Schizophrenia Market is projected to reach USD 7.2 Billion in 2018 and expected to register a 2.5% CAGR during the forecast period. Schizophrenia is a long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior. Although the course of schizophrenia varies among individuals, it is typically persistent and can be both severe and disabling.
also read @ https://www.marketwatch.com/press-release/schizophrenia-market-2021-diagnosis-and-treatment-worldwide-overview-by-size-share-trends-segments-and-regional-overview-with-competitive-landscape-by-2023-2021-01-17
The global schizophrenia market is expected to grow at a CAGR of 3.2% during the forecast period 2017-2027.
People with schizophrenia are more prone to die earlier than the normal population. This is often due to physical illnesses, such as cardiovascular, metabolic and infectious diseases. According to WHO, in 2016, More than 50% of people with schizophrenia are not receiving appropriate care. 90% of people with untreated schizophrenia live in low and developing countries, such as India, Pakistan, etc.
Comprehensive Regional Analysis
The Americas dominate the global Schizophrenia Drugs Market Size owing to the presence of awareness of healthcare, high healthcare spending, and increasing government support for research & development.
Europe holds the second largest share of the global schizophrenia market as result of increasing focus of various government agencies on the treatment of mental illness disease such as schizophrenia. Moreover, the growing public awareness about schizophrenia likely to boost the Europe market.
Asia Pacific is the fastest growing schizophrenia market across the globe. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government’s initiatives for research & development projected to drive the market in India, Iran, Pakistan, Tanzania, over the forecasted period. Additionally, WHO initiative for training primary health-care personnel, providing access to essential drugs, and supporting families in providing home care lead the market growth of the schizophrenia in the region.
The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market.
- Companies into Schizophrenia
- Research and Development (R&D) Companies
- Independent Research Laboratories
- Market Research and Consulting Service Providers
- Medical Research Laboratories
Competitive Analysis by Major Key Players
Some of key the players in the market are Minerva Neurosciences (US), Promentis Pharmaceuticals, Inc. (US), Bristol-Myers Squibb (US), PsychoGenics Inc. (US), Vineuro Pharmaceuticals, Novartis AG (Switzerland), Merz Pharma GmbH & Co. KGaA (Germany), AbbVie Inc. (US), Eli-Lilly and Company (US), AstraZeneca Plc (UK)
The global schizophrenia market is segmented on the basis of by diagnosis, by treatment type, and by end user.
On the basis of the diagnosis, it is segmented into blood and urine tests, brain imaging, vision testing, and others.
On the basis of the treatment type, it is segmented into surgery, radiation therapy, medications, and others.
On the basis of the end user, it is segmented into hospitals, clinics, diagnostic centers, rehabilitation centers and others.
Moreover, uses of evidence-based technical guidance, tools and training packages for expanding the services in the developing countries are adding fuel to the schizophrenia market. However, majority of the people with this disease in the developing countries are unable to get the treatment owing to lack of effective structure for the treatment in mental hospitals. Increase in number of patients seeking treatment and the rising demand for improved healthcare infrastructure are expected to drive the market.
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