Global Neuroleptic Drugs Market - 2021-2028

Global Neuroleptic Drugs Market - 2021-2028

Market Overview

The global neuroleptic drugs market size was valued at US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).

Antipsychotics are also known as neuroleptics. They are a psychotropic medication used to treat psychosis, most notably schizophrenia and various other psychotic disorders.

Market Dynamics

The factors such as growing demand for neuroleptic drugs and increasing incidence of mental disorders are expected to drive the market growth.

The growing demand for neuroleptic drugs is expected to drive market growth in the forecast period

Neuroleptics, also known as antipsychotic medications, treat and manage symptoms of many mental illnesses. They are classified as either first-generation or ""typical"" antipsychotics or second-generation or ""atypical"" antipsychotics. Antipsychotics of the first and second generations treat various neuropsychiatric disorders. Attention deficit hyperactivity disorder (ADHD), behavioural disturbances in dementia, geriatric agitation, depression, eating disorders, personality disorders, insomnia, generalized anxiety disorder, obsessive-compulsive disorder, post-traumatic stress disorder (PTSD), and substance use and dependence disorders are examples of these. The increasing incidence of these disorders is expected to drive market growth. For instance, according to WHO, an estimated 300 million people worldwide suffer from depression, and 60 million have bipolar disorder. Antipsychotic or neuroleptic medications treat schizophrenia and other similar conditions by nearly 7 million people in the United States. Hence, this demand for neuroleptic drugs is expected to grow.

The side effects associated with the use of neuroleptic drugs is expected to hamper the market growth

Depending on the potency and class of neuroleptic medication used, neuroleptics can cause a wide range of side effects. For instance, extrapyramidal symptoms, which are movement disorders caused by medications, are more likely to occur with high-potency, first-generation neuroleptics like haloperidol and fluphenazine. Extrapyramidal symptoms include muscle spasms (acute dystonia), motor restlessness (akathisia), and parkinsonism, distinguished by instability, shuffling gait, and muscle rigidity. Another extrapyramidal effect is tardive dyskinesia, characterized by involuntary, repetitive movement, such as smacking lips or waving arms. Tardive dyskinesia can occur after long-term medication use and is irreversible. The neuroleptic malignant syndrome is a rare, potentially fatal extrapyramidal side effect that manifests as confusion, muscle rigidity, seizures, coma, agitation, and hyperthermia and necessitates immediate medical attention.

Low-potency, first-generation neuroleptics like chlorpromazine and thioridazine frequently cause side effects similar to anticholinergics, which are medications that block the neurotransmitter acetylcholine. Dry mouth, sedation, constipation, and dizziness are possible side effects. Low-potency, first-generation neuroleptics are less likely to cause extrapyramidal symptoms in general. Extrapyramidal and anticholinergic side effects are less common in second-generation neuroleptics. They may, however, result in weight gain, drug-induced type 2 diabetes, and fatigue.

COVID-19 Impact Analysis

During the COVID-19 pandemic, many people experienced stress, anxiety, fear, sadness, and loneliness. And mental health disorders, such as anxiety and depression, can deteriorate. Surveys show a significant increase in the number of U.S. adults reporting stress, anxiety, depression, and insomnia during the pandemic compared to surveys before the pandemic. Some people increase their alcohol or drugs to believe that it will help them cope with their pandemic fears. In reality, these substances can exacerbate anxiety and depression. This led to the greater adoption of neuroleptic drugs to cope with these symptoms. Hence, with growing incidence of mental disorders during COVID-19 is expected to drive market growth.

Segment Analysis

Schizophrenia segment is expected to dominate the market growth

Schizophrenia is a serious mental disorder that affects many people worldwide. The disease is characterized primarily by distortions in thinking, emotions, sense of self, and behaviour. According to the WHO, this disorder affects approximately 23 million people worldwide, with 12 million men and 9 million women affected. According to the National Institute of Mental Health, the prevalence of schizophrenia and related symptoms is between 0.25 and 0.64 percent, and it is rapidly increasing. This increase in disease prevalence is contributing to market growth.

