Schizophrenia Drugs Market is Expected to Reach $8.3 bn by 2026
The Global Schizophrenia Drugs Market was valued at US$6.66 billion in the year 2018 and is expected to reach US$8.3 billion by 2026, at a CAGR of 2.79%.
Schizophrenia, a disorder of the central nervous system is characterized by the disorientation of thinking, emotions, perceptions, language, etc. It is classified as positive, negative and cognitive-based on behavioral aspects. Schizophrenia is prevalent among the population aged between 16 and 30. Males in their early 20s and Females in their early 40s are likely to acquire this debilitating disorder that is categorized as DSM-5. Schizophrenia affects more than 21 million population all over the world. Generally, antipsychotic medications are prescribed for treating traumatic stress disorder.
The increasing number of Schizophrenia patients, rise in the demand for quality healthcare infrastructure, targeted therapy and arrival of late-stage pipeline products and strong unmet needs are set to drive the Schizophrenia drugs market to around US$8.3 billion by the end of 2026. However, progress in the development of new drugs, patient response to the existing drug prescriptions, drug adhere by patients throughout the course of treatment, awareness about Schizophrenia in middle and low-income countries and the risk associated with lower return of investment (ROI) are the factors which are likely to hamper the growth of Schizophrenia drug market. Currently, the 2nd and 3rd generation antipsychotics contribute majorly to the market share. However, late-stage pipeline drugs, long-acting injectables, and cell-based therapies are expected to make a significant impact on market growth.
Optima Insights classifies the Schizophrenia market based on the route of administration, therapeutic class, and the region.
Schizophrenia patients are widely prescribed for medication based on the level of the disorder. Mostly oral formulations are tailored according to individual patients. But, based on the agitation levels of in-patient’s intramuscular slow-release injectables are being prescribed. Currently, there are more than twenty marketed oral therapies available for treating Schizophrenia contributing to the market share. Nevertheless, long-acting injectables are actively in development which offers better treatment outcomes, minimize hospital stays and set to change the dominating course of oral therapies with more patent expirations are said to occur for oral-based therapies. Besides, there are stringent regulations and a rise in the number of generics is set to affect market growth.
The existing drugs such as Abilify Maintena, Rexulti and Aristada are making significant inroads in generating revenue and also contributing to the market growth from 2016. It is expected that Abilify Maintena and Rexulti may touch $1 billion sales mark before the end of the sales year 2021.
North American market, especially the US comprising more than 3.3 million schizophrenic patients are said to contribute over 51% of the total market share. The major share is contributed by the generic prescriptions. European region and Asia-Pacific were the major contributors after the North American region in the year 2018. The Asia-Pacific region is developing as a lucrative market for schizophrenia treatment as countries such as China, India, and Japan contribute to increasing geriatric population and an increase in healthcare expenditure per capita with the availability of effective treatment modalities and changes in reimbursement policies across the Asian market is set to drive the market. However, the North American market is set to be lucrative during the forecast period due to the advancement in healthcare and better diagnosis and understanding of the disorder.
The recent update from clinicaltrials.gov suggests that there are more than 60 pipeline drugs that are being tested for schizophrenia at various developmental stages. With the schizophrenic population growing steadily, the drugs once approved will turn the table around and offer new opportunities for treatment. Besides, patent expirations and clinical trial failures hampering the drug development process should also be considered.
Optima Insights have listed more than 80 companies that hold marketed and pipeline drugs for schizophrenia. Of which Bristol-Myers Squibb, Eli Lilly, and Company, Johnson & Johnson, Novartis International AG, Teva Pharmaceutical Industries Ltd., Sanofi S.A., Delpor Inc, GlaxoSmithKline plc, F. Hoffmann-La Roche AG, Boehringer Ingelheim, Takeda Pharmaceutical Company Ltd, Merck (MSD), Pfizer Inc are the notable ones. More than 50 companies have been classified as new market entrants. The companies have started focusing more on developing 3rd generation therapies and more focus and funding are going into developing long-acting injectables as well.
Schizophrenia Drugs Market Based on Route of Administration (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
Schizophrenia Drugs Market Based on Therapeutic Class (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- Third-Generation Antipsychotics
- Second-Generation Antipsychotics
- First-Generation Antipsychotics
Schizophrenia Drugs Market Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
Schizophrenia Drugs Market Competitive Analysis (Company Overview, SWOT Matrix, Financial, Product Overview, and Market Strategies)
- GlaxoSmithKline Plc
- Bristol-Myers Squibb
- Eli Lilly and Company
- Johnson & Johnson
- Novartis International AG
- Teva Pharmaceutical Industries Ltd.
- Sanofi S.A.
- Delpor Inc
- F. Hoffmann-La Roche AG
- Boehringer Ingelheim
- Takeda Pharmaceutical Company Ltd
- Merck (MSD)
- Pfizer Inc
- Provides detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
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The Report Provides Key Insights on
- History of the Schizophrenia Drugs Market, 2015 to 2017
- Forecast of the Schizophrenia Drugs Market Growth till the year 2026
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Schizophrenia Drugs Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
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