The global schizophrenia market size was valued at around USD 7,666 million in 2021 and is anticipated to reach USD 11,056 million by 2030, expanding at a CAGR of around 4.1% during the forecast period, 2022 – 2030. The growth of the market is attributed to the rising cases of schizophrenia around the globe.
The World Health Organization (WHO) describes schizophrenia as substantial impairments in the way reality is perceived by individuals. It is considered as a chronic and serious mental disorder in which individuals interpret reality in abnormal way. It affects thoughts, behavior, and feelings of an individual. An individual suffering from schizophrenia had difficulties between reality and fantasy. Some of the symptoms of Schizophrenia includes delusions, hallucinations, social withdrawal, difficulty in paying attention, and others.
Psychiatrists and psychologists diagnose schizophrenia with blood tests, MRI scans, physical tests, psychiatric evaluations, and others. After the diagnosis, psychiatrists suggest methods of treatment for the disease. Individua suffering from schizophrenia require lifelong treatment. The treatment methods include different types of psychotherapies including cognitive behavior therapy, individual therapy, social skills training, and others, medication such as second-generation antipsychotics, and other therapeutic drugs. Early diagnosis and treatment aid individuals to get symptoms of the disease under control before any serious complications arise and to improve the long-term outlook.
Market Trends, Drivers, Restraints, and Opportunities
- Rapidly changing lifestyle is expected to drive the global schizophrenia market during the forecast period.
- Increasing consumption of alcohol, narcotics, and others is anticipated to boost the market in the coming years.
- Increasing expenditure and investments in mental health spurs the market.
- Surging chronic ailments around the globe are expected to drive the market during the projected period.
- Lack of awareness regarding schizophrenia in developing countries is anticipated to hamper the growth of the market during the forecast period.
- High cost of treatments for schizophrenia restrains the market.
- Growing demand for improved healthcare infrastructure and services offer growth opportunities to the key market players.
Scope of the Report
The report on the global schizophrenia market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
|
Details
|
Report Title
|
Schizophrenia Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
Base Year
|
2021
|
Historic Data
|
2019–2020
|
Forecast Period
|
2022–2030
|
Segmentation
|
Types (Catatonic Schizophrenia, Paranoid Schizophrenia, Undifferentiated Schizophrenia, Hebephrenic Schizophrenia, Residual Schizophrenia, and Others), Diagnosis (Physical Examination, Psychiatric Evaluation, and Tests & Screenings), Treatments (First-generation Antipsychotics, Second-generation Antipsychotics, Third-generation Antipsychotics, Psychotherapies, and Other Therapeutic Drugs), and Routes of Administrations (Injectables and Oral)
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
Key Players Covered in the Report
|
Johnson & Johnson Services, Inc.; Karuna Therapeutics; Bristol-Myers Squibb Company; AstraZeneca; Otsuka Holdings Co., Ltd.; Alkermes; Eli Lilly and Company; Pfizer, Inc.; Sumitomo Dainippon Pharma Co., Ltd.; Mayo Foundation for Medical Education and Research (MFMER); Allergan, Plc; Novartis AG; PsychoGenics, Inc.; Merz Pharma GmbH & Co.; and Others
|
Market Segment Insights
Paranoid schizophrenia drives the market
Based on types, the market is divided into catatonic schizophrenia, paranoid schizophrenia, undifferentiated schizophrenia, hebephrenic schizophrenia, residual schizophrenia, and others. The paranoid schizophrenia segment is expected to boost the market during the forecast period, as it is considered as a common type of schizophrenia. Changing lifestyle, growing stress, and increasing cases of drug abuse aid in the expansion of the segment.
Psychiatric evaluation segment boosts the market
In terms of diagnosis, the market is segregated into physical examination, psychiatric evaluation, and tests & screenings. The psychiatric evaluation segment is projected to drive the market during the forecast period, as it is considered as a reliable method to diagnose schizophrenia. Through psychiatric evaluation, doctors observe patients for symptoms for schizophrenia such as hallucinations, delusions, catatonic behavior, disorganized speech, and negative symptoms such as lack of pleasure, withdrawal, diminished emotional expression, and others.
Second-generation antipsychotics segment holds a key market share
On the basis of treatments, the market is divided into first-generation antipsychotics, second-generation antipsychotics, third-generation antipsychotics, psychotherapies, and other therapeutic drugs. The second-generation antipsychotics segment is estimated to expand at a significant pace during the forecast period, as they are considered to aid in curing some or all of the symptoms of schizophrenia. The second-generation antipsychotic drugs such as Risperdal (Risperidone), Seroquel (Quetiapine), Zyprexa (Olanzapine), Geodon (Ziprasidone), and others are commonly prescribed by doctors to treat schizophrenia.
Injectables segment expands rapidly
In terms of routes of administrations, the market is bifurcated into injectables and oral. The injectable segment is projected to fuel the market during the forecast period, owing to its high efficiency and lower chances of hospitalization. Continuous advancements in treatment methods aids in the expansion of the segment. The oral segment is anticipated to boost the market during the forecast period, as they are considered as the first-line of treatment for schizophrenia, and they are easily available.
North America dominates the market
Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to register a significant CAGR during the forecast period, due to increasing cases of schizophrenia and rising demand for treatment for schizophrenia in the region. Growing geriatric population, advanced medical care, and early treatment capabilities aid in the expansion of the market in North America. Rising population and increasing cases of mental illness in countries such as Singapore, Japan, and Hong Kong are anticipated to drive the market in Asia Pacific in the coming years.
Segments
The global schizophrenia market has been segmented on the basis of
Types
- Catatonic Schizophrenia
- Paranoid Schizophrenia
- Undifferentiated Schizophrenia
- Hebephrenic Schizophrenia
- Residual Schizophrenia
- Others
Diagnosis
- Physical Examination
- Psychiatric Evaluation
- Tests & Screenings
Treatments
- First-generation Antipsychotics
- Second-generation Antipsychotics
- Third-generation Antipsychotics
- Psychotherapies
- Other Therapeutic Drugs
Routes of Administrations
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Johnson & Johnson Services, Inc.
- Karuna Therapeutics
- Bristol-Myers Squibb Company
- AstraZeneca
- Otsuka Holdings Co., Ltd.
- Alkermes
- Eli Lilly and Company
- Pfizer, Inc.
- Sumitomo Dainippon Pharma Co., Ltd.
- Mayo Foundation for Medical Education and Research (MFMER)
- Allergan, Plc
- Novartis AG
- PsychoGenics, Inc.
- Merz Pharma GmbH & Co.
- Others
Competitive Landscape
The schizophrenia market is competitive with the presence of key players such as Johnson & Johnson Services, Inc.; Karuna Therapeutics; Bristol-Myers Squibb Company; AstraZeneca; Otsuka Holdings Co., Ltd.; Alkermes; Eli Lilly and Company; Pfizer, Inc.; Sumitomo Dainippon Pharma Co., Ltd.; Mayo Foundation for Medical Education and Research (MFMER); Allergan, Plc; Novartis AG; PsychoGenics, Inc.; Merz Pharma GmbH & Co.; and others, who use strategies such as product launches, mergers, collaborations, partnerships, and acquisitions to strengthen their hold on the market. For example, in June 2020, announced the positive outcome of meeting with the US Food and Drug Administration (FDA) for its product KarXT, which works as an Acute Psychosis treatment for patients suffering from schizophrenia. In November 2020, Johnson & Johnson Services, Inc. submitted a supplemental new drug application for paliperidone palmitate to the US FDA.