Schizophrenia Drugs Market Size, Share & Industry Analysis, By Therapeutic Class (Second Generation, Third Generation, Others), By Treatment (Oral, Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others) and Regional Forecast, 2019-2032

The global schizophrenia drugs market size was valued at USD 6.75 Billion in 2018 and is projected to reach USD 12.32 Billion by 2032, exhibiting a CAGR of 4.4% during the forecast period (2018-2032).

Schizophrenia is a severe and chronic mental disorder that affects how an individual act, thinks and feels. Schizophrenia is a major disorder which is one of the types of psychotic disorders, a group of serious mental illnesses that makes the individual unable to behave appropriately, think rationally and make sound judgments.

A person can be diagnosed with schizophrenia if the delusions and hallucinations last longer than six months and the illness while cannot be completely cured and managed effectively with proper and timely treatment. Schizophrenia treatment is composed of antipsychotic drugs and requires lifelong treatment even when the symptoms have subsided. Schizophrenia medicines often control the symptoms of the disorder by managing dopamine, a critical neurotransmitter.

In the current schizophrenia drugs market scenario, there is a need for effective medications for the treatment of schizophrenia. Some of the critical requirements of the newer and more effective drugs includes lesser chances of relapses and limited adverse reactions. Schizophrenia drugs offer, the patient the ability to lead a normal life by the effective management of symptoms and also the prevention of subsequent relapses While, at the same time, the key market leaders may improve upon their market shares due to the anticipated increase in the number of schizophrenic patients.

Schizophrenia treatment have undergone major changes over the previous decades with numerous patients transitioning to second generation and third generation drugs also known as atypical antipsychotics over the first generation drugs or typical antipsychotics. Second and third generation antipsychotics are preferred drugs due to the serious side effects associated the first generation drugs. Some of the adverse effects associated with the first generation antipsychotics included a high rate of extrapyramidal side effects such as rigidity, tremors, dystonias, akathisia and bradykinesia. For instance, tardive dyskinesia (TD) is another key side effect of the previous generation schizophrenia drugs.

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In terms of ongoing R&D, schizophrenia therapeutics market has a robust pipeline with a number of key market leaders involved in continued and persistent R&D. Despite regulatory failures and failures at various stages of the clinical trials, a number of schizophrenia drugs are at initial and advanced stages of clinical trials. For instance in July 2019, ACADIA Pharmaceuticals Inc. announced the failure of the company’s drug Nuplazid in Phase 3 of clinical trials in pursuit of the first-ever add on approval for schizophrenia.

The current schizophrenia drugs market trends are increasing efficacy and greater safety outcomes. In short, for the effective treatment of schizophrenia without any adverse reactions on the patient’s safety and well-being. Due to the greater awareness of psychiatric illnesses and especially major disorders such as schizophrenia, there is greater demand for efficient and safe schizophrenia medication.

MARKET DRIVERS

“The emergence of newer drugs such as second and third generation antipsychotics are likely to propel the global market”

In this era, there is a greater awareness regarding the mental illness and especially major mental disorder such as schizophrenia. The impact of untreated schizophrenia has tremendous and devastating debilitating effects on the patient have dramatically influenced the global schizophrenia therapeutics market growth.

A number of trends have contributed to the schizophrenia drugs market growth such as the increasing awareness regarding the mental disorders, increased medical interventions for the treatment of major mental disorders, strong and robust pipeline, increasing adoption of advanced schizophrenia therapeutics in emerging markets and the increase in the number of schizophrenia patients. Also, the healthcare institutions of a number of developed and developing countries are placing advanced greater emphasis on mental health also. For instance, in the U.S., federal and state laws require that the reimbursements for mental healthcare be at parity with the physical healthcare reimbursements.

For instance, there is a greater unmet need in terms of treatment outcomes and reimbursements in the global market. Based on the analysis of reimbursement trends, the healthcare providers are often inclined to prescribe certain generation of schizophrenia drugs for the treatment of the disorder.

“The increasing need for better and effective treatment outcomes to drive the market”

One of the other key factors expected to drive the growth of the global schizophrenia treatment market growth is the concerns associated with the non-adherence to oral schizophrenia medication and the subsequent relapse of symptoms. This has given rise to the adoption of a form of schizophrenia therapeutic products called the long acting injectable (LAIs). A number of key and recent drug approvals for schizophrenia are of the long acting injectable (LAIs) form. Based on this trends, a number of key market leaders are focusing on the development of this form of schizophrenia drugs.

