Schizophrenia Drugs Market Size
Schizophrenia drugs market was valued at $7.16 billion in 2021, and is estimated to reach $12.53 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
PORTLAND, OREGON, UNITED STATES, February 24, 2023 /EINPresswire.com/ — Schizophrenia drugs market was valued at $7.16 billion in 2021, and is estimated to reach $12.53 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031. Schizophrenia is a mental disorder characterized by disruptions in thought processes, perceptions, emotional responsiveness, and social interactions. The exact causes of schizophrenia are unknown however, schizophrenia can be triggered by combination of physical, genetic, psychological and environmental factors.
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Pfizer Inc., AbbVie, AstraZeneca, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Merck KGAA, Minerva Neurosciences, Novartis AG, Reliance, Sumitomo Dainippon
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/17470
The increase in prevalence of schizophrenia drives the growth of Schizophrenia Drugs Industry. For instance, in January 2022, according to report of world health organization (WHO), schizophrenia affects approximately 24 million people worldwide. The second and third-generation drugs such as aripiprazole and cariprazine are used for the treatment of schizophrenia. Furthermore, rise in number of geriatric populations drives the Schizophrenia Drugs Market growth. The old age peoples are more prone to mental disorders such as alzheimer and dementia. Thus, geriatric population signifies increase in patients of chronic diseases. For instance, according to world health organization (WHO), by 2050, the world’s population of people aged 60 years and older will reached to 2.1 billion.
The increase in prevalence of schizophrenia drives the growth of market. In addition, increase in R&D activities for development of third-generation drugs contributed in growth of market. For instance, in December, 2021, the Unichem Laboratories, a leading pharmaceutical company, received United States Food and Drug Administration (USFDA) abbreviated new drug application (ANDA) approval for its Aripiprazole tablets USP, 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg. Furthermore, Furthermore, in June, 2021, the Alkermes plc. a leading pharmaceutical company, received United States Food and Drug Administration (USFDA) approval for its LYBALVI, a once-daily, oral atypical antipsychotic composed of olanzapine, an established antipsychotic agent, and samidorphan, a new chemical entity. Thus, latest product approvals and prevalence of schizophrenia boosts the growth of this segment
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On the basis of therapeutic class, the market is classified into second-generation, third-generation and others. The second-generation segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to availability of multiple Second-generation drugs, and prevalence of mental disorders.
Based on treatment, the market is divided into oral and injectable. The oral segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to growing prevalence of schizophrenia and increase in adoption of oral anti-psychotic.
Depending on distribution channel, the market is classified into hospital pharmacy, retail pharmacy and online pharmacy. The retail pharmacy segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to increasing number of retail pharmacies and increasing prevalence of anxiety & depression.
North America accounted for a majority of the global schizophrenia drugs market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of mental disorders, new product launch in market and presence of key players in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of schizophrenia and high population base.
𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/17470
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
On the basis of therapeutic class, the second-generation segment was the highest contributor to the market in 2021.
Based on treatment, the oral segment was the highest contributor to the market in 2021.
Depending on distribution channel, the retail pharmacy segment was the highest contributor to the market in 2021.
Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
𝐎𝐮𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐏𝐫𝐨𝐯𝐢𝐝𝐞𝐬 𝐘𝐨𝐮 𝐀𝐧𝐬𝐰𝐞𝐫 𝐭𝐨 𝐁𝐞𝐥𝐨𝐰 𝐌𝐞𝐧𝐭𝐢𝐨𝐧𝐞𝐝 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧:
• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?
𝐀𝐛𝐨𝐮𝐭 𝐀𝐥𝐥𝐢𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
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