The Global Schizophrenia Market is expected to grow at a CAGR of 3.2% during the forecast period 2017-2023.
Schizophrenia is a chronic and severe mental disorder that affects the thinking, feeling, and behavior of the person. People with schizophrenia may be more in imagination world and lost touch with reality. Although schizophrenia is not as common as other mental disorders, the symptoms can be very disabling. The symptoms of this disease are categories in three way that are positive, negative, and cognitive.
People with schizophrenia are more prone to die earlier than the normal population. This is often due to physical illnesses, such as cardiovascular, metabolic and infectious diseases. According to WHO, in 2016, More than 50% of people with schizophrenia are not receiving appropriate care. 90% of people with untreated schizophrenia live in low and developing countries, such as India, Pakistan, etc.
Increasing prevalence of patients seeking treatment and rising demand for improved healthcare infrastructure are expected to drive the market. Moreover availability of funds and WHO initiative towards developing countries fuel the market in developing region.
Some of key the players in the market are Minerva Neurosciences (U.S.), Promentis Pharmaceuticals, Inc. (U.S.), Bristol-Myers Squibb (U.S.), PsychoGenics Inc. (U.S.), Vineuro Pharmaceuticals, Novartis AG (Switzerland), Merz Pharma GmbH & Co. KGaA (Germany), AbbVie Inc. (U.S.), Eli-Lilly and Company (U.S.), AstraZeneca Plc (U.K)
The Americas dominate the global schizophrenia market owing to better treatment availability, high healthcare expenditure, and increasing government support for research & development. Furthermore, strict rule introduce by WHO, will leads the market of schizophrenia.
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Europe holds the second position in the global schizophrenia market owing to the government support for research & development and availability of funds for research. This is expected to continue to drive the European market over the forecasted period. For instance, countries like Germany and France are increasing investment in the healthcare domain which is poised to propel the schizophrenia market.
Asia Pacific is the fastest growing schizophrenia market owing to the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure. Moreover, WHO’s Mental Health Gap Action Programme, launched in 2008, uses evidence-based technical guidance, tools and training packages to expand service especially in the developing countries like India, Iran, Pakistan, Tanzania. Furthermore, WHO initiative for training primary health-care personnel, providing access to essential drugs, and supporting families in providing home care lead the market growth of the schizophrenia in the region.
On the other hand, in the Middle East and Africa, blood disorders have become a huge problem due to limited screening, ignorance of diseases, and poor access to treatment.
The report for Schizophrenia Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
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