Overview and Scope
Olanzapine is an atypical antipsychotic medication that is used to treat various mental disorders such as schizophrenia, bipolar disorder, and depression associated with bipolar disorder. It works by modulating the effects of certain chemicals in the brain, particularly dopamine and serotonin.
Sizing and Forecast
The olanzapine market size has grown steadily in recent years. It will grow from $2.55 billion in 2023 to $2.62 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth in the historic period can be attributed to risen incidence of mental health disorders, growing awareness and diagnosis, expanding geriatric population, psychiatric treatment advancements, approval for various indications.
The olanzapine market size is expected to see steady growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The growth in the forecast period can be attributed to increasing mental health awareness, innovation in psychiatric medications, global mental health initiatives, expanded use in pediatric population, integration with mental health services. Major trends in the forecast period include enhanced formulations for elderly patients, introduction of patient support programs, increased regulatory scrutiny and monitoring, exploration of digital health solutions, continued research into new indications.
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Segmentation & Regional Insights
The olanzapine market covered in this report is segmented –
1) By Therapy Type: Monotherapy, Combinational Therapy
2) By Route Of Administration: Oral, Parenteral
3) By Application: Schizophrenia, Bipolar Disorder, Other Applications
4) By End-Users: Hospitals, Homecare, Specialty Clinics, Other End-Users
North America was the largest region in the olanzapine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global olanzapine market report during the forecast period. The regions covered in the olanzapine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing prevalence of emotional illness and mental troubles is expected to propel the growth of the olanzapine market. Emotional illness and mental trouble refer to conditions or disorders that affect an individual’s mental and emotional well-being. The increased emotional illness and mental health issues are driving the demand for mental health treatment solutions, including olanzapine, which is an atypical antipsychotic that is primarily utilized to treat conditions such as schizophrenia and bipolar disorder and may also be prescribed in conjunction with other medications for the treatment of depression. For instance, in January 2023, according to a National Survey on Drug Use and Health report published by the Substance Abuse and Mental Health Services Administration, a branch of the U.S. Department of Health and Human Services, in 2021, approximately 5.5% of adults aged 18 or older, equivalent to 14.1 million individuals, reported experiencing serious mental illness (SMI) within the past year. Among adults in this age group, the highest percentage of SMI was observed among young adults aged 18 to 25, with 11.4%, or 3.8 million individuals affected. This was followed by adults aged 26 to 49, with 7.1%, or 7.3 million individuals, experiencing SMI. Adults aged 50 or older had the lowest percentage of SMI, with 2.5% or 3.0 million individuals affected. Therefore, the increasing prevalence of emotional illness and mental troubles is driving the growth of the olanzapine market.
Key Industry Players
Major companies operating in the olanzapine market report are Aurobindo Pharma Ltd., Teva Pharmaceutical Industries Limited, Dr. Reddy’s Laboratories Ltd., Sun Pharmaceutical Industries Limited, Torrent Group, Apotex Inc., Novartis AG, Mylan N.V., Alkermes Inc., Viatris Inc., Pfizer Inc., Zydus Cadila Healthcare Ltd., Endo International plc, Lupin Limited, Cipla Inc., Eli Lilly and Company, Zhejiang Langhua Pharmaceutical Co. Ltd., Jiangsu Hansoh Pharmaceutical Group Co. Ltd., Bristol-Myers Squibb Company, Sandoz International GmbH, Changzhou Huasheng Pharmaceutical Co. Ltd., Par Pharmaceutical, Jubilant Pharmova Limited, Hansoh Pharmaceutical, AstraZeneca plc, Olanzapine API Manufacturers, Torrent Pharmaceuticals, Egis Pharmaceuticals plc, Actavis Group hf., Hexal AG
The olanzapine market report table of contents includes:
1. Executive Summary
2. Olanzapine Market Characteristics
3. Olanzapine Market Trends And Strategies
4. Olanzapine Market – Macro Economic Scenario
5. Global Olanzapine Market Size and Growth
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31. Global Olanzapine Market Competitive Benchmarking
32. Global Olanzapine Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Olanzapine Market
34. Olanzapine Market Future Outlook and Potential Analysis
35. Appendix
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