Schizophrenia Drugs Market - Forecast(2024 - 2030)

Schizophrenia Drugs Market size is estimated to reach $9.41 billion by 2027, growing at a CAGR of 3.14% during the forecast period 2022-2027. Schizophrenia is an antipsychotic drug that performs to treat the symptoms of schizophrenia by intruding with brain chemistry. They are planned to interrupt brain transmitters that convey feelings and actions in the brain. The medicines that physicians prescribe most frequently for schizophrenia are termed antipsychotics. They alleviate symptoms like delusions and hallucinations. Prenatal nutrition may apply its effect on schizophrenia hazard through many pathways (affecting the kinetics of one-carbon metabolism, epigenetic perturbation of the fetal epigenome, or through meddling with neurodevelopment). Atypical antipsychotics are most frequently specified to treat schizophrenia. The increasing population of the elderly being more vulnerable to late-onset schizophrenia is set to drive the Schizophrenia Drugs Market. The soaring burden of the ailment and the surging requirement to handle it efficiently through optimum utilization of antipsychotic drugs as stipulated by physicians is set to propel the growth of the Schizophrenia Drugs Market during the forecast period 2022-2027. This represents the Schizophrenia Drugs Industry Outlook.

Report Coverage

The report: “Schizophrenia Drugs Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Schizophrenia Drugs Market.

By Therapeutic Class: Second Generation Antipsychotics, Third-Generation Antipsychotics, Others.

By Treatment: Oral, Injectables.

By Geography: North America (U.S, Canada, and Mexico), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), and Rest Of The World (Middle East, Africa).

Key Takeaways

• Geographically, North America Schizophrenia Drugs Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the present-day frantic lifestyles which are causing a principal chunk of the population to access medication therapies like antipsychotic drugs for schizophrenia in the North American region.

• Schizophrenia Drugs Market growth is being driven by the surging count of patients undergoing treatment involving antipsychotic drugs and the heightening demand for enhanced healthcare infrastructure. However, the commencement of the COVID-19 pandemic globally and the lockdowns worldwide brought about the suspension of services by the hospitals and clinics to curb the spread of the SARS-CoV-2 virus and is one of the major factors hampering the growth of the Schizophrenia Drugs Market. 

• Schizophrenia Drugs Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Schizophrenia Drugs Market report. 
  

  Schizophrenia Drugs Market Share, By Therapeutic Class, 2021(%)
  

  
  

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Schizophrenia Drugs Market Segment Analysis – By Therapeutic Class:

The Schizophrenia Drugs Market based on the therapeutic class can be further segmented into Second-Generation Antipsychotics, Third-Generation Antipsychotics, and Others. The Second Generation Antipsychotics Segment held the largest market share in 2021. This growth is owing to the increasing application of Second-Generation Antipsychotics as the typically preferred mode of treatment for Schizophrenia Typical second-generation antipsychotics include clozapine and olanzapine. The persistent backing by the government to private and public healthcare firms is further propelling the growth of the firms in the Second Generation Antipsychotics segment.

Furthermore, the Third Generation Antipsychotics segment is estimated to grow with the fastest CAGR of 3.8% during the forecast period 2022-2027 owing to the surging application of third-generation antipsychotics like Aripiprazole backed by good proof for the handling of positive symptoms in patients with Schizophrenia.

Schizophrenia Drugs Market Segment Analysis – By Treatment:

The Schizophrenia Drugs Market based on treatment can be further segmented into Oral and Injectables. The Injectables segment held the largest market share in 2021. This growth is owing to the soaring preference of patients enduring Schizophrenia for long-acting injectable (LAI) antipsychotics in comparison with oral versions of these medicines owing to their increased convenience and enhanced control over their lives as per novel research. The surging inclination of patients towards injections once in 3 months over monthly injections owing to minimal physician visits and reduced pain is further propelling the growth of this segment.

Furthermore, the Injectables segment is estimated to grow with the fastest CAGR of 3.9% during the forecast period 2022-2027 owing to the increased possibility of hospitalization of patients on oral medications who are twice more likely to be hospitalized than the patients on LAI antipsychotic.

Schizophrenia Drugs Market Segment Analysis – By Geography:

The Schizophrenia Drugs Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Schizophrenia Drugs Market) held the largest share with 38.2% of the overall market in 2021. The growth of this region is owing to the proliferating inclination of the population towards medications like antipsychotics in the wake of their frantic lifestyles. The heightening progressive medical care for initial treatment and the association of the government in boosting spending on healthcare are propelling the growth of the Schizophrenia Drugs Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like increasing awareness of mental disorders like schizophrenia requiring antipsychotics. The raised awareness regarding the early diagnosis of ailments like Schizophrenia and the ready accessibility of efficient treatment in countries like Japan is further fuelling the progress of the Schizophrenia Drugs Market in the Asia-Pacific region.

