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Antipsychotic Drugs Market Size & Share

Antipsychotic Drugs Market Size & Share

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Antipsychotic Drugs Market Size & Share

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  1. Antipsychotic Drugs Market Analysis 2024-2032 Market Size and Growth The global antipsychotic drugs market is projected to grow from $17.32 billion in 2024 to $26.48 billion by 2032, exhibiting a CAGR of 5.4%. North America dominates with a 61.83% market share in 2023. Key Growth Drivers  Rising prevalence of psychiatric disorders, with WHO estimating mental disorders will cost the global economy $6.0 trillion by 2030  Increased adoption of long-acting injectable (LAI) antipsychotics to improve treatment adherence  Growing research and development initiatives for novel drug development Market Segments By Disease Type (2023)  Schizophrenia: Largest segment at 45.2% market share  Bipolar Disorder: Second largest segment  Unipolar Depression  Dementia  Others By Drug Class  Second Generation: Dominant segment due to better safety profile  Third Generation: Highest projected CAGR  First Generation: Declining due to side effects By Distribution Channel  Hospital Pharmacies: Largest segment  Drug Stores & Retail Pharmacies  Online Pharmacies: Fastest growing segment Key Market Players Leading companies include:  Janssen Global Services LLC  Otsuka Pharmaceutical Co. Ltd.  Eli Lilly and Company  Sumitomo Dainippon Pharma Co., Ltd.

  2. Bristol-Myers Squibb Company Recent Developments Product Launches and Approvals  January 2024: Teva Pharmaceutical completed Phase 3 trial enrollment for mdc-TJK (TEV- 44749), a monthly subcutaneous long-acting injection of olanzapine  April 2023: Teva Pharmaceuticals received FDA approval for UZEDY (risperidone) extended- release injectable suspension  February 2023: Lupin launched generic antipsychotic medication in strengths of 20-120mg in the U.S. Strategic Initiatives  November 2023: Teva Pharmaceutical and Royalty Pharma collaborated with $125 million funding agreement for olanzapine LAI program  March 2022: AbbVie partnered with Gedeon Richter Plc for neuropsychiatric drug development Regional Analysis  North America: $9.98 billion (2023), driven by high disease prevalence and presence of major pharmaceutical companies  Europe: Second largest market, supported by increased healthcare spending  Asia Pacific: Fastest growing region, particularly in India and China  Latin America and Middle East & Africa: Limited but growing market share Market Challenges  Side effects of antipsychotic medications limiting adoption  Strict regulatory requirements for drug approval and distribution  FDA black box warnings linking atypical antipsychotics to increased mortality in elderly dementia patients Report- Fortune Business Insights - Antipsychotic Drugs Market Size, Share, Trends & Growth, 2032 https://www.fortunebusinessinsights.com/industry-reports/antipsychotic-drugs-market-101390

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