Schizophrenia Global Market Report 2024

“Schizophrenia 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 schizophrenia 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.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for schizophrenia? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The schizophrenia 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.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Catatonic Schizophrenia; Paranoid Schizophrenia; Undifferentiated Schizophrenia; Hebephrenic Schizophrenia; Residual Schizophrenia; Other Types
• 2) By Treatment: First-Generation Antipsychotics; Second-Generation Antipsychotics; Third-Generation Antipsychotics; Psychotherapies; Other Treatments
• 3) By Route of Administration: Oral; Injectables
• Companies Mentioned: Pfizer Inc.; Johnson & Johnson Services Inc.; AbbVie Inc.; Novartis AG; Bristol-Myers Squibb Company
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Schizophrenia is a severe and long-term mental illness that significantly affects an individual's cognitive processes, emotional expression, behavior, and their perception of reality. Symptoms may include delusions, hallucinations, disordered speech, and unusual movements. The comprehensive management of schizophrenia involves a combination of pharmaceutical treatments, rehabilitation programs, and supportive services.

Schizophrenia can manifest in different forms, including catatonic schizophrenia, paranoid schizophrenia, undifferentiated schizophrenia, hebephrenic schizophrenia, residual schizophrenia, and others. Catatonic schizophrenia is a subtype characterized by severe motor disturbances, such as catatonia, immobility, and abnormal postures or movements. Treatment typically involves antipsychotic medications and supportive therapies to manage psychotic symptoms and address catatonic motor behavior. Available treatments encompass first-generation antipsychotics, second-generation antipsychotics, third-generation antipsychotics, psychotherapies, and other therapeutic drugs that can be administered through oral or injectable routes.

The schizophrenia market research report is one of a series of new reports from The Business Research Company that provides schizophrenia market statistics, including schizophrenia industry global market size, regional shares, competitors with a schizophrenia market share, detailed schizophrenia market segments, market trends, and opportunities and any further data you may need to thrive in the schizophrenia industry. This schizophrenia market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The schizophrenia market size has grown strongly in recent years. It will grow from $5.48 billion in 2023 to $5.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to growing demand for effective treatments, mental health awareness, government initiatives, growing research and development.

The schizophrenia market size is expected to see strong growth in the next few years. It will grow to $7.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to growing personalized medicine, growing digital health solutions, growing improved antipsychotic medications, expanding access to healthcare services . Major trends in the forecast period include new drug development, growing emphasis on early intervention, recovery-oriented cares, expanding clinical trials pipeline for schizophrenia treatments.

The growing prevalence of mental illness is expected to fuel the expansion of the schizophrenia market in the future. Mental illness encompasses a broad spectrum of mental health conditions that impact a person's cognition, emotions, mood, and behavior, significantly affecting their daily life and interpersonal relationships. The rise in mental health cases has spurred advancements in the treatment of schizophrenia and the development of new medications, thereby contributing to the market's growth. For instance, as of March 2023, data from the National Institute of Mental Health (NIMH), a department of health and human services in the United States, indicated that an estimated 57.8 million adults aged 18 and older had experienced any mental illness (AMI), constituting 22.8% of all adults in the United States. Among different age groups, young adults aged 18-25 years exhibited the highest prevalence of AMI at 33.7%, followed by those aged 26-49 years (28.1%), and individuals aged 50 and above (15.0%). Consequently, the escalating burden of mental illness is expected to be a driving force behind the growth of the schizophrenia market.

The increasing demand for anxiety treatment is expected to drive the growth of the schizophrenia market in the future. Anxiety treatment encompasses various therapeutic approaches and interventions designed to assist individuals dealing with excessive and debilitating anxiety symptoms in managing and alleviating their anxiety. Such treatment can be beneficial for individuals with schizophrenia in multiple ways, as it addresses comorbid anxiety symptoms often associated with schizophrenia, and it can also help reduce the intensity of psychotic symptoms like hallucinations and delusions. For example, in October 2021, as per the American Psychological Association, a professional organization representing psychology in the US, the demand for anxiety treatment increased in 2021, with over 8 in 10 (84%) psychologists who treat anxiety disorders reporting an increase compared to the previous year. Therefore, the rising demand for anxiety treatment is a driving factor for the growth of the schizophrenia market.

The growth of the schizophrenia market during the forecast period is being hindered by poor treatment adherence. In the context of schizophrenia, poor treatment adherence can result in various challenges, including medication side effects, a lack of insight into the illness, the stigma associated with mental health conditions, cognitive impairments, substance use, and difficulties in receiving social support and access to care. For example, according to a 2022 report by the BMJ Publishing Group Ltd., a UK-based publisher, an estimated 30% to 50% of individuals are believed to not adhere to their prescribed medications. As a result, poor treatment adherence is acting as a restraint on the growth of the schizophrenia market in the future.

Prominent companies in the schizophrenia market are embracing emerging technologies like automated psychological therapy to bolster their market presence. Automated psychological therapy involves utilizing technology, including virtual reality (VR), to offer psychological therapy in an autonomous or self-guided manner. For example, in April 2022, OxfordVR Limited, a digital therapeutic company based in Switzerland, introduced the gameChangeVR technology-a 6-week automated VR treatment that delivers cognitive behavioral therapy (CBT) within secure and immersive virtual environments. This VR-based automated psychological therapy replaces real-life therapists with a virtual coach, enabling the treatment to reach a broader range of patients. Notably, this marks the first instance where digital therapy of any kind has demonstrated efficacy in treating individuals with schizophrenia and mood disorders who experience psychotic symptoms.

In March 2023, Royalty Pharma PLC, a US-based purchaser of biopharmaceutical royalties, completed the acquisition of the royalty rights for the KarXT schizophrenia treatment from Karuna Therapeutics Inc., for a sum of $500 million. As part of this agreement, Royalty Pharma will provide PureTech with a 3% royalty on Karuna's annual sales, up to $2 billion. This acquisition also provides PureTech with additional capital to advance its internal pipeline, including ongoing clinical initiatives, with the potential for future commercialization. KarXT is an investigational oral medication specifically developed for the treatment of schizophrenia and other neurological disorders, focusing on M1/M4-preferred muscarinic agonists. Karuna Therapeutics Inc., a clinical-stage biopharmaceutical company based in the United States, specializes in the development of pharmaceuticals for psychiatric disorders and schizophrenia.

Major players in the schizophrenia market are Pfizer Inc., Johnson & Johnson Services Inc., AbbVie Inc., Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company, Eli Lilly and Company, Gilead Sciences Inc., Boehringer Ingelheim International GmbH, Amgen Inc., Otsuka Holdings Co. Ltd., Biogen Inc., Daiichi Sankyo Co. Ltd., Astellas Pharma Inc., Sumitomo Dainippon Pharma Co. Ltd., Mitsubishi Tanabe Pharma Corporation, Recordati SpA, Lundbeck A/S, Neurocrine Biosciences Inc., Torrent Pharmaceutical Ltd., Alkermes PLC, Indivior PLC, Vanda Pharmaceuticals Inc., Intra-Cellular Therapies Inc., Axsome Therapeutics Inc., PsychoGenics Inc., Karuna Therapeutics Inc., Minerva Neurosciences Inc. .

North America was the largest region in the schizophrenia market in 2023. The regions covered in the schizophrenia report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the schizophrenia market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, and Spain.

The schizophrenia market consists of revenues earned by entities by providing cognitive behavioral therapy, electroconvulsive therapy, and group counseling. The market value includes the value of related goods sold by the service provider or included within the service offering. The schizophrenia market also includes sales of risperdal, invega, zyprexa, geodon and seroquel. 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.