Antipsychotics Market, By Type (First Generation, Second Generation, and Third Generation), By Application (Schizophrenia, Bipolar Disorder, Unipolar Depression, Dementia, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) --Market Trends, Analysis and Forecast till 2034

Antipsychotics Market was valued at US$ 18.8 billion in 2024 and is projected to grow at a CAGR of 8.8% to reach US$ 40.4 billion by 2034.

Antipsychotics are a class of medication primarily used to manage psychosis, a collection of symptoms that affect a person's ability to tell what's real and what isn't. These symptoms can include visual and auditory hallucinations, and delusions ranging from short-term minor episodes to longer severe attacks. Other symptoms of psychosis include disorganized thinking, difficulty in speaking clearly, and disorganized behavior.

Today the medications available in the antipsychotics market are a critical part of treating conditions that involve psychosis, such as schizophrenia and bipolar disorder.  Without them, many of these conditions can be so disruptive or severe that they require 24/7 psychiatric care.

There are two main generations of antipsychotics available in the antipsychotics market which are first-gen typical antipsychotics and second-gen antipsychotics.

First-generation antipsychotics were first introduced into the antipsychotics market in the 1950s. They work by blocking dopamine receptors in the brain. Dopamine is a neurotransmitter that is involved in movement, thinking, and emotion. Blocking dopamine receptors can help to reduce psychotic symptoms, but it can also cause side effects such as movement problems (tardive dyskinesia), drowsiness, and weight gain.

Second-generation antipsychotics (also known as atypical antipsychotics) were introduced in the 1970s. They work by blocking dopamine receptors and serotonin receptors. Serotonin is another neurotransmitter that is involved in mood, sleep, and appetite. Blocking serotonin receptors is thought to help reduce some of the side effects of first-generation antipsychotics. This has led to the greater popularity of these in the antipsychotics market today.

Antipsychotic medications can be very effective in treating psychosis, but they are not a cure. They can also cause side effects, so it is important to consult a doctor about the risks and benefits of taking these medications.

In adulthood, 19.86% of people suffer from a mental illness comparable to around 50 million Americans in 2023. 4.91% of people suffer from a serious mental illness. In New Jersey, the state prevalence of adult mental illness is 16.37%; in Utah, it is 26.86%. Such numbers are set to increase twice over within the next decade. This will increase demand for the antipsychotics market.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Drivers of the Antipsychotics Market:      

• Rising prevalence of mental illness: Schizophrenia, bipolar disorder, and other mental illnesses are becoming more common around the world. This is due in part to an aging population, as well as increased awareness and diagnosis of mental health conditions. With a global increase in mental stress and other negative factors average global mental health is seeing a rapid decline.
• Increased awareness and reduced stigma: There is a growing movement to reduce the stigma associated with mental illness. This is leading to more people seeking help and being diagnosed with mental health conditions. As a result, the demand for antipsychotic medications is increasing and growing in the antipsychotics market.
• Development of new and improved antipsychotics: Pharmaceutical companies are constantly developing new and improved antipsychotic medications. These new drugs often have fewer side effects than older medications, making them more attractive to patients and doctors.
• Growing emphasis on early intervention: There is a growing emphasis on early intervention for mental illness. This means that people are being diagnosed and treated for mental illness sooner. Early intervention can help to prevent the worsening of symptoms and improve long-term outcomes. Antipsychotic medications can be an important part of early intervention for mental illness leading to a more widescale appreciation of the antipsychotic market
• Increase in healthcare spending: Healthcare spending is rising around the world. This is due in part to an aging population, as well as the development of new and expensive medical technologies. This increased spending is helping to fuel the growth of the antipsychotics market.

Restrains in the Antipsychotics Market:

• Multiple side-effects: Unpleasant side effects of antipsychotics include tardive dyskinesia (involuntary muscle movements), weight gain, and sleepiness. Patients may be less inclined to adhere to their treatment regimen as a result of these adverse effects, which could exacerbate their disease and raise overall healthcare expenses. These side effects have proven a major roadblock in the wider adoption of the antipsychotics market.

