Overview and Scope
Schizophrenia is a long-term and severe mental illness that profoundly impacts a person’s cognitive processes, emotional expression, behavior, and perception of reality, with symptoms encompassing delusions, hallucinations, disordered speech, and peculiar movements. A comprehensive approach to the management of schizophrenia involves the application of pharmaceutical interventions, rehabilitation programs, and supportive services.
Sizing and Forecast
The schizophrenia market size has grown strongly in recent years. It will grow from $5.48 billion in 2023 to $5.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to growing demand for effective treatments, mental health awareness, government initiatives, growing research and development.
The schizophrenia market size is expected to see strong growth in the next few years. It will grow to $7.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to growing personalized medicine, growing digital health solutions, growing improved antipsychotic medications, expanding access to healthcare services . Major trends in the forecast period include new drug development, growing emphasis on early intervention, recovery-oriented cares, expanding clinical trials pipeline for schizophrenia treatments.
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Segmentation & Regional Insights
The schizophrenia market covered in this report is segmented –
1) By Type: Catatonic Schizophrenia; Paranoid Schizophrenia; Undifferentiated Schizophrenia; Hebephrenic Schizophrenia; Residual Schizophrenia; Other Types
2) By Treatment: First-Generation Antipsychotics; Second-Generation Antipsychotics; Third-Generation Antipsychotics; Psychotherapies; Other Treatments
3) By Route of Administration: Oral; Injectables
North America was the largest region in the schizophrenia market in 2023. The regions covered in the schizophrenia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing burden of mental illness is expected to propel the growth of the schizophrenia market going forward. Mental illness refers to a wide range of mental health conditions that affect a person’s thinking, feelings, mood and behavior, profoundly impact day-to-day living and may also affect a person’s ability to relate to others. The rise in mental illness cases has led to an increase in advancements in schizophrenia treatment and the development of new drugs, driving the growth of the market. For instance, in March 2023, according to the National Institute of Mental Health (NIMH), a US-based Department of Health and Human Services, there were an estimated 57.8 million people aged 18 and older with any mental illness (AMI), representing 22.8% of all adults in the United States. Young adults aged 18–25 years had the highest prevalence of AMI (33.7%), followed by people aged 26–49 years (28.1%) and those aged 50 and beyond (15.0%). Therefore, the increasing burden of mental illness will drive the schizophrenia market.
Key Industry Players
Major players in the schizophrenia market are Pfizer Inc., Johnson & Johnson Services Inc., AbbVie Inc., Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company, Eli Lilly and Company, Gilead Sciences Inc., Boehringer Ingelheim International GmbH, Amgen Inc., Otsuka Holdings Co. Ltd., Biogen Inc., Daiichi Sankyo Co. Ltd., Astellas Pharma Inc., Sumitomo Dainippon Pharma Co. Ltd., Mitsubishi Tanabe Pharma Corporation, Recordati SpA, Lundbeck A/S, Neurocrine Biosciences Inc., Torrent Pharmaceutical Ltd., Alkermes PLC, Indivior PLC, Vanda Pharmaceuticals Inc., Intra-Cellular Therapies Inc., Axsome Therapeutics Inc., PsychoGenics Inc., Karuna Therapeutics Inc., Minerva Neurosciences Inc.
The schizophrenia market report table of contents includes:
1. Executive Summary
2. Schizophrenia Market Characteristics
3. Schizophrenia Market Trends And Strategies
4. Schizophrenia Market – Macro Economic Scenario
5. Global Schizophrenia Market Size and Growth
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26. South America Schizophrenia Market
27. Brazil Schizophrenia Market
28. Middle East Schizophrenia Market
29. Africa Schizophrenia Market
30. Schizophrenia Market Competitive Landscape And Company Profiles
Top Major Players:
- Pfizer Inc
- Johnson & Johnson Services Inc
- AbbVie Inc
- Novartis AG
- Bristol-Myers Squibb Company
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