Market Research Report
Schizophrenia Drugs Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||871430|
|Published||Content info||114 Pages
Delivery time: 2-3 business days
|Schizophrenia Drugs Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: May 1, 2019||Content info: 114 Pages||
Schizophrenia is a mental disorder characterized by disruptions in thought processes, perceptions, emotional responsiveness, and social interactions. Although the course of schizophrenia varies among individuals, schizophrenia is typically persistent and can be both severe and disabling. Schizophrenia is typically diagnosed in the late teen years, in the early thirties and tends to emerge earlier in males (late adolescence - early twenties) than females (early twenties - early thirties). More subtle changes in cognition and social relationships may precede the actual diagnosis, often by years. Findings from the 2016 global burden of the disease study indicated that population growth and aging has led to an increasing disease burden attributable to schizophrenia, globally, especially in the middle-income countries. Globally, an estimated 21 million people are living with schizophrenia and this number is likely to continue to rise with population aging and growth. Canada also has a high prevalence of schizophrenia attributable to three possible factors. Firstly, many studies have found that immigrants have an increased incidence of schizophrenia in both the first and second generations. Canada has a high rate of immigration, about twice that of the United States; 20% of Canadians were born in another country. Secondly, schizophrenia is more common in countries at high latitude, although the cause of this effect is unknown. Thirdly, urban populations have a greater prevalence of schizophrenia, and 80% of Canadians live in cities.
Hence, the rise in the incidence of the disease and the increasing need to manage them effectively has led to the growth of the Schizophrenia Drugs market.
Schizophrenia is characterized by delusions, hallucinations, and other cognitive difficulties, which can often be a lifelong struggle. Schizophrenia is a chronic and severe mental disorder that affects how a person thinks, feels, and behaves. People with schizophrenia may seem like they have lost touch with reality. Although schizophrenia is not as common as other mental disorders, the symptoms can be very disabling.
Second-generation Antipsychotics is Expected to Grow with a high CAGR in the Forecasted Period
Schizophrenia is a serious mental illness, which for some people can become a long term problem. The usual first-line treatment for schizophrenia is antipsychotic medication. One of the commonly preferred medications is risperidone that works in the brain to treat schizophrenia. It is also known as a second generation antipsychotic (SGA) or atypical antipsychotic. Risperidone rebalances dopamine and serotonin to improve thinking, mood, and behavior. Risperidone may help some or all of these symptoms of schizophrenia and is also FDA approved for acute treatment of manic or mixed episodes of bipolar disorder, maintenance (long-term) treatment of the bipolar disorder (Risperdal Consta® only), and irritability associated with autistic disorders. In cases where patients do not respond well to these medications, high doses are often used. This can cause severe adverse effects and set up a cycle where individuals gain some benefit from the medication, develop side effects, then stop taking it and relapse. Therefore, it would be helpful to find the optimum dose of each antipsychotic for different groups of people. There are several second-generation drugs available in the market which are commonly proposed by the doctors/physicians, and is thus well established in the market. Hence, due to the above-mentioned reasons, the market for second-generation antipsychotics is likely to grow steadily in the Schizophrenia Drugs market.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. In the North America region, the United States holds the largest market share and this is due to the due to a large section of the population approaching such medications therapy in hectic lifestyle from several parts of the world. The country also offers highly advanced medical care, for early treatment capabilities, along with more government involvement in increasing healthcare expenditure which has helped the growth of the schizophrenia drugs market in the country.
The Schizophrenia Drugs market is competitive and consists of major players and small players. In terms of market share, these major players currently dominate the market. Some of the major players of the market are Alkermes plc, Bristol-Myers Squibb, Eli Lilly and Company, Johnson & Johnson, Allergan plc and are among others.