Long Acting Injectable (LAI) Antipsychotics Market Size 2031

Report Description

The Global Long-Acting Injectable (LAI) Antipsychotics Market size was USD XX Million in 2022 and is estimated to reach USD XX Million by 2031, expanding at a CAGR of XX% during, 2023–2031. Awareness about advanced medicine is rising among the population, which is expected to fuel the market. Long-acting injectable (LAI) antipsychotics aid in the treatment of schizophrenia.

This method reduces the risk of symptom relapse, hospitalization, and other adverse effects due to nonadherence to antipsychotic medication. These antipsychotics improve symptoms the same way as daily pills. Schizophrenia is a severe mental disorder that affects the way a person perceives reality, thinks, and expresses emotions. Patients forget to take medicine or quit their doses.

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In that case, long-lasting drugs are able to curb this symptom. Doctors prescribed long-acting injectables to help patients stick with their treatment plan. LAI antipsychotics are administered by injection at two to four-week intervals. These medicines stay in the patient’s body for weeks. LAI is injected into the patient’s upper arm or buttocks.

Aripiprazole, Aripiprazole lauroxil, Fluphenazine, Haloperidol, Olanzapine pamoate, Paliperidone, and Risperidone are some examples of long-lasting injectable form of antipsychotic drugs. Typical antipsychotics and atypical antipsychotics are types of medications to treat schizophrenia. Typical antipsychotics are known as first-generation antipsychotics, which block dopamine.

Dopamine is used by the brain for cell-to-cell communication. Atypical antipsychotics are known as second-generation antipsychotics, they block serotonin and dopamine. Similar to dopamine, serotonin is a key communication chemical for the brain. Some drugs have severe side effects, which require constant blood monitoring to keep people safe.

Therefore, healthcare providers generally suggest other antipsychotics first. Clozapine is an effective medication that treats severe symptoms of schizophrenia. It has rare serious side effects; thus, it is not initially recommended.

Schizophrenia requires lifelong treatment even when the symptoms subside. Schizophrenia medicine reduces psychotic symptoms by managing dopamine, a critical neurotransmitter. If schizophrenia patients stick to their treatment through regular counselling, they are able to avoid a relapse or the need for hospitalization. Some patients are pursue the treatment with their daily medicine.

The research report finds that the COVID-19 pandemic hampered several industries and the lifestyle of people. Lockdowns were implemented in several countries to stop the outbreak of the COVID-19 pandemic, however, these resulted in psychological distress for some people. Major players in the healthcare industry focus on COVID-19-related and lifesaving product launches due to the pandemic situation.

Clinical trials were postponed to control the spread of COVID-19, which slowed down the drug development process. Moreover, general surgeries and appointments were put on hold during the outbreak of COVID-19. Therefore, the demand for related treatment and equipment declined and several organizations face challenges such as payment delays and inconsistencies in the demand-supply ratio.

Long-Acting Injectable (LAI) Antipsychotics Market Dynamics

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Major Drivers

Long-acting drugs solve the problem of having to take medicine every. A patient has to visit the hospital for a prescribed shot and it is easy for the doctor to know whether the patient following the treatment or not. A study from the University of California Los Angeles (UCLA) recommends that people with schizophrenia benefit from long-acting medications.

Rising need for effective treatment outcomes and advanced medicine is likely to boost the market. Several long-acting injectable antipsychotic drugs for schizophrenia receive approval from the Food and Drug Administration (FDA) and thus, key market players are focusing on the development of this form of the drug. This type of schizophrenia drug is able to reduce the number of relapses and prevent non-adherence to drugs by the patients.

Long-acting injectable antipsychotic drugs stay in the body for a prolonged period and offer high efficiency. In July 2018, the FDA approved an antipsychotic drug for schizophrenia treatment, called Perseris, from a global pharmaceutical company, Indivior PLC. Perseris is an extended-release injectable suspension of risperidone.

Existing Restraints

Rising awareness about the side-effects of LAI antipsychotics is anticipated to hamper the market. Delirium sedation syndrome affects some of the patients after taking olanzapine pamoate, a long-acting medicine. It causes movements, confusion, and dizziness, it generally happens within an hour of getting a shot. Antipsychotic medicine causes blurred vision, rapid heartbeat, and muscle shakiness or stiffness.

A schizophrenia patient needs to visit a doctor or hospital to get shots, which is not as simple as taking a pill at home. Patient with schizophrenia is expected to feel some pain during or after each shot similar to any injection. Patients need to take appointments and ensure to visit the hospital and go home safely.

Emerging Opportunities

Growing research and development in the pharmaceutical industry is expected to create lucrative opportunities for market players in the coming years. Long-term use of certain drugs can have negative effects on human health. Thus, market players are focusing on minimizing the side effects of some medicine by conducting research & development activities.

Scope of Long-Acting Injectable (LAI) Antipsychotics Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Long-Acting Injectable (LAI) Antipsychotics Market Segment Insights

Distribution Channel Segment Analysis

Based on distribution channel, the market is segmented into hospital pharmacies, online pharmacies, retail pharmacies, and others. The hospital pharmacies segment is projected to register at a considerable share of the market in the coming years, owing to the presence of psychiatrists who continue to practice in hospitals. Hospital pharmacies ensure the availability of the required medicines at the required time and affordable cost.

The online pharmacies segment is expected to hold a substantial CAGR during the forecast period, due to the ease of ordering prescriptions from the convenience of homes and increasing usage of the Internet. Several pharmacies keep huge data of customers and it offers privacy and secrecy.

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Regional Analysis

In terms of region, the global long-acting injectable (LAI) antipsychotics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, owing to the adoption of advanced medicine in the region.

The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to the rising awareness regarding mental health. Several organizations and healthcare professionals in Japan, India, and China are focusing on product launches and taking part in the efficient administration of schizophrenia.

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