Schizophrenia Market Trends, Revenue, Demand and Research Report by 2030
Schizophrenia is a disorder which was an unknown field until the past few decades, let alone its treatment. However, the schizophrenia market has been rising over recent years, with the availability of plenty of treatment options. The emergence of antipsychotic medicines and biosimilars that has introduced the world with the new age schizophrenia treatments are propelling the market growth, increasing hope & trust among people and assuring them the best outcomes.
With each advancement transpired in Schizophrenia
management, the size of the market is ascending a level above on the global
platform. Attributing to the changing and heady lifestyle, prevalence of mental
disorders is rising too. Moreover, advancements in medical science are
providing impetus to the growth of the Schizophrenia market, escalating it
pervasively.
Schizophrenia
Market trends was valued at USD 5.5 billion in 2022 and is projected to
grow from USD 5.76 Billion in 2023 to USD 8.06 billion by 2030, exhibiting a
compound annual growth rate (CAGR) of 4.9% during the forecast period (2023 -
2030). Additional factors that contribute to the growth of the
Schizophrenia market include change in lifestyle and prevailing addictions,
such as alcohol, narcotics, and others, acting as a severe risk factor leading
to the disorder. Initiatives taken by governments of countries across the globe
are playing a major role in schizophrenia treatments.
The emergence of advanced technology for the treatment of
schizophrenia disorders are triggering the growth of the market. Also, grants
and funds transpired into the R&D activities to develop novel treatments,
therapeutics, and medicines are fostering the market growth to an extent.
On the other hand, the considerable cost associated with the
R&D, clinical trials, and therapy are impeding the growth of the market.
Also, the lack of medical infrastructure and awareness towards schizophrenia as
a disorder are acting as hurdles to the market growth in certain regions.
Moreover, factors such as approved medications that address
positive symptoms, but fall short in treating negative and cognitive symptoms
alongside, the poor adherence seen in up to two-thirds of schizophrenic
patients, would restrict the growth of this market during the forecast period.
Global Schizophrenia Market- Segments
The report is segmented into four key market dynamics to
widen the scope of understanding,
By Diagnosis :
Blood and Urine Tests, Brain Imaging, and Vision Testing, among
others.
By Treatment Type :
Surgery, Radiation
Therapy, and Medications, among others.
By End-users :
Hospital, Clinics, Diagnostic Centers, and Rehabilitation Center, among others.
By Regions :
Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global Schizophrenia Market- Regional Analysis
North America leads the global Schizophrenia
market report with the largest market share. The region is expected to
create a substantial revenue pocket the end of the forecast period. Factors
such as the enormous demand for sophisticated therapies by doctors and patients
drive regional market growth. The US and Canada are the leading markets for
Schizophrenia treatments with respect to revenue generation and market
penetration across the globe.
The Schizophrenia market in the European region takes the
second lead, growing at a considerable CAGR. The presence of large treatment
facilities and patient pool in the region foster the growth of the
market.
The Asia Pacific Schizophrenia market is expected to become
a briskly growing market globally. Countries such as China, Japan, India,
South Korea, Singapore, Taiwan, Malaysia, Australia, and New Zealand would
stand at the forefront of the market in the region throughout the forecast
period.
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