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Schizophrenia drugs market will be worth US$7.9 billion by 2022

November 20, 2017 By pharmaasia

The global schizophrenia drugs market is expected to be valued at USD 7.9 billion by 2022, as per a new report by Grand View Research, Inc. The schizophrenia market is anticipated to be collectively driven by improved drug delivery technologies, availability of Long-Acting Injectables (LAIs) and increase in patients seeking treatment. The major features assisting uptake of novel drugs would be fast onset of action, accessibility to patients, efficiency and high patient compliance.

Schizophrenia drugs market will be worth US$7.9 billion by 2022

Schizophrenia imposes a substantial burden on patients, their families and the overall society. Increasing awareness among patients and physicians in the field of mental health, particularly about schizophrenia, is likely to increase the penetration of these drugs in the market. Currently, second and third-generation antipsychotics capture a significant market share. Pipeline drugs intended to block specific subtypes of serotonin and dopamine receptors which would help minimize the symptoms, modulate increased dopamine levels and further improve memory are undergoing clinical trials.

 

The growth in schizophrenia market is anticipated to be primarily driven by the arrival of late-stage pipeline products, such as Intra-Cellular Therapies’ ITI-007 and Alkermes’ ALKS-3831 which are directed towards the treatment of negative symptoms; however, there are significant unmet needs in the schizophrenia treatment space. Poor understanding about the exact disease mechanism remains rampant, preventing the discovery of a therapeutic breakthrough. Hence, there is a need for innovation in drug delivery technologies for the treatment of this debilitating disorder.

 

Further key findings from the report suggest:

  • The global schizophrenia drugs market is segmented by therapeutic class into first, second and third-generation antipsychotics.
  • A few of the prominent players operating in this industry are Johnson & Johnson, Bristol-Myers Squibb/ Otsuka Pharma, AstraZeneca, Sumitomo Dainippon, Eli Lilly, Alkermes, Vanda Pharma, Allergan and Pfizer.
  • Several market players are expected to work upon serving the unmet market needs, identifying new targets and consequentially develop stronger drug pipelines.
  • The market share captured by generics is expected to grow by 2022, due to branded drugs losing their patent exclusivity and becoming generic.
  • Regionally, among the EU5 markets, Germany captured the second position in the global schizophrenia drugs market. Japan is expected to witness the fastest growth over the forecast period.
  • China and India are emerging as an opportunity for market expansion.
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