Global Schizophrenia Drugs Market - 2025-2032

The global schizophrenia drugs market reached US$ 10.03 billion in 2024 and is expected to reach US$ 15.58 billion by 2032, growing at a CAGR of 5.7% during the forecast period 2024-2032.

Schizophrenia is a serious mental health condition in which the affected patient may experience hallucinations, delusions, abnormal thinking and behavior. The symptoms may start first appearing in a person during their early 20's or late teenage. The symptoms of schizophrenia were classified into positive and negative. The positive symptoms include hallucinations, paranoid behavior, development of abnormal beliefs, etc. The negative symptoms include reduced social activity, speech output, emotional expression, etc.

There is no cure for schizophrenia, and patients have to take lifetime treatment. The most common treatment includes prescription medicine such as antipsychotics, rehabilitation, and psychotherapy.

The market for schizophrenia is expected to be driven by the rising incidence and anticipated product approvals in the forecast period.

Market Dynamics: Drivers & Restraints

The rising prevalence of schizophrenia

The rising prevalence of schizophrenia is the significant driver for the market growth in the forecast period. Globally the rising awareness of mental health has significantly increased the diagnosis rate of schizophrenia and consequent patient population who are opting for treatments. As per the World Health Organization (WHO), more than 24 million people worldwide are suffering from schizophrenia, and 50% of the population in mental hospitals have schizophrenia. A study published in the Environmental Research journal has stated that the global incidence of schizophrenia has risen by 37.23% from 1990 to 2019. The total incidence cases were 0.94 million in 1990 and 1.29 million in 2019. The study concluded that the rapid urbanization, and improving sociodemographic index have significantly contributed to the rising incidence.

The majority of the countries worldwide are rapidly growing, and as per dataM estimates, the incidence cases of schizophrenia in 2030 are expected to reach 1.45 million. This rising incidence, combined with the growing demand for advanced treatments is expected to significantly propel the market growth in the forecast period.

The high cost of schizophrenia drugs may restrain the market growth.

Schizophrenia is a condition that requires prolonged/life-long treatment. The new antipsychotic drugs that are sold under brand names are expensive and their adoption is often questioned among low-income populations. For instance, cobenfy (xanomeline and trospium chloride) which was recently approved by the U.S. FDA is available for US$1,850 per month which is ~US$22,000 per year. This can create a significant economic burden on patients who lack insurance coverage and are on partial coverage.

Segment Analysis

The global schizophrenia drugs market is segmented based on drug class, route of administration, distribution channel, and region.

Atypical antipsychotics in the drug class segment are dominating the market.

Atypical antipsychotics (second-generation antipsychotics) are the drugs known to cause less extrapyramidal symptoms than typical antipsychotics (first-generation antipsychotics). Atypical antipsychotics act on serotonin, and norepinephrine receptors as well, in addition to their minimal action on dopaminergic receptors. By doing so, there drug not only treats the positive symptoms of schizophrenia but also the negative symptoms, unlike the typical antipsychotics. The most commonly prescribed atypical antipsychotics are risperidone, olanzapine, clozapine, aripiprazole, quetiapine, etc.

According to Teva, in the U.S., nearly 25% of the schizophrenic population were prescribed risperidone, 18% were prescribed olanzapine, 16% were prescribed aripiprazole, 11% were prescribed with paliperidone 8% were prescribed quetiapine, 6% were prescribed with clozapine, and 16% were prescribed other drugs.

Moreover, a study published in the Saudi Pharmaceutical Journal in December 2023 stated that Atypical antipsychotics were the most widely prescribed medication for schizophrenic patients in Saudi Arabia, accounting for ~59% of total prescriptions, and among them, Aripiprazole was the most common atypical antipsychotic.

Atypical antipsychotics have gained huge importance in recent times due to their high safety profile as compared to typical antipsychotics and are well tolerated by patients. A study published in the Schizophrenia Bulletin of the Journal of Psychoses and Related Disorders in May 2024 has stated that up to 3 quarters of patients with schizophrenia who are prescribed clozapine have reported that the drug is effective for them in controlling their symptoms.

