Market Highlights
Schizophrenia is a chronic and severe mental disorder that affects the thinking, feeling, and behavior of the person. People with schizophrenia may be more in imagination world and lost touch with reality. Although schizophrenia is not as common as other mental disorders, the symptoms can be very disabling. The symptoms of this disease are categories in three way that are positive, negative, and cognitive.
People with schizophrenia are more prone to die earlier than the normal population. This is often due to physical illnesses, such as cardiovascular, metabolic and infectious diseases. According to WHO, in 2016, More than 50% of people with schizophrenia are not receiving appropriate care. 90% of people with untreated schizophrenia live in low and developing countries, such as India, Pakistan, etc.
Increasing prevalence of patients seeking treatment and rising demand for improved healthcare infrastructure are expected to drive the market. Moreover availability of funds and WHO initiative towards developing countries fuel the market in developing region.
The global Schizophrenia Drugs Market Size is expected to grow at a CAGR of 3.2% during the forecast period 2017-2023.
Key Players
Some of key the players in the market are Minerva Neurosciences (U.S.), Promentis Pharmaceuticals, Inc. (U.S.), Bristol-Myers Squibb (U.S.), PsychoGenics Inc. (U.S.), Vineuro Pharmaceuticals, Novartis AG (Switzerland), Merz Pharma GmbH & Co. KGaA (Germany), AbbVie Inc. (U.S.), Eli-Lilly and Company (U.S.), AstraZeneca Plc (U.K)
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Segmentation
The global schizophrenia market is segmented on the basis of by diagnosis, by treatment type, and by end user.
On the basis of the diagnosis, it is segmented into blood and urine tests, brain imaging, vision testing, and others.
On the basis of the treatment type, it is segmented into surgery, radiation therapy, medications, and others.
On the basis of the end user, it is segmented into hospitals, clinics, diagnostic centers, rehabilitation centers and others.
Regional Analysis
The Americas dominate the global schizophrenia market owing to the presence of awareness of healthcare, high healthcare spending, and increasing government support for research & development.
Europe holds the second largest share of the global schizophrenia market as result of increasing focus of various government agencies on the treatment of mental illness disease such as schizophrenia. Moreover, the growing public awareness about schizophrenia likely to boost the Europe market.
Asia Pacific is the fastest growing schizophrenia market across the globe. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government’s initiatives for research & development projected to drive the market in India, Iran, Pakistan, Tanzania, over the forecasted period. Additionally, WHO initiative for training primary health-care personnel, providing access to essential drugs, and supporting families in providing home care lead the market growth of the schizophrenia in the region.
The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market.
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