Neuroleptics Market Size to Surpass USD 15.84 Billion By 2028 | Reports and Data
September 23, 2022
Reports And Data
The global Neuroleptics Market is estimated to reach USD 15.84 Billion by 2028, according to a new report by Reports and Data
NEW YORK CITY, NY, UNITED STATES, September 23, 2022 /EINPresswire.com/ -- The global Neuroleptics Market is estimated to reach USD 15.84 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the rising incidence of psychosis and other related diseases. The major factors responsible for the rising incidence of these disorders include substance-induced psychoses, genetic mutations, and physical illness that lead to depression. Growing drug abuse, addiction to Neuroleptics drugs and over prescription of drugs are also some of the notable factors that are contributing to the growth of the market. Additional factors such as high investments in research and development and the introduction of new and developed Neuroleptics compounds are expected to stimulate the market growth further.
Anti-psychotic drugs, also called neuroleptics or tranquilizers, are a particular type of medication that is used for treating schizophrenia or bipolar disorder mostly. They are used to treat psychosis, including delusions, hallucinations, and disordered thought of paranoia, among others. These drugs prevent the dopamine receptors in the dopaminergic pathways of the brain, by controlling the effect of dopamine, which is directly connected to the psychotic encounters. The growing predominance of mental illness meanwhile has led to massive consumption of Neuroleptics. National Alliance of Mental Illness conducted a research in 2015 which says, 1 in 5 adults is experiencing mental issues. However, use of these drugs for a long time can result in side effects like involuntary movement disorder and metabolic syndrome, eventually leading to rising mortality in the population with dementia.
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North America accounts for the largest market share of 22.30% in 2020. It is expected to grow at a CAGR of 1.81% during the forecast period. Many people with physical disorders suffer from co-occurring disorders. An increasing predominance of mental health disorders, such as bipolar disorder and schizophrenia, is driving the growth of the Neuroleptics market in North America.
Further key findings from the report suggest:
Neuroleptics drugs are used as medicines to treat severe mental health conditions such as psychosis as well as other mental and emotional disorders. They are also prescribed to treat pain and stubborn hiccoughs that can occur from restlessness during palliative care.
It helps to manage the symptoms of psychosis along with less severe mental health conditions such as mood and bipolar disorder that may grow into later psychosis. These drugs decrease or increase the impact of neurotransmitters in the brain to regulate levels according to the need. Neurotransmitters help to transfer information throughout the brain. The neurotransmitters affected include noradrenaline, dopamine, and serotonin.
Psychosis is a critical mental condition where a patient loses contact with reality. The disease often includes delusions or hallucinations. The patient may often hear voices and sounds that aren’t there when encountering hallucinations, while delusions related to psychosis involves perceptions or thoughts that aren’t based on reality.
Schizophrenia under the disease segment accounts for the largest market share of 39.30% in 2020. It is a type of mental disorder described by false thinking, hearing imaginary voices, the decrease in social engagement, and absence of motivation.
A person with schizophrenia can also suffer from other mental health problems such as major depressive disorder (MDD), anxiety disorder, and substance use disorder.
The Depression sector of the disease segment accounts for the second largest share of 32.20% in 2020 and is one of the major factors that are driving the market growth.
The second generation accounts for the largest share of 37.86% in 2020. It is also known as atypical Neuroleptics that include risperidone, paliperidone, clozapine, asenapine, sertindole, olanzapine, quetiapine. These are used for the treatment of schizophrenia and have swiftly begun replacing the older, first-generation Neuroleptics.
Second generation product are also known as atypical agents. They act as broad-spectrum antagonists of dopamine, alpha-noradrenergic and serotonin receptors.
The market players are primarily focused on developing new technologies to meet the requirements of users. Various companies are also involved in numerous merger & acquisitions as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, and product & service portfolio. The Neuroleptics market is extremely competitive and consists of several key players at the regional and global levels. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures, and collaborations to strengthen their market position and enhance their product portfolio.
Leading companies operating in the market are:
AstraZeneca, GlaxoSmithKline, Eli Lilly, Johnson & Johnson, Alkermes, Actavis Generics, Bristol-Myers Squibb, Allergen, Otsuka and Pfizer.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Neuroleptics Market Segmentation:
End User Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028 )
Product Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028 )
Disease Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2028 )
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Some essential purposes of the Neuroleptics market research report:
Vital Developments: Custom investigation provides critical improvements to the Neuroleptics market, including R&D, new item shipment, coordinated efforts, development rate, partnerships, joint efforts, and local development of rivals working in the market on a global scale and regional.
Market Characteristics: The report contains Neuroleptics market highlights, income, limit, limit utilization rate, value, net, creation rate, generation, utilization, import, trade, supply, demand, cost, part of the industry in general, CAGR, and gross margin. Likewise, the market report offers an exhaustive investigation of the elements and their most recent patterns, along with Service market fragments and subsections.
Investigative Tools: This market report incorporates the accurately considered and evaluated information of the major established players and their extension into the Neuroleptics market by methods. Systematic tools and methodologies, for example, Porter’s Five Powers Investigation, Possibilities Study, and numerous other statistical investigation methods have been used to analyze the development of the key players working in the Neuroleptics market.
Convincingly, the Neuroleptics report will give you an unmistakable perspective on every single market reality without the need to allude to some other research report or source of information. This report will provide all of you with the realities about the past, present, and eventual fate of the Neuroleptics market.
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