Psychotherapeutic drugs are used to treat mental illnesses such as extreme mood swings, social withdrawal, long lasting depression, confused thinking, and suicidal thought. schizophrenia, bipolar disorder, anxiety and depression are commonly found mental disorders. Globally, development of advance and efficient technology, rising incidences of emotional and mental diseases, rise in the awareness among people regarding psychotherapeutic drugs, increasing focus on research and development process, and growth in incidences of mental disorders such as schizophrenia and bipolar disorder are the prime growth drivers of psychotherapeutic drugs market. In addition, increase in adoption of psychotherapeutic drugs in emerging economies such as China, India and others, will create new opportunities for psychotherapeutic drugs market. However, higher cost of the research and development, risk of harmful side effects and complex government approval processes are the key restraints for psychotherapeutic drugs market.
Geographically North America dominated psychotherapeutic drugs market with approximately half of the market share, because of higher prevalence rate of schizophrenia and depression among baby boomers, high medical reimbursement facilities, and technological advancement. Asia Pacific is projected to have fastest growth, owing to rapidly increasing aging population, rise in consumer awareness, favourable government policies, modernization of healthcare infrastructure, and growing population schizophrenia and bipolar disorder patient in developing nations such as China, and India in this region. Among all the therapeutic classes, antipsychotic has the highest market share in psychotherapeutic drugs market due to higher prevalence of mental disorders patients.
This report identifies the global psychotherapeutic drugs market size in for the year 2014-2016, and forecast of the same for year 2021. It also highlights the market drivers, restraints, growth indicators, challenges, and other key aspects with respect to global psychotherapeutic drugs market.
This report segments psychotherapeutic drugs market on the basis of therapeutic classes, and regional market as follows:
- Psychotherapeutic Drugs Market, By Therapeutic Classes: Antipsychotics, Antidepressants, Antimaniacs, and Anxiety Drugs
- This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region
This report identifies all the major companies operating in the psychotherapeutic drugs market. Some of the major companies’ profiles in detail are as follows:
- Eli Lilly & Company
- Abbott Laboratories
- Bristol-Meyer Squibb
- Astellas Pharma Inc.
- Pfizer Inc.