Psychiatric Medications Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Drug Classification (First Generation (Typical), and Second Generation (Atypical)); End Use (Schizophrenia, Bipolar Disorder, Unipolar Disorder, Dementia, and Others), and Geography
Psychiatric Medications alter behavior, mood, thoughts, or perception. It's a blanket term for various drugs, including prescription drugs and commonly misused drugs. Psychiatric Medications are used to treat various mental health issues when they cause significant hindrances to the body's healthy functioning. Psychiatric Medications usually work by changing or adjusting the number of substantial chemicals in the brain called neurotransmitters. Some psychological issues show improvement when the level of neurotransmitters (dopamine, serotonin, and norepinephrine) increases or decreases. Psychiatric Medications are typically prescribed by a psychiatrist, a psychiatric nurse practitioner (PMHNP), or a primary care physician; in some areas, clinical psychologists may have prescriptive benefits as well.
The "Global Psychiatric Medications Market Analysis to 2028" is a specialized and in-depth study of the pharmaceutical industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Psychiatric medications market with detailed market segmentation by drug classification, application, and geography. The report provides key statistics on the market status of the leading Psychiatric medications market players and offers key trends and opportunities in the market.
- Based on drug classification, the global Psychiatric medications market is segmented into first generation (typical), second generation (atypical).
- On the basis of application, the market is segmented into schizophrenia, bipolar disorder, unipolar disorder, dementia, others.
MARKET DYNAMICS Drivers:
- Rise in the incidences of Psychotic disorders.
- Rising concern of government and healthcare organizations on mental health.
- Rising investment in research and development.
- The patent expiry and addiction caused due to Psychiatric medications are the major restraining factor for this market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Psychiatric medications market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
BThe report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Psychiatric medications market in these regions.
IMPACT OF COVID-19 ON PSYCHIATRIC MEDICATIONS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The report covers key developments in the Psychiatric medications market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Psychiatric medications market are anticipated to lucrative growth opportunities in the future with the rising demand for Psychiatric medications in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Psychiatric medications market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Eli Lilly and Company
- Janssen Global Services, LLC (Johnson & Johnson)
- Allergan (AbbVie Inc.)
- Pfizer Inc.
- Mylan N.V.
- Novartis AG
- Axsome Therapeutics, Inc.
- Acadia Pharmaceuticals Inc.
- Takeda Pharmaceutical Company Limited
The Insight Partner's dediPsychiatric medicationsed research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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The List of Companies
2. Eli Lilly and Company
3. Janssen Global Services, LLC (Johnson & Johnson)
4. Allergan (AbbVie Inc.)
5. Pfizer Inc.
6. Mylan N.V.
7. Novartis AG
8. Axsome Therapeutics, Inc.
9. Acadia Pharmaceuticals Inc.
10. Takeda Pharmaceutical Company Limited
11. GlaxoSmithKline plc
12. Otsuka Pharmaceutical Co, Ltd
13. AstraZeneca plc