思覺失調症治療藥市場 - 成長，趨勢，及預測(2019年-2024年)
Schizophrenia Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The schizophrenia drugs market is expected to register a CAGR of nearly 3.24% during the forecast period, with a revenue of approximately USD 7.8 billion in 2020, and it is expected to reach USD 9.3 billion by 2026.
The COVID-19 pandemic has been continuing to transform the growth of various markets, the immediate impact of the outbreak is varied. While a few industries registered a drop in demand, numerous other markets may continue to remain unscathed and show promising growth opportunities. Initially, the outbreak of COVID-19 worldwide and the lockdown situation across some countries have shown some challenges on the market studied, due to hold on services by the hospitals and clinics, in order to prevent the spread of the COVID-19 virus. The COVID-19 pandemic has a profound effect on mental health. In addition, schizophrenia condition directly increases the risk of contracting COVID-19. However, the underlying health conditions in people with schizophrenia can contribute to more serious COVID-19 symptoms. According to the study article "COVID-19 paranoia in a patient suffering from schizophrenic psychosis" published in June 2020, the COVID-19 pandemic has triggered coronavirus-related hallucinations and delusions, along with changes in the mood in patient population.
Moreover, Subtle changes in cognition and social relationships are expected to precede the actual diagnosis, often by years. According to the World Health Organization 2019 report, the disease affects 20 million people worldwide. Furthermore, this number is likely to continue to increase, along with the growth in the aging population. According to the World Ageing 2019 report, in 2019, there were around 703 million population aged 65 years or over in the world. The number of older persons is projected to double to 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. The aging population are more susceptible to late onset schizophrenia which will further boost the overall market growth. In addition, the American Psychiatric Association and the National Institute of Mental Health had estimated that the risk of individual having schizophrenia during some point in their life to be between 0.3 and 0.7 percent.
Moreover, the increase in the number of patients taking treatment and rising demand for improved healthcare infrastructure are expected to drive the market. In recent years, the government in several countries have collaborated well with many hospitals across nations to give more protection to people from schizophrenia. The rising burden of the disease and the increasing need to manage it effectively is driving the growth of the market studied.
However, the increase in cases of addiction associated with these drugs and patent expiry of major drugs are hampering the overall market growth.
The Second-generation Antipsychotics Sub-segment is Expected to record the Better Growth Over the Forecast Period
The COVID-19 pandemic has affected the supply chain of pharmaceutical products. The restrictions on pharmaceutical manufacturing and export had affected many products sold in some countries, such as the United States, Europe, and other countries. Some of the drugs are manufactured in-house at the pharma companies, while other drugs of the company are manufactured with facilities in other countries, such as contract manufacturing services, which further impacted the supply chain of products. Hence the delayed supply of Second-generation Antipsychotics in pharmacies and other end-user settings caused by restriction or cancellation of the export of medicines have negatively impacted the market growth. However, restrictions on import and export are now being partially relieved which further creates growth avenues in the forecasted period.
Moreover, The usual first-line treatment for schizophrenia is an antipsychotic medication. One of the commonly preferred medications is risperidone, which is also known as a second-generation antipsychotic (SGA) or atypical antipsychotic. Risperidone rebalances dopamine and serotonin to improve thinking, mood, and behavior. It is expected to help in curing some or all of the symptoms of schizophrenia. Moreover, in the United States the Food and Drug Administration (FDA) approved for acute treatment of manic or mixed episodes of bipolar disorder, maintenance (long-term) treatment of bipolar disorder (Risperdal Consta only), and irritability associated with autistic disorders. There are several second-generation drugs available in the market, which are commonly proposed by doctors/physicians. Moreover second-generation and third-generation antipsychotics is considered to be the standard of care in the schizophrenia treatment. Some of the brands prescribed for the managmeent of schizophrenia are Abilify, Zyprexa, Seroquel, Aristada, Latuda, Saphris, and Vraylar among others
Furthermore, continuous support by the government to private and public healthcare companies also boosts the growth of companies in this segment. Therefore, considering the aforementioned reasons, the market for second-generation antipsychotics is likely to grow steadily over the forecast period.
The North American is Expected to Dominate the Market Over the Forecast Period
The United States is the most COVID-affected country across the world. The supply chain of products was highly impacted in this country. Initially, there is a decline in demand for schizophrenia drugs which has negatively impacted the overall market growth.
Moreover, the North American region is expected to dominate the market studied over the forecast period. In the North American region, the United States accounted for the largest market share, as a major section of the population is approaching such medications therapies, primarily due to hectic lifestyles. Moreover, the country offers highly advanced medical care, for early treatment capabilities, along with the involvement of the government in increasing healthcare expenditure. This is driving the growth of the market studied. According to the statistics provided by National Alliance on Mental Illness, 2019, the prevalence of schizophrenia among U.S adults is estimated to be around 1.5 million people per year. In addition, according to the National Institute of Mental Health, 2018) this condition is often diagnosed in the young population with common symptoms presenting earlier in males than in females. In addition in September 2020 the American Psychiatric Association (APA) announced the new evidence-based practice guideline for enhancing the treatment of patients with schizophrenia condition. The goal of American Psychiatric Association is to reduce the mortality, morbidity and significant psychosocial and health consequences associated with this psychiatric condition. Hence such government initiatives is also fueling the overall market growth in North America region. Moreover, technological advancements in the development of new drugs, increasing healthcare expenditure and the presence of well-established healthcare infrastructure are also fueling the growth of the overall regional market to a large extent.
The Schizophrenia Drugs market is competitive and consists of major and small players. In terms of market share, the major players currently dominate the market. Some of the major market players include Alkermes Plc, Bristol-Myers Squibb, Eli Lilly and Company, Johnson & Johnson, and Allergan Plc, among others.