Global schizophrenia drugs market is expected to register a CAGR of around 4% over the period of 2021-2027. The schizophrenia drugs market is anticipated to grow on account of the increase in the prevalence of schizophrenia, and the rising demand for improved medication and treatment is expected to drive the market. For instance, In the U.S. alone, the disorder affects approximately 3.5 million people and about 4,000 new cases are reported every year. Also, Schizophrenia is diagnosed 1.4 times more frequently in males than females, as the onset is earlier in men. However, some of the restraints in the market include high investment costs and a lack of knowledge regarding the disorder are impeding the growth of this market all over the world.
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Based on therapeutic class, the market is classified as the second generation, third generation, and others. Amongst therapeutic classes, the second-generation category accounted for a significant share of the market. This is mainly due to their low risk of neurological side effects as compared to first-generation schizophrenia drugs.
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Based on treatment, the market is categorized into oral and injectables. Among these, the injectables segment is expected to witness the highest CAGR during the forecast period. Injectable schizophrenia medications, especially long-acting injections, are one of the most advanced types of treatment. Long-acting injections (LAI) often help eliminate the side effects of oral treatment of schizophrenia.
North America to witness extensive growth
For a better understanding of the market adoption of schizophrenia drugs market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the schizophrenia drugs industry in 2020 owing to the presence of well-established market players and the highly advanced medical care in the region.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Schizophrenia drugs market include H. Lundbeck A/S, Otsuka Pharmaceutical Co., Ltd., Janssen Pharmaceuticals, Inc., Eli Lilly and Company, AstraZeneca, ALLERGAN, Vanda Pharmaceuticals Inc., Sumitomo Dainippon Pharma Co., Ltd., Alkermes plc, Bristol-Myers Squibb Company. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
“Global Schizophrenia Drugs Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
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Market Segmentations:
1. By Therapeutic Class (Second Generation, Third Generation, and Others)
2. By Treatment (Oral and Injectables)
3. By Region (North America, Europe, Asia-Pacific, Rest of the World)
4. By Company (H. Lundbeck A/S, Otsuka Pharmaceutical Co., Ltd., Janssen Pharmaceuticals, Inc., Eli Lilly and Company, AstraZeneca, ALLERGAN, Vanda Pharmaceuticals Inc., Sumitomo Dainippon Pharma Co., Ltd., Alkermes plc, Bristol-Myers Squibb Company)
Key questions answered in the study:
1. What are the current and future trends of the global schizophrenia drugs industry?
2. How the industry has been evolving in terms of therapeutic class and treatment?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global schizophrenia drugs industry?
5. What is the customer orientation, purchase behavior, and expectations from the global schizophrenia drugs suppliers across various region and countries?
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