This reflects the popularity of atypical antipsychotics in schizophrenia treatment their higher adoption rate and consequently their market dominance.

Geographical Analysis

Asia-Pacific region is expected to grow with the highest CAGR in the forecast period.

The Asia-Pacific schizophrenia drugs market is expected to significantly grow in the forecasted period owing to factors such as rising prevalence, increasing diagnosis & treatment rate, and approval of novel antipsychotic drugs.

For instance, in June 2024, Luye Pharma Group announced that China's National Medical Products Administration (NMPA) approved Meibirui for the acute and maintenance treatment of schizophrenia. Meibirui is the long-acting Paliperidone Palmitate Injection that can significantly improve the clinical outcome of a patient as compared to oral treatments.

However, in October 2024, Zai Lab Limited announced the positive results from phase 3 clinical trials of KarXT-a new generation antipsychotic drug for schizophrenia patients. Zai Lab possesses an exclusive license from Bristol Myers Squibb to develop, manufacture, and commercialize KarXT in Greater China. The approval is anticipated in 2025 which can address a significant proportion of the schizophrenia population in China.

Competitive Landscape

The major global players in the schizophrenia drugs market are Bristol-Myers Squibb Company, Otsuka Pharmaceutical Co., Ltd., CHEPLAPHARM Arzneimittel GmbH, Johnson & Johnson Services, Inc., Sumitomo Pharma Co., Ltd., Novartis AG, Tasman Pharma, INC., Intra-Cellular Therapies, Inc., AbbVie Inc., Alkermes, Inc., Viatris Inc. and Vanda Pharmaceuticals Inc. among others.

Emerging Players

The emerging players in the schizophrenia drugs market include Anavex Life Sciences Corp., Spinogenix, AbbVie Inc., Alto Neuroscience Inc., ATAI LIFE SCIENCES N.V., Reviva Pharmaceuticals Holdings, Inc., and Teva Pharmaceutical Industries Ltd. among others.

Key Developments

• In September 2024, the U.S. Food and Drug Administration (FDA) approved COBENFY (xanomeline and trospium chloride) for the treatment of schizophrenia in adult patients. Cobenfy developed by Bristol Myers Squibb is the first drug approved after 35 years with a new mechanism of action targeting muscarinic M1 and M4 receptors in the brain without any antagonism on D2 receptors.
• In March 2024, the European Commission (EC) approved a long-acting injectable called Abilify Maintena 960mg (aripiprazole) for maintenance therapy among schizophrenia patients. Abilify Maintena developed by Otsuka Pharmaceutical Co., Ltd, and H. Lundbeck A/S is a once-every-two-months formulation and received its approval in all member countries of the European Union.

Why Purchase the Report?

• Pipeline & Innovations: Reviews ongoing clinical trials, and product pipelines, and forecasts upcoming pharmaceutical advancements.
• Type Performance & Market Positioning: Analyzes product performance, market positioning, and growth potential to optimize strategies.
• Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
• Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient Type delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The global melanoma therapeutics market report would provide approximately 54 tables, 46 figures, and 195 pages.

Target Audience 2023

• Manufacturers: Pharmaceutical, Biotech Companies, Contract Manufacturers, Distributors, Hospitals.
• Regulatory & Policy: Compliance Officers, Government, Health Economists, Market Access Specialists.
• Technology & Innovation: R&D Professionals, Clinical Trial Managers, Pharmacovigilance Experts.
• Investors: Healthcare Investors, Venture Fund Investors, Pharma Marketing & Sales.
• Consulting & Advisory: Healthcare Consultants, Industry Associations, Analysts.
• Supply Chain: Distribution and Supply Chain Managers.
• Consumers & Advocacy: Patients, Advocacy Groups, Insurance Companies.
• Academic & Research: Academic Institutions.