The global schizophrenia drugs market size was valued at USD 8.1 billion in 2020, which is expected to reach USD 9.28 billion by 2027, registering a CAGR of 2.3% over the forecast period (2021-2027). Schizophrenia is a mental disorder in which people interpret emotions, thoughts, and reality abnormally. Major symptoms of schizophrenia include delusions, hallucinations, and thought disorders. The adoption of the method of polypharmacology for the development of new drugs for psychiatric disorders is trending in the schizophrenia market.
Factors Affecting the Schizophrenia Drugs Industry over the Forecast Period
Growing insurance claims for mental health with the significant support from the governmental bodies for the treatment of a mental illness are some pivotal factors driving the market growth across the globe. Continuous rise in the patient base for mental illness due to the fast-moving lifestyle and workplace stress are other factors leading to the market growth across the globe.
However, the stringent regulations for the approval of new drugs and side effects associated with schizophrenia drugs such as anxiety, dizziness, low blood pressure, constipation, seizures may restrain the growth of the schizophrenia drugs market over the forecast period.
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Impact of COVID-19 on Schizophrenia Drugs Market
The COVID-19 pandemic will impact the market value of schizophrenia in 2020. The huge patient base suffering from schizophrenia remained undiagnosed due to fewer visits to hospitals amidst the outbreak. However, in 2021, the schizophrenia market is expected to witness a modest growth rate, backed by the huge impact of COVID-19 on people’s mental health. Therefore, a considerable rise in mental health clinics can be expected post-COVID-19 (mid-2021).
Scope of the Report
The report outlines the global schizophrenia drugs market study based on type, treatment, and route of administration.
The schizophrenia drugs market has been segmented based on type –
- Paranoid Schizophrenia
- Hebephrenic Schizophrenia
- Catatonic Schizophrenia
- Undifferentiated Schizophrenia
The schizophrenia drugs market has been segmented based on treatment –
- Second Generation Antipsychotics
- Third Generation Antipsychotics
The schizophrenia drugs market has been segmented based on the route of administration –
Schizophrenia Drugs Market Regional Outlook
Geographically, the global schizophrenia drugs market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, North America held the largest share in the schizophrenia drugs market, followed by the Asia Pacific and Europe due to highly advanced medical care and increased healthcare expenditure in the region. Moreover, Asia Pacific is expected to project the highest CAGR globally over the forecast period owing to rising disposable income and developed healthcare systems in the region.
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Key Global Schizophrenia Drugs Market Competitors Includes
The schizophrenia drugs market has a presence of a few number market players across the globe. The vital schizophrenia drugs market manufacturers operating in the global market are–
- Alkermes PLC
- Allergan PLC
- AstraZeneca PLC
- Biogen Inc.
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- H. Lundbeck A/S
- Johnson & Johnson Services, Inc.
- Lupin Ltd.
- Merck & Co., Inc.
- Otsuka Pharmaceuticals Co., Ltd.
- Pfizer Inc.
- Sumitomo Dainippon Pharma Co. Ltd.
- Teva Pharmaceutical Industries Ltd.
- Vanda Pharmaceuticals Inc.
The schizophrenia drugs tools market report thoroughly analyzes macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
Schizophrenia Drugs Market Report Covers Comprehensive Analysis On
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
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Schizophrenia Drugs Market Regional Analysis Includes
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA
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Schizophrenia Drugs Market Target Audience
- Schizophrenia drug manufacturers
- Schizophrenia drug distributors and suppliers
- Mental illness treatment centers
- Investors and trade experts
- Large, medium, and small-sized enterprises
- Trade publications and magazines
- Government authorities, associations, and organizations
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