolar Disorder
- Schizophrenia
- Dementia
- Others
Antipsychotic Drugs Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
Antipsychotic Drugs Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Antipsychotic Drugs Market: Drug Estimates & Trend Analysis
8. Antipsychotic Drugs Market: Therapeutic Class Estimates & Trend Analysis
9. Antipsychotic Drugs Market: Application Estimates & Trend Analysis
10. Antipsychotic Drugs Market: Distribution Channel Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Antipsychotic Drugs Market
13. Europe Global Antipsychotic Drugs Market
14. Asia Pacific Global Antipsychotic Drugs Market
15. Latin America Global Antipsychotic Drugs Market
16. MEA Global Antipsychotic Drugs Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Abbvie Inc. (Allergan Inc.)
- Johnson & Johnson (Janssen Pharmaceuticals)
- Otsuka Pharmaceutical Co. Ltd.
- Astrazeneca Plc.
- Teva Pharmaceutical Industries Ltd.
- Lupin Pharmaceuticals
- Dr. Reddy’s Laboratories Limited
- Bristol-Myers Squibb
- Eli Lilly And Company
- Pfizer Inc.
- Alkermes Plc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 16.6 Billion |
| Forecasted Market Value ( USD | $ 35.95 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
