Press Release

Global Schizophrenia Drugs Market to Grow at a CAGR of 5.4% During 2024-2032, Aided by the Growing Number of Clinical Trials for New Treatments of Schizophrenia

Global Schizophrenia Drugs Market

According to a new report by EMR titled, ‘Global Schizophrenia Drugs Market Report and Forecast 2024-2032’, the market attained a value of about USD 8.18 billion in 2023. The market is estimated to grow at a CAGR of 5.4% in the forecast period of 2024-2032 to reach a value of around USD 12.97 billion by 2032.

A chronic brain disease called schizophrenia impairs a person's capacity for thought, emotion, and behaviour. The patient may exhibit severely disturbed thinking and behaviour, as well as symptoms like delusions and hallucinations. The schizophrenia drugs market expansion is being driven by growing consumer awareness of mental health.

 

North America holds a significant market share for this market. According to health reports, approximately 3.7 million Americans, or 1.8% of the adult population between the ages of 18 and 65, experienced schizophrenia spectrum illnesses at some point in their lives. New drug launches and increased R&D for improvements in anti-psychotic medications contribute to the market's expansion of schizophrenia pharmaceuticals in the region.

 

Continuous research and development support the growth of the market for schizophrenia drug. In January 2024, Arkemas PLC (NASDAQ: ALKS) announced topline findings from a phase 3 open-label extension study. The study evaluated the long-term safety, tolerability, and durability of the treatment effect of LYBALVI® (olanzapine and samidorphan) in patients treated for schizophrenia, schizophreniform disorder, or bipolar I disorder for a maximum of four years after receiving treatment in earlier LYBALVI studies.

 

In the United States, LYBALVI is licenced for the treatment of adult bipolar I disorder and adult schizophrenia. 523 participants got at least one dosage of LYBALVI in open-label extension research conducted globally, and 35.9% of participants finished the four-year treatment duration. After receiving LYBALVI medication for up to four years, patients' bipolar I disorder or schizophrenia symptoms stayed stable, as indicated by the Clinical Global Impression of Severity (CGI-S) scale (mean change from baseline in CGI-S score of -0.28).

 

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Market Analysis by Therapeutic Class, Route of Administration, Distribution Channels, and Region:

  • The market, on the basis of therapeutic class, can be divided into second-generation antipsychotics and third-generation antipsychotics, among others.
  • Based on route of administration, the market can be divided into oral and injectables.
  • The various distribution channels for schizophrenia drug include hospital pharmacies, retail pharmacies, and online, among others.
  • The major regional markets for schizophrenia drug include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • In the US, schizophrenia affects 1.1% of the population, which necessitates schizophrenia drug development and expands the market growth.
  • The growing popularity of injectable-based drugs for schizophrenia, especially long-acting injectables, can be attributed to their advantages and reduced side effects. It also cancels out the side effects of oral schizophrenia drugs. UZEDY (risperidone) and INVEGA TRINZA® (paliperidone palmitate) are some of the well-known injectables.
  • The growing number of clinical trials for new treatments of schizophrenia and the growing number of industry collaborations in drug development expand the schizophrenia drugs market size. For instance, in October 2022, Royalty Pharma plc collaborated with Merck for a Phase 2b study for the treatment of schizophrenia.
  • Approximately 24 million people worldwide suffer from schizophrenia, and only about one-third of cases are properly identified. As a result, researchers are developing a novel category of medications that target different neurotransmitters in an attempt to lessen the negative symptoms of schizophrenia, such as decreased enjoyment, social interaction, and emotional expressiveness.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global schizophrenia drugs market for the periods (2017-2023) and (2024-2032).
  • The report also offers the historical (2017-2023) and forecast (2024-2032) markets for the therapeutic classes, routes of administration, distribution channels, and major regions of schizophrenia drugs.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global schizophrenia drugs market are Eli Lilly and Company, AbbVie Inc., Alkermes PLC, Otsuka Pharmaceutical Co., Ltd., Johnson & Johnson Services, Inc., Pfizer Inc., AstraZeneca, Bristol Myers Squibb, Sumitomo Dainippon Pharma Co., Ltd., and Vanda Pharmaceuticals Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Therapeutic Class
  • Route of Administration
  • Distribution Channels
  • Region
Breakup by Therapeutic Class
  • Second-generation Antipsychotics
  • Third-generation Antipsychotics
  • Others
Breakup by Route of Administration
  • Oral
  • Injectables
Breakup by Distribution Channels
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Eli Lilly and Company
  • AbbVie Inc.
  • Alkermes PLC
  • Otsuka Pharmaceutical Co., Ltd.
  • Johnson & Johnson Services, Inc.
  • Pfizer Inc.
  • AstraZeneca
  • Bristol Myers Squibb
  • Sumitomo Dainippon Pharma Co., Ltd.
  • Vanda Pharmaceuticals Inc.

 

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