Risperidone Market: Current Analysis and Forecast (2022-2030)
Emphasis on Route Of Administration (Injectable, Oral, Parenteral); Application (Schizophrenia, Bipolar Disorder, Irritability Associated with Autistic Disorder, Others); End-User (Hospitals, Homecare, Specialty Clinics, Ambulatory Surgical Centers, Others); Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Region/Country
The Risperidone market was valued at USD 544 million in 2022 & is expected to grow at a CAGR of 5% from 2023-2030 Risperidone is an antipsychotic medication used for the treatment of various mental health disorders. The Risperidone market refers to the global market for this specific pharmaceutical product. The Risperidone market encompasses the production, distribution, and sales of Risperidone-based medications by pharmaceutical companies. It includes both brand-name versions and generic formulations of Risperidone. The market involves various stakeholders, including pharmaceutical manufacturers, wholesalers, retailers, and healthcare providers. The growing demand for risperidone can be attributed to the prevalence of mental health disorders around the globe. For instance, according to Johns Hopkins.org, Approximately 9.5% of American adults ages 18 and over, will suffer from a depressive illness (major depression, bipolar disorder, or dysthymia) each year. Owing to the glaring statistics growing mental stress and disorders across the globe would contribute to the growth of the market in the forthcoming period as well. Furthermore, the risperidone market is anticipated to grow on account of Innovations in drug delivery systems, such as extended-release formulations or novel administration methods, which can enhance patient compliance and convenience. Moreover, Growing awareness about mental health issues and improved diagnostic capabilities contribute to the demand for Risperidone. However, some of the restraints in the market including the off-label prescribing and alternative and side effects of medicine are impeding the growth of this market all over the world.
Some of the major players operating in the market include Otsuka Pharmaceutical Co., Ltd; Allergan; Dr. Reddy’s Laboratories Ltd; Pfizer Inc; Endo International plc; Teva Pharmaceutical Industries Ltd; Sun Pharmaceutical Industries Ltd; Mylan N.V.; Novartis AG; Lupin. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst route of administration, the oral segment held a significant share of the market in 2021.”
Based on the route of administration, the market is segmented into injectable, oral, and parenteral. Among them, the oral segment captured a significant share of the market in 2021. the oral route of administration is generally more convenient and familiar to patients compared to other routes such as injections or transdermal patches. Oral medications can be easily self-administered, allowing for better patient compliance and adherence to the prescribed treatment regimen
“Amongst application, the schizophrenia segment held the higher CAGR in the market in 2021.”
Based on the application, the market is bifurcated into, bipolar disorder, irritability associated with autistic disorder and others. Among them, the schizophrenia segment is expected to grow at a higher CAGR in the market. Schizophrenia is a chronic and severe mental disorder that affects a significant number of individuals worldwide. The high prevalence of schizophrenia contributes to a larger patient population in need of treatment, leading to increased demand for Risperidone and driving the growth of the market.
“North America dominated the Risperidone market in 2021.”
North America, particularly the United States, is a hub for biotechnology and pharmaceutical research. North America has a significant prevalence of mental health disorders, including schizophrenia, bipolar disorder, and autism spectrum disorders. The high patient population drives the demand for Risperidone-based medications in the region. North America has well-established regulatory frameworks and guidelines for pharmaceutical products, including Risperidone. This favorable regulatory environment facilitates market entry, drug approval processes, and reimbursement, encouraging the growth of the Risperidone market. The region is known for its advancements in healthcare technology and digital health solutions. The integration of technology in mental healthcare, such as telemedicine and remote patient monitoring, improves accessibility and patient engagement in Risperidone treatment. For instance, In 2021, Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson, received U.S. Food and Drug Administration (FDA) approval for a new long-acting injectable formulation of Risperidone called Perseris. This development provides an extended-release option for patients with schizophrenia, offering a once-monthly dosing regimen.
Risperidone Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Risperidone market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Risperidone Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Risperidone market were the three major steps undertaken to create and analyze the adoption of Risperidone in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Risperidone market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Risperidone market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Risperidone market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as the route of administration, application, end-users, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Risperidone market. Further, we conducted factor analysis using dependent and independent variables such as route of administration, application, end-users, and distribution channel of the risperidone market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Risperidone market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Risperidone market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Risperidone market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Risperidone market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global risperidone market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the route of administration, application, end-users, and distribution channel in the global Risperidone market.
The main objective of the Global Risperidone Market Study
The current & future market trends of the global Risperidone market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Risperidone market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the route of administration, application, end-users, and distribution channel
- Define and analysis of the regulatory framework for the Risperidone industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Risperidone market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Risperidone market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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