Global Schizophrenia Drugs Market

Schizophrenia Drugs Market Size, Share, Growth Analysis, By Therapeutic Class(Second Generation, Third Generation), By Treatment(Oral, Injectable), By Distribution channel(Hospital Pharmacies, Retail Pharmacies) - Industry Forecast 2024-2031

Report ID: SQSG35I2011 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 90 | Figures: 76

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Schizophrenia Drugs Market size was valued at USD 7.16 billion in 2019 and is poised to grow from USD 7.58 billion in 2023 to USD 12.58 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

There is huge competition in the Schizophrenia drugs Market. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and product differentiation are some of the growth strategies that are adopted by these key players to thrive in the competitive market. 'Otsuka Pharmaceutical', 'Johnson & Johnson', 'Eli Lilly and Company', 'AstraZeneca', 'Pfizer', 'Bristol-Myers Squibb', 'Allergan', 'Sumitomo Dainippon Pharma', 'Lundbeck', 'Alkermes', 'Vanda Pharmaceuticals', 'Intra-Cellular Therapies', 'ACADIA Pharmaceuticals', 'Sunovion Pharmaceuticals', 'Neurocrine Biosciences', 'Takeda Pharmaceutical', 'H. Lundbeck A/S', 'Recordati S.p.A.', 'Reviva Pharmaceuticals Inc.', 'Minerva Neurosciences Inc.'

The market is anticipated to be driven by an increase in the number of patients receiving treatment and a rising desire for better healthcare infrastructure. In recent years, governments in multiple nations have worked successfully with numerous hospitals to provide better safety for those who suffer from schizophrenia. The market under study is expanding as a result of the growing illness load and the growing need to properly control it.

The mechanisms behind schizophrenia, which were formerly considered to be related to excessive presynaptic dopamine in certain parts of the brain, are now known to be far more complicated, involving structural and chemical abnormalities throughout brain circuits. As a result, drug development efforts have pursued new targets in the search for safer and more effective drugs to treat schizophrenia and psychosis, such as trace amine-associated receptors (TAARs), muscarinic receptors, and serotonergic receptors.

schizophrenia drugs market is dominated by Asia pacific region. Many manufacturers on the market are concentrating on research and development efforts to create safer and more effective medications to treat mental disorders. Key players are also attempting to enter into agreements, colorations, and acquisitions to broaden their product range in order to meet the soaring demand for anti-anxiety and anti-depression medications.

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Global Schizophrenia Drugs Market

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