Schizophrenia Drugs Market size is projected to reach US$ 9.46 Billion by 2030. Schizophrenia is a complex, chronic mental health disorder characterized by various symptoms, including delusions, hallucinations, disorganized speech or behavior, and impaired cognitive ability. The early onset of the disease, along with its chronic course, makes it a disabling disorder for many patients and their families. Disability often results from negative and cognitive symptoms, such as attention, working memory, or executive function impairments. In addition, relapse may occur because of positive signs, such as suspiciousness, delusions, and hallucinations. The inherent heterogeneity of schizophrenia has resulted in a lack of consensus regarding the disorder's diagnostic criteria, aetiology, and pathophysiology.
Treatment of schizophrenia has been in recent decades as many patients have switched from first-generation and typical antipsychotics to second- and third-generation drugs, also known as atypical antipsychotics. Second-generation and third-generation antipsychotics are preferred because of the severe side effects of first-generation medications, such as rigidity, bradykinesia, dystonia, tremor, and akathisia. Owing to this, industry players are focusing on launching new 2nd and 3rd-generation atypical antipsychotic drugs in the market to expand their product portfolio, which in turn is leading to an increase in no. of FDA approvals.
Schizophrenia Drugs Market will expand with a CAGR of 3.51% during 2023-2030
For instance, schizophrenia affects 24 million human beings worldwide, according to the World Health Organization, in 2022. This range is possibly to preserve to increase, along with growth within the ageing populace. According to the United Nations, the global geriatric population is increasing swiftly. In 2020, approximately 727 million human beings elderly 65 or older lived worldwide, about 9.3% of the global population. Furthermore, it's far predicted that there might be 1.5 billion people aged 65 years or above globally by 2050. Additionally, the American Psychiatric Association and the National Institute of Mental Health estimated that the risk of a person having schizophrenia in some time in the future in their lifestyle is between 0.3% and 0.7%.
The growing incidences of mental illnesses due to genetic tendencies, particular chemical imbalances in the mind, substance abuse, and psychosocial variables are the major driver of the global schizophrenia drugs market. In addition, government bodies and NGOs' increasing investments in digitally and telecommunication solutions to promote self-care and mental fitness attention further bolstered the market increase. Moreover, the rising popularity of injectable based schizophrenia drugs, specifically long-acting injectable, owing to their associated benefits, including effective long-term relapse prevention, improved patient compliance, ease of administration, and fewer adverse consequences compared to oral remedies, is also creating a tremendous outlook for the market.
Additionally, the escalating utilization of high-content single-cell screenings to expand efficacious compounds for brand spanking new schizophrenia drugs similarly augments the market boom. They are cost-effective and time-saving options for introducing modern medicines that can be supplied to small-scale clinics and other healthcare carriers using this treatment repurposing strategy. The inflating demand for novel tablets with expanded efficacy without adverse reactions on the person's safety and well-being is predicted to pressure the schizophrenia market inside the coming years. Besides this, several key players are investing extensively in growing 2nd generation antipsychotics, such as serotonin and histamine, to prevent amphetamine-induced behavioural changes in patients. Worldwide Schizophrenia Drugs Market becomes US$ 7.43 Billion in 2023.
The China market is expected to grow significantly over the forecast period, primarily due to the increasing number of people affected by schizophrenia and related disorders. This is further compounded by the fact that the geriatric population, who are more susceptible to late-onset schizophrenia, is also on the rise. As a result, the demand for effective treatments and therapies is expected to increase, thereby driving the growth of the market. Increasing healthcare investments, research projects, and improving access to healthcare services are accelerating market growth. Pharmaceutical corporations also focus on growing and advertising innovative medicines for schizophrenia treatment. As a result, the Chinese schizophrenia drugs market is poised for sustained expansion, providing better alternatives and improved care of people stricken by this complex circumstance.
This latest report “Schizophrenia Drugs Market, By Class ( Second Generation, Third Generation& Others), Treatment Market Analysis (Oral, Injection), End-User (Hospital, Retails, Online), Region (North America (United States & Canada), South America (Brazil & Mexico), Europe (United Kingdom, Germany, France, Italy, Spain, & Netherlands), Asia Pacific (China, Japan, India, South Korea & Australia) Middle East & Africa (South Africa & UAE), Rest of the World), Companies (H Lundbeck, Pfizer Inc, AbbVie, AstraZeneca, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Takeda Pharmaceuticals & Novartis AG)” provides a detailed analysis of Schizophrenia Drugs Industry.
