Portland, OR, Oct. 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global antipsychotic drugs market generated $12.4 billion in 2020, and is projected to reach $26.04 billion by 2030, witnessing a CAGR of 8.0% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Rise in prevalence of mental health disorders and increase in awareness of psychological disorders drive the growth of the global antipsychotic drugs market. However, side-effects of antipsychotic therapeutics restrain the market to some extent. On the other hand, high growth potential in developing economies present new opportunities in the upcoming years.
COVID-19 scenario:
- The outbreak of the COVID-19 pandemic have had a negative impact the global antipsychotic drugs market.
- Few specialized mental health provision has been cut to increase capacity to treat physical impact of COVID-19.
- Moreover, many general hospital psychiatric wards have been converted into COVID-19 wards. These factors hampered the global antipsychotic drugs market to a great extent.
The report offers detailed segmentation of the global antipsychotic drugs market based on therapeutic class, application, distribution channel, and region.
Based on therapeutic class, the second generation segment held the highest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, this segment is estimated to register the highest CAGR of 8.2% from 2021 to 2030, while first generation registered CAGR of 7.7% from 2021 to 2030.
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Based on distribution channel, the retail pharmacies segment held the largest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. However, the online pharmacies segment is projected to register the highest CAGR of 9.8% from 2021 to 2030.
Based on region, the global antipsychotic drugs market across North America contributed to the highest share in terms of revenue in 2020, holding nearly half of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 9.8% during the forecast period.
Leading players of the global antipsychotic drugs market analyzed in the research include Eli Lily and Company, AstraZeneca plc, GlaxoSmithKline plc, Johnson & Johnson, Otsuka Pharmaceutical Co, Ltd., Pfizer Inc., AbbVie Inc., Bristol-Myers Squibb, Teva Pharmaceuticals, and Dr. Reddy's Laboratories.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
