Schizophrenia Treatment Market Prophesied to Grow at a Faster Pace by 2026

Schizophrenia is a chronic mental disorder, characterized by poor emotional responses, breakdown of thinking and lack of social and physical motivation. The prominent causes of the disease include genetic malignancies, neuro-trauma, shocking incidence in life, drug and alcohol abuse and many others. Schizophrenia is a serious disorder which affects how a person thinks, feels and acts. Successful treatment for schizophrenia aims to relieve current symptoms, prevent future psychotic episodes and restore one’s ability to function and enjoy a meaningful life. The signs of schizophrenia are different for everyone. Symptoms may develop slowly over months or years, or may appear very abruptly. The disease may come and go in relapse and remission.Hence, recovery from schizophrenia is a lifelong process.

SchizophreniaTreatment Market:Drivers and Restraints

The schizophrenia treatment market is primarily driven by increased prevalence of schizophrenic disorders due to change in lifestyle, extensive R&D, increase in incidence of various addictions such as alcohol, narcotics and others. Demand of sophisticated therapy by physicians and patients is also driving the schizophrenic treatment market to a great extent. On the contrary, huge cost of R&D and therapy, lack of medical infrastructure, and lack of awareness in certain regions of the world are some of the hurdles that are expected to restrict the growth of this market.

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SchizophreniaTreatment Market:Segmentation

Schizophrenia treatment market is segmented on the basis of product type, distribution channel and geography.

Based on product type, schizophrenia treatment market is segmented as follows:

Medications

Conventional or typical antipsychotic drugs

Atypical antipsychotic drugs

Therapies

Based on distribution channel, schizophrenia treatment market is segmented as follows:

Hospitals including hospital pharmacies

Clinics

Retail pharmacies

Rehabilitation Centers

SchizophreniaTreatment Market:Overview

According to WHO, there are around 24 million people suffering from either schizophrenia or similar symptoms. Moreover, due to strong R&D activities, newer drugs and treatments are being introduced in the market, such as ziprasidone hydrochloride. Medications are the cornerstone for the treatment of schizophrenia. However, medications may lead to side effects. Hence, medication with supportive services and therapies is a perfect combination to treat schizophrenia. Relationship problems, risk of attempting suicide, alcohol and drug abuse and consequently, disruption to normal daily activities has led to the growth of schizophrenia treatment market.

SchizophreniaTreatment Market:Region-wise Outlook

The schizophrenia treatment market is also segmented on the basis of geography, such as North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. The North American region is considered as the largest market, followed by Europe. However, Asia-Pacific region is considered as the most promising market in the upcoming future.

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SchizophreniaTreatment Market: Key Players

Some of the top key players in schizophrenia treatment market include Novartis AG, AbbVie, Inc., PsychoGenics, Inc., Pfizer, Inc., Eli-Lilly and Company, Bristol-Myers Squibb Company, AstraZeneca Plc., Avineuro Pharmaceuticals, Inc. and Merz Pharmaceuticals GmbH.

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This release was published on openPR.