What is Psychotropic Drug Market?
A psychotropic drug is any drug that affects behavior, mood, thoughts, or perception. It is used to treat a variety of mental health issues when those issues cause significant impairment to healthy functioning. These drugs are a broad category of drugs that treat many different conditions. There are five major classes of legal psychotropic medications, anti-anxiety agents, antidepressants, antipsychotics, mood stabilizers and stimulants.
Highlights from Psychotropic Drug Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Intas Pharmaceuticals Ltd. (India), Sun Pharmaceutical Industries Ltd. (India), Cadila Pharmaceuticals (India), Abbott Laboratories (United States), Sanofi S.A. (France), Cipla Limited (India), Biocon Limited (India), Lupin Limited (India), Emcure Pharmaceuticals Ltd. (India) and Novartis International AG (Switzerland) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Research Analyst at AMA predicts that Indian Players will contribute to the maximum growth of Global Psychotropic Drug market throughout the forecasted period.
Intas Pharmaceuticals Ltd. (India), Sun Pharmaceutical Industries Ltd. (India), Cadila Pharmaceuticals (India), Abbott Laboratories (United States), Sanofi S.A. (France), Cipla Limited (India), Biocon Limited (India), Lupin Limited (India), Emcure Pharmaceuticals Ltd. (India) and Novartis International AG (Switzerland) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Dr. Reddy’s Laboratories Limited (India) and Alkem Laboratories Limited (India). Psychotropic Drug Market Segmentation:
Scope | Sub-Segments |
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End-users | Hospitals,Clinics,Others |
Distribution Channel | Hospital pharmacies,Drug Stores,Retail Stores,E-Commerce |
Drug Class | Anti-Depressants,Anti-Psychotics,Stimulants,Anxiolytics,Mood Stabilizers |
On the basis of geography, the market of Psychotropic Drug has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Research and Development Activities
Market Growth Drivers:
Increased Prevalence of Psychotic Disorders and Increased Health Care Expenditure
Challenges:
Stringent Government Rules Regulations
Restraints:
High Cost of Advanced Treatments and Misuse of Psychoactive Drugs
Opportunities:
Growth in the Healthcare Industry Worldwide and Increasing Health Awareness Among People
Key Target Audience
Psychotropic Drug Manufacturers, Emerging Companies, Research Professionals and End-users