Second Generation Antipsychotics Market to Hit USD 15.67 Bn by 2032, at a CAGR of 6.25%, says Coherent Market Insights

May 13, 2025 |

1 min read

The Global Second Generation Antipsychotics Market size was valued at US$ 10.25 Billion in 2025 and is expected to reach US$ 15.67 Billion by 2032, growing at a compound annual growth rate (CAGR) of 6.25% from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

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Global Second Generation Antipsychotics Market Key Takeaways
• As per Coherent Market Insights (CMI), the global second generation antipsychotics market size is expected to grow at a CAGR of 6.2%, reaching USD 10.25 Bn in 2025 and USD 15.67 Bn by 2032.
• Based on indication, schizophrenia segment is projected to hold more than one-third of the global second generation antipsychotics market share in 2025.
• By drug class, aripiprazole segment is set to generate a revenue of over USD 2.37 Bn in 2025.
• Based on route of administration, oral segment is expected to account for more than 2/3 of the global second generation antipsychotics market revenue share in 2025.
• North America is anticipated to remain at the top of the ladder, accounting for over 1/3 of the global market. This can be attributed to increased adoption of second generation antipsychotics.
• Coherent Market Insights’ latest second generation antipsychotics market research predicts Asia Pacific to witness fastest growth throughout the forecast period.

Rising Mental Health Challenges Spurring Market Growth
Coherent Market Insights’ latest second generation antipsychotics market report highlights key factors driving the industry’s growth. One such factor is the increasing prevalence of mental health disorders.
Conditions like schizophrenia and bipolar disorder affect millions of people globally. According to the World Health Organization (WHO), over 970 million people around the world are living with a mental disorder. This increasing burden is leading to higher demand for second generation antipsychotics.
Second-generation antipsychotics, also known as atypical antipsychotics, are commonly used to treat schizophrenia and other mental health conditions. They are favored over first-generation antipsychotics due to their high effectiveness and a lower risk of neurological side effects.

Also Read: How Rising Prevalence of Mental Health Disorders is Impacting the Mental Disorder Treatment Market Size, Share, and Growth Trajectory (2025-2032)

Side Effects and High Treatment Costs Restraining Market Growth

The future second generation antipsychotics market outlook appears optimistic. This is mainly due to rising prevalence of mental disorders like schizophrenia. However, side effects associated with SGAs and high cost of therapeutic interventions are limiting market growth to some extent.

Prolonged use of second generation antipsychotics (SGAs) can cause metabolic side effects like weight gain and diabetes. These side effects often lead to treatment discontinuation, thereby limiting the second generation antipsychotics market growth.

Second generation antipsychotics, particularly branded versions, are also expensive than conventional antipsychotics. This deters patients from opting for these medications.

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Increasing Government Initiatives Creating Growth Opportunities

Governments and healthcare organizations across the world are increasingly recognizing the burden of mental health disorders and their broader impacts. In response, they are launching various initiatives and programs aimed at improving access to mental healthcare and tackling this burden.

· For instance, Indian Government launched the ‘National Tele Mental Health Program’ (NTMHP) in 2022 to provide universal access to equitable, accessible, and quality mental health care.

· In March 2025, the World Health Organization (WHO) launched new guidelines to help nations reform and strengthen mental health policies.

Such initiatives are expected to create significant growth opportunities for manufacturers of second generation antipsychotics. They will improve access to mental health services, especially in underserved and rural regions, leading to higher sales of second generation antipsychotics.

Many countries are also witnessing a rise in public awareness campaigns aimed at educating people about the benefits of mental health and reducing stigma. This, in turn, is encouraging people to seek effective mental health treatments, including second generation antipsychotics.

Emerging Second Generation Antipsychotics Market Trends

Ø A key trend in the second generation antipsychotics is the growing popularity of long-acting injectables (LAIs). These LAIs effectively improve compliance as well as reduce relapse rates, making them ideal for treating various mental health conditions.

Ø There is a rising interest in personalized medicine, including pharmacogenomics, for mental health management. In response, companies are focusing on developing tailored antipsychotic therapies with high efficacy and minimal side effects. This will likely boost growth of the second generation antipsychotics market.

Ø Increasing adoption of biosimilars is expected to boost the second-generation antipsychotics market growth. Development and availability of more affordable biosimilar versions of off-patent second-generation antipsychotics are likely to enhance market access and improve affordability.

Ø Top second generation antipsychotic drug companies are investing heavily in research and development to create new SGAs with enhanced efficacy, safety profiles, and fewer side effects. These novel formulations will not help to address unmet needs in mental health treatment but also increase the overall second generation antipsychotics market value.

Also Read: Depression Therapeutics Market Analysis & Forecast (2025-2032)

Analyst’s View

“The second generation antipsychotics market is poised to grow steadily, driven by increasing incidence of mental health disorders, growing mental health awareness, and rising demand for more effective and safer treatments,” said senior analyst Ghanshyam Shrivastava. “Increasing government initiatives to tackle global mental disease burden are expected to open new revenue generation streams for second generation antipsychotics market companies.

Current Events and Their Impact on the Second Generation Antipsychotics Market

Event	Description and Impact
Rising Prevalence of Mental Health Disorders	Description: There is a spike in cases of schizophrenia, bipolar disorder, and other mental health conditions globally. Impact: Rising incidence of these mental health issues will drive demand for second generation antipsychotic drugs.
Technology Advancements	Description: Companies are striving to develop novel drug delivery systems. Impact: New drug delivery systems will improve patient compliance and treatment outcomes.
Increasing Government Initiatives	Description: Governments worldwide are launching new initiatives and programs to improve mental healthcare access. Impact: This will play in key role in driving second generation antipsychotics market demand in the coming years.

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Competitor Insights

Key companies in second generation antipsychotics market report include:

- AstraZeneca

- Johnson & Johnson

- AbbVie

- Novartis

- Eli Lilly and Company

- GlaxoSmithKline

- Bristol-Myers Squibb

- Merck & Co.

- Takeda Pharmaceutical

- Pfizer

- Otsuka Pharmaceutical

- Lundbeck

- Alkermes

- Sanofi

- Amgen

Key Developments

· In May 2025, Newron Pharmaceuticals S.p.A. announced approval for its pivotal Phase III ENIGMA-TRS program, evaluating evenamide as an add-on therapy for patients with treatment-resistant schizophrenia (TRS).

· In October 2024, AbbVie and Gedeon Richter collaborated on the discovery and development of new targets for neuropsychiatric conditions. The aim of this collaboration is to create advanced mental health treatments to address the unmet needs of people with neuropsychiatric disorders.

· In April 2024, the U.S. FDA approved Cobenfy, a combination of trospium chloride and xanomeline capsules, for the treatment of schizophrenia in adults. This marks the first oral antipsychotic medication approved for schizophrenia that specifically targets cholinergic receptors.

Also Read: Bipolar Disorder Treatment Market Size, Share & Trends Report (2025-2032)

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