Global Neuroleptics Market: Rising Demand for Antipsychotic...

Global Neuroleptics Market: Rising Demand for Antipsychotic Medications for Neurological and Psychiatric Disorders

Posted 2023-09-27 14:16:22

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The global neuroleptics market refers to the pharmaceutical sector that focuses on the production, distribution, and sales of neuroleptic drugs, also known as antipsychotics. Neuroleptics are a class of medications primarily used in the treatment of neurological and psychiatric disorders, including schizophrenia, bipolar disorder, and certain types of dementia.

The neuroleptics market has witnessed significant growth in recent years due to various factors. Firstly, the high prevalence of mental health disorders, such as schizophrenia and bipolar disorder, has contributed to the increased demand for neuroleptic medications. These disorders affect millions of people worldwide and require long-term treatment with antipsychotic drugs to manage symptoms and improve patients' quality of life.

Secondly, the growing awareness and understanding of mental health issues have led to increased diagnosis rates and treatment-seeking behavior among individuals with psychiatric disorders. This has further fueled the demand for neuroleptic medications, as healthcare professionals are more likely to prescribe antipsychotics for appropriate patients.

Additionally, advancements in drug development and the introduction of novel antipsychotic medications have expanded the neuroleptics market. Pharmaceutical companies are continuously investing in research and development activities to discover new and improved neuroleptic drugs with enhanced efficacy, better tolerability, and fewer side effects. These innovations have provided healthcare providers with a broader range of treatment options, thereby driving market growth.

Furthermore, the aging population and the associated increase in age-related neurodegenerative disorders, such as Alzheimer's disease and Parkinson's disease, have contributed to the growth of the neuroleptics market. Neuroleptic drugs are sometimes prescribed to manage behavioral symptoms, including agitation and psychosis, in patients with these conditions. The neuroleptics market is also influenced by factors such as government initiatives to improve mental health services, increased healthcare spending, and the expansion of healthcare infrastructure in emerging economies. These factors create favorable conditions for the market's growth by increasing access to neuroleptic medications and facilitating their distribution to underserved populations.

However, challenges exist within the neuroleptics market. Adverse effects associated with neuroleptic medications, including weight gain, metabolic disturbances, and movement disorders, have raised concerns regarding their long-term use. Efforts are being made to develop new antipsychotics with improved safety profiles to address these issues and enhance patient compliance.

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Companies profiled in the market report include AbbVie Inc., Alkermes, Bristol-Myers Squibb Company, Dr. Reddy’s Laboratories Ltd., Lilly, Johnson & Johnson Services, Inc., Otsuka Holdings Co., Ltd., AstraZeneca, Pfizer Inc., and Teva Pharmaceutical Industries Ltd.

The neuroleptics market is also influenced by factors such as government initiatives to improve mental health services, increased healthcare spending, and the expansion of healthcare infrastructure in emerging economies. These factors create favorable conditions for the market's growth by increasing access to neuroleptic medications and facilitating their distribution to underserved populations.

In summary, the neuroleptics market is witnessing significant growth due to the increasing prevalence of mental health disorders, advancements in drug development, and the rising aging population. The market's expansion is expected to continue as healthcare systems focus on improving access to mental healthcare and researchers strive to develop safer and more effective neuroleptic medications.

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Here are some key highlights from the report:

The first generation and second generation of neuroleptics have separate markets in the global market based on therapeutic class. With the wide distribution of second-generation medications, the second-generation segment had the biggest revenue share in 2021. Only a few of the well-known second-generation antipsychotic medications currently on the market include SEROQUEL XR, clozapine (Clozaril), ZYPREXA, VRAYLAR, INVEGA HAFYERA, and Rexulti. Furthermore, it is anticipated that the development of the market would be fueled by the enhanced safety and enhanced efficacy of these more recent generations of pharmaceuticals. An antipsychotic of the second generation called lurasidone has recently received FDA approval for the treatment of schizophrenia. Lurasidone, like the vast majority of other second-generation antipsychotics, is totally antagonistic to both dopamine D2 and serotonin 5HT2A receptors.
The North American market will account for the greatest revenue share in 2021, according to regional analysis. This is due to the population's rising prevalence of mental diseases like schizophrenia. Because of their developed healthcare infrastructure, enhanced regulatory environment, increased frequency of mental illnesses, and government support, countries in this region have superior mental healthcare systems. Also, businesses employ a variety of commercial strategies to preserve their place in the neuroleptics industry, including partnerships, product launches, acquisitions, and mergers.
For instance, Neurocrine Biosciences and Sosei Group Corporation established a partnership to develop a novel brand of protein inhibitor on November 29, 2021. Neurocrine Biosciences will investigate this relationship to improve medicines for a variety of neuropsychiatric disorders.

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For the purpose of this report, Reports and Data has segmented the global neuroleptics industry into Therapeutic Class Outlook, Application Outlook, End-use Outlook, Regional Outlook:

Therapeutic Class Outlook

First Generation
Second Generation

Application Outlook

· Schizophrenia

Dementia
Bipolar Disorder
Depression
Others

End-use Outlook

· Hospital Pharmacies

Retail Pharmacies
Online Pharmacies

Regional Outlook

· North America

- U.S.
- Canada
- Mexico

Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
Latin America
- Brazil
- Rest of LATAM
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA

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