Atypical Antipsychotic Market is Booming Worldwide by 2028 | Growth, Share, Demand and Analysis Forecasts
Evolution of Atypical Antipsychotic Drugs
The introduction of atypical antipsychotic drugs in the market has changed the scenario of the serious mentally disorders. Patients suffering from mental disorders are no longer needed to be physically restrained and could be managed with drug treatment and medication. The introduction of atypical antipsychotic drugs was a breakthrough in psychiatric care. Clozaril (clozapine) was the first FDA-approved atypical antipsychotic drug, which was used for the treatment of schizophrenia. Sandoz Pharmaceutical Corporation was the inventor of Clozaril drug. Clozaril is an effective drug for schizophrenia without any extrapyramidal symptoms (EPS) or side effects. According to the New York Times, Clozaril was one of the world’s most expensive drugs. Janssen Pharmaceutical division of Johnson and Johnson was the second company with another atypical antipsychotic drug called Risperdal (risperidone), which was approved by the FDA in 1993. In 2003, the drug was approved to treat bipolar disorders. The third atypical antipsychotic drug called Zyprexa (olanzapine) was launched by Eli Lily in the market. In 1996, Zyprexa was given the FDA approval after the clinical studies. Later on, many atypical antipsychotic drugs were introduced in the market.
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Atypical Antipsychotic Market Assessment by Indication Type
Atypical Antipsychotics Drugs
Some of the commonly used atypical antipsychotics drugs for the treatment of mental disorders are Ziprasidone, Paliperidone, Aripiprazole, Risperidone, Quetiapine, and others. A significant portion of the market has been covered by Quetiapine and Risperidone because they are inexpensive drugs used to treat schizophrenia and bipolar disorders. Moreover, the awareness towards mental disorders is primarily important, which leads to strong positioning of the drugs in the overall market.
Regional Market Outlook
Geographically, the global atypical antipsychotic market is segmented into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and the Middle East & Africa. North America will continue to dominate the global market due to large patient pool and high treatment rates. Europe is expected to hold second highest share in the global atypical antipsychotic market owing to increasing R&D efforts by the key players in the region. Asia Pacific is expected to have delayed growth in the atypical antipsychotics market. According to the Medical Council of India, many Indians are diagnosed with psychological disorders but due to lack of awareness, they are being untreated.
Examples of some of the key players identified in the global atypical antipsychotic market are GlaxoSmithKline Plc., Johnson and Johnson, Pfizer Inc., Eil Lilly and Company, Bristol-Myers Squibb Company, Allergan Plc., Cardinal Health Inc., Sanis Health Inc. , Ranbaxy Inc. (Sun Pharmaceutical Industries Ltd.), Novartis AG, etc.
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- Ranbaxy Inc. (Sun Pharmaceutical Industries Ltd.
- Cardinal Health Inc.
- Sanis Health Inc.
- Bristol-Myers Squibb Company
- Novartis AG
- Allergan Plc.
- GlaxoSmithKline Plc.
- Johnson and Johnson
- Pfizer Inc.
- Eil Lilly and Company
Key data points covered in report
The report covers exhaustive analysis on:
- Atypical Antipsychotic Market by test type, end user and region
- Regional level market analysis of North America, Latin America, Europe, Asia Pacific Excluding Japan, Japan, Middle East & Africa by test type, end user segments and country
- Atypical Antipsychotic Market Dynamics & Opportunity Assessment
- Historical Actual Market Size, 2013 – 2017
- Atypical Antipsychotic Market Size & Forecast 2018 – 2028
- Organ Function Assays Agents Current Trends/Issues/Challenges
- Competition & Companies involved
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By Drug Class
- Bipolar I Disorder
- Schizoaffective Disorder
- Major Depressive Disorder (MDD)
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Drug Store