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( MENAFN - Evertise Digital) -< /> The Antipsychotic Drugs Market , valued at USD 14.93 billion in 2023, is expected to reach USD 28.04 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 8.

2% from 2024 to 2031. Mental Health Concerns Drive Antipsychotic Drug Market A significant factor driving the antipsychotic drug market is the global rise in mental health disorders. According to the World Health Organization (WHO), a staggering 55 million people worldwide have dementia, with a staggering 60% residing in low and middle-income countries.



Even more concerning, the WHO reports nearly 10 million new dementia cases diagnosed globally each year. These alarming statistics highlight the growing need for effective treatments. Furthermore, the WHO's increased focus on addressing dementia and a growing public awareness of mental health issues are fueling demand for antipsychotic medications, propelling market growth.

Depression is another major contributor, with WHO data from February 2021 revealing it affects over 280 million people globally. This high prevalence of mental health disorders is creating a significant and sustained demand for antipsychotic drugs throughout the forecast period. Download Free Sample Report of Antipsychotic Drugs Market @ Innovation Fuels Market Expansion The antipsychotic drug market is further bolstered by advancements in research and development (R&D).

The introduction of novel drug molecules offers new treatment options for patients. F.

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