Global Schizophrenia Drugs Market Report and Forecast 2024-2032

Global Schizophrenia Drugs Market Outlook

The value of the global schizophrenia drugs market was USD 8.18 billion in 2023, driven by the prevalence of schizophrenia across the globe. The market is expected to grow at a CAGR of 3.9% during the forecast period of 2024-2032 to reach value of USD 11.56 billion by 2032.

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Global Schizophrenia Drugs Market Trends

Schizophrenia is a chronic brain disorder that affects a person’s ability to think, feel, and act. The patient can experience symptoms such as hallucinations, delusions, and show extremely disordered thinking and behaviour that may hinder their daily activities.

Rising Prevalence of Mental Disorders

With the growing geriatric population, the number of cases of mental disorders is increasing as old people are more prone to such diseases.

Increasing Adoption of Long-Acting Injectables

Long acting injectables are growing in adoption due to concerns related to non-adherence to oral schizophrenia medication and the potential for relapses and psychotic symptoms. LAIs have a lower rate of non-adherence as they have fewer adverse effects compared to oral medications.

Increasing Efforts in Research and Development for Drug Development

Manufacturers have increased their research and development activities with the rise in the number of clinical trials in support of the development of novel treatments for schizophrenia.

Increasing Utilisation of Single-Cell Screening to Offer Lucrative Opportunities to the Market

Healthcare companies are innovating medication manufacturing by utilising high-content single-cell screenings. The development of new potential drugs would be done on a live cellular function model, which will help manufacturers to develop drugs in less time and at effective pricing.

Major Issues with Non-Adherence of Oral Drugs Can Challenge the Market Growth

Majority of the currently available oral drugs for schizophrenia have limited efficacy and can result in negative symptoms with a possibility of relapse in case of non-adherence. Some case may even show severe consequences.

Market Analysis

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Based on therapeutic class, the market can be segmented into second-generation antipsychotics and third-generation antipsychotics, among others. Based on treatments, it can be bifurcated into oral and injectables. Based on distribution channels, they can be divided into hospital pharmacies, retail pharmacies, and online, among others. The regional markets for the schizophrenia drugs market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global schizophrenia drugs market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans. 

• Eli Lilly and Company

• AbbVie Inc.

• Alkermes PLC

• Otsuka Pharmaceutical Co., Ltd.

• Johnson & Johnson Services, Inc.

• Others

Treatments in the Global Schizophrenia Drugs Market 

Based on treatment, the market for schizophrenia drugs can be bifurcated into oral and injectables. With the development of new key products for the treatment of schizophrenia as a result of the growing number of people suffering from the disease, the injectable segment is expected to hold a major share of the market.

Additionally, several key players in the market have started making substantial investments in research and development for novel treatment solutions.

Injectable-based schizophrenia medications, particularly long-acting injectables, are increasingly gaining popularity owing to their benefits and fewer adverse effects. They also help in suppressing the drawbacks associated with oral treatments. This development in schizophrenia drugs can help the market to grow further with improved patient outcomes and fewer relapses.

Distribution Channels for Schizophrenia Drugs

Based on distribution channels, the market bifurcations include hospital pharmacies, retail pharmacies, and online, among others.

The hospital pharmacy segment is expected to dominate the market, owing to the existence of trained psychiatrists who continue to operate in large hospitals and an increasing number of people with schizophrenia, as well as the increase of long-acting injectables, which physicians may utilise in their normal practice.

Following the hospital pharmacy, the online segment is expected to register the highest CAGR owing to the rapid expansion of internet services and smart devices around the world. People are also shifting towards online services due to the convenience of filling up prescriptions from home.

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Competitive Landscape

Eli Lilly and Company is a pharmaceutical company based in the United States, with their headquarters in Indiana. They distribute their products in approximately 125 countries. The company has been in service since 1876. The company works on multiple diseases including Alzheimer’s, Cancer, Diabetes, Immunology, Obesity, and Pain.

AbbVie Inc. is an American pharmaceutical research and development company, which was founded in 2013. They provide therapeutic services for various areas of disease such as neuroscience, virology, oncology, immunology, and eye care. The company is increasingly invested to develop and deliver new medications.

Alkermes PLC is one of the key global biopharmaceutical companies, which was founded in 1987 and is headquartered in Ireland. The company is engaged in the development of innovative medicines in the medical field of neuroscience and oncology.

Other Key players include Otsuka Pharmaceutical Co., Ltd., and Johnson & Johnson Services, Inc., among others.

Key Highlights of the Report

Schizophrenia Drugs Market Report Snapshots

Schizophrenia Drugs Market Size

Schizophrenia Drugs Market Analysis

Schizophrenia Drugs Trends

Schizophrenia Drugs Treatment Companies