Schizophrenia is a mental disorder in which thoughts, emotions, and reality are interpreted abnormally. It can culminate in hallucinations, delusions, and disordered thinking which can impair day-to-day functioning. Although the disorder varies among individuals, it can be severe and disabling. The global schizophrenia drugs market report by Market Research Future (MRFR) contains insights on the condition, treatments, new drugs, and other innovations for the period between 2019 and 2025 (forecast period).
The global schizophrenia drugs market size is poised to accumulate a significant valuation during the forecast period. Rising number of cases people being diagnosed with the medical condition, the growing number of the elderly populace, and rise in the research and development of schizophrenia are factors driving market growth. According to the National Institute of Mental Health, schizophrenia is one of the top 15 causes of disability worldwide.
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Relaxation of prior authorization (PA) for generic drugs and shift to high-quality patient care can impact the market greatly. The low efficacy of anti-psychotic drugs and the lack of methods of determining their performance has led to the use of dose-response meta-analyses for all placebo clinical trials. High need for innovation in treatments of mental disorders are likely to offer new opportunities for growth.
However, strict regulations pertaining to approvals of novel drugs and generic products can be detrimental to the global schizophrenia drugs market growth.
Schizophrenia Drugs Market Segmentation
The global schizophrenia drugs market has been segmented into type, treatment, and route of administration.
By type, the global schizophrenia drugs market has been segmented into paranoid schizophrenia, hebephrenic schizophrenia, catatonic schizophrenia, and undifferentiated schizophrenia.
Based on treatment, the global schizophrenia drugs market has been divided into second-generation antipsychotics and third-generation antipsychotics. The second-generation antipsychotics segment is sub-segmented into Latuda (Lurasidone), Risperdal (Risperidone), Zyprexa (Olanzapine), Invega (Paliperidone), Geodon (Ziprasidone), Seroquel (Quetiapine), and others.
Based on route of administration, the global schizophrenia drugs market has been bifurcated into oral and injectables.
Schizophrenia Drugs Market Regional Analysis
The global schizophrenia drugs market has been segmented, by region, into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas can dominate the global market till 2025 due to rising demand for schizophrenia treatment, increasing cases of the medical condition, and the geriatric populace. According to the Treatment Advocacy Center, schizophrenia has affected close to 2.6 million adults in the U.S. in 2015. Awareness programs for the condition and launch of new drugs via strict clinical trials can bode well for the market. For instance, Mental Health America’s (MHA) initiative, B4Stage4, for early identification and treatment of mental illnesses.
Europe has the second-largest share in the schizophrenia drugs market due to increasing mental health problems and the increasing geriatric populace. The large healthcare expenditure can also bolster the global market demand exponentially. APAC is touted to be the fastest growing region owing to adoption of faster treatments and latest drugs. High prevalence of mental health problems in Singapore, Hong Kong, and Japan can fuel the global schizophrenia drugs market demand till 2025.
Lastly, the MEA region can contribute little to the market due to the underdeveloped infrastructure and lack of mental health facilities. But demand for schizophrenia treatment and rising number of hospitals can drive the market growth in the region.
Schizophrenia Drugs Market Competition Outlook
Pfizer, Johnson & Johnson, AstraZeneca, Eli Lilly, Allergan/Geodon Ritcher, Bristol-Myers Squibb and Company/Otsuka Pharmaceuticals, Alkermes, Sumitomo Dainippon Pharma, and Vanda Pharmaceuticals are the biggest players in the global schizophrenia drugs market.
Schizophrenia Drugs Industry News
SEP-363856, an investigational drug, created in collaboration by Sunivon Pharmaceuticals and PsychoGenics Inc. can treat patients with schizophrenia with any side-effects encountered before. The clinical trial comprising 245 patients had some degree of success with the drug affecting the dopamine system in a different manner.
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