Olanzapine Market By Application (Schizophrenia, Bipolar Disorder, Others), By Route of Administration (Oral, Parenteral), By Distribution Channel (Hospital Pharmacies, Drug stores and Retail Pharmacies, Online Providers): Global Opportunity Analysis and Industry Forecast, 2021-2031
Olanzapine is an atypical antipsychotic drug, primarily used to treat schizophrenia and bipolar disorder. It is available in the form of a tablet, injectable, and a disintegrating tablet. It balances dopamine and serotonin to enhance cognition, mood, and behavior. Olanzapine is used to treat the symptoms of schizophrenia, which is a mental condition that causes disturbed or strange thinking, loss of interest in life, and strong or inappropriate emotions, in adults and teenagers 13 years of age and older. It is also used to treat bipolar disorder, which is a manic-depressive disorder, a condition that produces episodes of mania, sadness, and other abnormal moods, in adults and adolescents 13 years of age and older.
World Health Organization (WHO) has recommended mental health action plan to promote mental health and prevent mental disorders in the member states. In addition, according to the key facts published by the WHO, an estimated 300 million people are affected by depression, and 60 million people are affected by bipolar disorder, across the globe. Anxiety disorders are the most communal psychiatric illnesses affecting children and adults. It is evaluated that 44 million American grown-ups experience ill effects of uneasiness issue. Merely, about one-third of those suffering from an anxiety disorder receive treatment, even though the disorders are highly treatable. Therefore, it is indicated that the market is majorly driven by rise in prevalence of mental disorders.
The growth of global olanzapine market is majorly driven by rise in prevalence of schizophrenia globally. For instance, in January 2022, according to World Health Organization (WHO), schizophrenia affects approximately 24 million people or 1 in 300 people (0.32%) globally. In addition, increase in cases of Hospital Acquired Infections (HAI), owing to lack of sanitation and preventive measures, is a major factor responsible for the market growth. Furthermore, rise in the number of mental disorder clinics and improvement in healthcare infrastructure further contribute in the market growth. However, high cost of olanzapine and side effects of olanzapine hinder the market growth. Conversely, rise in product approvals for olanzapine in market by key players and high growth potential in developing economies are anticipated to provide lucrative opportunities to the market players. For instance, in June 2021, Alkermes plc., a global biopharmaceutical company, received U.S. Food and Drug Administration (FDA) for its LYBALVI (olanzapine and samidorphan) for the treatment of adults with schizophrenia and for the treatment of adults with bipolar I disorder, as a maintenance monotherapy or for the acute treatment of manic or mixed episodes, as monotherapy or an adjunct to lithium or valproate.
The olanzapine market is segmented into application, route of administration, distribution channel, and region. On the basis of application, the market is segregated into schizophrenia, bipolar disorders, and others. By route of administration, the market is segmented into oral and parenteral. On the basis of distribution channel, the market is classified into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global olanzapine market are Alkermes, Apotex Inc., Aurobindo Pharma, Dr. Reddy’s Laboratories Ltd., Eli Lilly and Company, Novartis AG, Sun Pharmaceutical Industries Ltd., Teva Pharmaceuticals Industries Ltd., Torrent Power Ltd, and Viatris Inc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the olanzapine market analysis from 2021 to 2031 to identify the prevailing olanzapine market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the olanzapine market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global olanzapine market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
Bipolar Disorder
Others
Schizophrenia
By Route of Administration
Oral
Parenteral
By Distribution Channel
Hospital Pharmacies
Drug stores and Retail Pharmacies
Online Providers
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Alkermes, Inc.
apotex inc.
Aurobindo Pharma Ltd
Eli Lilly and Company
Dr. Reddy's Laboratories Ltd.
Sun Pharmaceutical Industries Limited
Torrent Group
Teva Pharmaceutical Industries Limited
Novartis AG
Viatris
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