Some of the advantages associated with the long acting injectable include the prevention of non-adherence to drugs by the patients and the increased stay of the medication in the body. But, the most critical aspect of the long acting injectable is that by the prevention of the non-adherence, these schizophrenia drugs are successfully able to reduce the number of relapses which often progresses towards cognitive and irreversible brain damages.

Due to these long acting injectable (LAIs) and their high efficacies, the market is anticipated to witness strong growth in the forecast period. In July 2018, the new antipsychotic drug called Perseris, an extended-release injectable form of risperidone from Indivior PLC won the FDA approval for the treatment of schizophrenia. 

SEGMENTATION

By Therapeutic Class Analysis

“The second generation segment is projected to generate the highest revenue during the forecast period.”

One of the most primary requirements for the schizophrenia treatment product is that the drug has a superior efficacy and greater safety. Over the previous decades, there was a greater dependence on the first generation drugs for the schizophrenia but at the same instance, the usage of this drugs were interlinked with a set of serious adverse reactions. These side effects often worsened the patient’s condition or prognosis. Thus, greater focus was directed towards the development of atypical antipsychotics or the second and third generation drugs, which has greater efficacy as well as substantially lesser number of adverse reactions.

One of the other segments in the therapeutic class includes the segment of third generation drugs which is mainly composed of one particular drug, ABILIFY and ABILIFY MAINTENA which is developed, manufactured and sold by key market leaders in the schizophrenia drugs such as Otsuka Pharmaceutical Co., Ltd. and H. Lundbeck A/S.

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Others segment of the therapeutic class includes the first generation drugs and the generics, which still constitutes an important component of the schizophrenia treatment. The first generation drugs are especially critical for the treatment of individuals who have developed a resistance to the treatment by atypical antipsychotics and do not respond to treatment. It is also critical for patients who are experiencing adverse effects with the other schizophrenia medicines.

By Treatment Analysis

“Injectable-based treatment of schizophrenia is anticipated to exhibit a significant CAGR during the forecast period.”

Due to the increasing number of patients suffering from schizophrenia and the increased awareness about the mental disorder, there have been several new key product launches. Also, a number of key players in the schizophrenia treatment market have robust R&D pipelines. This has given rise to two types of treatments for schizophrenia: oral and injectable. The injectable treatment is experiencing stronger growth due to the advantages associated with it.

Injectable-based schizophrenia drugs are one of the most advanced forms of treatment, especially the long acting injectable (LAIs). Long acting injectable often help in the eradication of the negatives associated with the oral form of treatment of schizophrenia. Some of the benefits of the injectable are the adherence to the treatment regimes, the prevention of relapses and also the irreparable cognitive and neurological damages to the patients.

Thus, due to the increasing efficacy and the safety features of these treatment modes, there is a greater adoption and the transitioning towards the injectable schizophrenia drugs. These advancements in the schizophrenia treatment medicines are some of the critical factors for the improved patient outcomes with fewer relapses.

By Distribution Channel Analysis

“In schizophrenia drugs market by distribution channel, hospital pharmacies segment is projected to hold the highest share.”

Customers are an integral part of the schizophrenia therapeutics market and is anticipated to be a critical determining factor in the dominance of the segments of the distribution channel. The most dominant sector in the distribution channel segment is anticipated to be the hospitals pharmacies segment, especially due to the presence of major psychiatrists who continue to practice in the major hospitals and also due to the growth of the long acting injectable, which the doctors might use in their regular practice.

In terms of the other distribution channels, retail pharmacies and online pharmacies is anticipated to the next most dominant sectors primarily due to the filling of prescriptions after the initial diagnosis is conducted. Online pharmacies are anticipated to register the strongest CAGR due to the increasing access to the internet facilities globally and the subsequent comfort and ease of ordering or filling up of the prescriptions from the convenience of homes and other locations

Followed by these segments, the others segment is anticipated to be holding the least schizophrenia drugs market share. Online pharmacies is the core function of every retail sector. Today, many retail companies possess heaps of data of their customers, stores, and the market competitors, which they in an effective manner to increase their customer base.

REGIONAL ANALYSIS

North America generated a revenue of USD 4.19 Billion in 2018 and is anticipated to emerge dominant in the global market during the forecast period. The rapid adoption of advanced schizophrenia drugs across the region is expected to drive the market growth in the region. Besides, increasing awareness, increasing demand for efficient drugs, and a growing number of schizophrenic patients are expected to fuel the schizophrenia drugs market growth in North America during the forecast period.

Asia Pacific is expected to witness the highest growth in the market across the region. Increasing awareness and increasing focus towards mental health is a key driver for the market in the region. Healthcare professionals and companies from India, China, Japan, and the rest of Asia Pacific are taking an interest in the efficient administration of schizophrenia therapeutics and also focusing on the new product launches in these region. This is anticipated to drive the schizophrenia treatment market growth across the region.

