Global Schizophrenia Market Overview
Schizophrenia Market Size was valued at USD 7.84 Billion in 2023. The Global Schizophrenia industry is projected to grow from USD 8.29 Billion in 2024 to USD 13.41 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.49% during the forecast period (2024 - 2032).
The increasing awareness about mental health, better insurance coverage for mental health treatments, and advancements in technology and therapies are also contributing to the market growth of the schizophrenia. These are just a few of the market drivers that are driving the market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
A clinical-stage biopharmaceutical company that uses innovative technology to develop drugs that are taken once a year for chronic conditions, Delpor, Inc. (Delpor), has published the results of the DLP-114 Phase 1b/2a clinical trial where patients with schizophrenia were put on either a 6-month or 12-month duration treatment following one administration for up to a year. It was at the NEI Congress poster session in Colorado Springs on November 10 when these top-line research findings were presented for the first time. This open-label experiment (NCT04418466) observed steady schizophrenia patients as they switched from oral risperidone to risperidone implant over time between six and twelve months after its introduction into the body and analyzed safety, tolerability, and pharmacokinetics (PK). The sample of schizophrenic patients (N=28) comprised subjects who had been on oral risperidone doses ranging from 2 to 3 mg for not less than two weeks prior to randomization that they were to receive six or twelve months of DLP-114 interposition.
The Schizophrenia and Psychosis Lexicon Guide, launched by The National Alliance on Mental Illness (NAMI), the nation’s largest grassroots mental health organization, in April 2024, is a significant milestone in NAMI’s mission towards having understanding, empathy, and respect in communication about mental health. It was developed through extensive research, collaboration with people with lived experiences of mental illness, and expertise from specialist users. Such a collective approach made it comprehensive. For further enlightenment on this subject, kindly download the guide from NAMI’s website that will help healthcare providers, caregivers, advocates and media deal sensitively with persons living with these conditions.
Karuna Therapeutics Inc., a pharmaceutical company specializing in identifying, developing and delivering innovative medicines to patients suffering psychiatric/neurological disorders, today announced that its New Drug Application (NDA) for KarXT (xanomeline/trospium) to treat adult schizophrenics has been accepted by U.S Food & Drug Administration. PDUFA date is September 26th 2024. The basis for this NDA filing is the efficacy and long-term safety results obtained from the EMERGENT program, which includes multiple clinical trials evaluating KarXT as an alternative therapeutic option for schizophrenia. The three EMERGENT-1, EMERGENT-2, and EMERGENT-3 completed positive trials compared KarXT with placebo while the long-term safety profile of KarXT was assessed through two latterly terminated studies, namely EMERGENT-4 and EMERGENT-5.
Schizophrenia Market Trends
Unmet demand for Schizophrenia medication to propel the market growth
The major contributing factor driving the market growth of the schizophrenia is the high unmet medical needs and increasing funding for research and development. This has resulted in the developing of new and innovative drugs with improved efficacy and safety profiles, thus contributing to the market growth of the schizophrenia. Additionally, partnerships and collaborations between pharmaceutical companies, academic institutions, and government organizations to develop and commercialize new drugs are expected further to drive the market growth of the schizophrenia. Thus, this factor is driving the market CAGR.
Additionally, advancements in the field of neuroimaging, genetics and neurochemistry have improved the understanding of the underlying causes of schizophrenia and paved the way for the development of new and more effective drugs. Furthermore, the rise in public-private partnerships, investment in R&D, and favorable reimbursement policies in many countries are also driving the growth of the market.
Furthermore, mental health awareness is increasing globally, leading to a greater emphasis on treating mental disorders. Laws like the ones in the US that require parity in mental and physical health care reimbursement also contribute to the growth of the schizophrenia industry. Thus, it is anticipated that this aspect will accelerate schizophrenia market revenue globally.
