"Designing Growth Strategies is in our DNA"
The U.S. antipsychotic drugs market size was worth USD 7.49 billion in 2022 and is projected to grow at a CAGR of 6.4% during the forecast period.
In terms of the U.S. mental healthcare scenario, there is a significant rise in the prevalence of psychiatric illnesses. Second and third generation drugs are considered to have robust efficacy in disease treatment. The strong usage of these medications in the treatment of psychiatric illnesses is a prominent factor for market growth. Similarly, in the U.S., certain government policies support the cost burden associated with psychiatric disorders. In the country, federal policies include the Mental Health Parity Act of 1996 and the Americans with Disabilities Act. This mental health parity defines the equal treatment of mental health conditions in insurance plans.
Many companies are launching antipsychotic drugs for schizophrenia and bipolar disorder in newer forms, such as long-acting injectables, and are strongly focused on strategic acquisitions and partnerships. Such initiatives are likely to propel market expansion in the U.S.
Furthermore, the COVID-19 pandemic had a positive impact on the market due to the increased adoption of long-acting injectables (LAIs) in the U.S.
Increasing Adoption of Long-Acting Injectables (LAIs) to Augment Market Expansion
The introduction of long-acting injectable antipsychotic medications provides an opportunity to increase treatment adherence and overall patient outcomes. The oral medications must be taken daily, whereas long-acting injections (LAIs) of antipsychotic drugs can be given less often, such as every two weeks, monthly, and every three months for only one time.
Furthermore, the benefits associated with long-acting injectable formulations are expected to boost the demand for antipsychotic drugs, which is expected to propel market growth in the future. Similarly, the increasing focus of prominent players on launching long-acting injectable formulations is expected to promote the U.S. antipsychotic drugs market growth.
Robust Prevalence of Mental Health Disorders to Propel Market Expansion
In the U.S., there has been a constant surge in the prevalence of mental disorders. These mental disorders include depression, bipolar disorder, schizophrenia and other psychoses, dementia, developmental disorders, and autism. In addition, the rising geriatric population is contributing to several age-related mental disorders across the U.S.
Such strong prevalence and rising geriatric population are expected to raise the demand for antipsychotic drugs, leading to strong U.S. antipsychotic drugs market growth during the forecast period.
Several Side Effects Related to Antipsychotics Drugs May Hamper Market Growth
Several factors might hamper the increasing demand for antipsychotic drugs in the coming years. The robust usage of antipsychotic drugs can result in hazardous side effects in antipsychotic disease treatment. Commonly, mental disorder treatment involves several months of recovery; it is impossible to predict which medication will work best for a specific person. In such cases, some patients might experience side effects. The common side effects the patient faces include dizziness, dry mouth, blurred vision, movement effects, fluid retention, sedation, loss of menstrual periods in women, sexual problems, and headaches.
In addition, the high costs associated with treating mental disorders hamper the adoption of antipsychotic treatment. Hence, these factors can restrict the U.S. antipsychotic drugs market growth during the forecast period.
Request a Free sample to learn more about this report.
According to an article published by LibreTexts libraries, approximately 3.0% of people experience at least one psychotic episode in the U.S.
In terms of disease, the market is segmented into schizophrenia, bipolar disorder, unipolar depression, dementia, and others.
The schizophrenia segment held a dominant share of the market in 2022. The strong prevalence of schizophrenia in the U.S. has led to a high demand for antipsychotic drugs. Similarly, various product launches for such diseases are likely to augment the segment’s growth by the end of 2030.
This bipolar disorder segment accounted for the second largest market share due to the high demand for these drugs to manage the symptoms of bipolar disorder. In the unipolar depression segment, the market share is expected to be the third largest due to the use of well-known antipsychotics such as Rexulti to provide some relief from depression symptoms. The dementia and others segment together accounted for a lower share due to limited adoption of these drugs across the U.S.
Based on therapeutic class, the market is segmented into first generation, second generation, and third generation.
The second generation segment dominated the U.S. antipsychotic drugs market share in 2022. The second generation drugs have stronger safety profiles and greater efficacy. In addition, the presence of a large number of second-generation drugs and significant product launches is likely to spur the adoption of these products, thereby propelling the segment’s growth.
The third generation segment is expected to attain higher CAGR due to intense usage and product launches in the market. Moreover, the first-generation segment holds the lowest CAGR due to its lesser safety profile compared to other-generation drugs.
Based on drug, the market is segmented into risperidone, quetiapine, olanzapine, aripiprazole, brexpiprazole, paliperidone palmitate, and others.
The others segment accounted for the maximum market share in 2022. The segment's growth was attributed to the launch of advanced products and the presence of a large number of drugs in this segment. Moreover, the growing adoption of such drugs due to strong prevalence and awareness about psychiatric diseases will likely drive the segment’s growth by 2030.
The paliperidone palmitate segment held a suitable share due to significant FDA approvals for advanced formulations.
Based on distribution channel, the market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies.
The hospital pharmacies segment held the largest market share in 2022. The growth of this segment is attributed to the fact that these medications are commonly prescribed after comprehensive examinations by trained medical professionals at hospitals. In addition, suitable reimbursement policies promote the segment’s growth in the U.S.
The drug stores and retail pharmacies segment will have the second largest market share. This segment is observed as a key distribution channel as it allows for the purchase of oral prescription drugs as well as prescription refills. Online pharmacies are expected to have the highest CAGR in the coming years as they make it easier and more convenient for patients to obtain medication.
In terms of the competitive landscape, the U.S. antipsychotic drugs market reflects a semi-consolidated structure. The significant players in the U.S. market include Otsuka Pharmaceutical Co. Ltd. and Janssen Global Services LLC. The factors attributed to Otsuka Pharmaceutical Co. Ltd.’s and Janssen Global Services LLC’s dominance is the presence of a diverse product portfolio for antipsychotic drugs, strong R&D initiatives, and growing strategic activities.
Besides this, other significant players include Bristol Myers Squibb Company, Sumitomo Dainippon Pharma Co., Ltd., and Lilly. These companies are focusing on strategic activities, further strengthening their market presence.
An Infographic Representation of U.S. Antipsychotic Drugs Market
To get information on various segments, share your queries with us
The report summarizes a detailed analysis of the market. It emphasizes vital aspects such as the prevalence of psychiatric disorders, pipeline analysis, key industry developments, new product launches, and the cost and burden of mental health disorders. Moreover, it highlights the deep analysis of first-generation antipsychotics versus second and third-generation antipsychotics and company profiles of significant players in the market. In addition, it includes market dynamics, the COVID-19 impact, and the factors expected to contribute to the growth of the market during the forecast period.
To gain extensive insights into the market, Request for Customization
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 6.4% from 2023 to 2030 |
Unit | Value (USD Billion) |
Segmentation | By Disease
|
By Drug
| |
By Therapeutic Class
| |
By Distribution Channel
|
Fortune Business Insights Inc. says that the market in the U.S. was worth USD 7.49 billion in 2022.
The U.S. market for antipsychotic drugs is expected to grow at a CAGR of 6.4% during the forecast period (2023-2030).
In terms of the disease segment, schizophrenia is the prominent segment in the U.S. market.
Otsuka Pharmaceutical Co. Ltd. and Janssen Global Services LLC are some of the key players in the U.S. market.
US +1 833 909 2966 ( Toll Free )