Antipsychotic Drugs Market to Increase Gradually with the CAGR 6.0% with Market Valuation Reaching USD 24.35 Billion by 2030, Increase In The Awareness Caused The Greater Adoption Of These Drugs To Propel Market Growth

The global antipsychotic drugs market size is estimated to display strong growth by reaching USD 24.35 billion by 2030. Fortune Business Insights™ in its report titled “Antipsychotic Drugs Market Size, Share & COVID-19 Impact Analysis, By Disease (Schizophrenia, Bipolar Disorder, Unipolar Depression, Dementia, and Others), By Drug (Risperidone, Quetiapine, Olanzapine, Aripiprazole, Brexpiprazole, Paliperidone Palmitate, and Others), By Therapeutic Class (First Generation, Second Generation, and Third Generation), By Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 15.47 billion in 2022 and is expected to reach USD 16.14 billion in 2023 with CAGR 6.0%. Prominent companies such as Janssen Global Services, Otsuka Pharmaceutical Co., Ltd., and Eli Lilly are anticipated to boost the market growth over the forecast period. Increasing number of mental disorders is set to drive the market growth. Increase in the awareness caused the greater adoption of these drugs, significantly increasing the market growth in key countries.

Abbvie Submitted A Supplemental New Drug Application (SNDA) For Cariprazine (VRAYLAR) To The U.S. FDA

In February 2022, AbbVie submitted a supplemental New Drug Application (sNDA) for cariprazine (VRAYLAR) to the U.S. FDA for the drug’s approval as an adjunctive treatment for the major depressive disorder (MDD) in patients who are receiving ongoing antidepressant therapy.

Greater Adoption Of Long-Acting Injectables (LAIs) During The Pandemic Supported the Market Growth

There was a greater transition towards telemedicine for the management of psychotic diseases. The lockdown and stay-at-home measures led to a significant impact on the mental health of a considerable number of individuals. Hence, the global market witnessed a strong sales performance during the pandemic. This is also attributable to the greater adoption of Long-Acting Injectables (LAIs) during the pandemic. Overall, the COVID-19 impact positively impacted the market growth in 2020. The market is anticipated to witness growth stabilization during the forecast period 2023-2030.

Rise In The R&D Initiatives For The Development Of New Drugs To Drive Market Growth

Rise in the R&D initiatives for the development of new drugs is predicted to drive antipsychotic drugs market growth. Recently, there have been numerous research and development initiatives for new drugs to increase the safety and efficacy of such drugs. In main countries, increasing awareness led to the greater adoption of these drugs. Despite, the stringent drug approval policies, adoption, and reimbursement, the R&D culture for these drugs has grown over the decades. Clinical trials of these drugs are expected to strongly move forward the process of drug development. Karuna Therapeutics is advancing its product pipeline by introducing novel drug candidates such as KarXT (xanomeline-trospium) for the treatment of various psychiatric and neurological conditions.

However, common adverse reactions of these medications include mild sedative symptoms, dry mouth, akathisia, issues relating to digestion, weight problems, acute dystonia, and tardive dyskinesia which led to hampering of the market growth.

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High Presence Of Various Biopharmaceutical Companies That Maintain Market Dominance to Drive Competition

In terms of the competitive landscape, the global market has high presence of various biopharmaceutical companies that maintain market dominance due to their robust psychiatric drug portfolio. The key players include Janssen Global Services LLC and Otsuka Pharmaceutical Co. Ltd and former leads the market due to its prominent antipsychotics portfolio which includes Invega Sustenna and Risperdal Consta. Strong geographical presence, and a robust R&D pipeline for neuropsychiatric drugs leading to significant product approvals.

Key Industry Development

• March 2022: AbbVie entered into a co-development and license agreement with Gedeon Richter Plc. for research, development, and commercialization of dopamine receptor modulators for potentially treating neuropsychiatric diseases.

List of Key Companies Profiled in the Market Report:

• H. Lundbeck A/S (Denmark)


• Otsuka Pharmaceutical Co., Ltd. (Japan)


• Janssen Pharmaceuticals, Inc. (Johnson & Johnson) (Belgium)


• Eli Lilly and Company (U.S.)


• ALLERGAN (AbbVie, Inc.) (U.S.)


• Teva Pharmaceutical Industries Ltd. (Israel)


• Dr. Reddy’s Laboratories Ltd. (India)


• Sumitomo Dainippon Pharma Co., Ltd. (Japan)


•  Alkermes plc (Ireland)


•  Bristol-Myers Squibb Company (U.S.)

Further Report Findings

• The global antipsychotic drugs market share is led by North America strong awareness of the critical nature of mental illnesses in the region. The region has the valuation of USD 8.05 billion in 2022. In 2022, according to National Alliance on Mental Illness (NAMI), the annual prevalence of bipolar disorder in the U.S. is 2.8%.


• The European market for antipsychotic drugs is anticipated to be the second-largest region in 2022 due to the increased awareness and spending by government bodies regarding psychiatric illnesses.

Table of Segmentation