Manufacturers Focusing on Emerging Markets
Big pharmaceutical players are focusing on emerging markets owing to stagnation in developed markets. Changing disease patterns, lifestyle changes, improved healthcare access and increasing demand for superior quality healthcare services have contributed to the lucrativeness of emerging, markets. With respect to schizophrenia treatment, the rate of schizophrenia disorder in several countries in developing regions is increasing at a high scale. Governments in this region have taken initiatives to deal with the growing suicidal situation caused due to schizophrenia. This has presented lucrative opportunities for players involved in the treatment of schizophrenia to offer advanced treatment and therapies to treat schizophrenia in emerging economies. Emerging economies such as India, China, Australia and New Zealand are expected to showcase high adoption of schizophrenia medications. However, manufacturers face challenges tapping emerging economies. Challenges such as local competition, healthcare infrastructure and lack of established regulatory policies are posing entry barriers to global manufacturers.
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Innovative Product Launches to Contribute to the Growth of the Global Schizophrenia Treatment Market
Antipsychotic drugs used in treatment of schizophrenia also have undesirable effects. This can have an impact on their usage, thus resulting in non-adherence to antipsychotic drugs for schizophrenia treatment. However, introduction of advanced medications that require less frequent dosing such as long acting antipsychotic injections are enhancing the quality of schizophrenia treatment. Several long acting injectable dosage forms have gained high acceptance owing to reduced patient burden. This has fuelled the growth of the global market for schizophrenia treatments.
Global Schizophrenia Treatment Market: Segmentation Highlights
The global market for schizophrenia treatment is segmented on the basis of product type, distribution channel and region.
In the end user category, the hospital pharmacies segment is the largest with a high market share and value. The segment lead the global market in 2017 and is expected to continue with tis dominating streak in the years to follow. Drug stores segment is the second largest with an estimate of around US$ 441.5 Mn in 2017. In addition, the e-commerce segment is projected to expand at the highest CAGR during the forecast period.
By region, Asia Pacific excluding Japan is poised to showcase high growth potential for schizophrenia treatment market. The rate of adoption of schizophrenia treatments in this region is poised to expand at a high pace during the forecast period. North America leads the global schizophrenia treatment market.
According to Persistence Market Research, the global schizophrenia treatment market was valued at about US$ 1550 Mn in 2017 and is estimated to reach a market valuation of more than US$ 2600 Mn by the end of the year of assessment (2027). The global market for schizophrenia treatment is projected to expand at a high value CAGR of 5.6% throughout the period of assessment, 2017-2027.
The research report on global schizophrenia treatment market incudes profiles of key players such as Johnson & Johnson Services, Inc., Bristol-Myers Squibb Company, Otsuka Holdings Co., Ltd., AstraZeneca, Sumitomo Dainippon Pharma Co., Ltd., Eli Lilly and Company, Alkermes, Vanda Pharmaceuticals, ALLERGAN and Pfizer Inc.
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