Global Schizophrenia Drugs Market Trends

Statistics for the 2023 & 2024 Global Schizophrenia Drugs market trends, created by Mordor Intelligence™ Industry Reports. Global Schizophrenia Drugs trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Global Schizophrenia Drugs Industry

This section covers the major market trends shaping the Schizophrenia Drugs Market according to our research experts:

The Second-generation Antipsychotics Segment Expects to Register a High CAGR in the Forecast Period

The Second-generation antipsychotics segment is expected to grow over the forecast period, owing to the factors such as the rising prevalence of mental health disorders including schizophrenia, highly effective in treating symptoms like hallucinations and delusions in patients with schizophrenia.

According to an article published in November 2020, titled "Effectiveness of antipsychotic drugs in schizophrenia: a 10-year retrospective study in a Korean tertiary hospital", the study results showed that among antipsychotics, clozapine has the best efficacy for treatment continuation. In addition to clozapine, aripiprazole and paliperidone, have also been demonstrated to be the most effective in treating schizophrenia.

Furthermore, the increasing company focus on developing effective drug products for treating patients with schizophrenia and rising product approvals are also contributing to the growth of the antipsychotic drugs segment, thereby boosting the market growth over the period. For instance, in June 2021, the United States Food and Drug Administration approved Alkermes's Lybalvi, an oral antipsychotic drug composed of olanzapine, for schizophrenia and bipolar I disorder. In addition, in September 2021, the United States Food and Drug Administration approved Janssen's Invega Hafyera, a long-acting atypical antipsychotic drug, the first-and-only twice-yearly injectable for the treatment of schizophrenia in adults.

As a result, improving efficacy and effectiveness in treating schizophrenia, as well as increasing company focus on developing atypical antipsychotic drugs for treating schizophrenia, are likely to fuel market expansion throughout the projection period.

Schizophrenia Drugs Market : Number of Active Schizophrenia Clinical Trials, By Phase, Global, As of July 2022

North America is Expected to Have the Significant Market Share

North America is expected to hold a major market share in the schizophrenia drugs market due to the increasing prevalence of schizophrenia and related mental disorders in the population, rising geriatric population, presence of robust healthcare infrastructure and high healthcare spending, and presence of major market players.

The increasing burden of mental illness and schizophrenia in the population is the key factor driving the market growth in the region. According to the June 2022 update of the National Alliance of Mental Illness (NAMI), the annual prevalence of schizophrenia among adults in the United States is about 1.5 million people, and thus, schizophrenia drugs are expected to be in demand in the region which will boost growth in the studied market in North America. In addition to this, Schizophrenia typically affects men in their late teens or early twenties and women in their late twenties or early thirties. Similarly, according to the World Health Organization, in 2022, people with schizophrenia are two to three times more likely to die early than the general population. This is often due to physical illnesses, such as cardiovascular, metabolic, and infectious diseases.

Furthermore, the company is mainly focusing on adopting various business strategies such as collaborations, product launches, acquisitions, and partnerships to withhold their position in the schizophrenia drugs market is likely to boost the market growth. For instance, in November 2021, Neurocrine Biosciences partnered with Sosei Group Corporation to develop a new brand of protein inhibitor that helps to improve treatments for a wide range of neuropsychiatric disorders. Under the agreement, Neurocrine Biosciences has the right to develop and produce muscarinic M4, M1, and dual M1/M4 receptor agonists discovered by Sosei Heptares. In addition, Neurocrine Biosciences plans to submit an Investigational New Drug Application to the Food and Drug Administration and begin a placebo-controlled phase 2 study with one of the M4 agonists as a potential schizophrenia treatment, by 2022. Similarly, in June 2020, Neurocrine Biosciences entered into a strategic collaboration with Takeda Pharmaceuticals to develop and commercialize compounds in Takeda's early-to-mid-stage psychiatry pipeline. Under the collaboration, Takeda granted an exclusive license to Neurocrine Biosciences for seven pipeline programs, including three clinical-stage assets for schizophrenia, treatment-resistant depression, and anhedonia.

Hence, the increasing burden of mental illness, schizophrenia, and related disorders among people, increasing focus and research and development activities by the market players, and other factors are likely to increase the market expansion over the forecast period.

Schizophrenia Drugs Market - Growth Rate By Region

Schizophrenia Drugs Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)