Because the disease is serious and increases the chances of death if not treated properly, there is a growing emphasis among pharmaceutical companies to develop novel drugs for the treatment of this disease. Several FDA-approved drugs are currently available on the market. For instance, on December 27th, 2019, the U.S Food and Drug Administration (FDA) approved a new drug, Caplyta (lumateperone), which will provide people living with schizophrenia with a new treatment option. Hence, the increasing incidence of schizophrenia and FDA approvals of drugs are expected to drive market growth over the forecast period.

Geographical Analysis

North America region is expected to hold the largest market share in the global neuroleptic drugs market

The increasing incidence of mental disorders and FDA approvals is expected to drive the market in this region.

In the United States, anxiety disorders are the most common mental illness. According to the Anxiety and Depression Association of America, anxiety affects 40 million adults aged 18 and older, or 18.1 percent of the population each year. Anxiety disorders affect nearly half of those who are diagnosed with depression. The increasing FDA approvals for neuroleptic drugs are expected to boost this region's market. For instance, on June 4th, 2021, The U.S Food and Drug Administration (FDA) approved Lybalvi (olanzapine and samidorphan), a once-daily atypical antipsychotic drug, to treat schizophrenia and adults with bipolar I disorder.

Competitive Landscape

The global neuroleptic drugs market is highly competitive with FDA approvals, company mergers, and acquisitions. Some of the key players in the market are Eli Lily and Company, Johnson and Johnson, Pfizer Inc., AstraZeneca plc, Otsuka Pharmaceutical Co, Ltd., Sumitomo Dainippon Pharma Co., Ltd., Alkermes plc, H. Lundbeck A/S, Abbvie Inc, Dr. Reddy’s Laboratories Ltd

Sumitomo Dainippon Pharma Co., Ltd.

Overview: Sumitomo Dainippon Pharma Co., Ltd. is a Japanese pharmaceutical company. Its headquarters are in Osaka's Chuo-ku district. The company was founded in the year 2005. The Company's primary markets are Japan, North America, and China.

Product Portfolio: The company's product, lurasidone, is an atypical antipsychotic medication that is thought to have a dopamine D2 affinity. It has antagonistic effects on serotonin 5-HT2A and 5-HT7 receptors. Furthermore, LATUDA is a partial agonist at the serotonin 5-HT1A receptor with no discernible affinity for the serotonin 5-HT1B receptor.

Key Development: On January 29th 2019, Sumitomo Dainippon Pharma Co., Ltd. launched Latuda, an atypical antipsychotic (generic name: lurasidone hydrochloride), to treat patients with schizophrenia in China.

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• Visualize the composition of the global neuroleptic drugs market segmentation by drug, by application, and end user highlighting the key commercial assets and players.
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Target Audience
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers

Market Segmentation

Global Neuroleptic Drugs Market- By Drug
• First Generation (Typical)

o Chlorpromazine

o Droperidol

o Fluphenazine

o Haloperidol

o Loxapine

o Perphenazine

o Pimozide

o Prochlorperazine

o Thiothixene

o Thioridazine

o Trifluoperazine

o Other
• Second Generation (Atypical)

o Aripiprazole

o Asenapine

o Clozapine

o Iloperidone

o Olanzapine

o Paliperidone

o Quetiapine

o Risperidone

o Ziprasidone

o Other

Global Neuroleptic Drugs Market- By Application
• Schizophrenia
• Bipolar Disorder
• Unipolar Disorder
• Dementia
• Other

Global Neuroleptic Drugs Market- By End User
• Hospital Pharmacies
• Retail Pharmacies
• Other

Global Neuroleptic Drugs Market- By Region
• North America
• Europe
• South America
• Asia Pacific
• Middle East and Africa