Antipsychotic drugs, also known as neuroleptics or major tranquilizers, are a class of medication primarily used to manage psychotic symptoms such as those experienced in schizophrenia, bipolar disorder and other psychotic disorders. Antipsychotics are effective in suppressing psychotic symptoms by blocking the effects of dopamine, an important neurotransmitter involved in schizophrenia. With about 1% of the world's population suffering from schizophrenia, the need for effective treatment of this debilitating mental disorder is urgent.

The global Antipsychotic Drugs Market is estimated to be valued at US$ 16.5 billion in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The opportunity to treat schizophrenia presents a major market opportunity for antipsychotic drugs. Schizophrenia is a chronic and severe mental disorder that affects how a person thinks, feels, and behaves. Positive symptoms include hallucinations, delusions and thought disorders while negative symptoms include flattened affect and emotional withdrawal. Currently available antipsychotic drugs have revolutionized the treatment of schizophrenia, improving psychotic symptoms and enabling many patients to better function in society. However, the treatment remains a lifelong effort and constant innovation is needed to develop more effective and safer drugs. The large schizophrenia patient pool worldwide represents a huge potential market for new and improved antipsychotic treatments.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in this market due to high capital requirements and existence of stringent regulations for drug approval. The market also has high costs related to R&D, clinical trials, and manufacturing.
Bargaining power of buyers: The bargaining power of buyers is high as the market has large pharmaceutical customers and buying centers. Buyers can negotiate for better prices and demand high quality standards from suppliers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers of raw materials available and suppliers do not hold a major share of control over the industry.
Threat of new substitutes: The threat of substitutes is low as antipsychotic drugs have limited substitutes for treatment of mental health conditions like schizophrenia and bipolar disorder. However, alternative treatment therapies can be a potential threat.
Competitive rivalry: The competitive rivalry in the market is high among key players like Johnson & Johnson, Bristol-Myers Squibb, Otsuka Pharmaceutical, AstraZeneca, and Eli Lilly due to intense competition.

SWOT Analysis
Strengths: The antipsychotic drugs market exhibits a large patient pool suffering from mental health conditions. There is growing awareness about mental health issues and supporting government funding and insurance policies.
Weaknesses: Antipsychotic drugs face side effects issues which reduces patient compliance. High R&D costs and drug development challenges are weaknesses.
Opportunities: Opportunities lie in developing oral thin-film versions, long-acting injections, and drugs targeting new therapeutic areas. Growing geriatric population also provides opportunities.
Threats: Patent expiries of blockbuster drugs, pricing pressures, and stringent regulations for new drug approvals are threats. Alternative treatment therapies can reduce dependence on drugs.

Key Takeaways
The global antipsychotic drugs market is expected to witness high growth over the forecast period of 2023 to 2030. The global Antipsychotic Drugs Market is estimated to be valued at US$ 16.5 billion in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period