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The global antipsychotic drugs market size is expected to gain traction by reaching USD 33.69 billion by 2028. This information is published by 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 Therapeutic Class (First Generation, Second Generation, and Third Generation), By Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2021-2028.” The report further observes that the market stood at USD 18.59 billion in 2020 and is projected to exhibit a CAGR of 6.2% between 2021 and 2028.
Dr. Reddy’s Announces Launch of Ziprasidone Mesylate Injectable in the U.S.
In March 2020, Dr. Reddy’s, a leading integrated pharmaceutical company, announced the launch of Ziprasidone Mesylate for injection. The company reports that the 20 mg single-dose vials are therapeutic generic equivalent of their prominent Geodon injection that has been approved by the U.S. Food and Drug Administration (USFDA). Marc Kikuchi, CEO of the North American region for the company, says, “The launch is a great addition to our injectable offerings in the United States market. Besides, our continual efforts are to augment our product portfolio and propel considerable growth with the healthcare segment.” The affordable antipsychotic drugs by the company are expected to benefit patients in the region.
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Increasing Prevalence of Mental Illness to Augment Growth
According to the National Institute of Mental Health (NIMH), mental diseases are common in the U.S. In 2019, around one in five adults in the U.S. suffered from mental illness that varied in degree of severity. The increasing prevalence of mental illness, coupled with the growing awareness among the general population, has led to an increased demand for several antipsychotic medicines. Moreover, supportive government initiatives have highlighted the significance of therapy to treat mental disorders. Therefore, these factors are expected to boost the global antipsychotic drugs market growth during the forecast period.
Product Launch by Major Companies to Intensify Industry Competition
The global market comprises small, medium, and large companies striving to maintain their presence by adopting organic and inorganic strategies. The established players are focusing on launching innovative drugs to cater to the growing demand from patents globally. Besides, other players are adopting strategies such as merger and acquisition, collaboration, and partnership to maintain their presence in the fiercely competitive global marketplace.
List of the Companies Profiled in the Market:
Further Report Findings:
Table of Segmentation:
Value (USD Billion)
By Therapeutic Class
By Distribution Channel