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On the other hand, Europe is projected to witness significant growth in the global schizophrenia therapeutics market. The high growth countries, including Germany, the U.K., and France is estimated contribute substantially to the growth of the European market in the region. Other countries such as Italy and Spain are also anticipated to grow in the forecast period. The new product launches and the strong R&D initiatives in the region is anticipated to contribute to the growth of this region.

The Middle East and Africa is projected to have lesser growth in the market value compared to the other regions in recent years. But, the region is significantly heading towards the modernization and healthcare developments. The Middle East and Africa could be a center of attraction for companies as the major economies in the region are increasing their focus on mental health.

INDUSTRY KEY PLAYERS

“Market players like H. Lundbeck A/S, Otsuka Pharmaceutical Co., Ltd., Inc., and Janssen Pharmaceuticals, Inc. will execute strategies to ensure the strengthening of market position with respect to providing schizophrenia drugs with improved efficacy and safety features”

H. Lundbeck A/S and Otsuka Pharmaceutical Co., Ltd. is actively developing schizophrenia treatment drugs in order to increase and strengthen their market share. A greater focus is being directed towards the development of long acting injectable and newer generations of schizophrenia drugs.

Alkermes has been actively working on developing schizophrenia drugs such as the ALKS 3831. ALKS 3831 is a combination of olanzapine and samidorphan. ALKS 3831 was able to successfully mitigate the weight gain experienced by the patients using schizophrenia drugs and was able to post a successful Phase 3 clinical trial result.

List Of Key Companies Profiled

• H. Lundbeck A/S


• Otsuka Pharmaceutical Co., Ltd.


• Janssen Pharmaceuticals, Inc.


• Eli Lilly and Company


• AstraZeneca


• ALLERGAN


• Vanda Pharmaceuticals Inc. 


• Sumitomo Dainippon Pharma Co., Ltd.


• Alkermes plc


• Bristol-Myers Squibb Company


• Other Prominent Players

KEY INDUSTRY DEVELOPMENTS:

• June 2021 - Alkermes plc received the U.S. Food and Drug Administration (FDA) approval for LYBALVI indicated for the treatment of adults with bipolar disorder and schizophrenia. LYBALVI is an oral atypical antipsychotic drug that offers the efficacy of lanzapine with less weight gain.


• May 2021 - Boehringer Ingelheim announced that company had received Breakthrough Therapy Designation (BTD) for BI 425809 from the U.S. Food and Drug Administration (FDA) for the treatment of Cognitive Impairment Associated with Schizophrenia (CIAS).


• November 2020 - The Janssen Pharmaceutical Companies announced that the company had submitted a supplemental New Drug Application (sNDA) for Paliperidone Palmitate 6-Month (PP6M)  to the U.S. Food and Drug Administration (FDA) indicated for treating adults with schizophrenia. If approved, it will be the only long-acting injectable (LAI) schizophrenia medication with a twice-yearly dosing regimen.


• June 2020 - Sumitomo Dainippon Pharma Co., Ltd. announced the launch of LATUDA Tablets. It is an atypical antipsychotic agent for schizophrenia and bipolar depression and has been approved in many European countries and the U.S.


• March 2020 - Intra-Cellular Therapies, Inc. announced the launch of CAPLYTA to the pharmacies in the U.S. It is a daily oral medicine approved for the treatment of schizophrenia in adults.

REPORT COVERAGE

"A growing trend observed in the increasing adoption of advanced and more efficient schizophrenia drugs across the developed and developing markets. "

The report provides qualitative and quantitative insights on the global schizophrenia therapeutics market and detailed analysis of global market size & growth rate for all possible segments in the market. The global market is segmented By therapeutic class, treatment, and geography. Based on the therapeutic class, the global market is classified into second generation, third generation and others. Based on the treatment, the market is segmented into the oral and injectable. By distribution channel, the global market is classified as hospital pharmacies, retail pharmacies, online pharmacies, and others. Geographically, the global market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further categorized into countries.

An Infographic Representation of Schizophrenia Drugs Market

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Along with this, the report provides an elaborative analysis of the schizophrenia drugs market dynamics and competitive landscape. Various key insights presented in the report are the overview of prevalence of schizophrenia by key regions, pipeline analysis, key industry developments, new product launches, analysis of the cost and burden of schizophrenia, analysis of first generation antipsychotics versus second & third generation antipsychotics, and overview of R&D initiatives.

Report Scope & Segmentation