Key Opportunities in Antipsychotics Market:

• Development of new and improved drugs: Pharmaceutical companies are constantly developing new and improved antipsychotic medications. These new drugs may have fewer side effects or be more effective than existing medications creating more favourable opinions about the antipsychotics market amongst doctors and patients.
• Expansion of therapeutic applications: Researchers are exploring the use of antipsychotic drugs for the treatment of a wider range of conditions, such as anxiety disorders and autism spectrum disorder. This could significantly expand the antipsychotics market’s reach.
• Shift towards long-acting injectables: There is a growing trend towards the use of long-acting injectable antipsychotics. These drugs are administered less frequently than traditional oral medications, which can improve patient compliance and adherence to treatment.

Antipsychotics Market is segmented based on based on by Type, by Technology, and Region.

Type Insight

• First Generation- This is a mature segment of the antipsychotics market since they have been around for much longer but this segment is set to witness a declining path in the future due to the competition from the second-generation drugs.
• Second Generation- Currently this segment holds the largest market share due to the wider range of available drugs and their improved safety profile compared to first-generation drugs.
• Third Generation- This segment of the antipsychotics market is expected to grow at the fastest rate in the coming years due to new product launches and potentially better efficacy and tolerability. The rising prevalence of mental disorders like schizophrenia and bipolar disorder.

Application Insights

• Schizophrenia- This is the dominant segment, holding the largest market share due to the high prevalence of the disease globally. Additionally, there are frequent product launches for new medications to treat schizophrenia, further driving the antipsychotics market growth.
• Bipolar Disorder- This segment accounts for a significant market share. Antipsychotics are used to manage bipolar disorder symptoms, and the demand is expected to grow steadily due to rising mental stress, especially among teenagers and young adults.
• Unipolar Depression- This segment is anticipated to have the third-largest revenue share of the antipsychotics market. Some prominent antipsychotics, like Rexulti, have shown effectiveness in offering relief from depression symptoms which are on the rise globally.
• Dementia- This segment is still under development use of antipsychotic drugs has not been extensively researched in the case of dementia.
• Others- This is a niche segment catering to disorders like OCD and minor symptoms like panic attacks etc.

Regional Insights:

Antipsychotics Market Regional Insights:

On region the Antipsychotics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

• North America market currently holds the dominant market share of the Antipsychotics Market and is expected to lead throughout the forecast period due to the high prevalence of chronic mental diseases leading to more demand for early intervention. Advanced healthcare infrastructure with well-equipped hospitals and a strong presence of leading health tech manufacturers are other major growth drivers.
• Asia Pacific region is the second largest regional market projected to witness a significant growth rate in the forecast period due to factors like rising disposable incomes, increasing government investments in healthcare, and a rapidly growing geriatric population. Reduction in social stigmas attached to mental health will lead to more diagnoses of such disorders.
• Europe has a mature Antipsychotics Market with a strong focus on product quality and safety that allows rapid diagnosis with minimal side effects. Stringent regulations and high healthcare spending further contribute to market growth.
• Latin America region is expected to show slow growth due to developing healthcare sectors, improved access to medical care, and increasing awareness about the need for mental health awareness and the benefits of antipsychotics.
• Middle East & Africa: The Antipsychotics Market in this region is expected to witness significant growth in the coming years, driven by several factors such as the rapidly growing awareness regarding the benefits of these early pharmaceutical interventions about diagnostic accuracy and efficient patient-oriented care.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Antipsychotics Market report based on By Type, By Technology and Region:

Antipsychotics Market, By Type:

• First Generation
• Second Generation
• Third Generation

Antipsychotics Market, By Technology:

• Schizophrenia
• Bipolar Disorder
• Unipolar Depression
• Dementia
• Others

Antipsychotics Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Antipsychotics Market includes GE Healthcare, Johnson and Johnson AG, Pfizer, Inc., Eli Lilly and Co., Bristol-Myers Squibb Co., AstraZeneca Pharmaceuticals LP, Glaxo SmithKline PLC, Allergan, Inc.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• GE Healthcare*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Overview
  • Business Strategy Overview
• Johnson and Johnson AG
• Pfizer, Inc.
• Eli Lilly and Co.
• Bristol-Myers Squibb Co.
• AstraZeneca Pharmaceuticals LP
• Glaxo SmithKline PLC
• Allergan, Inc.

"*" marked represents similar segmentation in other categories in the respective section.