2. Third Generation
3. Others
2. Injectable
2. Retail Pharmacies
3. Online Pharmacies
1.1 United States
1.2 Canada
2. South America
2.1 Brazil
2.2 Mexico
3. Europe
3.1 United Kingdom
3.2 Germany
3.3 France
3.4 Italy
3.5 Spain
3.6 Netherlands
4. Asia Pacific
4.1 China
4.2 Japan
4.3 India
4.4 South Korea
4.5 Australia
5. Middle East & Africa
5.1 South Africa
5.2 UAE
6. Rest of the World
2. Pfizer Inc
3. AbbVie
4. AstraZeneca
5. Bristol Myers Squibb
6. Eli Lilly
7. GlaxoSmithKline
8. Johnson & Johnson
9. Takeda Pharmaceuticals
10. Novartis AG
Treatment of schizophrenia has been in recent decades as many patients have switched from first-generation and typical antipsychotics to second- and third-generation drugs, also known as atypical antipsychotics. Second-generation and third-generation antipsychotics are preferred because of the severe side effects of first-generation medications, such as rigidity, bradykinesia, dystonia, tremor, and akathisia. Owing to this, industry players are focusing on launching new 2nd and 3rd-generation atypical antipsychotic drugs in the market to expand their product portfolio, which in turn is leading to an increase in no. of FDA approvals.
Schizophrenia Drugs Market will expand with a CAGR of 3.51% during 2023-2030
For instance, schizophrenia affects 24 million human beings worldwide, according to the World Health Organization, in 2022. This range is possibly to preserve to increase, along with growth within the ageing populace. According to the United Nations, the global geriatric population is increasing swiftly. In 2020, approximately 727 million human beings elderly 65 or older lived worldwide, about 9.3% of the global population. Furthermore, it's far predicted that there might be 1.5 billion people aged 65 years or above globally by 2050. Additionally, the American Psychiatric Association and the National Institute of Mental Health estimated that the risk of a person having schizophrenia in some time in the future in their lifestyle is between 0.3% and 0.7%.
The growing incidences of mental illnesses due to genetic tendencies, particular chemical imbalances in the mind, substance abuse, and psychosocial variables are the major driver of the global schizophrenia drugs market. In addition, government bodies and NGOs' increasing investments in digitally and telecommunication solutions to promote self-care and mental fitness attention further bolstered the market increase. Moreover, the rising popularity of injectable based schizophrenia drugs, specifically long-acting injectable, owing to their associated benefits, including effective long-term relapse prevention, improved patient compliance, ease of administration, and fewer adverse consequences compared to oral remedies, is also creating a tremendous outlook for the market.
Additionally, the escalating utilization of high-content single-cell screenings to expand efficacious compounds for brand spanking new schizophrenia drugs similarly augments the market boom. They are cost-effective and time-saving options for introducing modern medicines that can be supplied to small-scale clinics and other healthcare carriers using this treatment repurposing strategy. The inflating demand for novel tablets with expanded efficacy without adverse reactions on the person's safety and well-being is predicted to pressure the schizophrenia market inside the coming years. Besides this, several key players are investing extensively in growing 2nd generation antipsychotics, such as serotonin and histamine, to prevent amphetamine-induced behavioural changes in patients. Worldwide Schizophrenia Drugs Market becomes US$ 7.43 Billion in 2023.
Injectable treatment segment is witnessing the fastest market growth within the Schizophrenia Drugs Market
By treatment, the Schizophrenia Drugs Market is segmented into Oral and Injectable. The injectable section is projected to seize the biggest market proportion and experience the highest increase within the forecast duration in the Schizophrenia Drugs Market. This growth can be attributed to numerous factors, such as the efficacy of injectable medicines in dealing with schizophrenia symptoms, improved patient compliance, and the improvement of long-acting injectables, which reduces dosing frequency. These advantages make injectable a preferred choice for lots of patients and healthcare vendors, contributing to their dominant role in the market for schizophrenia drugs.Second-generation segment is poised for growth in the forecast period due to increasing mental health disorders prevalence, including schizophrenia
By Therapeutic Class, the Schizophrenia Drugs Market is divided into second-generation, third-generation, and others. The Second-generation drugs are positioned for enormous growth in the coming years, primary due to the growing prevalence of mental health disorders. These drugs have validated exceptional effectiveness in dealing with the complex symptoms associated with situations like hallucinations and delusions in patients with schizophrenia. As awareness and diagnosis of mental health disorders keep to extend, the demand for Second-generation is anticipated to surge, making this section a significant player within the field of psychiatric prescribed drugs, imparting hope for improved remedy and outcomes for the ones affected from schizophrenia and associated situations.Retail Pharmacies have captured more shares in the Schizophrenia Drugs Market
