Antipsychotics Market: Recent Developments, Emerging Trends and Business Outlook to 2028
Antipsychotics, also known as neuroleptics, are a class of medication used to treat mental illness, including delusional fantasies, disturbances, anxiety, and delusional thoughts. Although these drugs are most commonly used to diagnose schizophrenia, they can also be used to treat a wide range of other mental illnesses, such as depression, bipolar disorder, and unipolar disorder, among others. It is important to note that the use of antipsychotic drugs has been linked to decreased brain tissue volumes, which is dosage and duration dependent.
The global antipsychotics market report provides comprehensive coverage of the current market scenario, including the impact and changes resulting from the COVID-19 pandemic and emergence of virus variants.
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The outbreak and social distancing norms and restrictions severely disrupted the overall business landscape and operations worldwide. The pandemic and lockdowns have resulted in several countries shutting down airports, ports, and commercial and domestic transportation, impacting manufacturing activities and operations globally and taking a toll on the economy of various countries.
Key players in the Antipsychotics Market:
· H. Lundbeck A/S
· Otsuka Pharmaceutical Co., Ltd.
· Janssen Pharmaceuticals, Inc.
· Eli Lilly and Company
· ALLERGAN (AbbVie, Inc.)
· Teva Pharmaceutical Industries Ltd.
· Dr. Reddy’s Laboratories Ltd.
· Sumitomo Dainippon Pharma Co., Ltd.
· Alkermes PLC
· Bristol-Myers Squibb Company
The COVID-19 pandemic and related restrictions severely impacted the global antipsychotics market, with both positive and negative impacts analyzed in the report. The pandemic led to worldwide shutdowns of transportation and manufacturing activities, resulting in a slowdown in production, employment loss, and reduced disposable income.
The emergence of new virus variants and subsequent lockdowns also disrupted supply chains and operations. The report outlines drivers and restraints impacting the antipsychotics market, including increasing prevalence of mental illnesses and need for new treatments, the launch of new and innovative drugs, and possible adverse effects of antipsychotic drugs.
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The report analyzes both the negative and positive impacts of the COVID-19 pandemic. Complete country-wide lockdowns and partial lockdowns had a major impact on the demand-side and supply-side of the manufacturing sector. The initial impact of the second wave hit small businesses and retailers the hardest owing to liquidity crunches and stretched working capital. Healthcare infrastructure.
North America accounted for the largest revenue share in 2020, with the Asia Pacific market expected to register the highest revenue growth rate during the forecast period. Key companies in the global market include H. Lundbeck A/S, Otsuka Pharmaceutical Co., Ltd., Janssen Pharmaceuticals, Inc., and Bristol-Myers Squibb Company. The report also provides a breakdown of the market by drug class, application, end-use, and region.
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