Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global Schizophrenia Drugs market was valued at US$ 7.52 billion in 2021 and is expected to register a revenue CAGR of 4.30% to reach US$ 10.98 billion by 2030.

Market Fundamentals 

Schizophrenia is a severe mental illness where patients have abnormal perceptions of reality. Schizophrenia may manifest as hallucinations, delusions, and severely irrational thinking and behavior, making daily activities difficult for the patient. Schizophrenia patients need lifetime care.  There is no recognized cause of schizophrenia, but according to research, a person may be more susceptible to acquiring the disease if a combination of physical, genetic, psychological, and environmental factors is present. A predisposition to schizophrenia is another leading cause of schizophrenia. Also, a difficult or traumatic life event can trigger the condition. Schizophrenia can develop at any age; it often appears in people in their late teens to early twenties for men and their late twenties to early thirties for women. Schizophrenia is rarely identified in patients older than 40 or less than 12 years old.

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Market Dynamics

The primary factors driving the revenue growth of the global schizophrenia drugs market are the increasing prevalence of the disease and the growing investment and expenditure on mental disease management. The market revenue growth is driven by the demand for unique and potent treatments and the launch of novel drugs due to the rising prevalence of schizophrenia disorder. 

However, the high cost of drugs and treatment is restricting the market revenue growth. Furthermore, the lack of awareness and the strict rules for new product approvals and launches are also expected to hinder the market revenue growth to some extent.

Market Ecosystem

The global schizophrenia drugs market is analyzed from three perspectives: drug class, route of administration, and region. 

Schizophrenia Drugs Market by Drug Class 

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Based on drug class, the global schizophrenia drugs market is divided into 1st generation antipsychotics, 2nd generation antipsychotics, and 3rd generation antipsychotics. 

The 2nd generation antipsychotics segment dominates the drug class in terms of revenue share due to its high demand. The 2nd generation antipsychotics include a key drug, aripiprazole which is manufactured under the brand name Abilify. It is a drug used to treat schizophrenia that directly affects the brain. The drug enhances thinking, mood, and behavior by balancing dopamine and serotonin levels. 

The 1st generation antipsychotics segment is expected to register high revenue growth during the forecast period due to its increasing demand. The 1st generation antipsychotics are characterized by blocking dopaminergic neurotransmission and inhibit roughly 72% of the brain's D2 dopamine receptors. Additionally, FGAs (first-generation antipsychotics) are an essential choice for psychotic disease treatment since they are significantly less expensive than most modern antipsychotics. 

Schizophrenia Drugs Market by Route of Administration 

Based on the route of administration, the global market for schizophrenia drugs is segmented into parenteral and oral. 

The oral segment dominates the global market in terms of revenue share. The factors influencing the revenue growth of this segment include the widespread availability of oral medications, non-invasiveness, and higher physician preference. 

The injectable segment is also expected to show high revenue growth during the forecast period because of the launch of new products strengthening the injectable product portfolio. Additionally, the injectable mode of drug administration provides some additional advantages, such as fast action, enhanced patient compliance, increased systemic availability due to avoiding first-pass metabolism, and decreased dose frequency.    

Schizophrenia Drugs Market by Region

Based on region, the global schizophrenia drugs market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. 

In terms of revenue share, North America dominates the global market for schizophrenia drugs. The large revenue share of this region is attributed to the rising acceptance of contemporary schizophrenia treatments and the increased geriatric population suffering from late-onset schizophrenia. Furthermore, growing awareness, increased need for efficient therapies, and a large patient population for schizophrenia supports the revenue growth of the North American schizophrenia drugs market. 

The Asia Pacific region is expected to register the fastest revenue growth during the forecast period. Improving awareness and focus on mental health are the major factors driving revenue growth in this region. Furthermore, evolving efficiency in administering schizophrenia medications and the introduction of new products in the region are supporting the revenue growth of the Asia Pacific Schizophrenia Drugs Market.

Competitive Landscape 

The prominent players operating in the global schizophrenia drugs market are: 

• H. Lundbeck A/S
• Janssen Pharmaceuticals, Inc. 
• Bristol-Myers Squibb Company 
• Eli Lilly and Company 
• AstraZeneca plc
• Otsuka Pharmaceuticals Co., Ltd. 
• Vanda Pharmaceuticals Inc. 
• Alkermes Plc 
• Allergan plc
• Sumitomo Dainippon Pharma Co., Ltd. 
• Pfizer Inc. 

Strategic Developments 

• In June 2021, the US FDA approved Lybalvi, manufactured by Alkermes, for several indications, including treating adults with schizophrenia and bipolar I disorder (acute manic episodes or acute episodes with mixed features).

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