By Distribution Channel, the Schizophrenia Drugs Market is classified into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. Retail pharmacies have notably secured a larger market share within the Schizophrenia Drugs Market. This trend is driven by the convenience and accessibility they offer to patients seeking prescription medications for managing schizophrenia. Retail pharmacies ensure patients receive their prescribed antipsychotic drugs promptly, promoting treatment adherence and improved symptom management. As mental health awareness grows, and with a focus on community-based care, retail pharmacies will likely continue capturing an increased market share, playing an essential role in distributing and supporting schizophrenia drugs.China Schizophrenia Drugs Market is showing good Growth
By Country, Schizophrenia Drugs Market is split into North America (United States & Canada), South America (Brazil & Mexico), Europe (United Kingdom, Germany, France, Italy, Spain, & Netherlands), Asia Pacific (China, Japan, India, South Korea & Australia) Middle East & Africa (South Africa & UAE), Rest of the World. The schizophrenia drugs market in China is experiencing enormous growth, driven by numerous key factors.The China market is expected to grow significantly over the forecast period, primarily due to the increasing number of people affected by schizophrenia and related disorders. This is further compounded by the fact that the geriatric population, who are more susceptible to late-onset schizophrenia, is also on the rise. As a result, the demand for effective treatments and therapies is expected to increase, thereby driving the growth of the market. Increasing healthcare investments, research projects, and improving access to healthcare services are accelerating market growth. Pharmaceutical corporations also focus on growing and advertising innovative medicines for schizophrenia treatment. As a result, the Chinese schizophrenia drugs market is poised for sustained expansion, providing better alternatives and improved care of people stricken by this complex circumstance.
Key Player
The some of the major market player includesHLundbeck, Pfizer Inc, AbbVie, AstraZeneca, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Takeda Pharmaceuticals& Novartis AG.This latest report “Schizophrenia Drugs Market, By Class ( Second Generation, Third Generation& Others), Treatment Market Analysis (Oral, Injection), End-User (Hospital, Retails, Online), Region (North America (United States & Canada), South America (Brazil & Mexico), Europe (United Kingdom, Germany, France, Italy, Spain, & Netherlands), Asia Pacific (China, Japan, India, South Korea & Australia) Middle East & Africa (South Africa & UAE), Rest of the World), Companies (H Lundbeck, Pfizer Inc, AbbVie, AstraZeneca, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Takeda Pharmaceuticals & Novartis AG)” provides a detailed analysis of Schizophrenia Drugs Industry.
Class - Market has been covered from 3 viewpoints:
1. Second Generation2. Third Generation
3. Others
Treatment - Market has been covered from 2 viewpoints:
1. Oral2. Injectable
End-User - Market has been covered from 3 viewpoints:
1. Hospital Pharmacies2. Retail Pharmacies
3. Online Pharmacies
Country - This report covers the 18 Countries Schizophrenia Drugs Market
1. North America1.1 United States
1.2 Canada
2. South America
2.1 Brazil
2.2 Mexico
3. Europe
3.1 United Kingdom
3.2 Germany
3.3 France
3.4 Italy
3.5 Spain
3.6 Netherlands
4. Asia Pacific
4.1 China
4.2 Japan
4.3 India
4.4 South Korea
4.5 Australia
5. Middle East & Africa
5.1 South Africa
5.2 UAE
6. Rest of the World
Company Insights:
- Overview
- Business Strategy
- Financial Insight
Company Analysis:
1. H Lundbeck2. Pfizer Inc
3. AbbVie
4. AstraZeneca
5. Bristol Myers Squibb
6. Eli Lilly
7. GlaxoSmithKline
8. Johnson & Johnson
9. Takeda Pharmaceuticals
10. Novartis AG
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary5. Global Schizophrenia Drug Market
4. Market Dynamics
6. Market Share Analysis - Global Schizophrenia Drug Market
7. Treatment - Global Schizophrenia Drug Market
8. Therapeutic Class - Global Schizophrenia Drug Market
9. Distribution Channel - Global Schizophrenia Drug Market
10. Region - Global Schizophrenia Drug Market
11. Porter Five Forces
12. SWOT Analysis
13. Company Analysis
List of Figures:
List of Tables:
Companies Mentioned
- H Lundbeck
- Pfizer Inc
- AbbVie
- AstraZeneca
- Bristol Myers Squibb
- Eli Lilly
- GlaxoSmithKline
- Johnson & Johnson
- Takeda Pharmaceuticals
- Novartis AG
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 165 |
| Published | November 2023 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 7.43 Billion |
| Forecasted Market Value ( USD | $ 9.46 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
