Lewes, DE -- (SBWIRE) -- 04/29/2014 -- Schizophrenia Treatment Market: Novel Products to Provide Slight Boost by 2022, While Unmet Needs Remain, says Publisher
The global schizophrenia treatment market value is expected to undergo a modest increase over the coming decade, climbing from $6.3 billion in 2012 to $7.9 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 2.4%, according to a new report from research and consulting firm by Publisher.
The company’s latest report* states that out of the seven major markets (7MM: the US, France, Germany, Italy, Spain, the UK and Japan), the US dominated the schizophrenia space in 2012 with sales of $5.2 billion and a global share of 83%. It will maintain its market-leading position by 2022 with sales of $6.1 billion, representing a CAGR of 1.6% during the forecast period.
Publisher attributes the anticipated market expansion to a rising awareness of mental health, along with increasing utilization of long-acting injectable (LAI) antipsychotics and various new product launches.
Among the drugs that are due to enter the market during the forecast period are Otsuka’s brexpiprazole, Roche/Chugai’s bitopertin, EnVivo’s EVP-6124 and Alkermes’ aripiprazole lauroxil and Invega Sustenna (Three-Month).
According to Analyst covering Neurology, “These latter two drugs will introduce new LAI treatments and expand the global market options by 33%. The three-month version of Pfizer’s Invega Sustenna in particular will provide patients with a reduced dosing burden.
“As novel products in an emerging part of the schizophrenia drug market, these agents could be met with significant sales, due to their higher costs of therapy and a growing popularity of LAIs in this space.”
Browse this report: http://www.marketresearchreports.com/globaldata/pharmapoint-schizophrenia-global-drug-forecast-and-market-analysis-2022
However, such costs may well push patients toward generic alternatives, subsequently hindering any further growth in the global schizophrenia market, according to Publisher.
Furthermore, the level of unmet need in schizophrenia and related mental health disorders is one of the highest in medicine today, presenting another significant barrier to the market.
According to Analyst, “Schizophrenia treatment currently consists of first-generation antipsychotics and atypical therapies, which do not adequately satisfy patients’ needs.
“While the pipeline boasts several candidates targeting negative and cognitive symptoms, in addition to a number of LAI therapies, the fierce competition surrounding the schizophrenia market means these products will have to demonstrate that their utility surpasses those of currently marketed options,” the analyst concludes.
PharmaPoint: Schizophrenia - Global Drug Forecast and Market Analysis to 2022 report provides an overview of schizophrenia, including etiology, general symptoms and country-specific treatment recommendations and compliance data. The key topics covered include strategic competitor assessment, market characterization, unmet needs, clinical trial mapping and implications for the schizophrenia market.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by Publisher’s team of industry experts.
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