Schizophrenia Market Report and Forecast 2024-2032

Schizophrenia Market Size

The schizophrenia market size was valued at USD 7.78 billion in 2023, driven by the rising prevalence of schizophrenia and heightened awareness surrounding mental health disorders across the 8 major markets. The market is expected to grow at a CAGR of 5.80% during the forecast period of 2024-2032, with the values likely to rise from USD 8.23 billion in 2024 to USD 12.92 billion by 2032.

Schizophrenia Market Outlook

• The factors driving the schizophrenia market include the increased occurrence of schizophrenia and improving mental health awareness.

• In December 2023, Bristol Myers Squibb acquired Karuna Therapeutics to enhance its neuroscience business segment. This acquisition, coupled with the launches of new drugs like KarXT, shows that there has been rising interest in the development of better and more effective treatments for schizophrenia.

• The United States holds a significant market share as it has the highest healthcare expenditure, well-developed healthcare facilities, and a high emphasis on investing in research and development.

Schizophrenia Market Overview

Schizophrenia is a psychological disorder that describes a series of abnormalities in behavior, thinking, emotional response, and social interaction. It requires a range of therapeutic interventions, such as antipsychotics and psychosocial treatments, to enhance the standard of living. Time and appropriate management strategies are critical if better results are to be obtained. This has resulted in mergers and acquisitions among key players in the market to satisfy the increasing needs of the population for new therapeutic agents.

Schizophrenia Market Growth Drivers

Rising Prevalence of Schizophrenia Drive the Market in the Forecast Period 

Schizophrenia is one of the ten leading causes of life disability, and it occurs in approximately 1% of the world population. This has led to a higher expectation of better treatments and health care services. Both the pharmaceutical industry and healthcare providers are now focusing their efforts on the development of better ways of managing symptoms as well as enhancing the quality of the lives of patients.

Schizophrenia Market Trends

Recent Developments in Schizophrenia Market

In December 2023, Bristol Myers Squibb (BMS) acquired Karuna Therapeutics for USD 14 billion to strengthen its neuroscience division. The acquisition focuses on the development of KarXT, a novel M1/M4 muscarinic receptor agonist, for the treatment of schizophrenia and Alzheimer’s disease psychosis. The drug is planned to be introduced into the United States market in late 2024 for the treatment of schizophrenia in adults.

In January 2023, Newron Pharmaceuticals S.p.A provided six-month interim data from a clinical trial conducted in Italy concerning the use of evenamide as an add-on treatment option for schizophrenia patients who failed to respond to first-line antipsychotics. The trial involved 100 patients, and all of them noticed improvements in the symptoms of treatment-resistant schizophrenia (TRS) after the six-month trial and a doubling of improved conditions in comparison with the outcome of the six-week trial. This was assessed using the Positive and Negative Syndrome Scale (PANNS) and Clinical Global Impression of Severity (CGI-S), which also revealed positive, statistically significant improvements. The therapy was side-effect-free and was an important sign of a better approach to TRS.

Schizophrenia Market Segmentation

Market Breakup by Type

• Paranoid Schizophrenia

• Hebephrenic Schizophrenia

• Catatonic Schizophrenia

• Undifferentiated Schizophrenia

Market Breakup by Drug Class

• First Generation Antipsychotics
  • Chlorpromazine
  • Fluphenazine
  • Haloperidol
  • Perphenazine
  • Others

• Second Generation Antipsychotics
  • Aripiprazole
  • Cariprazine
  • Brexpiprazole
  • Aripiprazole Lauroxil
  • Others
• Others

Market Breakup by Route of Administration

• Oral

• Parenteral

• Others

Market Breakup by Gender

• Male

• Female

Market Breakup by Distribution Channel

• Retail Pharmacies

• Hospital Pharmacies

• Others

Market Breakup by Region

• United States

• EU-4 and the United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom

• Japan

• India

Schizophrenia Market Share 

The Oral Route is Anticipated to Have the Largest Market Share Based on the Route of Administration

Based on the route of administration, the schizophrenia market is divided into oral, parenteral, and others. The oral route is expected to dominate the market because of its better patient acceptance. They are easier to take than injectable medicines and, hence, promote patient compliance.

Males Lead the Market Share Based on Gender

Based on gender, the schizophrenia market is divided into male and female, with the male segment leading due to a higher prevalence of schizophrenia in males compared to females. This gender difference affects the present market scenario for schizophrenia by promoting the need for therapeutic strategies. The pharmaceutical industry and healthcare sectors are targeting men’s health in research to enhance health solutions with the view of providing better treatments for this specific audience.

Schizophrenia Market Analysis by Region

Based on regional segmentation, the schizophrenia market is categorized into key regions including the United States, EU-4 (Germany, France, Italy, Spain), and the United Kingdom, Japan, and India. Among these, the United States holds the largest market share because of factors including a high percentage of healthcare spending, advanced healthcare systems, a high level of investment in research and development, and a comparatively higher incidence of schizophrenia than other parts of the world. The well-developed pharmaceutical industry in the United States concentrates on the creation of new products for schizophrenia treatment. This dominance affects the present market situation in various ways, such as by affecting global treatment protocols, clinical research, and the incorporation of new therapeutic regimes.

Leading Players in the Schizophrenia Market

The key features of the market report comprise patent analysis, grants analysis, clinical trials analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:

Bristol-Myers Squibb Company

Founded in 1887 and based in New York, United States, the company provides schizophrenia medications including Abilify Maintena used for maintenance treatment and the Otsuka collaboration products including Rexulti employed to handle several parameters of schizophrenia.

AstraZeneca PLC

This England-based pharma company, founded in 1999, offers drugs including Seroquel (quetiapine) which is prescribed for schizophrenia and bipolar disorder with the intent to mitigate manifesting symptoms and enhance the patient’s quality of life.

Eli Lilly And Company

An American company, established in 1876, it is involved in the treatment of schizophrenia through drugs including Zyprexa(olanzapine), aimed at controlling certain aspects of the disease.

Sumitomo Pharma Co Ltd

It is a Japanese pharmaceutical company founded in 1897. It contributes to schizophrenia treatment with products such as Risperdal, which is applied for stabilizing schizophrenic symptoms and enhancing the functional status of the patients.

Other companies include Johnson & Johnson Services, Inc., Pfizer, Inc., Vanda Pharmaceuticals, Allergan, Inc., H. Lundbeck A/S, Alkermes plc, AbbVie Inc., Acadia Pharmaceuticals Inc., Boehringer Ingelheim International GmbH, Reviva Pharmaceuticals Holdings, Inc., and Newron Pharmaceuticals Inc.

Kindly note that this only represents a partial list of companies, and the complete list has been in the report.

Key Highlights of the Report

Key Questions Answered in the Schizophrenia Market

• What was the schizophrenia market value in 2023?
• What is the schizophrenia market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What are the major factors aiding the schizophrenia market demand? 
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• What are the major schizophrenia market trends?
• How does the rise in the geriatric population impact the market size?
• Who are the key players involved in the schizophrenia market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?
• What is the market segmentation based on type?
• What is the market breakdown based on drug class?
• What is the market segmentation based on the route of administration?
• Which route of administration (oral, parenteral, others) is preferred by patients and why?
• What is the market breakup based on gender?
• What is the incidence rate of schizophrenia in males versus females, and how does it impact market strategies?
• What is the market breakup based on the distribution channel?
• Which region is expected to lead the schizophrenia market, and what are the contributing factors