Schizophrenia is a chronic mental disorder that affects how a person thinks, feels, and acts. Individuals with schizophrenia may find it difficult to distinguish between what is real and what is imaginary, may be unresponsive at times. Also, individuals that are affected by schizophrenia may have difficulty expressing normal emotions in various social situations. The exact cause of schizophrenia is unknown, but some theories about the cause include; genetics (heredity), biology (abnormalities in brain’s chemistry or structure); and/or possible viral infections and immune disorders. The treatments for schizophrenia include: antipsychotics, and specialty care.
Presence of high number of pipeline rugs for schizophrenia treatment is expected to boost growth of the global schizophrenia drugs
Increasing incidence of schizophrenia in developed economies, growing awareness among individuals about treatments for schizophrenia, and increasing popularity among individuals for long-acting injectable (LAI) antipsychotics are key factors driving growth of the global schizophrenia drugs market. In addition, relatively high number of pipeline drugs, and availability of cost effective generic schizophrenia drugs are other factors expected to boost growth of the global schizophrenia drugs market over the forecast period.
However, high cost of therapies for treatment of schizophrenia, and side effects caused by intake of generic schizophrenia drugs are major factors restraining growth of the global schizophrenia drugs market. Additionally, lack of appropriate healthcare infrastructure in emerging economies, and high cots in R&D of schizophrenia drugs are other factors expected to hamper growth of the global schizophrenia drugs market over the forecast period.
The global schizophrenia market report has been segmented on the basis of therapeutic class, treatment, and region. On the basis of region, the global schizophrenia drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in North America dominates the global schizophrenia market in revenue terms owing to presence of a large patient pool, and availability of appropriate healthcare infrastructure in countries in the region. The market in Europe accounted for second-highest revenue share in the global schizophrenia market, due to high healthcare expenditure by governments of countries, and increasing awareness about mental disorders, followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to have fastest growth in terms of revenue, owing to presence of a large patient pool, and availability of generic drugs for schizophrenia treatment in the region.
Prominent players in the global schizophrenia drugs market include Johnson & Johnson Services, Inc., Otsuka Holdings Co., Ltd./Bristol-Myers Squibb Company, AstraZeneca, Dainippon Sumitomo Pharma Co., Ltd., Alkermes, Eli Lilly and Company, Vanda Pharmaceuticals Inc., Allergan plc, and Pfizer Inc.