The Expanding Market for Psychotherapeutic Drugs
The global market for psychotherapeutic drugs reached $32.3 billion in 2002.
By 2007, the market will be around $44.9 billion, at an average annual growth rate (AAGR) of 6.8%.
The U.S. market will grow at an AAGR of 7% from $20.8 billion in 2002 to $29 billion in 2007.
The majority of sales of central nervous system psychotherapeutic drugs were garnered from the seven major markets, i.e., the U.S., France, Germany, Italy, Spain, the U.K. and Japan.
There are significant unmet needs in the area of psychotherapeutics, and the demand is growing. Because in-depth study of the workings of the brain is a fairly new area of intense research, there are new and changing theories. The discovery of new mechanisms and chemicals in the brain has provided additional avenues for the research and development of products that may alter the course, or modify the outcome of mental diseases. This represents an extraordinary opportunity for the pharmaceutical industry, the companies of which are developing new products that will offer fewer side effects, better efficacy and more convenient dosing. They also are revisiting products that already are established on the market in hopes of expanding the indications and increasing use.
This comprehensive BCC report provides an in-depth look at the fascinating world of mental health. The geographic scope of the study is global with an emphasis on the United States. It identifies the different disorders in mental health, gives an explanation of these disorders, and cites incidence. It identifies the following specific drug types: depressants and antianxiety, antidepressants, antimanic, antipsychotic, stimulants, cholinesterase inhibitor and miscellaneous Alzheimer treatments, and substance abuse treatments. The analysis describes the industry in detail, its relationship to the healthcare industry and healthcare reform, its participants, and its trends.
Because of the rapidly evolving climate of brain disorders, fueling the demand for new and better compounds, manufacturers have increased the pace of research and development for psychotherapeutic products. These companies must remain ever vigilant of the changing environment, and strive to keep abreast of current and potential opportunities. This timely analysis will be invaluable, therefore, to decision-making management, directors of marketing, new developers, strategic planners, and research directors in the pharmaceutical and healthcare industries.
SCOPE OF STUDY
The report includes:
- Identification of mental disorders and incidence
- Current treatments
- Markets by product type and size, with forecasts through 2007
- Market drivers and future trends
- Market participants and their market shares
- Potential treatments in research and development.
METHODOLOGY AND INFORMATION SOURCES
The information and analysis presented in this BCC report are based on extensive first-hand interviews with primary executives, product managers, clinical specialists and doctors involved in mental health and psychotherapeutics. Industry experts' perspectives as well as company reports were used in the market analysis. Background information was obtained from various government, , medical journal and trade magazines. Key information from published literature was used to conduct interviews with over 85 industry participants to validate and obtain expert opinions on current and future trends. Interviews were also used to confirm and /or adjust market size and market share estimates, as well as formulating market projections.
Mary Anne Crandall is a Medical Analyst specializing in the pharmaceutical industry for the last 10 years. She has completed several in-depth studies on various medical topics requiring both great medical expertise and excellent knowledge of the industry. Ms. Crandall has a B.S. in psychology and is an RN/Instructor at a prestigious university. The author is currently pursuing a M.S. in psychology.
- The market for psychotherapeutic drugs represents the third-largest therapeutic category in terms of worldwide sales and was estimated at just under $20 billion in 2000. This therapeutic sector is characterized by fewer products in relation to the dollar size of the market than are the leading therapeutic categories, cardiovascular treatments and anti-infective agents. The market comprises less than 3 dozen drugs with sales over $50 million; nearly 30 of these products had sales exceeding $100 million and nine had sales exceeding $500 million.
- The leading company in the psychotherapeutic drug sector is Eli Lilly, which holds about 30% of the market with two products-the antidepressant Prozac and the antipsychotic Zyprexa. Other leading competitors in the market are Pfizer, SmithKline Beecham, Novartis, Johnson & Johnson and Pharmacia & Upjohn.