Global Schizophrenia Drugs Market is expected to foresee significant growth. North America to lead the growth!
- Himanshu Patni
- November 21, 2022
- Schizophrenia Drugs Market, Schizophrenia Drugs Market growth, Schizophrenia Drugs Market Share, Schizophrenia Drugs Market Size
- 0 Comments
Global schizophrenia drugs market is expected to register a CAGR of around 4% over the period of 2021-2027. Schizophrenia is a serious mental disorder in which people interpret reality abnormally. Schizophrenia can cause hallucinations, delusions, and extremely disordered thinking of thoughts and behaviors that interfere with daily functioning and can lead to disability. Schizophrenia treatment is composed of antipsychotic drugs and requires lifelong treatment even when the symptoms have subsided. Schizophrenia medicines often control the symptoms of the disorder by managing dopamine, a critical neurotransmitter. The rise in the prevalence of schizophrenia is directly impacting the demand for schizophrenia drugs across the globe. Owing to this, many research and development activities for schizophrenia drugs are ongoing by the industry players due to which there is an increase in the number of drugs in various clinical trial phases. For example, between January 2019 to March 2021, the number of schizophrenia drugs in clinical trials in phase 1 was 18, in phase 2 was 23, in phase 3 was 12, and 4 drugs were in phase 4 trials.
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Based on therapeutic class, the market is classified as the second generation, third generation, and others. Amongst therapeutic classes, the second-generation category accounted for a significant share of the market. This is mainly due to their low risk of neurological side effects as compared to first-generation schizophrenia drugs.
Based on treatment, the market is categorized into oral and injectables. Among these, the injectables is expected to witness the highest CAGR during the forecast period. Injectable schizophrenia medications, especially long-acting injections, are one of the most advanced types of treatment. Long-acting injections (LAI) often help eliminate the side effects of oral treatment of schizophrenia.
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For a better understanding of the market adoption of schizophrenia drugs market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the schizophrenia drugs industry in 2020 owing to the presence of well-established market players and the highly advanced medical care in the region.
Some of the major players operating in the market include H. Lundbeck A/S, Otsuka Pharmaceutical Co., Ltd., Janssen Pharmaceuticals Inc., Eli Lilly and Company, AstraZeneca, ALLERGAN, Vanda Pharmsaceuticals Inc., Sumitomo Dainippon Pharma Co., Ltd., Alkermes plc, Bristol-Myers Squibb Company.
Global Schizophrenia drugs Market Segmentation
Market Insight, by Therapeutic Class
- Second generation
- Third generation
Market Insight, by Treatment
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- H. Lundbeck A/S
- Otsuka Pharmaceutical Co., Ltd.
- Janssen Pharmaceuticals, Inc.
- Eli Lilly and Company
- Vanda Pharmaceuticals Inc.
- Sumitomo Dainippon Pharma Co., Ltd.
- Alkermes plc
- Bristol-Myers Squibb Company