Psychotherapeutic drugs market is comprised of drugs which are used to treat mental illnesses such as confused thinking, extreme mood swings, long lasting depression, social withdrawal and suicidal thought. Commonly found mental disorders are schizophrenia, bipolar disorder, anxiety and depression. Schizophrenia is a mental disease associated with hearing voices, unorganized speech and broken thoughts. Depression is a common disorder characterized by lack of confidence, pleasure and interest.
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The global psychotherapeutic drugs market is growing worldwide due to high prevalence of emotional and mental diseases. According to WHO report approximately 350 million people are suffering from depression and around 24 million people are affected by schizophrenia around the world as of today. Patent expiration of top psychotic drugs Prozac, Geodon and Zyprexia has opened way for generic manufacturers and it is expected that in coming years generic segment will rise dramatically and will give rise price competition in the psychotherapeutic drugs market.
America has been the largest market accounting for more than 40% of the total psychotherapeutic drugs market owing to high incidences of schizophrenia and depression among baby boomers. It is predicted that the market will witness rapid growth in Asia-Pacific under the influence of changing life style, disease awareness and growing aging population.
The key players operating in this market are Eli Lilly, Bristol-Meyer Squibb, GlaxoSmithKline, Pfizer, Astrazeneca, Astellas Pharma Inc., Wyeth and Johnson & Johnson.
This research report analyzes this market depending on its market segments,major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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