The Global Schizophrenia Market Is Expected To Grow At A CAGR Of 3.2% During The Forecast Period 2017-2023

Schizophrenia is a chronic and severe mental disorder that affects the thinking, feeling, and behavior of the person. People with schizophrenia may be more in imagination world and lost touch with reality. Although schizophrenia is not as common as other mental disorders, the symptoms can be very disabling. The symptoms of this disease are categories in three way that are positive, negative, and cognitive.

People with schizophrenia are more prone to die earlier than the normal population. This is often due to physical illnesses, such as cardiovascular, metabolic and infectious diseases. According to WHO, in 2016, More than 50% of people with schizophrenia are not receiving appropriate care. 90% of people with untreated schizophrenia live in low and developing countries, such as India, Pakistan, etc.

Increasing prevalence of patients seeking treatment and rising demand for improved healthcare infrastructure are expected to drive the market. Moreover availability of funds and WHO initiative towards developing countries fuel the market in developing region.

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The Americas dominate the global schizophrenia market owing to the presence of awareness of healthcare, high healthcare spending, and increasing government support for research & development.

Europe holds the second largest share of the global schizophrenia market as result of increasing focus of various government agencies on the treatment of mental illness disease such as schizophrenia. Moreover, the growing public awareness about schizophrenia likely to boost the Europe market.

Asia Pacific is the fastest growing schizophrenia market across the globe. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government’s initiatives for research & development projected to drive the market in India, Iran, Pakistan, Tanzania, over the forecasted period. Additionally, WHO initiative for training primary health-care personnel, providing access to essential drugs, and supporting families in providing home care lead the market growth of the schizophrenia in the region.

The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market.

Segmentation

The global schizophrenia market is segmented on the basis of by diagnosis, by treatment type, and by end user. On the basis of the diagnosis, it is segmented into blood and urine tests, brain imaging, vision testing, and others. On the basis of the treatment type, it is segmented into surgery, radiation therapy, medications, and others. On the basis of the end user, it is segmented into hospitals, clinics, diagnostic centers, rehabilitation centers and others.

Key Players

Some of key the players in the market are Minerva Neurosciences (U.S.), Promentis Pharmaceuticals, Inc. (U.S.), Bristol-Myers Squibb (U.S.), PsychoGenics Inc. (U.S.), Vineuro Pharmaceuticals, Novartis AG (Switzerland), Merz Pharma GmbH & Co. KGaA (Germany), AbbVie Inc. (U.S.), Eli-Lilly and Company (U.S.), AstraZeneca Plc (U.K)

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Although the causes of Schizophrenia are still unclear, but some suggest that the cause of this disease include genetics, biology, possible viral infections, and immune disorders. It can be recognized if any one shows symptoms such as, hallucination, delusion, and abnormal behavior.

The schizophrenia market growth is majorly attributed to the increasing patient population suffering with this disease. According to WHO, in 2016, more than 21 million people around the world were diagnosed with schizophrenia. Additionally people with schizophrenia have 2-2.5 % more chances to die earlier than the general population.

A research study published in WHO, in 2016, stated that schizophrenia is more common among males in comparison to females, around 12 million men and 9 million women were diagnosed with schizophrenia.

Moreover, uses of evidence-based technical guidance, tools and training packages for expanding the services in the developing countries are adding fuel to the schizophrenia market. However, majority of the people with this disease in the developing countries are unable to get the treatment owing to lack of effective structure for the treatment in mental hospitals. Increase in number of patients seeking treatment and the rising demand for improved healthcare infrastructure are expected to drive the market.

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