Frequency of mental health problems in senior citizens and the development of new technologies for drug development is expected to drive psychotropic drugs market expansion shortly at a CAGR of 3.50% during the forecast period 2023 to 2032.

Market Research Future (MRFR) has published a latest research report on the “Global Psychotropic Drugs Market” that contains information from 2018 to 2032. The Psychotropic Drugs market is estimated to register a CAGR of 3.50% during the forecast period of 2023 to 2032.

Psychotropic Drugs Market Highlights

The global Psychotropic Drugs market is accounted to register a CAGR of 3.50% during the forecast period and is estimated to reach USD 29.3025 billion by 2032.

Destigmatization and heightened awareness are driving the psychotropic drug market's compound annual growth rate (CAGR). Views on mental health in society have shifted in favor of increased awareness and de-stigmatization. The changing views have made people feel more comfortable talking about and admitting to mental health issues in public. This culture shift has made people more willing to seek psychotropic treatments without fear of stigma, encouraging a proactive approach to mental health. People who are more aware are also better able to recognize symptoms early on, which facilitates timely intervention and treatment. The landscape of psychotropic drugs is generally improved by this cultural shift, increasing the likelihood that people in need of mental health services will be able to access and benefit from it.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Psychotropic Drugs Market Research Report

Segment Analysis

The global Psychotropic Drugs market has been segmented based on Drug Type, Application, and distribution channels, Based on Drug Type, the global Psychotropic Drugs market has been segmented into Chlorpromazine, Thioridazine, Quetiapine, Risperidone, and Others. The Chlorpromazine segment was expected to hold the largest market share in 2022. The growing need for the drug chlorpromazine, which is used to treat bipolar disorder, schizophrenia, and anxiety, is propelling the global market. The demand for chlorpromazine is rising steadily because it is a positive target for symptoms of schizophrenia.

Based on Application, the global Psychotropic Drugs market has been segmented into Antidepressants, Anti-psychotics, and Mood Stabilizers (MS), Anti-anxiety (AA), Others. The Anti-depressants segment was anticipated to hold the major market share in 2022. This is a result of growing public awareness of mental health issues and the frequency of mood disorders, which is driving up demand for widely prescribed and efficacious antidepressant drugs.

Based on distribution channels, the global Psychotropic Drugs market has been segmented into Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Drug Stores. The Hospital Pharmacy segment was anticipated to hold the major market share in 2022. Hospital pharmacies are a significant player in the worldwide market and treat a large number of patients with mental health issues. Hospital pharmacies treat patients with mental health concerns by offering specialized patient care. They provide inpatient facilities to treat mental illness and enhance quality of life.

Key Players:

MRFR recognizes the following companies as the key players in the global Psychotropic Drugs market— Forest Laboratories, Sun Pharmaceutical Industries Ltd., FUJIFILM Wako Pure Chemical Corporation, Randox Laboratories Ltd, Pfizer Inc., Ely Lilly, Mylan N.V, Otsuka Pharmaceutical Co. Ltd., Alkermes Plc.

Regional Analysis

The global Psychotropic Drugs market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Psychotropic Drugs market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Psychotropic Drugs market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Psychotropic Drugs market comprises of Middle East, Africa, and Latin America.

The North American regional sector maintained the largest market share for Psychotropic Drugs. This is a result of the rising prevalence of mental health issues in the region. The rapidly developing healthcare sector in the area is another crucial factor that will help the regional market grow quickly. People's growing awareness of and willingness to talk about mental health issues will also likely present some lucrative growth opportunities in the market in the years to come.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Psychotropic Drugs is driven by because there are growing government initiatives to lower the prevalence of mental disorders in the area and since the area has favorable medical reimbursement policies

Additionally, the psychotropic drug market in Asia-Pacific is anticipated to grow at the fastest compound annual growth rate (CAGR). This is because the way of life of the locals is evolving. Future years will likely see a rise in the number of mental disorders due to increased mental stress brought on by the high rate of urbanization and widespread adoption of Western culture.

Furthermore, the rest of the world's Psychotropic Drugs market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the rising geriatric population suffering from mental disorders and growing health awareness.

Key Findings of the Study

• The global Psychotropic Drugs market is expected to reach USD 29.3025 billion by 2032, at a CAGR of 3.50% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the rising geriatric population suffering from mental disorders and growing health awareness.


• Based on Drug Type, the Chlorpromazine segment was attributed to holding the largest market in 2022, with an approximate market share of 24%.


• Forest Laboratories, Sun Pharmaceutical Industries Ltd., FUJIFILM Wako Pure Chemical Corporation, Randox Laboratories Ltd, Pfizer Inc., Ely Lilly, Mylan N.V, Otsuka Pharmaceutical Co. Ltd., Alkermes Plc.