USD 7.16 billion
Schizophrenia Drugs Market Size, Share, Growth Analysis, By Drug Class(Second-generation antipsychotics, third-generation antipsychotics, and others), By Treatment(Oral antipsychotics, and injectable antipsychotics), By Distribution channel(Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQSG35I2011 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
90
|Figures:
76
Schizophrenia Drugs Market Insights
Global Schizophrenia Drugs Market size was valued at USD 7.50 billion in 2022 and is poised to grow from USD 7.90 billion in 2023 to USD 11.94 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).
The rising issue of substance abuse around the world and increasing awareness regarding mental health are projected to alter the global schizophrenia drugs market outlook in the future. Surge in cases of schizophrenia, growing investments in the development of novel pharmaceuticals for mental health issues, and growing awareness regarding symptoms of schizophrenia are other factors that are slated to boost sales of schizophrenia drugs on a global level. Increasing investments in the research and development of novel schizophrenia treatment therapies and drugs around the world are also slated to create new opportunities for schizophrenia drug companies going forward. On the contrary, high costs of schizophrenia treatment, limited efficacy of drugs, complexity in drug development and approval, and growing incidence of treatment resistant schizophrenia are expected to be key restraints for schizophrenia drug providers around the world through 2031 and beyond.
US Schizophrenia Drugs Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Injectable
Fastest Growth
Injectable
Growth Rate
5.8% CAGR
Global Schizophrenia Drugs Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Schizophrenia Drugs Market Segmental Analysis
Global Schizophrenia Drugs Market is segmented on the drug class, treatment, distribution channel and region. By drug class, market is segmented into second-generation antipsychotics, third-generation antipsychotics, and others. By treatment, market is segmented into oral antipsychotics, and injectable antipsychotics. By distribution channel, market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Schizophrenia Drugs Market Analysis by Drug Class
Second-generation antipsychotics are estimated to account for the largest share of the global schizophrenia drugs industry going forward. The high safety and efficacy of these second-generation antipsychotics are projected to aid the dominance of this segment in the future. They are also called atypical antipsychotics. Less risk of xtrapyramidal symptoms, such as tremors and rigidity, associated with second-generation antipsychotics is also expected to further cement the high market share of this segment. High efficacy of these type of schizophrenia drugs in the treatment of negative as well as positive symptoms of schizophrenia is also a key factor helping this segment bring in major revenue for market players.
Meanwhile, the demand for third-generation antipsychotics is expected to rise at an impressive pace across the study period. Growing investments in the development of advanced and novel schizophrenia drugs and high demand for medications with less severe side effects are slated to help this segment generate new opportunities in the future. Rising preference for third-generation antipsychotics for long-term treatment of schizophrenia is also expected to help this segment boost market development going forward. Better patient safety and improved quality of life for schizophrenia-affected patients are also expected to increase the demand for third-generation antipsychotics over the coming years.
Schizophrenia Drugs Market Analysis by Distribution Channel
Hospital pharmacies are projected to account for a substantial schizophrenia drugs market share. Increasing use of complex schizophrenia treatment alternatives and high availability of novel schizophrenia drugs in hospital pharmacies allow them to hold sway over other distribution channels. Availability and access to clinical trial medications in hospital pharmacies is also expected to bolster the share of this segment in the future. The growing integration of hospital pharmacies with inpatient and outpatient services is also expected to present new opportunities for schizophrenia drug companies focusing on this segment in the long run. Need for better patient adherence and use of prescribed treatments are also slated to boost schizophrenia drugs sales via hospital pharmacies.
Meanwhile, the demand for schizophrenia drugs in retail pharmacies is slated to rise at an impressive pace in the future. Availability of personalized services, such as patient counseling and medication management in retail pharmacies are promoting the sales of schizophrenia drugs. Growing awareness regarding schizophrenia among the general population and high emphasis on improving accessibility to schizophrenia treatment are also slated to benefit the global schizophrenia drugs market development over the coming years. Launch of new awareness initiatives to educate people about mental health and growing spending on healthcare are also expected to benefit the demand for schizophrenia drugs via this segment through 2031.
Global Schizophrenia Drugs Market By Treatment, 2021 (%)
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Schizophrenia Drugs Market Regional Insights
North America is estimated to emerge as the leader in terms of schizophrenia drug demand owing to high awareness regarding mental health and growing prevalence of schizophrenia. Launch of new menta health awareness campaigns, presence of key schizophrenia drug providers, and high investments in R&D of novel schizophrenia treatment therapies and drugs are also contributing to the dominance of this region. Increasing aging population opting for treatment of long-standing schizophrenia and rising number of young adults suffering from schizophrenia are also boosting sales of schizophrenia drugs in North America. Canada and the United States are estimated to be the leading markets for schizophrenia drug companies operating in this region.
The Asia Pacific region is emerging as a highly opportune market for schizophrenia drug companies in the world. Growing awareness regarding schizophrenia, the launch of new initiatives to improve mental health awareness and rising healthcare expenditure are key factors making this region the fastest-growing market. Japan, Australia, South Korea, and China are forecasted to be the top markets for schizophrenia drug companies looking to make a mark in the Asia Pacific region. Efforts to reduce stigma around mental health issues and the growing integration of mental health with primary care offerings are also creating new business scope for schizophrenia drug providers over the coming years.
