Schizoaffective Disorder Treatment Market
Number of pages: 100 | Report Format: PDF | Published date: March 07, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 10.09 billion |
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Revenue Forecast in 2031 |
US$ 13.18 billion |
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CAGR |
3.01% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Therapeutics, Route of Administration, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global schizoaffective disorder treatment market was valued at US$ 10.09 billion in 2022 and is expected to register a revenue CAGR of 3.01% to reach US$ 13.18 billion by 2031.
Schizoaffective Disorder Treatment Market Fundamentals
Schizoaffective disorder is a mental condition characterized by a combination of strong emotional and psychotic symptoms. Schizoaffective disorder is a chronic mental illness that combines the symptoms of schizophrenia, such as hallucinations and delusions, with those of mood disorders, such as depression or mania. Antipsychotic medications, mood stabilizers, and anti-depressants are routinely used to treat schizoaffective disorder. Antipsychotics are used to treat the disorder’s psychotic symptoms, including hallucinations and delusions. Lithium and other mood stabilizers are used to treat manic or depressed episodes. Depression is a typical symptom of schizoaffective disorder and can be treated with anti-depressants. Therapy is also an essential component of schizoaffective disorder therapy. Cognitive-behavioral therapy (CBT) can assist patients in managing their symptoms and improving their overall functioning. CBT focuses on recognizing and replacing harmful thought patterns with more positive and adaptable ways of thinking.
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Schizoaffective Disorder Treatment Market Dynamics
The global schizoaffective disorders treatment market is likely to experience significant revenue growth during the period. The growth of the market can be attributed to various factors, such as the rising adoption of a sedentary lifestyle, growing disease awareness, and rapidly rising psychological problems/disorders due to poor mental health. For instance, according to the WHO (World Health Organization) report, in 2019, one in every eight individuals, or 970 million people worldwide, suffered from a mental condition, with anxiety and depression being the most frequent. Similarly, during the COVID-19 pandemic, the number of individuals suffering from anxiety and depression increased considerably in 2020. Early estimates reveal a 26% and 28% rise in anxiety and severe depressive disorders, respectively, in a year.
The increased public and professional awareness of schizoaffective disorders has resulted in the earlier diagnosis of schizoaffective disorder with an effective treatment. Developing novel drugs and therapies for treating schizoaffective disorders is a major driver of the treatment market. Advances in drug development have led to new antipsychotic and anti-depressant medications that are more effective in managing the disorder’s symptoms. Advancements in technology have led to the development of new and innovative treatments for schizoaffective disorders. For instance, virtual reality and other digital technologies have shown promise in managing the disorder’s symptoms. Moreover, an increase in healthcare expenditure by governments and private organizations is also driving the revenue growth of the schizoaffective disorder treatment market. This has led to increased research and development in the field of mental health and the development of new treatments.
However, since schizoaffective disorder is a complicated medical condition with limited knowledge, developing effective therapies can be challenging. Treating schizoaffective disorder can be expensive, especially when patients need numerous drugs or hospitalization. Thus, this can limit certain patients access to treatment, particularly in low- and middle-income nations. Furthermore, several drugs used to treat schizoaffective disorder have substantial adverse effects on the patients. This can result in poor treatment adherence, reducing therapy efficacy. Moreover, a dearth of mental health specialists and limited access to mental health services in many regions of the world is restraining market revenue growth.
Schizoaffective Disorder Treatment Market Ecosystem
The global schizoaffective disorder treatment market has been analyzed from four perspectives: therapeutics, route of administration, distribution channel, and region.
Schizoaffective disorder treatment market Treatment by Therapeutics
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Based on therapeutics, the global schizoaffective disorder treatment market can be segmented into antipsychotic drugs, anti-depressants, mood stabilizers, and others.
Antipsychotic drugs are the key treatment medication for the treatment of schizoaffective disorder due to their high effectiveness in managing psychotic and mood symptoms of the disorder, thus, making it the largest revenue shareholder in the global market. These medications effectively reduce the severity and frequency of psychotic symptoms, such as delusions, hallucinations, and disorganized thinking. It can also effectively manage mood symptoms, such as depression or mania, common symptoms of schizoaffective disorder. Additionally, antipsychotic drugs can help prevent relapse of schizoaffective disorder by maintaining symptom control over the long term. These drugs also improve overall functioning and quality of life by reducing symptoms that interfere with daily activities. Moreover, antipsychotic treatment can be individualized based on the type and severity of symptoms and the patient’s overall health and medical history. This allows for tailored/personalized treatment that meets each patient’s needs. Furthermore, these medications can be combined with other treatments, such as psychotherapy or mood stabilizers, to treat schizoaffective disorder comprehensively. These factors are expected to fuel revenue growth in the global market in the next few years.
