The Neuropsychiatric Drugs Market is expected to grow at a 4.5 % CAGR during the forecast period for 2023-2031.
Neuropsychiatric disorders are psychological disorder occur owing to a functional disturbance in the cerebral system. According to the National Institutes of Health, Neuropsychiatric disorders are one of the top 10 leading causes of global disability-adjusted life years (DALYs). The neuropsychiatry is concerned with illnesses of behavior and cognition that arise from evident disorder in cerebral function or indirect effects of the extracerebral disease. Among people age more than 65, neuropsychiatric is the most common disorder. The rising prevalence of neuropsychiatric disorders globally and rising demand for advanced treatment are some of the key factors propelling the growth of the neuropsychiatric drugs market.
Psychiatric and neurological disorders are progressively important in society, mainly due to growing incidence rates of these disorders in adolescents and children and demographic changes. According to Leibniz Institute for Prevention Research and Epidemiology – BIPS, in 2015, about 38% of EU citizens, that is 165 million, suffered from a minimum of one disease from the neuropsychiatric range. Neuropsychiatric diseases are the key cause of impairment and disability of quality of life and capability to function. In Europe, more than 42% of years spent with a disability are attributed to neuropsychiatric disorders.
The Global Neuropsychiatric Drugs Market has a marvelous opportunity to grow during the estimated timeframe. The growing research and development activities for the development of novel treatment for neuropsychiatric disorders and the presence of a strong pipeline of these drugs are expected to propel the demand for neuropsychiatric disorder drugs during the forecast period. For instance, in January 2020, a clinical-stage biopharmaceutical company BlackThorn Therapeutics focused on evolving targeted drugs for the treatment of central nervous system (CNS) disorders has announced the progression of Phase 2 clinical trial for its BTRX-335140 (BTRX-140), a selective antagonist for the kappa opioid receptor (KOR). The introduction of advanced medicines for the treatment of neuropsychiatric disorders is estimated to propel the global demand for these drugs in the coming years. Additionally, the growing demand for cost-effective drugs for neuropsychiatric disorders is expected to boost the demand for neuropsychiatric drugs during the forecast period. However, side effects such as blurred vision, drowsiness, and insomnia caused by these drugs may restrain the growth of the neuropsychiatric drugs market during the forecast period.
Market Segmentation
The Global Neuropsychiatric Drugs Market is segmented on the basis of drug type, indication, route of administration, and region. Based on the drug type, the market is divided into typical antipsychotics, and atypical antipsychotics. The typical antipsychotics include, Prochlorperazine, Haloperidol, and other drugs. Based on atypical antipsychotics, the market is segmented into, Aripiprazole, Asenapine, Cariprazine, Clozapine, Lurasidone, Olanzapine, Risperidone, and other drugs. On the basis of indication, the market is categorized into bipolar disorder, schizophrenia, psychotic depression, and others. By route of administration, the neuropsychiatric drugs market is segmented into parenteral and oral route. Based on region, the market is studied across Asia-Pacific, North America, LAMEA, and Europe. Among that, North America held the largest share of the market, followed by Europe in 2019. In terms of growth rate, Asia Pacific is expected to grow at a significant CAGR during the estimated timeframe.
Competitive Landscape
Some of The Key Players in The Neuropsychiatric Drugs Market:
- Novartis
- Pfizer
- Otsuka
- Allergan
- Eli Lilly
- Sunovion
- AstraZeneca
- Actavis Laboratories
- Johnson & Johnson
- Bristol Myers Squibb
- Sage Therapeutics
- BlackThorn Therapeutics
- BioXcel Therapeutics
- Lundbck A/S
- Takeda
- Cerevel Therapeutics, LLC
- INmune Bio
- Perception Neuroscience
- Psilera Bioscience
- Eleusis Holdings Ltd
- Other Prominent Players
The Neuropsychiatric Drugs Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 4.5 % from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Drug Type, By Indication, By Route of Administration |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Novartis, Pfizer, Otsuka, Allergan, Eli Lilly, Sunovion, AstraZeneca, Actavis Laboratories, Johnson & Johnson, and Bristol Myers, Sage Therapeutics, BlackThorn Therapeutics, H. Lundbeck A/S, Takeda, Cerevel Therapeutics, LLC, among others |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
