SchizophreniaTherapeutic Market, by Treatment (First Generation Antipsychotic Drugs andSecond Generation Antipsychotic Drugs), and by Region (North America, LatinAmerica, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook,and Opportunity Analysis, 2018 – 2026
Schizophrenia is a mentaldisorder where the patient suffers from inability to understand the reality,decreased ability of thinking, abnormal behavior, and strange speech.Furthermore, the patient suffers from reduced emotional expression, anxiety,depression or less social engagement. According to the Brain & BehaviorResearch Foundation, schizophrenia generally occurs between the ages of 16-30.Although the main cause of schizophrenia is unknown, possible reasons aregenetic, environmental factors or poor nutrition during pregnancy.
Treatment for schizophreniainclude, psychological therapies, behavioral therapies, and antipsychoticdrugs. Electroconvulsive therapies also aid in the treatment of schizophrenia.In severe cases, hospitalization is necessary for a short period of time.
Global Schizophrenia TherapeuticMarket Drivers
The global schizophreniatherapeutic market size is expected to expand, owing to increasing prevalenceof schizophrenia. In 2018, World Health Organization (WHO) reported that over23 million patients were affected by schizophrenia worldwide. Furthermore,increasing approvals of therapies with second generation antipsychotic drugssuch as Risperidone, Paliperidone, Olanzapine, and Lurasidone, which have lessside effects is also expected to drive the global schizophrenia therapeuticmarket revenue. For instance, in 2015, the U.S. Food and Drugs Administration(FDA) approved Vraylar (Cariprazine), which was tested on 1,750 patients. Thedrug showed effective reduction of symptoms in schizophrenia in less time.
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Global Schizophrenia TherapeuticRestraints
The common negligence and stigmaregarding schizophrenia is one of the major restraining factors for hamperingthe schizophrenia therapeutic market growth. For instance, in 2018, theSchizophrenia and Related Disorders Alliance of America (SARDAA) reported thataround 50% of people diagnosed with schizophrenia do not receive treatment,owing to negligence for mental health.
Moreover, the side effects causedby antipsychotics such as weight gain, dizziness, restlessness, nausea, blurredvision, low blood pressure, seizures, and constipation can also be negativegrowth rendering factor for the global schizophrenia therapeutic marketrevenue. For instance, according to National Centre for BiotechnologyInformation (NCBI) 2017 findings, obesity is affecting 15%-72% patients, 12% ofpatients are suffering from diabetes, and the prevalence of constipation is 39%in schizophrenic patients. Consumption of antipsychotics may also lead to suddencardiac death and ventricular arrhythmia.
Global Schizophrenia TherapeuticMarket Regional Analysis
North America holds dominantposition in the schizophrenia therapeutic market, owing to increasingincidences of schizophrenia and high investment in schizophrenia therapy in theregion. According to SARDAA, around 3.2 to 3.5 million people in the U.S. weresuffering from schizophrenia in 2013.
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According to the same source,around US$ 32 to US$ 65 billion are annually spent on treatment and othereconomic costs of schizophrenia in the U.S.
Asia Pacific is fastest growingregion in schizophrenia therapeutic market due to high prevalence ofschizophrenia in economies such as China and India. According to NCBI 2014data, prevalence of schizophrenia in China was 4.62 per 1000 people.Schizophrenia therapeutic market size is also expected to boost due to launchof new medicines in China. For instance, Janssen Pharmaceutical Companies ofJohnson & Johnson launched INVEGA TRINZA in 2018 for the treatment of schizophreniain China. INVEGA TRINZA is a three-month long-acting atypical antipsychoticdrug for insomnia.
Global Schizophrenia TherapeuticMarket Key Players
Key players operating in theglobal schizophrenia therapeutic market include, AstraZeneca, Bristol-MyersSquibb, Eli Lilly and Company, Johnson & Johnson, Pfizer, Sandoz CanadaInc., Intas Pharmaceuticals, Novartis AG, Otsuka Pharmaceuticals, Alkermes,Allergan (Forest Labs), and Sumitomo Dainippon Pharma.
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