Schizophrenia Market Segment Insights
Schizophrenia Type Insights
The market segments of schizophrenia, based on type, includes paranoid schizophrenia, hebephrenic schizophrenia, catatonic schizophrenia and undifferentiated schizophrenia. The paranoid schizophrenia segment held the majority share in 2022 in the schizophrenia market data. Paranoid schizophrenia is a subtype of schizophrenia characterized by symptoms such as delusions of persecution or grandeur and auditory hallucinations. The majority market share of the schizophrenia in 2022 can be attributed to the high prevalence of paranoid schizophrenia among patients and the increasing demand for effective treatment options.
Schizophrenia Treatment Insights
The schizophrenia market segmentation, based on treatment, includes second-generation antipsychotics, third-generation antipsychotics. The second-generation antipsychotics segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2032. The second generation of antipsychotic drugs is expected to generate the highest revenue in the forecast period due to their greater efficacy and safety compared to first-generation drugs. The development of second and third-generation drugs, also known as atypical antipsychotics, was driven by the need to address the serious adverse reactions associated with first-generation drugs, which often worsened the patient's condition.
Figure 2: Schizophrenia Market, by Treatment, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Schizophrenia Route of Administration Insights
The market data of schizophrenia, based on route of administration, includes oral, and injectables. The injectables segment dominated the market revenue of schizophrenia in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2032. The injectable form of schizophrenia drugs helps reduce the risk of relapses, a major concern for patients and healthcare providers. By preventing non-adherence to drugs, these LAIs ensure that the medication stays in the body for a longer time, reducing the risk of cognitive and brain damage from relapses. This is a key advantage of the injectable form of schizophrenia drugs and is expected to drive the market growth of schizophrenia in the forecast period.
Schizophrenia Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America schizophrenia market is expected to exhibit a significant CAGR growth during the study period. The increasing aging population and the presence of robust healthcare infrastructure, and high healthcare spending in the region are expected to drive the market growth of schizophrenia. In addition, the increasing focus on research and development activities, favorable regulatory scenarios, and high demand for innovative and advanced treatments are also driving market growth in North America. Moreover, the high awareness among the population and the high disposable income of individuals in the region are expected to fuel the demand for schizophrenia drugs in North America. New product development, partnerships, partnerships, expansions, mergers, and acquisitions are the main strategies used by the organizations in the market.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: SCHIZOPHRENIA MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe market of Schizophrenia accounts for the second-largest market share. The strong healthcare infrastructure, increasing patient awareness, and availability of innovative products are also driving the market growth of the schizophrenia in Europe. In addition, the presence of a large patient population and well-established healthcare systems in the region is expected to further driving market growth of schizophrenia. Moreover, UK market of schizophrenia held the largest share, and the Germany market of schizophrenia was the fastest growing in the region.
Asia Pacific Schizophrenia Market is expected to grow at the fastest CAGR from 2024 to 2032. The growing burden of mental illness and schizophrenia, as well as the growing geriatric population and increasing healthcare spending, are also expected to contribute to the development of the market of schizophrenia in the Asia Pacific. The favorable government initiatives to increase the healthcare sector, improve patient access to treatments, and boost the development of the pharmaceutical industry are further contributing to the market growth of schizophreniain the region. Additionally, higher consumer disposable incomes per capita have contributed to an increase in schizophrenia drug sales. Further, the China Schizophrenia market held the largest market share, and the India Schizophrenia market was the fastest growing market in the region.
Schizophrenia Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the schizophrenia industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the schizophrenia industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, schizophrenia industry has provided medicine with some of the most significant benefits. The Schizophrenia market major player such as Johnson & Johnson, Bristol-Myers Squibb and Company/Otsuka Pharmaceuticals, AstraZeneca, Eli Lilly, Alkermes, Sumitomo Dainippon Pharma, Pfizer.
Alkermes has a diverse product portfolio, including commercialized products such as Aristada (aripiprazole lauroxil), Vivitrol (naltrexone for extended-release injectable suspension), and Invega Trinza (paliperidone palmitate). The company also has multiple pipeline programs focused on CNS disorders like schizophrenia and depression. Alkermes is continuously working towards developing and commercializing innovative medicines for CNS disorders to address unmet medical needs and enhance patients' lives. In June 2021, the FDA approval of LYBALVI was a significant milestone for Alkermes plc as it expanded its product portfolio for CNS disease treatment and helped meet the unmet needs of patients with bipolar disorder and schizophrenia.
Sumitomo Pharma is a leading pharmaceutical company in Japan specializing in developing, manufacturing, and selling pharmaceutical products, including drugs for schizophrenia, diabetes, and cancer. The company's commitment to researching and developing innovative medicines for unmet medical needs has led to its strong presence in the Japanese and markets. The company proposed a supplemental New Drug Application (sNDA) for Paliperidone Palmitate 6-Month (PP6M) to the U.S. Food and Drug Administration (FDA) in November 2020, which is indicated for treating adults with schizophrenia. The approval of this drug would make it the only long-acting injectable (LAI) schizophrenia medication with a twice-yearly dosing regimen.
Key Companies in the Schizophrenia market includes
- Johnson & Johnson
- Bristol-Myers Squibb and Company/Otsuka Pharmaceuticals
- AstraZeneca
- Eli Lilly
- Alkermes
- Sumitomo Dainippon Pharma
- Pfizer
- Vanda Pharmaceuticals
- Allergan/Geodon Ritcher
Schizophrenia Industry Developments
May 2021:The BTD is intended to expedite the development and review of a drug for serious or life-threatening illnesses when preliminary clinical evidence indicates that the drug may offer substantial clinical benefit. This designation was granted based on positive results from early clinical trials demonstrating the potential for BI 425809 to provide significant improvement in cognitive function for patients with schizophrenia.
June 2020:The launch of LATUDA is expected to enhance the company's product portfolio and increase its presence in the schizophrenia therapeutics market. LATUDA is indicated for the therapy of schizophrenia and as monotherapy therapy to lithium or valproate for the acute therapy of manic or mixed episodes associated with bipolar I disorder.
Schizophrenia Market Segmentation
Schizophrenia Type Outlook (USD Billion, 2018-2032)
- Paranoid Schizophrenia
- Hebephrenic Schizophrenia
- Catatonic Schizophrenia and Undifferentiated Schizophrenia
Schizophrenia Treatment Outlook (USD Billion, 2018-2032)
- Second-generation antipsychotics
- Third-generation antipsychotics
Schizophrenia Route of Administration Outlook (USD Billion, 2018-2032)
Schizophrenia Regional Outlook (USD Billion, 2018-2032)
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North America
-
Europe
- Germany
- France
- UK
- Italy
- Spain
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Rest of Europe
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Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 7.84 billion |
| Market Size 2024 |
USD 8.29 billion |
| Market Size 2032 |
USD 13.41 billion |
| Compound Annual Growth Rate (CAGR) |
 5.49% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018 - 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Type, Treatment, Route of Administration and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered |
The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Johnson & Johnson, Bristol-Myers Squibb and Company/Otsuka Pharmaceuticals, AstraZeneca, Eli Lilly, Alkermes, Sumitomo Dainippon Pharma, Pfizer |
| Key Market Opportunities |
Catering to people in their twenties for early sings of the illness |
| Key Market Dynamics |
Unmet demand for schizophrenic drugs |
Schizophrenia Market Highlights:
Frequently Asked Questions (FAQ) :
The Schizophrenia market size was valued at USD 5.5 Billion in 2022.
The market is projected to grow at a CAGR of 5.49% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are Johnson & Johnson, Bristol-Myers Squibb and Company/Otsuka Pharmaceuticals, AstraZeneca, Eli Lilly, Alkermes, Sumitomo Dainippon Pharma, Pfizer
The paranoid schizophrenia category dominated the market in 2022.
The injectables had the largest share in the market.
