Schizophrenia Drugs Market Size, Analysis, Key Segments, Share, Research Report and Forecast 2031 | Alkermes, Vanda Pharmaceuticals, Takeda Pharmaceuticals

The global schizophrenia drugs market size was US$ 7.1 billion in 2021. The global schizophrenia drugs market size is estimated to reach US$ 11.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.

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Schizophrenia is a long-term, extreme mental disorder that impacts the way an individual thinks, senses reality, acts, and expresses feelings relates to others. Although schizophrenia is not as familiar as different significant mental conditions, it can be disabling and chronic.

Factors Influencing Market Growth

The rise in the majority of schizophrenia and mental disorders and the increase in awareness regarding mental health boosts the overall market growth.
The increase in mental health awareness programs by non-government and government associations propels the expansion of the global market.
The rise in the geriatric population drives the overall market expansion.
Growth in research and development activity for improvements in product launches, anti-psychotic drugs, and product authorizations propels the expansion of the overall market.

Effect of the COVID-19 Pandemic

COVID-19 impacted negatively the overall market expansion owing to the stringent lockdowns in several nations. COVID-19 makes tough conditions for the pharmaceutical industry to focus on research and development activities including the expansion of schizophrenia drugs. Thus, hindering the overall market growth. Furthermore, product launches and approvals are getting postponed due to the pandemic condition which also limits the development of the global market.

Regional Insights

North America recorded the highest market share in 2021 and is anticipated to lead the overall market during 2022-2030. Due to the awareness regarding mental issues, growing product launches, and the existence of essential players in the region.

Asia-Pacific is anticipated to record substantial growth, due to an increase in awareness of the mental condition, growth in healthcare infrastructure, and an increased population base.

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Leading Competitors

The prominent players in the global schizophrenia drugs market are:
Alkermes
Vanda Pharmaceuticals
Takeda Pharmaceuticals
Sumitomo Dainippon
Minerva Neurosciences
Novartis AG
Johnson & Johnson
Eli Lilly
AstraZeneca
AbbVie
Others

Segmentation Analysis

The global schizophrenia drugs market segmentation focuses on Treatment, Distribution Channel, Therapeutic Class, and Region.

Segmentation on the basis of Treatment
Injectable
Oral

Segmentation on the basis of Distribution Channel
Online Pharmacies
Hospital Pharmacies
Retail Pharmacies

Segmentation on the basis of Distribution Channel
Third Generation
Second Generation
Other

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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Key questions answered in the global market report are:

-- How does a global company acquire markets?
-- What are its core strategies and policies?
-- What factors will influence the market over the forecast period?
-- What are the factors driving and restraining the market?
-- What are the leading competitors in the global market?
-- Which region is growing at a higher pace in the global market?

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