Global Schizophrenia Drugs Market By Geography, 2021 - 2028
- Largest
- Fastest
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Schizophrenia Drugs Market Dynamics
Schizophrenia Drugs Market Driver
Growing Emphasis on Mental Health
- Mental health awareness has increased rapidly in recent years as the incidence of stress, anxiety, and other mental health disorders rises. This has resulted in increased awareness regarding schizophrenia as well, thereby creating new opportunities for schizophrenia drug companies to go forward. Launch of new initiatives to promote awareness and accessibility to mental health treatments is also estimated to favor schizophrenia drugs market growth.
High Incidence of Schizophrenia
- Adoption of urban lifestyles, growing incidence of substance abuse, and rising stress levels are key factors contributing to the high prevalence of schizophrenia around the world. Increasing awareness and rising number of patients diagnosed with schizophrenia are projected to boost the sales of schizophrenia drugs over the coming years.
Schizophrenia Drugs Market Restraints
Limited Efficacy and Treatment Resistance
- Currently available schizophrenia drugs have limited efficacy in the treatment of schizophrenia. Moreover, the prevalence of treatment-resistant schizophrenia is also increasing rapidly, which is rendering schizophrenia drugs useless in most cases. The absence of effective treatment alternatives and drugs is estimated to hurt the demand for schizophrenia drugs going forward.
High Costs of Schizophrenia Treatment
- Schizophrenia treatment programs are often quite expensive especially when they involve the use of novel drugs and long acting injectables. Most of these novel treatment alternatives are not covered by health insurance companies thereby making them very inaccessible to patients with limited spending potential. This restraint is highly prominent in low to middle income countries.
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Schizophrenia Drugs Market Competitive Landscape
Schizophrenia drug providers are projected to focus on gaining approvals for their novel offerings from regulatory bodies. Creating awareness regarding mental health issues and reducing stigma surrounding schizophrenia are also emerging as popular strategies for schizophrenia drug companies. Reducing the costs of schizophrenia treatment and making affordable schizophrenia drugs are also expected to be preferred strategies for market players in the long run.
Schizophrenia Drugs Market Top Players Company Profiles
- Johnson & Johnson (US)
- Bristol-Myers Squibb (US)
- Otsuka Pharmaceutical Co., Ltd. (Japan)
- AstraZeneca (UK)
- Sumitomo Dainippon Pharma (Japan)
- Eli Lilly and Company (US)
- Alkermes Plc (Ireland)
- Vanda Pharmaceuticals Inc. (US)
- Allergan (Ireland)
- Pfizer Inc. (US)
- H. Lundbeck A/S (Denmark)
- Janssen Pharmaceuticals, Inc. (US)
- Minerva Neurosciences (US)
- Reliance Life Sciences (India)
- Novartis AG (Switzerland)
- GlaxoSmithKline (UK)
- Merck KGaA (Germany)
- Takeda Pharmaceuticals (Japan)
- AbbVie (US)
- Acadia Pharmaceuticals (US)
- Karuna Therapeutics (US)
Schizophrenia Drugs Market Recent Developments
- In September 2024, the United States Food and Drug Administration (FDA) approved a new oral medication for the treatment of schizophrenia. Cobenfy is expected to be used as an alternative to traditional antipsychotics as it targets a different brain pathway to treat symptoms of schizophrenia among adult patients.
- In July 2024, the FDA approved a new injectable for the treatment of schizoaffective disorder and schizophrenia. Paliperidone palmitate (Erzofri) was developed by Luye Pharma as a monotherapy for adult patients and is also capable of being used in conjunction with mood stabilizers or antidepressants.
- In September 2024, Spinogenix Inc., a leading clinical-stage biopharmaceutical company announced the launch of a Phase 2 clinical trial of a new treatment for schizophrenia. The trial is expected to evaluate the safety and efficacy of SPG302 for the treatment of schizophrenia in adults.
Schizophrenia Drugs Key Market Trends
- Use of Cognitive-Enhancing Therapies: Schizophrenia patients are often faced with cognitive impairment and use of schizophrenia drugs in combination with cognitive-enhancing therapies can help improve the quality of life for patients. Increasing demand for holistic treatment alternatives for schizophrenia is also expected to create new opportunities for companies focusing on this schizophrenia drugs market trend.
- Emphasis on Treatment of Negative Symptoms: schizophrenia drug providers can focus on developing novel pharmaceuticals that are also capable of handling and treating the negative symptoms of schizophrenia. social withdrawal, apathy, and lack of motivation are some key negative symptoms that schizophrenia drug companies should focus on to maximize their revenue generation potential in the long run.
Schizophrenia Drugs Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing incidence of schizophrenia and rising emphasis on mental health around the world are projected to boost sales of schizophrenia drugs in the future. However, limited efficacy of available schizophrenia drugs and high costs of schizophrenia treatment are estimated to impede the demand for schizophrenia drugs in the long run. North America is expected to spearhead the global schizophrenia drugs sales outlook owing to presence of key schizophrenia drug providers and high awareness regarding mental health. Third-generation antipsychotics are expected to gain massive popularity by the end of 2031. Developing schizophrenia drugs that treat negative symptoms of schizophrenia is projected to be a key trend for all schizophrenia drug companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.50 billion |
| Market size value in 2031 | USD 11.94 billion |
| Growth Rate | 5.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Schizophrenia Drugs Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Schizophrenia Drugs Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Schizophrenia Drugs Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Schizophrenia Drugs Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Schizophrenia Drugs Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Schizophrenia Drugs Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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