Global Schizophrenia Drugs Market By Drug Class (First Generation, Antipsychotics, Second Generation Antipsychotics, Third Generation Antipsychotics, and Other Drug Classes), By Route of Administration (Oral and Parenteral), By Distribution Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Schizophrenia Drugs Market size is expected to be worth around USD 12.6 Billion by 2032 from USD 7.4 Billion in 2022, growing at a CAGR of 5.6% during the forecast period from 2023 to 2032.

Schizophrenia refers to a serious mental disorder affecting a person’s thinking, behavior, and feelings. It is a chronic condition that generally develops in early adulthood or late adolescence. It is characterized by a combination of several symptoms that includes delusions, hallucinations, disordered thinking, and speech, as well as social withdrawal. Treatment for schizophrenia usually comprises a combination of antipsychotic medications and psychotherapy. This can help to improve the quality of life by managing the symptoms of schizophrenia patients. The global market for antipsychotic medications is anticipated to expand more significantly in coming years owing to several factors, such as the rising prevalence of schizophrenia, the increasing geriatric population, and a growing number of mental health awareness campaigns.

Key Takeaways

• Market Growth: Schizophrenia drugs market to grow at 5.6% CAGR, reaching USD 12.6 billion by 2032 from USD 7.4 billion in 2022.
• Schizophrenia Prevalence: Schizophrenia affects 0.5-1% of the global population, driving demand for treatments.
• Newer Drugs Impact: Second-generation antipsychotics led in 2022 due to efficacy, with fewer side effects.
• Oral Dominance: In 2022, oral administration held the majority share due to convenience and flexibility.
• Hospital Pharmacies: Hospital pharmacies projected to dominate, providing direct medication access to patients.
• Asia-Pacific Growth: The region is set to grow at the fastest CAGR, driven by increased mental health awareness.
• Patent Expiration: Generic drugs entering the market, increasing competition, and lowering treatment costs.

Driving Factors

The emergence of newer drugs to drive the market growth

The market growth is expected to be influenced by the emergence of newer drugs, such as second and third-generation antipsychotic drugs. There is an increase in awareness and understanding of mental health disorders and illness, which in turn increases the demand for schizophrenia drugs. Moreover, a strong and robust pipeline, a rise in medical interventions to treat mental health disorders, grow a number of schizophrenia patients, and high adoption of advanced schizophrenia therapeutics in developing markets are likely to surge the growth of the global schizophrenia drugs market.

Rising prevalence of schizophrenia

The increase in the prevalence of schizophrenia is a significant driver of the market, which creates a growing need for effective treatments. Schizophrenia affects about 0.5 to 1% of the population worldwide. In addition, the increasing number of patients willing to try new treatments is expected to boost the market growth during the forecast period.

Restraining Factors

Limited understanding regarding underlying causes of schizophrenia and side effects associated with existing treatment restrict the market growth

The exact underlying causes which lead to schizophrenia are not completely understood. This makes it challenging to develop targeted treatments that can address the root cause of the disorder. In addition, the side effects associated with the drugs used in the treatment of schizophrenia, such as insomnia, dry mouth, drowsiness, weight gain, and various other side effects, are likely to hamper the market growth of the schizophrenia drugs market.

Drug Class Analysis

Second generation antipsychotics segment accounted for the largest revenue share in 2022

Based on drug class, the global schizophrenia drugs market is divided into first-generation antipsychotics, second-generation antipsychotics, third-generation antipsychotics, and other drug classes. Among these, the second-generation antipsychotics segment held the largest revenue share in 2022. The expansion of this segment is mainly influenced by its rising usage in the treatment of schizophrenia due to its high efficacy over first-generation drugs. The second generation antipsychotics act by blocking the dopamine receptor in the brain. This reduces the symptoms such as delusions, hallucinations, and social withdrawal. Moreover, the segment growth is also propelled owing to fewer side effects compared to first-generation antipsychotics.

