Industry Outlook and Trend Analysis
The Schizophrenia Drugs Market was worth USD 6.35 billion in the year of 2014 and is expected to reach approximately USD 8.04 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 2.65% during the forecast period. Schizophrenia is a chronic disorder of the central nervous system, influences 1.0% of the worldwide populace or seven out of 1,000 people. The confusion portrayed by side effects, for example, thought disorders, hallucinations, inability to execute day-to day functions is known to develop from a combination of chemical, environmental and genetic factors. Rising number of patients looking for treatment and rising interest for enhanced healthcare infrastructure are foreseen to drive the market. The schizophrenia market stays packed with solid neglected needs. There is a requirement for advancement for the treatment of this crippling disorder. The report examines about developing markets in the Asia Pacific region. India and China are rising as an open door for market extension. Factors, for example, useful medicinal services, increased health awareness, large aging population, and low-cost are the real driving variables for market extension in these two nations.
Therapeutic Class Outlook and Trend Analysis
The drugs that are prescribed for schizophrenia can be fragmented by therapeutic class into first, second and third-generation antipsychotics. Presently, second-generation and third-generation antipsychotics remain the standard of care in the schizophrenia treatment market. The report features brands recommended for the treatment of schizophrenia, for example, Saphris, Zyprexa, Abilify, Seroquel, Vraylar, Saphris, Aristada, Fanapt among others. Long-Acting Injectables (LAIs) are progressively being produced as they offer a few points of interest, for example, diminished hospitalizations and enhanced treatment result. The variables limiting the development of worldwide schizophrenia drugs market would be strict control around new product endorsements and rising generic dispatches.
Regional Outlook and Trend Analysis
Japan is assessed to encounter the speediest development over the conjecture time frame because of enhanced healthcare infrastructure, increasing awareness about early diagnosis, rising disposable income, and accessibility of successful treatment. The worldwide schizophrenia drugs market will be driven by the developing awareness about mental issue, expanded use on medicinal services and accessibility of powerful treatment strategies with interest for tailored and target specific medications.
The leading players in the market are Eli Lilly and Company, Bristol-Myers Squibb, Dainippon Sumitomo Pharma Co Ltd, Vanda Pharma, Johnson & Johnson, Alkermes, Allergan and AstraZeneca. Johnson & Johnson, Otsuka and Lundbeck are concentrating on developing the schizophrenia therapeutics market for Long-Acting Injectables and are anticipated to possess tremendous position in the schizophrenia therapeutics market.
The Schizophrenia Drugs Market is segmented as follows-
By Therapeutic Class:
Aristada (Aripiprazole Lauroxil)
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?