The global schizophrenia drugs market was valued at $7,160.4 million in 2021, and is projected to reach $12,533.2 million by 2031, registering a CAGR of 5.8% from 2022 to 2031.
Schizophrenia is a serious mental disorder in which people interpret reality abnormally. It may result in some combination of hallucinations, delusions, and extremely disordered thinking & behavior that impairs daily functioning, and can be disabling.
It can be triggered by various physical, genetic, psychological and environmental factors. The increase in stressful lifestyle drives the growth of market. In addition, surge in geriatric population drives the growth of market. For instance, according to world health organization (WHO), in 2050, the world’s population of people aged 60 years and older is estimated to reach 2.1 billion. The old age population are prone to late-onset schizophrenia. Thus, rise in stressful lifestyle and mental pressure drives the growth of market.
Furthermore, long term consumption of drugs such as opioids and amphetamines are responsible for some schizophrenia symptoms such as delusions and hallucinations. In addition, illegal consumption of cannabis, cocaine, and LSD may trigger schizophrenia. Furthermore, rise in prevalence of schizophrenia globally, drives the growth of market. For instance, in January 2022, according to world health organization (WHO), schizophrenia affects approximately 24 million people or 1 in 300 people (0.32%) worldwide. Thus, rise in incidences of drug abuse and increase in prevalence of schizophrenia drives the growth of market.
Moreover, the increase in R&D activities for development of Schizophrenia Drugs, rise in United States food and drug administration (USFDA) approvals, and novel product launches in market by key players boost the market growth. For instance, in September 2021, The Janssen Pharmaceutical, a subsidiary of Johnson & Johnson, received U.S. food and drug administration (FDA), long-acting atypical antipsychotic INVEGA HAFYERA (6-month paliperidone palmitate), the first-and-only twice-yearly injectable for the treatment of schizophrenia in adults. Furthermore, the rise in number of mental disorder clinics and improvement in healthcare infrastructure further contribute in the market growth. However, the lack of appropriate healthcare infrastructure and dearth of adherence to therapy may hinder the growth of market.
The schizophrenia drugs market is segmented on the basis of therapeutic class, treatment, distribution channel, and region. By therapeutic class, the market is classified into second-generation, third-generation, and others. Depending on treatment, the market is divided into oral and injectable. By distribution channel, the market is classified into hospital pharmacy, retail pharmacy, and online pharmacy. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Pfizer, AbbVie, Alkermes, AstraZeneca, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Merck KGAA, Minerva Neurosciences, Novartis AG, Reliance pharmaceuticals, Sumitomo Dainippon, Takeda Pharmaceuticals, Vanda Pharmaceuticals, Viatris (Mylan NV), and Zydus Cadila
Schizophrenia is a serious mental disorder in which people interpret reality abnormally. It may result in some combination of hallucinations, delusions, and extremely disordered thinking & behavior that impairs daily functioning, and can be disabling.
It can be triggered by various physical, genetic, psychological and environmental factors. The increase in stressful lifestyle drives the growth of market. In addition, surge in geriatric population drives the growth of market. For instance, according to world health organization (WHO), in 2050, the world’s population of people aged 60 years and older is estimated to reach 2.1 billion. The old age population are prone to late-onset schizophrenia. Thus, rise in stressful lifestyle and mental pressure drives the growth of market.
Furthermore, long term consumption of drugs such as opioids and amphetamines are responsible for some schizophrenia symptoms such as delusions and hallucinations. In addition, illegal consumption of cannabis, cocaine, and LSD may trigger schizophrenia. Furthermore, rise in prevalence of schizophrenia globally, drives the growth of market. For instance, in January 2022, according to world health organization (WHO), schizophrenia affects approximately 24 million people or 1 in 300 people (0.32%) worldwide. Thus, rise in incidences of drug abuse and increase in prevalence of schizophrenia drives the growth of market.
Moreover, the increase in R&D activities for development of Schizophrenia Drugs, rise in United States food and drug administration (USFDA) approvals, and novel product launches in market by key players boost the market growth. For instance, in September 2021, The Janssen Pharmaceutical, a subsidiary of Johnson & Johnson, received U.S. food and drug administration (FDA), long-acting atypical antipsychotic INVEGA HAFYERA (6-month paliperidone palmitate), the first-and-only twice-yearly injectable for the treatment of schizophrenia in adults. Furthermore, the rise in number of mental disorder clinics and improvement in healthcare infrastructure further contribute in the market growth. However, the lack of appropriate healthcare infrastructure and dearth of adherence to therapy may hinder the growth of market.
The schizophrenia drugs market is segmented on the basis of therapeutic class, treatment, distribution channel, and region. By therapeutic class, the market is classified into second-generation, third-generation, and others. Depending on treatment, the market is divided into oral and injectable. By distribution channel, the market is classified into hospital pharmacy, retail pharmacy, and online pharmacy. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Pfizer, AbbVie, Alkermes, AstraZeneca, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Merck KGAA, Minerva Neurosciences, Novartis AG, Reliance pharmaceuticals, Sumitomo Dainippon, Takeda Pharmaceuticals, Vanda Pharmaceuticals, Viatris (Mylan NV), and Zydus Cadila
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the schizophrenia drugs market analysis from 2021 to 2031 to identify the prevailing schizophrenia drugs market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the schizophrenia drugs market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global schizophrenia drugs market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Treatment
- Oral
- Injectable
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Therapeutic Class
- Second Generation
- Third Generation
- Other
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Pfizer Inc.
- AbbVie
- AstraZeneca
- Bristol Myers Squibb
- Eli Lilly
- GlaxoSmithKline
- Johnson & Johnson
- Merck KGAA
- Minerva Neurosciences
- Novartis AG
- Reliance
- Sumitomo Dainippon
- Takeda Pharmaceuticals
- Vanda Pharmaceuticals
- Alkermes
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SCHIZOPHRENIA DRUGS MARKET, BY THERAPEUTIC CLASS
CHAPTER 5: SCHIZOPHRENIA DRUGS MARKET, BY TREATMENT
CHAPTER 6: SCHIZOPHRENIA DRUGS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: SCHIZOPHRENIA DRUGS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Schizophrenia Drugs Market," the schizophrenia drugs market was valued at $7.16 billion in 2021, and is estimated to reach $12.53 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.Schizophrenia is a mental disorder characterized by disruptions in thought processes, perceptions, emotional responsiveness, and social interactions. The exact causes of schizophrenia are unknown however, schizophrenia can be triggered by combination of physical, genetic, psychological and environmental factors.
The increase in prevalence of schizophrenia drives the growth of Schizophrenia Drugs Industry. For instance, in January 2022, according to report of world health organization (WHO), schizophrenia affects approximately 24 million people worldwide. The second and third-generation drugs such as aripiprazole and cariprazine are used for the treatment of schizophrenia. Furthermore, rise in number of geriatric populations drives the Schizophrenia Drugs Market growth. The old age peoples are more prone to mental disorders such as alzheimer and dementia. Thus, geriatric population signifies increase in patients of chronic diseases. For instance, according to world health organization (WHO), by 2050, the world’s population of people aged 60 years and older will reached to 2.1 billion.
The increase in prevalence of schizophrenia drives the growth of market. In addition, increase in R&D activities for development of third-generation drugs contributed in growth of market. For instance, in December, 2021, the Unichem Laboratories, a leading pharmaceutical company, received United States Food and Drug Administration (USFDA) abbreviated new drug application (ANDA) approval for its Aripiprazole tablets USP, 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg. Furthermore, Furthermore, in June, 2021, the Alkermes plc. a leading pharmaceutical company, received United States Food and Drug Administration (USFDA) approval for its LYBALVI, a once-daily, oral atypical antipsychotic composed of olanzapine, an established antipsychotic agent, and samidorphan, a new chemical entity. Thus, latest product approvals and prevalence of schizophrenia boosts the growth of this segment
Furthermore, factors that drive the growth of the Schizophrenia Drugs Market trends include R&D for development of schizophrenia drugs, increase in clinical trials activities, and new product launched in market. For instance, in January 2021, Teva Pharmaceuticals, a leading pharmaceutical company, and MedinCell, a clinical stage pharmaceutical company, announced positive results for study TV46000-CNS-30072, a Phase 3 clinical trial designed to evaluate the efficacy of TV-46000/mdc-IRM (risperidone extended-release injectable suspension for subcutaneous use) as a treatment for patients with schizophrenia. Furthermore, the rise in awareness about schizophrenia treatment and increase in acceptability of schizophrenia drugs by medical practitioners contributes towards growth of the Schizophrenia Drugs Market size.
The schizophrenia drugs market is segmented into by therapeutic class, treatment. distribution channel and region.
On the basis of therapeutic class, the market is classified into second-generation, third-generation and others. The second-generation segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to availability of multiple Second-generation drugs, and prevalence of mental disorders.
Based on treatment, the market is divided into oral and injectable. The oral segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to growing prevalence of schizophrenia and increase in adoption of oral anti-psychotic.
Depending on distribution channel, the market is classified into hospital pharmacy, retail pharmacy and online pharmacy. The retail pharmacy segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to increasing number of retail pharmacies and increasing prevalence of anxiety & depression.
North America accounted for a majority of the global schizophrenia drugs market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of mental disorders, new product launch in market and presence of key players in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of schizophrenia and high population base.
Key Findings of the Study
- On the basis of therapeutic class, the second-generation segment was the highest contributor to the market in 2021.
- Based on treatment, the oral segment was the highest contributor to the market in 2021.
- Depending on distribution channel, the retail pharmacy segment was the highest contributor to the market in 2021.
- Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Pfizer Inc.
- Abbvie
- Astrazeneca
- Bristol Myers Squibb
- Eli Lilly
- GlaxoSmithKline
- Johnson & Johnson
- Merck Kgaa
- Minerva Neurosciences
- Novartis AG
- Reliance
- Sumitomo Dainippon
- Takeda Pharmaceuticals
- Vanda Pharmaceuticals
- Alkermes
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 220 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 7160.4 million |
| Forecasted Market Value ( USD | $ 12533.2 million |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
