As per the latest report published by Growth Plus Reports, the Global Schizophrenia Drugs Market was valued at US$ 7.52 billion in 2021 and is expected to reach US$ 10.98 billion by 2030 at a revenue CAGR of 4.30% during the forecast period 2022 to 2030. The study provides a throughout analysis of the most successful strategies, market trends, drivers and opportunities, competitive landscape, market size, statistics, forecasts, and key investment areas.
Key Takeaways:
- The increasing demand for better and more effective treatment outcomes drives market revenue.
- Unmet demand for Schizophrenia medication to propel the market revenue growth.
- Increasing R&D activities and technological advancements will create a strong product pipeline.
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Schizophrenia Drugs Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 7.52 billion |
| Revenue forecast in 2030 | US$ 10.98 billion |
| Growth Rate | CAGR of 4.30% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | Drug Class, Route of Administration, and Region. |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers:
During the forecast period, the global schizophrenia drugs market is expected to grow because of several factors, including rising government and healthcare organizations focused on mental health, rising investments by market players in R&D activities, and rising incidence and prevalence of schizophrenia-and related disorders and mental illness. However, the market revenue growth is being constrained by the high cost of drugs and medical care. A portion of the market revenue growth is also expected to be hindered by the lack of awareness and the rigorous regulations for the approval and introduction of new products.
Market Segmentation:
Growth plus reports have analyzed the global schizophrenia drugs market from perspectives such as drug class, route of administration, and region.
Drug Class Segmentation:
Based on drug class, the global schizophrenia drugs market is divided into 1st generation antipsychotics, 2nd generation antipsychotics, and 3rd generation antipsychotics.
The 2nd generation antipsychotics segment dominates the market in terms of revenue share due to its high demand. It includes a key drug, aripiprazole which is used to treat schizophrenia by directly affecting the brain. The drug enhances thinking, mood, and behavior by balancing dopamine and serotonin levels.
The 1st generation antipsychotics segment is expected to register high revenue growth during the forecast period due to its increasing demand for blocking dopaminergic neurotransmission and are significantly less expensive than most modern antipsychotics.
Route of Administration Segmentation:
Based on the route of administration, the global market for schizophrenia drugs is segmented into parenteral and oral.
The oral segment dominates the global market in terms of the largest revenue share. The factors influencing the revenue growth of this segment include the widespread availability of oral medications, non-invasiveness, and higher physician preference.
The injectable segment is also expected to show high revenue growth during the forecast period because of the launch of new products strengthening the injectable product portfolio.
Regional Growth Dynamics:
Based on region, the global schizophrenia drugs market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global market for schizophrenia drugs in terms of revenue share. The large revenue share of this region is attributed to the rising acceptance and growing awareness of schizophrenia treatments and the increased geriatric population suffering from late-onset schizophrenia.
The Asia Pacific region is expected to register the fastest revenue growth during the forecast period due to rising awareness and focus on mental health.
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Competitive Landscape:
The prominent players operating in the global schizophrenia drugs market are:
- Lundbeck A/S
- Janssen Pharmaceuticals, Inc.
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- AstraZeneca plc
- Otsuka Pharmaceuticals Co., Ltd.
- Vanda Pharmaceuticals Inc.
- Alkermes Plc
- Allergan plc
- Pfizer Inc.
To increase the product portfolio in the global schizophrenia drugs market, prominent players have embraced product launches, product approval, and agreement as key developmental strategies. These initiatives have enabled the expansion of future economic business prospects and increased demand for schizophrenia drugs.
Recent developments:
- In June 2021, Lybalvi, made by Alkermes, received approval from the US FDA for several uses, including the treatment of individuals with schizophrenia and bipolar I disorder.
- In May 2021, Boehringer Ingelheim said that the U.S. Food and Drug Administration (FDA) had granted BI 425809 its Breakthrough Therapy Designation (BTD), allowing it to be used to treat Cognitive Impairment Related to Schizophrenia (CIAS).
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- GLOBAL SCHIZOPHRENIA DRUGS MARKET – ANALYSIS & FORECAST, BY DRUG CLASS
- 1st Generation Antipsychotics
- 2nd Generation Antipsychotics
- 3rd Generation Antipsychotics
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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