The mood stabilizers segment is estimated to illustrate high revenue growth during the forecast period, attributed to the growing utilization of mood stabilizers for treating schizoaffective disorders. These drugs are used to reduce symptoms of manic or depressive episodes. Mood stabilizers can assist in regulating and preventing these mood swings from intensifying. Among the most commonly utilized mood stabilizers in treating schizoaffective disorder are valproic acid, carbamazepine, and oxcarbazepine. Lithium is a well-known mood stabilizer used to treat bipolar illness for many years. It is also useful in the treatment of schizoaffective disorder, especially in individuals who have manic or hypomanic episodes. Additionally, anticonvulsants, such as valproic acid, carbamazepine, and lamotrigine, are used as mood stabilizers in treating schizoaffective disorder.
Schizoaffective Disorder Treatment Market by Route of Administration
Based on the route of administration, the global schizoaffective disorder treatment market can be further segmented into oral and injectables.
The oral segment accounts for the largest revenue share of the global market. The growth of this segment can be attributed to the growing popularity of oral medications due to their ease of usage and convenient option for treating schizoaffective disorder. Additionally, oral medications allow for precise dosing, which is essential for effective treatment, thus, ensuring an appropriate amount of medication to manage their symptoms. In addition, oral medications are typically less expensive than other methods of drug delivery, such as intravenous or intramuscular injection, with a large availability, making them accessible to patients in a variety of healthcare settings. Moreover, most of the drugs used for treating schizoaffective disorder are well absorbed when taken orally, which allows for rapid and efficient delivery of the medication to the body.
The injectables segment is also predicted to grow rapidly over the projection period due to the introduction of novel drugs that will expand the injectable product range. Furthermore, the injectable route of drug administration has certain additional benefits, such as faster action, improved patient compliance, higher systemic availability due to avoiding first-pass metabolism, and lower dosage frequency.
Schizoaffective Disorder Treatment Market by Distribution Channel
Based on the distribution channel, the global schizoaffective disorder treatment market can be segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
Hospital pharmacies play a significant role in treating schizoaffective disorder and are important contributors to the revenue growth of the schizoaffective disorder treatment market. The growth of this segment can be attributed to the large availability of branded and generic drugs, which can provide access to specialized medications unavailable in retail pharmacies.
Schizoaffective Disorder Treatment Market by Region
Based on the region, the global schizoaffective disorder treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America leads the global schizoaffective disorder treatment market, followed by Europe and Asia Pacific. Factors driving the schizoaffective disorders treatment market in North America and Europe are the availability of a well-structured regulatory framework, advanced healthcare facilities, reimbursement coverage, and a higher awareness rate about schizoaffective disorders and their growth rate.
Asia Pacific is predicted to depict an enormous development potential in the schizoaffective disorder treatment market during the forecast period. Rapidly improving healthcare infrastructure, government initiatives to strengthen healthcare and biotechnology industries in the regional economies, and rapid growth of the medical tourism industry are expected to drive revenue growth in the schizoaffective disorders treatment market in Asia Pacific during the forecast period.
Schizoaffective Disorder Treatment Market Competitive Landscape
The prominent players operating in the global schizoaffective disorder treatment market are:
Schizoaffective Disorder Treatment Market Strategic Developments
Schizoaffective disorder is a psychological disorder marked by the combination of schizophrenia symptoms, such as hallucinations or delusions, and mood disorder symptoms, such as depression or mania.
The increase in the prevalence of psychological disorders, rise in awareness, and adoption of unhealthy lifestyles are the key trends governing the revenue growth of the global schizoaffective disorder treatment market.
Key companies operating the global schizoaffective disorder treatment market include Johnson & Johnson, H. Lundbeck A/S, Eli Lilly and Company, Bristol-Myers Squibb Company, and AbbVie Inc. (Allergan Plc).
Schizoaffective disorder is a complicated medical condition with limited knowledge, and thus, developing effective therapies can prove to be challenging and a major factor hindering market revenue growth.
The global schizoaffective disorder treatment market is expected to register growth at a revenue CAGR of 3.01% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain