Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Schizophrenia Drugs Market, Size, Global Forecast Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
This comprehensive research on the global Schizophrenia Drugs Market indicates a projected expansion to a size of US$ 9.46 billion by 2030, marking a CAGR of 3.51% from 2023 to 2030.
The analysis sheds light on the complexities of schizophrenia, a mental health disorder with significant health implications and challenges for patients and healthcare systems worldwide. With an emphasis on the introduction of second- and third-generation antipsychotic drugs, the market is witnessing a paradigm shift in treatment preferences. These newer antipsychotics are favored for their reduced side effects compared to first-generation medications. The landscape is further catalyzed by a consistent rise in FDA approvals catering to these advanced treatment options.
Retail Pharmacies Gain Greater Market Share with Improved Accessibility to Antipsychotic Drugs
The study segments the market by treatment method, revealing a vigorous growth trajectory for injectable schizophrenia drugs. This segment's prominence can be traced to their long-term effectiveness in relapse prevention and improved adherence due to lower dosing frequencies.
Secondary Therapeutic Class Witnesses Surge in Demand
As the report delineates, the second-generation antipsychotics segment is set to experience significant growth. With an ever-increasing burden of mental health disorders worldwide, these medications offer hope with their proven efficacy in managing symptoms, such as hallucinations and delusions, commonly associated with schizophrenia.
Asia Pacific and Notably China Show Robust Growth within the Schizophrenia Drugs Market
Specifically spotlighting regional developments, China is identified as showing remarkable growth within the Asia Pacific schizophrenia drugs market. Factors such as a growing geriatric population, which is more prone to late-onset schizophrenia, and heightened health infrastructure investments underpin this surge. The extensive report provides invaluable insights into the market dynamics, segmented by class, treatment, end-user distribution channels, and a detailed country-wise analysis. The research reflects the considerable efforts of key players identified within the sector, including their strategies and financial snapshots.
End-user Preference Trends: Hospital vs. Retail vs. Online Pharmacies
Distribution channels play an integral role in the Schizophrenia Drugs Market, with retail pharmacies securing a dominant share. The convenience and accessibility they offer affirm their essential position in the distribution network for schizophrenia drugs. The study anticipates this trend to continue, highlighting the role of retail pharmacies in the broader mental health ecosystem.
Comprehensive Global and Regional Market Analysis
The document meticulously analyzes 18 countries, providing a nuanced perspective on the global and regional markets. It includes the markets of the Americas, Europe, Asia Pacific, the Middle East, Africa, and the Rest of the World, detailing each region's contributions to the overall market landscape.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 165 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $7.43 Billion |
| Forecasted Market Value (USD) by 2030 | $9.46 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
Companies Mentioned
- H Lundbeck
- Pfizer Inc.
- AbbVie
- AstraZeneca
- Bristol Myers Squibb
- Eli Lilly
- GlaxoSmithKline
- Johnson & Johnson
- Takeda Pharmaceuticals
- Novartis AG
For more information about this report visit https://www.researchandmarkets.com/r/gl77jt
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