Route of Administration Analysis

The oral segment held the largest market share in 2022

Based on the route of administration, the market for schizophrenia drugs is segmented into oral and parenteral. Among these, the oral segment dominated the market with the largest share in 2022. This growth can be highly attributed to the ease of administration of oral drugs over the parenteral. Oral drugs offer convenience and flexibility in dosing. Patients can self-administer the dose on a daily basis. According to the symptoms and response to treatment, the patients can adjust their dose. In addition, the parenteral segment is anticipated to expand more significantly during the forecast period owing to the increasing availability of long-acting injectable antipsychotics that delivers the sustained release of medication as well as improve medication adherence in schizophrenia patients.

Distribution Channel Analysis

Hospital pharmacies are projected to dominate the global schizophrenia market during the forecast period

Based on distribution channels, the global schizophrenia drugs market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, hospital pharmacies are expected to account for the largest market share during the forecast period. This significant growth is likely to impact individuals with schizophrenia, who often requires hospitalization during the treatment at some point. During this period, the patients receive the medications directly from the hospital pharmacies.

Key Market Segments

By Drug Class

• First Generation Antipsychotics
• Second Generation Antipsychotics
• Third Generation Antipsychotics
• Other Drug Classes

By Route of Administration

• Oral
• Parenteral

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Growth Opportunities

Personalized medicine and digital health offer significant growth opportunities

There is an increased need for personalized treatment methods that can take into account the individual differences in symptoms and underlying biological factors, as schizophrenia is a highly heterogeneous disorder. This represents a significant opportunity in order to develop personalized medicine approaches, such as biomarker-based diagnostic tests and targeted therapies. Moreover, digital health has significant potential to improve the management of schizophrenia as digital health technologies, such as remote monitoring devices and mobile apps, can help patients to better monitor their symptoms, access support from healthcare providers, and track medication adherence.

Latest Trends

Expiration of patent and government initiatives

In recent years, several patents for schizophrenia drugs has been expired. This has led to the arrival of generic drugs into the global market by increasing the competition as well as reducing the drug’s cost and making them more accessible to schizophrenia patients. Moreover, government initiatives in several countries to increase access to treatment for schizophrenia and to improve mental healthcare is anticipated to propel the market growth in the near future. In addition, pharmaceutical companies are heavily investing in R & D of new drugs for schizophrenia that is expected to have more efficacy and fewer side effects over older drugs.

Regional Analysis

North America dominated the global schizophrenia drugs market with the highest revenue share of 47% in 2022

Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, And Middle East & Africa. Among these regions, North America accounted for the highest revenue share in 2022. This significant market share can be highly attributed to favorable reimbursement policies, the high prevalence of schizophrenia, and the easy availability of drugs in this region. Moreover, the market growth of this region is also influenced by the introduction of novel drugs with fewer side effects and improved efficacy. This region is also home to several major pharmaceutical companies manufacturing the antipsychotic drugs.

Asia Pacific is projected to grow at the fastest CAGR during the forecast period

The market for schizophrenia drugs in Asia Pacific is expanding as a result of growing awareness about mental health, increased access to healthcare services, and increased healthcare expenditure. Moreover, the market growth of this region is also fueled by a large patient pool in countries such as India, China, and Japan, which leads to an increase in demand for healthcare services.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America

• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

The prominent players in the global schizophrenia drugs market are presently focused on implementing various growth strategies such as new product launches, collaborations, partnerships, mergers & acquisitions, and competitive pricing.  Moreover, they are concentrating on spreading awareness and marketing their targeted products to capture a significant market share. In addition, the key players are increasing investments and are involved in research and development activities to develop novel drugs. This forms the competitive landscape in the global schizophrenia drugs market and drives further market expansion.

Market Key Players

• Eli Lilly and Company
• Johnson & Johnson
• AstraZeneca
• Pfizer Inc.
• AbbVie Inc.
• Otsuka Pharmaceutical Inc.
• Bristol-Myers Squibb Company
• Sumitomo Dainippon Pharma
• Alkermes PLC
• Other Key Players

Recent Developments

• In March 2022, AbbVie entered into a license agreement and co-development with Gedeon Richter to develop, research, and commercialize novel dopamine receptor modulators for the potential treatment of neuropsychiatric diseases.
• In February 2022, Vanderbilt University signed a global license and research collaboration agreement with Neumora Therapeutics in order to develop precision medicines for brain disorders through the incorporation of neuroscience and data science. The license program consists of two new series of compounds that targets schizophrenia and other neuropsychiatric disorders.

Report Scope: