PUBLISHER: The Business Research Company | PRODUCT CODE: 1414457
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414457
“Olanzapine Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on olanzapine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for olanzapine? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The olanzapine market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Olanzapine, classified as an atypical antipsychotic, is prescribed for various mental health conditions such as schizophrenia, bipolar disorder, and depression linked to bipolar disorder. Its mechanism involves regulating specific brain chemicals, notably dopamine and serotonin.
Different types of olanzapine treatments include monotherapy and combination therapy. Monotherapy refers to the use of a single medication, such as olanzapine, or therapy to address specific conditions such as schizophrenia, bipolar disorder, and major depressive disorder. Olanzapine monotherapy involves solely using this medication without combining it with others. These treatments are typically administered orally or via parenteral routes and are utilized in hospitals, homecare settings, specialty clinics, and similar environments to manage conditions such as schizophrenia, bipolar disorder, and other related ailments.
The olanzapine market research report is one of a series of new reports from The Business Research Company that provides olanzapine market statistics, including olanzapine industry global market size, regional shares, competitors with an olanzapine market share, detailed olanzapine market segments, market trends and opportunities, and any further data you may need to thrive in the olanzapine industry. This olanzapine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The olanzapine market size has grown steadily in recent years. It will grow from $2.55 billion in 2023 to $2.62 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth observed in the historical period can be attributed to several factors, including an increased incidence of mental health disorders, heightened awareness and improved diagnosis methods, a growing population of older adults, advancements in psychiatric treatments, and the approval of medications for various indications.
The olanzapine market size is expected to see steady growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The anticipated growth in the forecasted period is expected to be fueled by the rise in mental health awareness, ongoing innovations in psychiatric medications, global initiatives addressing mental health, increased utilization within the pediatric population, and the integration of these medications with mental health services. Notable trends projected for this period include the development of enhanced formulations tailored for elderly patients, the introduction of patient support programs, heightened regulatory scrutiny and monitoring, exploration and implementation of digital health solutions, and the sustained focus on researching new indications for these medications.
The projected increase in emotional illness and mental health issues is set to drive the expansion of the olanzapine market. This medication, an atypical antipsychotic, is instrumental in treating conditions such as schizophrenia, bipolar disorder, and depression-responding to the escalating demand for mental health treatment solutions. In January 2023, a report from the Substance Abuse and Mental Health Services Administration revealed staggering statistics approximately 5.5% of adults aged 18 or older equivalent to 14.1 million individuals reported experiencing serious mental illness (SMI) in 2021. Among these, the highest percentage was observed among young adults aged 18 to 25, followed by adults aged 26 to 49 and those aged 50 or older. This escalating prevalence of emotional illness and mental troubles underscores the growth trajectory of the olanzapine market.
The burgeoning aging population is poised to fuel the olanzapine market's expansion. With mental health conditions such as schizophrenia and bipolar disorder being more prevalent among older individuals, the aging demographic increasingly relies on olanzapine to manage these conditions. Addressing symptoms such as hallucinations, delusions, and mood fluctuations, olanzapine significantly contributes to enhancing mental well-being and improving the quality of life for the elderly. The World Health Organization's projection in October 2022 indicates a rapid increase in the global population of individuals aged 60 and older, expected to double by 2050, reaching 2.1 billion. This demographic shift highlights the driving force of the growing aging population on the olanzapine market.
A notable trend in the olanzapine market revolves around innovative combination therapies in mental health treatment. Companies are vigorously developing new treatment options to fortify their market positions. For example, in October 2021, Alkermes introduced Lybalvi, a combination therapy merging olanzapine-an atypical antipsychotic-with samidorphan, a mu-opioid receptor antagonist. This fusion aims to address schizophrenia and bipolar I disorder by combining olanzapine's therapeutic effects with samidorphan's opioid system modulation, specifically targeting symptoms such as hallucinations, delusions, disorganized thinking, and mood instability.
Major companies within the olanzapine market are adopting strategic partnerships to introduce olanzapine as the inaugural long-acting drug with a favorable safety profile. Strategic alliances, such as the collaboration between Teva Pharmaceutical Industries Ltd. and Royalty Pharma plc in November 2023, aim to expedite the clinical research program for Teva's olanzapine LAI (TEV-'749). This once-monthly subcutaneous long-acting injection of olanzapine, currently in Phase 3 for schizophrenia treatment, represents a significant milestone in advancing treatment options within the market.
In April 2023, Cheplapharm Arzneimittel GmbH, a Germany-based pharmaceutical company engaged in branded drugs, medical products, supplements, and cosmetics, acquired worldwide commercial rights for Zyprexa from Eli Lilly and Company for an undisclosed amount. Through this acquisition Cheplapharm strengthened its portfolio in the therapeutic area of the central nervous system. Eli Lilly and Company is a US-based pharmaceutical company engaged in olanzapine medications.
Major companies operating in the olanzapine market report are Aurobindo Pharma Ltd., Teva Pharmaceutical Industries Limited, Dr. Reddy's Laboratories Ltd., Sun Pharmaceutical Industries Limited, Torrent Group, Apotex Inc., Novartis AG, Mylan N.V., Alkermes Inc., Viatris Inc., Pfizer Inc., Zydus Cadila Healthcare Ltd., Endo International plc, Lupin Limited, Cipla Inc., Eli Lilly and Company, Zhejiang Langhua Pharmaceutical Co. Ltd., Jiangsu Hansoh Pharmaceutical Group Co. Ltd., Bristol-Myers Squibb Company, Sandoz International GmbH, Changzhou Huasheng Pharmaceutical Co. Ltd., Par Pharmaceutical, Jubilant Pharmova Limited, Hansoh Pharmaceutical, AstraZeneca plc, Olanzapine API Manufacturers, Torrent Pharmaceuticals, Egis Pharmaceuticals plc, Actavis Group hf., Hexal AG
North America was the largest region in the olanzapine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global olanzapine market report during the forecast period. The regions covered in the olanzapine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the olanzapine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The olanzapine market consists of sales of branded and generic olanzapine medications. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.