Schizophrenia Drugs Agents Market Overview
Schizophrenia is a central nervous system disorder which affects around 1% of the total global population. It is characterized by various symptoms including hallucinations and thought disorders. It could be due to genetic, environmental or chemical factors or sometimes due to a combination of them.
Increased prevalence of schizophrenia cases and increased healthcare expenditure are driving the market growth. Increased R&D projects in the healthcare segment and growing number of cases of alcohol and drug addiction are further fuelling the market growth. There has been a arise in the demand for sophisticated treatment by patients which is propelling the market growth. However, high investment costs and lack of awareness are restraining the market growth.
Schizophrenia Drugs Agents Market Forecast Report (2018-2023)
Schizophrenia Drugs Agents Market was worth USD 6.96 billion in 2018 and estimated to be growing at a CAGR of 2.4%, to reach USD 7.84 billion by 2023
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Advanced Wound Care Market Segmentation
The market for Schizophrenia Drugs Agents is broadly categorized into therapeutic class and treatment. By therapeutic class the market is divided into second generation anti-psychotics, third generation anti-psychotics and others. Second and third generation anti-psychotics are the preferred line of treatment for schizophrenia. By treatment the market is classified into oral and injectable anti-psychotics.
On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Schizophrenia Drugs Agents market was dominated by North America closely followed Europe. Asia Pacific is expected to grow at a high CAGR.
Key Developments in the Market
- AstraZeneca has entered into an agreement with Luye Pharma Group, Ltd. (Luye Pharma) for the sale and license of the rights to Seroquel and Seroquel XR in the UK, China and other international markets, the transaction is part of AstraZeneca’s strategy to focus on its three main therapy areas of Oncology, Cardiovascular, Renal & Metabolism and Respiratory. Seroquel, used primarily to treat schizophrenia and bipolar disease, has lost its compound patent protection globally
The major companies dominating this market for its products and services are
- Johnson & Johnson,
- Sumitomo Dainippon,
- Eli Lilly,
- Bristol-Myers Squibb/
- Otsuka Pharma,
- Vanda Pharma,
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