Schizophrenia is a mental disorder in which the patient suffers from strange speech, abnormal behavior, loss of ability to think, and inability to understand reality. Moreover, the patient suffers from less social engagement, depression, anxiety, or less emotional expression. Schizophrenia typically occurs between the ages of 16-30, according to the Brain and Behavior Research Foundation. However, the underlying cause of schizophrenia is unknown, the possible causes are genetic, environmental factors or poor nutrition during pregnancy.
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Treatments for schizophrenia count antipsychotic medications, behavioural therapy, and psychotherapy. Electroconvulsive therapies also help treat schizophrenia. In serious cases, short-term hospitalization is required.
Global Schizophrenia Therapeutic Market- Drivers
Due to the increasing prevalence of schizophrenia, the global schizophrenia therapeutic market is expected to grow in size. The World Health Organization (WHO) reported that more than 23 million patients worldwide are affected by schizophrenia in 2018. Moreover, increasing approval of treatments with second-generation antipsychotic drugs like, lurasidone, olanzapine, paliperidone, and risperidone, which have fewer side effects, is expected to increase revenue in the global schizophrenia treatment market. For example, the U.S. Food and Drug Administration (FDA) approved Vraylar (Cariprazine) in 2015, which was tested on 1,750 patients. The drug effectively reduced the symptoms of schizophrenia in a short time.
Global Schizophrenia Therapeutic- Restraints
General carelessness and stigma about schizophrenia is a major deterrent to the growth of the global schizophrenia therapeutic market. For example, in 2018, the Schizophrenia and Related Disorders Alliance of America (SARDAA) reported that due to neglect of mental health, about 50% of people diagnosed with schizophrenia do not receive treatment.
Furthermore, side effects caused by antipsychotics like constipation, epilepsy, low blood pressure, blurred vision, nausea, malaise, dizziness, and weight gain, may also be a rendering factor of negative growth for global schizophrenia therapeutic market earnings. For example, according to the findings of the National Center for Biotechnology Information (NCBI) 2017, obesity affects 15% -72% of patients, 12% of patients with diabetes and 39% of constipation in schizophrenic patients. The use of antipsychotics can lead to sudden cardiac death and even ventricular arrhythmia.
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Global Schizophrenia Therapeutic Market- Regional Analysis
Due to the increasing incidence of schizophrenia and large investments in schizophrenia therapy in the region, North America has a strong position in the schizophrenia therapeutic market. According to SARDAA, approximately 3.2 to 3.5 million people in the U.S. suffered from schizophrenia in 2013. According to the same source, approximately US $ 32 to US $ 65 billion is spent annually on treatment of schizophrenia and other financial costs in the US.
Asia Pacific is the fastest growing region in the global schizophrenia therapeutic market due to the high prevalence of schizophrenia in economies like China and India. According to NCBI 2014 data, the prevalence rate of schizophrenia in China was 4.62 per 1000 people. The launch of new drugs in China is expected to increase the size of the global schizophrenia therapeutic market. For example, in 2018, Johnson & Johnson’s Janssen Pharmaceutical companies launched INVEGA TRINZA for the treatment of schizophrenia in China. INVEGA TRINZA is a three-month long-acting atypical antipsychotic drug for insomnia.
Global Schizophrenia Therapeutic Market- Segmentation
On the basis of Drug Type, the Global Schizophrenia Therapeutic Market is segmented into:
- First Generation Antipsychotic Drugs
- Second Generation Antipsychotic Drugs
On the basis of Distribution Channel, the Global Schizophrenia Therapeutic Market is segmented into:
- Online Pharmacy
- Retail Pharmacy
- Hospital Pharmacy
On the basis of Region, the Global Schizophrenia Therapeutic Market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East
Global Schizophrenia Therapeutic Market- Competitive Landscape
Key players performing in the global schizophrenia therapeutic market are Sumitomo Dainippon Pharma, Allergan (Forest Labs), Alkermes, Otsuka Pharmaceuticals, Novartis AG, Intas Pharmaceuticals, Sandoz Canada Inc., Pfizer, Johnson & Johnson, Eli Lilly and Company, Bristol-Myers Squibb, and AstraZeneca.
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Reasons to Purchase This Report
• Current and future of Schizophrenia Therapeutic Market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Schizophrenia Therapeutic Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Schizophrenia Therapeutic Industry Impact
Chapter 2 Global Schizophrenia Therapeutic Competition by Types, Applications, and Top Regions and Countries
2.1 Global Schizophrenia Therapeutic (Volume and Value) by Type
2.3 Global Schizophrenia Therapeutic (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Schizophrenia Therapeutic Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Schizophrenia Therapeutic Market Analysis
Chapter 6 East Asia Schizophrenia Therapeutic Market Analysis
Chapter 7 Europe Schizophrenia Therapeutic Market Analysis
Chapter 8 South Asia Schizophrenia Therapeutic Market Analysis
Chapter 9 Southeast Asia Schizophrenia Therapeutic Market Analysis
Chapter 10 Middle East Schizophrenia Therapeutic Market Analysis
Chapter 11 Africa Schizophrenia Therapeutic Market Analysis
Chapter 12 Oceania Schizophrenia Therapeutic Market Analysis
Chapter 13 South America Schizophrenia Therapeutic Market Analysis
Chapter 14 Company Profiles and Key Figures in Schizophrenia Therapeutic Business
Chapter 15 Global Schizophrenia Therapeutic Market Forecast (2021-2027)
Chapter 16 Conclusions
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