Schizophrenia is a chronic disorder that has an adverse effect on the lifestyle of an individual. Schizophrenic patients interpret reality in an abnormal manner. The disorder results in various behavioral changes that include grouping of hallucinations, delusions, etc. Schizophrenia treatment is a lifelong procedure. The medication used for treating schizophrenia controls the behavior of patients. These medications control the dopamine in the brain, and hence the overall behavior of the schizophrenic patient. Antipsychotics are used to control and manage schizophrenia disorders. Usually, second generation antipsychotic medications are prescribed as they have reduced side effects as compared to first generation antipsychotic medications. Apart from medications, schizophrenia is also treated using therapies such as individual therapy, social skill therapy and other therapies that enhance lifestyle of schizophrenic patients.
In the research report on global schizophrenic treatment market, various therapies and their respective market scenario across various regions is covered. The research report also entails various trends, drivers, challenges and opportunities are discussed. According to this research report, the global schizophrenic treatment market is projected to expand at a robust rate in the coming years.
According to World Health Organization, in 2013, approximately 50 million people in the globe were suffering from schizophrenia. Even though the rate of schizophrenia is reducing, the treatment rate and prescription rate for this disorder is increasing, consequently creating potential growth opportunities for schizophrenia treatment. The diagnosis rate of schizophrenia has also increased since past several years, owing to increasing footfall of patients. Post the introduction of the first atypical antipsychotic treatment for schizophrenia in 1970, the rate of treatment seeking has considerably increased owing to less side effects of atypical psychotic medications.
Research and commercialization collaborations to fuel global market growth
Several players involved in schizophrenia treatment market are concentrating on building commercialization and research alliances with a view to exploit prospects. For instance, in 2014, Vanda Pharmaceuticals entered into a sub licensed agreement with Novartis that ultimately resulted into global licensing from Novartis related to fanapt. In 2016, Astella collaborated with Astra Zeneca in order obtain exclusive rights from Astra Zeneca to manufacture quetiapine fumarate. The synergy generated through collaborations and partnerships is creating a positive and immediate growth impact as compared to mergers and acquisitions. In addition, manufacturers of schizophrenia medications are focusing on grasping new opportunities for revenue generation. To achieve this, manufacturers are targeting emerging markets for potential growth opportunities.
Atypical Antipsychotics to lead the global market with a high revenue share
There are several medications for schizophrenia. Of these, atypical antipsychotic treatment, a second generation antipsychotic medication, is highly used owing to comparatively less side effects and high effectiveness of the medication. The atypical antipsychotics segment in the product type category is projected to expand at a high rate during the forecast period to reach a valuation more than US$ 1 Bn by the end of the period of assessment (2027).
Miscellaneous antipsychotic agents are also gaining high traction. This category includes various agents, to name a few, lithium, pimozide, molindone, haloperidol and loxapine are used to treat schizophrenia. Of these, haloperidol and lithium are the most referred choice of physicians due to their higher effectiveness and comparatively low pricing. The miscellaneous antipsychotic agents segment is projected to expand at a value CAGR of 6.1% throughout the period of assessment.
The comprehensive research report on global schizophrenia treatment market by Persistence Market Research assists the reader in chalking key growth strategies on the basis of vital insights on every market segment at a global level thus providing the much necessary value addition to gain tempo in the changing dynamics of the global market in the current as well as future market scenario.
The report covers a holistic viewpoint of the entire market
Global schizophrenia treatment market research report focuses on various developments, trends, opportunities, restraints and drivers that influence the growth of the global market. These aspects are analyzed across key regions of the globe thus portraying a global perspective of the schizophrenia treatment market. The reader can gain detailed understanding of the market dynamics across regions that can assist him/her to plan future moves from a growth perspective. Regions with optimum potential are included in this research study with which possible revenue pockets can be identified. Additionally, the research removes all the bias giving a realistic shape to the market insights.
Unique research process to gather relevant market acumen
Credibility of the researched data and statistics lie in the uniqueness of the research methodology which ensures higher accuracy. In-depth assessment of the global schizophrenia treatment market is underpinned by an extensive research process that includes both secondary and primary research to obtain relevant numbers. The data collected undergoes several funnels of validation and re-examination at each step, as the research progresses. This ensures delivering value with data having higher degree of accuracy. The expert opinions of the market observers and the domain experts are extrapolated and the triangulation of these enables the analysts to arrive at a much accurate global market statistics.
The research report on global schizophrenia treatment market includes a dedicated section describing competitive scenario. It covers key players and their standing in the global market. The section involves the strategies applied by the key players, their innovations, their product portfolios, developments and product evolutions, their area wise spread and future expansion plans, the mergers and acquisitions taken place, the market shares and revenues of these tier players, financials, key personnel, etc. This intelligence dashboard completes with the inclusion of the analysis of the various aspects of the key competition in the market. Competitive assessment has been done in a systematic way to enable the reader to draw necessary inferences that can be used to gain competitive advantage.
Actionable insights delivered
The comprehensive research report on global schizophrenia treatment market offers valuable insights with weighted analysis. Every organization has its own integral research team, which strives to gather sufficient research data of the market. Persistence Market Research aims at doing all the heavy lifting by providing unbiased insights which can be actioned by the research team thus supporting in achieving their research milestones. Also, it extends 24x7 analyst support to solve queries regarding the research as the need should be. The report is systematically structured to deliver convenience along with a complete market intelligence package.
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