Global Schizophrenia Drugs Market Report by Treatment (Oral, Injectable) Therapeutic Class (Second Generation, Third Generation, Others) Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) Countries and Company Analysis, 2024-2032

"The global market is expected to grow due to the introduction of newer medications, such as second and third generation antipsychotics.":

Nowadays, people are more conscious of mental disease, particularly serious mental disorders like schizophrenia. The severe and crippling effects of untreated schizophrenia on the patient have had a significant impact on the expansion of the global market for schizophrenia therapies.

The market for schizophrenia drugs has grown as a result of several trends, including rising mental illness awareness, more medical interventions for the treatment of serious mental illnesses, a strong and reliable pipeline, rising adoption of cutting-edge schizophrenia therapeutics in emerging markets, and an increase in the number of people with schizophrenia. Additionally, a growing number of industrialized and emerging nations' healthcare systems are emphasizing mental health more and more. For example, state and federal legislation in the United States mandate that the payment for mental health services be equal to that for medical services.

For example, the worldwide market has more unmet needs in terms of treatment outcomes and reimbursements. Healthcare professionals are frequently predisposed to prescribe specific generations of schizophrenia medications for the treatment of the disease, according to a review of payment trends.

"The market will be driven by the growing need for better and more effective treatment outcomes.":

A significant contributing aspect anticipated to propel the expansion of the worldwide market for schizophrenia treatment is the worries surrounding non-compliance with oral schizophrenia medication and the consequent recurrence of symptoms. This has led to the widespread use of long-acting injectables (LAIs), a type of medicinal medication used to treat schizophrenia. Recent years have seen the approval of several important long-acting injectable (LAI) medications for the treatment of schizophrenia. Several prominent industry leaders are concentrating on the development of this type of schizophrenia medication due to these tendencies.

Several benefits linked to long-acting injectables include preventing patients from not taking their medications as prescribed and prolonging the medication's half-life in the body. The most important feature of the long-acting injectable, however, is that it successfully lowers the number of relapses, which frequently lead to cognitive and irreversible brain damage, by preventing non-adherence.

Owing to the high efficacies of these long acting injectables (LAIs), the market is expected to rise strongly throughout the forecast period. The FDA approved Indivior PLC's Perseris, an extended-release injectable version of risperidone, as a novel antipsychotic medication for the treatment of schizophrenia in July 2018.

North America Schizophrenia Drugs Market

Due to factors like rising geriatric population, rising prevalence of schizophrenia and related mental disorders, robust healthcare infrastructure, high healthcare spending, and the presence of major market players, North America is predicted to hold a significant market share in the market for schizophrenia drugs.

The primary driver of the market expansion in the region is the rising prevalence of schizophrenia and mental disease in the general population. The National Alliance of Mental Illness (NAMI) June 2022 update states that approximately 1.5 million adults in the US have schizophrenia annually. As a result, there is expected to be a demand for schizophrenia medications in the area, which will accelerate the growth of the North American market under study. Furthermore, men in their late teens or early twenties and women in their late twenties or early thirties are usually affected by schizophrenia. In a similar vein, the World Health Organization projects that in 2022, the risk of early death for individuals with schizophrenia will be two to three times higher than that of the general population. Physical ailments like cardiovascular, metabolic, and viral diseases are frequently to blame for this.

In order to maintain its position in the market for schizophrenia medications, the company is also primarily focused on implementing a variety of business strategies, including partnerships, product launches, acquisitions, and collaborations. These initiatives are anticipated to accelerate market growth. For example, in November 2021, Neurocrine Biosciences and Sosei Group Corporation collaborated to create a novel protein inhibitor brand that enhances treatment for a variety of neuropsychiatric conditions. As per the agreement, Sosei Heptares's discoveries of muscarinic M4, M1, and dual M1/M4 receptor agonists are entitled to development and production by Neurocrine Biosciences.

Global Schizophrenia Drugs Company Analysis:

Some leading Schizophrenia Drugs companies are H Lundbeck, Pfizer Inc., AbbVie, AstraZeneca, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Novartis AG, Takeda Pharmaceuticals.

Global Schizophrenia Drugs Company News:

March 2022: With Gedeon Richter, AbbVie agreed into a co-development and licensing arrangement to create, investigate, and market innovative dopamine receptor modulators for the possible treatment of neuropsychiatric disorders.

February 2022: With Neumora Therapeutics, Vanderbilt University inked a worldwide license and research partnership deal to create precision treatments for brain illnesses by combining data science and neuroscience. Two novel series of chemicals that target neuropsychiatric illnesses such as schizophrenia are part of the license program.

Key Questions Answered in This Report:

Question:    How big is the Schizophrenia Drugs market?

Answer:     The global Schizophrenia Drugs market size was estimated to reach USD 10.13 Billion in 2032 while it was estimated to reach US$ 7.43 Billion by 2023.

Question:    What is the Schizophrenia Drugs market growth rate?

Answer:     The global Schizophrenia Drugs market is expected to grow at a compound annual growth rate of 3.50% from 2024 to 2032.

Question:    Who are the key players in Schizophrenia Drugs market?

Answer:     Some key players operating in the Schizophrenia Drugs market includes H Lundbeck, Pfizer Inc., AbbVie, AstraZeneca, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, etc.

Question:    What are the factors driving the Schizophrenia Drugs market?

Answer:     Key factors that are driving the Schizophrenia Drugs includes the global market is expected to grow due to the introduction of newer medications, such as second and third generation antipsychotics, "The market will be driven by the growing need for better and more effective treatment outcomes., etc.

Question:    Which Region held the largest market share in the Schizophrenia Drugs market?

Answer:     “North America” had the largest share in the Schizophrenia Drugs Market.

Treatment – Market Breakup in 2 Viewpoints:

1. Oral
2. Injectable

Therapeutic Class – Market Breakup in 3 Viewpoints:

1. Second Generation
2. Third Generation
3. Others

Distribution Channel – Market Breakup in 4 Viewpoints:

1. Hospital Pharmacies
2. Retail Pharmacies
3. Online Pharmacies

Geography – Market Breakup of 18 Countries:

North America

1. United States
2. Canada
3. Mexico
4. Brazil

Europe

1. United Kingdom
2. Germany
3. France
4. Italy
5. Spain
6. Netherlands

Asia Pacific

1. China
2. Japan
3. India
4. South Korea
5. Australia

Middle East & Africa

1. South Africa
2. United Arab Emirates

Rest of the World

Company Insights:

• Overview
• Business Strategy
• Product Portfolio
• Financial Insight

Key Players Analysis:

1. H Lundbeck
2. Pfizer Inc.
3. AbbVie
4. AstraZeneca
5. Bristol Myers Squibb
6. Eli Lilly
7. GlaxoSmithKline
8. Johnson & Johnson
9. Novartis AG
10. Takeda Pharmaceuticals

Report Details: