Schizophrenia Drugs Market By Therapeutic Class (Second Generation, Third Generation, Other), By Treatment (Oral, Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global schizophrenia drugs market was valued at $7,160.4 million in 2021, and is projected to reach $12,533.2 million by 2031, registering a CAGR of 5.8% from 2022 to 2031.
Schizophrenia is a serious mental disorder in which people interpret reality abnormally. It may result in some combination of hallucinations, delusions, and extremely disordered thinking & behavior that impairs daily functioning, and can be disabling.
It can be triggered by various physical, genetic, psychological and environmental factors. The increase in stressful lifestyle drives the growth of market. In addition, surge in geriatric population drives the growth of market. For instance, according to world health organization (WHO), in 2050, the world’s population of people aged 60 years and older is estimated to reach 2.1 billion. The old age population are prone to late-onset schizophrenia. Thus, rise in stressful lifestyle and mental pressure drives the growth of market.
Furthermore, long term consumption of drugs such as opioids and amphetamines are responsible for some schizophrenia symptoms such as delusions and hallucinations. In addition, illegal consumption of cannabis, cocaine, and LSD may trigger schizophrenia. Furthermore, rise in prevalence of schizophrenia globally, drives the growth of market. For instance, in January 2022, according to world health organization (WHO), schizophrenia affects approximately 24 million people or 1 in 300 people (0.32%) worldwide. Thus, rise in incidences of drug abuse and increase in prevalence of schizophrenia drives the growth of market.
Moreover, the increase in R&D activities for development of Schizophrenia Drugs, rise in United States food and drug administration (USFDA) approvals, and novel product launches in market by key players boost the market growth. For instance, in September 2021, The Janssen Pharmaceutical, a subsidiary of Johnson & Johnson, received U.S. food and drug administration (FDA), long-acting atypical antipsychotic INVEGA HAFYERA (6-month paliperidone palmitate), the first-and-only twice-yearly injectable for the treatment of schizophrenia in adults. Furthermore, the rise in number of mental disorder clinics and improvement in healthcare infrastructure further contribute in the market growth. However, the lack of appropriate healthcare infrastructure and dearth of adherence to therapy may hinder the growth of market.
The schizophrenia drugs market is segmented on the basis of therapeutic class, treatment, distribution channel, and region. By therapeutic class, the market is classified into second-generation, third-generation, and others. Depending on treatment, the market is divided into oral and injectable. By distribution channel, the market is classified into hospital pharmacy, retail pharmacy, and online pharmacy. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Pfizer, AbbVie, Alkermes, AstraZeneca, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Merck KGAA, Minerva Neurosciences, Novartis AG, Reliance pharmaceuticals, Sumitomo Dainippon, Takeda Pharmaceuticals, Vanda Pharmaceuticals, Viatris (Mylan NV), and Zydus Cadila
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the schizophrenia drugs market analysis from 2021 to 2031 to identify the prevailing schizophrenia drugs 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 schizophrenia drugs 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 schizophrenia drugs market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Treatment
Oral
Injectable
By Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
By Therapeutic Class
Second Generation
Third Generation
Other
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Pfizer Inc.
AbbVie
AstraZeneca
Bristol Myers Squibb
Eli Lilly
GlaxoSmithKline
Johnson & Johnson
Merck KGAA
Minerva Neurosciences
Novartis AG
Reliance
Sumitomo Dainippon
Takeda Pharmaceuticals
Vanda Pharmaceuticals
Alkermes
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