The global schizophrenia drugs market is projected to exhibit a modest growth, at a CAGR of around 2.7%,during the forecast period. There has been a rise in stress management and mental health awareness initiatives across the globe. The need for these awareness programs is necessary as well due to the increasing level of mental disorders due to high stress in individuals. There are various organizations and educational institutions such as ALAS Pro Salud Mental and Stanford University that have taken immense steps to spread awareness programs. These programs are assisting individuals to notice behavior change and other stress-related symptoms in their daily lives on accounts of which the demand for schizophrenia drugs is expected to increase in the near future.
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Mental health conditions have concerned various organizations and one of them is WHO. According to WHO, the status of mental health care varies widely from one country to another country. Many countries already have policies to deliver services for mental health conditions in primary care settings; however, they require system strengthening to achieve integration. Further, by 2023, the WHO Special Initiative for Mental Health is expected to increase treatment coverage for mental health conditions by ensuring access to mental health care for 100 million more people over its 5-year plan. This plan intends to contribute to the broader GPW13 targets for increasing service coverage for severe mental health conditions to 50% and reducing suicide mortality by 15%. This initiative is expected to offer growth to the schizophrenia drugs market during the forecast period.
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According to the World Economic Forum, the loss of work output due to mental health is the highest across the globe. The mental health contributes a huge 35% of total work loss due to increasing prevalence of diseases across the globe. Further, according to WHO, more than 80% of people with mental health conditions, including people with neurological and substance use disorders, are without any form of quality, or affordable mental healthcare? Hence the government is taking several initiatives taking mental health in mind to overcome the economic losses that are a result of increased stress levels. Thus, the increase in government-run initiatives to create awareness related to stress management is anticipated to drive the market growth in the near future.
Further, Stanford University launched an initiative in 2018. The initiative's goal is to establish and maintain a forum to tackle global mental health as a priority. This program would combine activities focused on global mental health in healthcare, science, sports, and education which is expected to immensely assist the growth of schizophrenia drugs market. In addition, the new program would draw together the current activities of the faculty and provide opportunities for new collaborations and initiatives. A core component of the project is the use of IT resources to extend mental health programs across the globe, taking advantage of Silicon Valley's expertise.
Global Schizophrenia Drugs Market-Segmentation
By Type
- Second-Generation Antipsychotics
- Third-Generation Antipsychotics
- Others
By Treatment
- Oral
- Injectables
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Global Schizophrenia Drugs Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- AiCure, LLC
- Alkermes PLC
- Allergan PLC
- AstraZeneca PLC
- Biogen Inc.
- Catalent, Inc.
- Eli Lilly and Co.
- Lundbeck A/S
- Indivior PLC
- Johnson & Johnson Services, Inc.
- Lupin Ltd.
- Merck & Co., Inc.
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Bioabsorbable Stents Market Is Expected To Exhibit Significant Growth Over 2031
Bioabsorbable Stents Market
Stents are defined as medical devices that are implanted into the blood vessels or other internal ducts for the treatment of blocked vessels or arteries. It is typically made up of metal mesh and remains in the body permanently or until removed via surgical intervention. A biodegradable stents on the other hand is up of biological material and dissolve or absorbed in the body and eliminated the requirement of surgery to remove stents. Bioabsorbable stents are generally made up of metals (such as iron, magnesium and zinc) or polymers. They are widely used in the treatment of coronary artery diseases and peripheral diseases. Increasing prevalence of these diseases is estimated to augment the growth of the market.
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The geriatric population is increasing very rapidly. According to WHO, in the year 2015, the total number of geriatric population across the globe was estimated to be around 900 million, up from 524 million in the year 2010. It is further estimated to reach 1.5 billion by the year 2050. These are the major factors that are indicating the increasing geriatric population across the globe. People aging more than 65 are prone to coronary artery and other chronic disease due to their weak immune system. Coronary artery disease is one of the leading causes of mortality in the US, as per American College of Cardiology Foundation. It has been demonstrated in clinical trial that drug-eluting stents (DES) have reduced in-stent restenosis significantly in contrast to bare-metal stents (BMS). However, the risk of late stent thrombosis after DES implantation remains a major concern. This may result into poor intimal healing. Though acute or threatened arterial closure is prevented by the rigid structure of BMS and DES after percutaneous coronary intervention (PCI), restoration of normal arterial function is very difficult after the procedure. This hinders the growth of the market of bioabsorbable stent and it is expected that the market will go down slowly in the near future.
The global bioabsorbable stents market has been bifurcated into North America, Europe, APAC and Rest of the World. North America is estimated to be the dominating region in the global bioabsorbable stents market followed by Europe. Increasing geriatric population along with the unhealthy lifestyle are estimated to be the major factors that are backing the growth of the market. Whereas, APAC has been estimated to be the fastest growing region during the forecast period. Rapidly developing healthcare infrastructure, medical tourism, and growing geriatric population are some of the major factors that are driving the growth of the bioabsorbable stents market in the region. The companies contributing into the growth of the global bioabsorbable market includes Abbott Vascular, Amaranth Medical Inc., Arterical Remodeling Technologies, and Arterius Limited.
Bioabsorbable Stents Market- Segmentation
By Polymer Type
- Poly (L-Lactic Acid) Plla
- Tyrosine Polycarbonate Polymer
- Poly(Caprolactone) (PCL)
- Poly (Anhydride Ester) Salicylic Acid
By Drugs
- Limus Based Drugs
- Paclitaxel
By Applications
- Coronary Artery Diseases
- Peripheral Artery Diseases
- Others
By End User
- Hospitals
- Research Centers
- Cardiac Centers
- Others
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Bioabsorbable Stents Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· Abbott Laboratories
· Amaranth Medical Inc.
· Arterial Remodeling Technologies
· Arterius Limited
· Biotronik
· Boston Scientific
· Elixir Medical Corporation
· ICON Interventional Systems
· Johnson & Johnson
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- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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