The global Schizophrenia treatment market is expected to grow at a CAGR of 5.7% from 2021 to 2028. It affects 1% of the total global population and every seven out of 1000 suffers from Schizophrenia. Schizophrenia is a mental health disorder in which the person suffering from Schizophrenia interprets the reality and often lives in the virtual world, the world created by their imaginations. They often hallucinate and hear things which never happens. According to WHO (world health organization), in 2013 approx 50 million people were affected by Schizophrenia. Some of the factors which causes Schizophrenia are genetics, birth complications, under-developed brain, stress, harassment, assault, neurotransmitters, drug abuse, excessive use of LSD etc.
There are no laboratories and specialized hospitals for Schizophrenia and hence the treatment is based on medicines, therapies, and doctor consultations. Schizophrenia is such a condition which cannot be permanently cured, there is no such medication yet. The patient can be given certain therapies and medications which may improve their condition to some extent but fully curing the patient is not possible in this case. The early the diagnosis the better the condition of the patient, delaying may worsen the condition and the person might suffer from permanent memory loss.
The key factors which boost the global Schizophrenia market is – rise in the mental health expenditure, surging chronic ailments illness, increase in the number of incidences in developed countries, the demand of special medications for schizophrenia such as Doria (risperidone ISM), SEP-363856, Roluperidone (MIN-101) has a good impact on the hike of the schizophrenia market. The high cost of the treatment including the therapies, medications and the adverse side-effects are some of the key factors which restrains the global Schizophrenia market. The lack of proper knowledge in healthcare in under-developed countries are also a factor which leads to the restraining in the global schizophrenia market.
At the present scenario, the North America market is ruling the global Schizophrenia market in the revenue market and spreading its foot in all the developed countries, where there is a hike in the number of patients, as well as there are better health facilities eventually boosting the global Schizophrenia market.
As we know we deal with such patients who interprete reality and virtuality, it’s really tough to manage such patients. Taking proper care, making them do all the therapies and taking medicines, itself is a challenge. Side effects of the medicines, pressure of curing the patients without any extra damage, the main challenge in the Schizophrenic treatment is the return of abnormality despite the treatment.
The global Schizophrenia market is basically segmented into types, treatment, route of administration and region. On the basis of type, the global Schizophrenia market is segmented into paranoid schizophrenia, hebephrenic schizophrenia, catatonic schizophrenia and un-differentiated schizophrenia. On the basis of treatment, the global Schizophrenia market is segmented into second-generation antipsychotics and third-generation antipsychotics. Some of second-generation antipsychotics are Risperdal (Risperidone), Invega (Paliperidone), Zyprexa (Olanzapine), Geodon (Ziprasidone), Seroquel (Quetiapine), Latuda (Lurasidone), etc. On the basis of route of administration, the global market is segmented into oral and injectable medications.
Based on region, the global Schizophrenia market is segmented into America, Europe, Asia-Pacific, and the Middle East and Africa. The global Schizophrenia market in the Americas has further been segmented into North America and Latin America, with the North American market is divided into the US and Canada. The European market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The market in Asia-Pacific has been segmented into Japan, China, India, Latin Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.
Some of the prominent players in the global Schizophrenia market are Johnson & Johnson (US), Bristol-Myers Squibb and Company, Otsuka Pharmaceuticals (US), AstraZeneca (UK), Eli Lilly (US), Alkermes (Ireland), Sumitomo Dainippon Pharma (Japan), Pfizer (US), Vanda Pharmaceuticals (US) and Allergan/Geodon Ritcher (Ireland).
Market Segmentation and Scope of Schizophrenia Market