Global Schizophrenia Drug Market Insights Forecasts to 2030

• The Schizophrenia Drug market was valued at USD 9.1 billion in 2021.
• The market is growing at a CAGR of 3.3% from 2022 to 2030
• The global Schizophrenia Drug market is expected to reach USD 11.80 billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

The global Schizophrenia Drug market is expected to reach USD 11.80 billion by 2030, at a CAGR of 3.3% during the forecast period 2022 to 2030.

Market Overview

Schizophrenia is a mental condition in which people see reality improperly. Common symptoms include hallucinations, delusions, and profoundly disturbed thought and behaviour that interfere with daily functioning and can be devastating. Despite possibly starting earlier in men, this disease affects both sexes equally. Due to the prevalence of co-occurring illnesses, such as diabetes and heart disease, patients with schizophrenia are more likely to pass away at a young age. Early adulthood is when the symptoms start to show up. Early symptoms in males are encountered in their late teens or early 20s whereas women tend to display first signs of the condition in their 20s and early 30s. Schizophrenia is a mental illness that is treated with medication. These medications affect the brain's chemical imbalance. Second-Generation Antipsychotics, Third-Generation Antipsychotics, and Others are the three classes of medications used to treat schizophrenia. It is divided into Oral and Injectables depending on the treatment.

Report Coverage

This research report categorizes the market for Schizophrenia Drug market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Schizophrenia Drug market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Schizophrenia Drug market.

Driving Factors

High unmet medical needs and rising investment for research & development are the main factors fueling the expansion of the schizophrenia market. The market for schizophrenia has grown as a result of the development of novel, cutting-edge medications with enhanced efficacy and safety profiles. Moreover, agreements and collaborations between pharmaceutical firms, academic institutions, and government agencies to develop and sell novel treatments are projected further to fuel the market expansion of the schizophrenia. The market CAGR is therefore being driven by this factor. The fundamental causes of schizophrenia are now better understood because to developments in the fields of neuroimaging, genetics, and neurochemistry, which have also cleared the path for the creation of new, more potent medications. The industry is also expanding as a result of the expansion in public-private partnerships, investments in R&D, and helpful reimbursement laws in many nations.

Restraining Factors

These medications' side effects, which could stifle the global market and function as market barriers, include tardiveness, sexual issues, dizziness, constipation, nausea, blurred vision, low blood pressure, seizures, and a low white blood cell count.

Market Segmentation

• In 2021, the Second Generation segment is dominating the market with the largest market share over the forecast period.

On the basis of therapeutic class, the global Schizophrenia drug market is segmented into second-generation antipsychotics, third-generation antipsychotics. Among these, the second generation segment is dominating the market with the largest market share over the forecast period. Second-generation antipsychotics are expected to generate the highest revenue during the forecast period as they are more effective and safer than first-generation drugs. The development of second- and third-generation drugs, also known as a typical antipsychotics, was motivated by the need to address the serious side effects of first-generation drugs, which often worsened the patient's condition.

• In 2021, the Paranoid Schizophrenia segment holds the highest market share over the forecast period.

On the basis of type, the global schizophrenia drug market is segmented into paranoid schizophrenia, hebephrenic schizophrenia, catatonic schizophrenia and undifferentiated schizophrenia. Among these, the paranoid schizophrenia segment holds the highest market share over the forecast period. A subtype of schizophrenia known as paranoid schizophrenia is characterised by symptoms like auditory hallucinations and delusions of grandeur or persecution. The high frequency of paranoid schizophrenia among patients and the rising desire for efficient treatment alternatives can be blamed for schizophrenia's dominant market share in 2022.

• In 2021, the injectables segment is witnessing the fastest market share over the forecast period.

Based on the route of administration, the global schizophrenia drug market is segmented into oral, and injectables. Among these, the injectables segment is witnessing the fastest market growth. The likelihood of relapses, which is a key concern for patients and healthcare professionals, is decreased by the injectable form of schizophrenia medications. These LAIs ensure that the medication stays in the body for a longer period of time, lowering the risk of cognitive and brain damage from relapses. They do this by preventing non-adherence to medications. This is a significant benefit of the injectable form of schizophrenia medications and is anticipated to fuel the market's expansion over the forecast period.

Regional Segment Analysis of the Schizophrenia Drug Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is dominating the market with the largest market share over the forecast period.

The market for schizophrenia in North America is anticipated to develop at a considerable CAGR over the research period. The market for schizophrenia is anticipated to develop due to the region's ageing population, strong healthcare infrastructure, and high healthcare spending. Moreover, favourable regulatory environments, a high demand for innovative and improved therapies, and an increased focus on research and development activities are all propelling market expansion in North America.

Recent Developments

• In June 2021, the FDA's clearance of LYBALVI was a big step for Alkermes plc because it allowed the company to expand its line of CNS disease treatments and aid patients with schizophrenia and bipolar disorder who had unmet needs.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global Schizophrenia Drug market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Johnson & Johnson Services, Inc.
• Bristol-Myers Squibb Company
• Otsuka Holdings Co. Ltd.
• AstraZeneca
• Eli Lilly and Company
• Alkermes
• Sumitomo Dainippon Pharma Co. Ltd.
• Pfizer Inc.
• VANDA PHARMACEUTICALS
• Mayo Foundation for Medical Education and Research (MFMER)
• Allergan
• H. Lundbeck A/S
• AVINEURO PHARMACEUTICALS
• Gedeon Richter plc
• Astellas Pharma Inc.
• Novartis AG
• AbbVie Inc.
• PsychoGenics Inc.
• Merz Pharma

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global Schizophrenia Drug market based on the below-mentioned segments:

Schizophrenia Drug Market, By Therapeutic Class

• Second-generation antipsychotics
• Third-generation antipsychotics

Schizophrenia Drug Market, By Type

• Paranoid schizophrenia
• Hebephrenic schizophrenia
• Catatonic schizophrenia
• Undifferentiated schizophrenia

Schizophrenia Drug Market, By Route of Administration

• Oral
• Injectable

Schizophrenia Drug Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa