12th September 2019 – Global Schizophrenia
Drugs Market is expected to reach USD 7.9 billion by 2022.
Schizophrenia is a serious disorder that affects how a person thinks, feels,
and acts. People suffering from schizophrenia have difficulty distinguishing
between real and reel, and expressing emotions. Schizophrenia is mainly
observed in males than in females. Antipsychotic drugs are mainly prescribed,
as they help to control symptoms like disorganized thinking, hallucinations,
and delusions by blocking specific chemicals in the brain like serotonin and
dopamine.
The antipsychotics drugs may be atypical
and typical and are available in various forms like injection, tablet, or
syrup. The symptoms involved can be positive, negative, or cognitive. The World
Health Organization (WHO) has estimated that the disease around the world
affects about 24 million people. The Schizophrenia Drugs Market is estimated to
grow at a significant CAGR of 2.5% over the forecast period as the scope and
its applications are rising enormously across the globe.
Rising occurrence of Schizophrenia
disease as changing lifestyle, high demand for enhanced therapy by patients and
physicians, developing R&D sectors with enhanced technology, and growing
addictions like narcotics and alcohol are documented as major factors of
Schizophrenia Drugs Market that are estimated to enhance the growth in the
years to come. However, high cost of therapy, side effects caused by drugs, and
lack of awareness in developing regions may restrain overall market in coming
years. Schizophrenia Drugs industry is segmented based on therapeutic class,
treatment, distribution channel, and region.
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Third-Generation Antipsychotics,
Second-Generation Antipsychotics, and other therapeutic class are explored in
Schizophrenia Drugs in the forecast period. Others segment may include generics
and First-Generation Antipsychotics. Second-Generation Antipsychotics comprises
drugs like Risperdal, Vraylar, Invega, Saphris, Zyprexa, and others. On the
other hand, Third-Generation Antipsychotics includes Aripiprazole. Second- and
Third-Generation Antipsychotics sectors account for the majority market share
and are estimated to continue its dominance in coming years. The drugs involved
in second- & third-generation help to improve the treatment outcome and
decrease the hospitalization.
Injectable and oral are the treatment
action that could be explored in Schizophrenia Drugs in the forecast period.
The market may be characterized based on distribution channels like
rehabilitation centers, hospitals comprising hospital pharmacies, retail
pharmacies, clinics, and others that could be explored in forecast period.
Globally, North America accounted for
the substantial market growth of Schizophrenia Drugs and is estimated to lead
the overall market in coming years. The reason behind the overall market growth
could be developed healthcare infrastructure and R&D sectors, rising use of
enhanced technology for the development of enhanced drugs, and rising awareness
among populace regarding the disease. The United States is a major consumer of
Schizophrenia Drugs in the region, as presence of key manufacturers mainly
generic and it affects about 1% of the population and more than 2 million
people in the U.S. alone.
Instead, Europe and the Asia Pacific are
also estimated to have a positive influence on the future growth. Europe is the
second largest region with significant market share. However, Asia Pacific is
estimated to grow at fastest pace with the highest CAGR in the foremost period.
The aspects that may be ascribed to the growth comprise growing awareness regarding
early diagnosis, developing healthcare infrastructure and R&D sectors,
increasing disposable income, and growing major manufacturers in the region.
The developing countries like India, Japan, and China are the major consumers
of Schizophrenia Drugs in the region.
The key players of Schizophrenia Drugs
Market are Pfizer, Johnson & Johnson, Allergan, Bristol-Myers Squibb/
Otsuka Pharma, Vanda Pharma, AstraZeneca, Alkermes, Sumitomo Dainippon, and Eli
Lilly. These players are concentrating on inorganic growth to sustain
themselves amongst fierce competition. As companies all over the world have to
believe that alliance with a market would permit them proportional market
existence and authority to declare the leadership position.
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