Schizophrenia Drugs Market Drivers

Increased Application Of Antipsychotic Drugs  For Treatment Of Schizophrenia Is Projected To Drive The Growth Of Schizophrenia Drugs Market:

The foremost line of pharmacological treatment for schizophrenia is the application of antipsychotic drugs. These medicines are available in three kinds namely Second-generation antipsychotics, First-generation antipsychotics, and Long-acting injectable antipsychotics. Except for long-acting injectables, antipsychotic medicines are normally consumed in pill form. However, certain medicines are accessible in dissolving tablets, suppository or liquid form. Antipsychotic medicines assist in regulating the symptoms of psychosis—a state in which an individual loses contact with reality and thinks, listens, or perceives things that are not real. While antipsychotics do not heal sickness, they assist in curbing symptoms and, when taken long-term, can assist in averting forthcoming episodes of psychosis. The soaring application of antipsychotic drugs is therefore fuelling the growth of the Schizophrenia Drugs Market during the forecast period 2022-2027.

Ground Breaking Research In Schizophrenia Is Expected To Boost The Demand Of Schizophrenia Drugs Market:

Antipsychotics are utilized in the treatment of Schizophrenia. As per the World Health Organization (WHO), Schizophrenia is an incessant and serious mental ailment affecting 20 million people globally. The international weekly science journal Nature currently announced findings from a big, multi-country investigation recognizing 108 genes, 83 of these unknown earlier, as adding to schizophrenia hazard. These findings are more than triple the count of genetic associations formerly recognized for this ailment. Pfizer, by way of an agreement with the Broad Institute, granted samples to the study, which was conducted by the Psychiatric Genomics Consortium (PGC), a collaboration of over 80 institutions that evaluated data for over 150,000 adult subjects. This groundbreaking investigation offers vital novel insight into the biological basis of this destructive ailment. As with other conditions, defining the genetic origins of the ailment will assist the scientific community to comprehend what could make some people susceptible to schizophrenia. Over time, the outcomes will assist in recognizing novel drug targets and characterize patient subpopulations most likely to gain from novel therapeutics. These kinds of pioneering research efforts are driving the growth of the Schizophrenia Drugs Market during the forecast period 2022-2027.

Schizophrenia Drugs Market Challenges

Side Effects Of Schizophrenia Medications, Medication Compliance, And Treatment-Resistant Schizophrenia Present Challenge To The Growth Of The Schizophrenia Drugs Market:

Antipsychotics are prescribed by physicians for Schizophrenia. Some short-term side effects of typical antipsychotics are drowsiness, restlessness, muscle spasms, dry mouth, blurred vision, tremor, and constipation.  Atypical antipsychotics are regarded safer with respect to tardive dyskinesia.  How, they may probably contribute to metabolic side effects like low blood pressure, weight gain, and surging blood sugar levels resulting in diabetes. Medication compliance is demanding for some patients enduring Schizophrenia. Up to 30% of people with schizophrenia do not respond to two or more antipsychotic medications. This is termed treatment-resistant schizophrenia (TRS). These issues are hampering the growth of the Schizophrenia Drugs Market.

Schizophrenia Drugs Market - Landscape:

Novel models of preventive treatments of Schizophrenia, novel medications, pipeline therapies, technological advancements, collaborations, mergers and acquisitions, partnerships, expansions, and R&D activities are key strategies adopted by players in the Market. Schizophrenia Drugs top 10 companies include:

1. Alkermes PLC
2. Bristol-Myers Squibb
3. Eli Lilly and Company
4. Johnson & Johnson
5. Allergan PLC
6. Otsuka America Pharmaceutical Inc
7. Sumitomo Dainippon
8. Vanda Pharma
9. Pfizer
10. Lundbeck

Acquisitions/Product Launches:

• In November 2021, Alkermes plc declared dosing of the earliest subject in a phase 1 study assessing the security and tolerability of ALKS 1140 in healthy adults. ALKS 1140 is a new, investigational CoREST-selective (co-repressor of repressor element-1 silencing transcription factor) HDAC (histone deacetylase) inhibitor contender for the treatment of neurodegenerative and neurological ailments. ALKS 1140 is planned to boost functional synaptic linkages and synaptic integrity in the brain.

• In September 2021, Alkermes plc declared that it will commence receiving applications for its annual Alkermes Pathways Research Awards® program on Sept. 13, 2021. This competitive grant program is planned to back the next generation of researchers performing on the front lines to progress understanding and awareness of ailment states in the field of neuroscience. In its fourth year, the program will provide grants to early-career examiners who have displayed a dedication to assisting communities residing with schizophrenia, bipolar disorder, alcohol use disorder (AUD) or opioid use disorder (OUD).

• In August 2021, Lundbeck declared that it has extended its clinical-stage pipeline and is prepared to begin the AMULET investigation, which is planned to confirm the potential of Lu AF82422 as a treatment to curb the rate of ailment advancement of multiple system atrophy (MSA). MSA is a severe, rare, intermittent, and expeditiously crumbling neurodegenerative ailment that steadily injures brain cells. Therefore Lu AF82422 depicts a new technique for possible treatment of multiple system atrophy (MSA), which presently depicts a great and compelling unmet medical requirement.

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