GlobalData Forecasts Growth In Global Schizophrenia Drug Market
A newly released report by GlobalData forecasts growth in the global schizophrenia drug market in the next decade thanks to current and novel treatments which include long acting injectable (LAI) antipsychotics.
Schizophrenia is a long term, persistent brain disorder which causes severe, debilitating psychotic episodes in patients. The World Health Organization (WHO) estimates about 24 million people are affected by the disease around the world. Schizophrenia is characterized by its core symptoms of auditory or visual hallucinations accompanied by fixed, false delusions. The two features are often observed to be in combination with learning and cognitive deficits in patients.
Though arrival of atypical antipsychotics has expanded pharmacologic treatment options over the past two decades, current treatments for schizophrenia do not address negative and cognitive symptoms associated with the disease. Negative symptoms are disruptions to normal behavior and emotions which can be mistaken for other conditions such as depression. GlobalData anticipates the rising popularity of LAI antipsychotics together with upcoming new treatments that target higher efficacy in negative- and cognitive-predominant patients will cause growth in the market over the forecast period of 2012 to 2022.
Key findings from the study show that country-specific mental health policy continues to exert a heavy influence on prescription patterns and sales of antipsychotics. GlobalData described the impact of therapies targeting negative and cognitive symptoms on the market as “challenging” due to current lack of biomarkers and lab measurements needed to accurately demonstrate patients’ response to the said treatments.
In addition, the study shows endorsements of new and existing LAIs, especially atypical LAI antipsychotics, will dramatically influence market growth. Major players in the schizophrenia drug market will leverage their R&D, manufacturing, and distribution networks to defend their stakes in the market.
The list of companies in the report include Otsuka, Lundbeck, Bristol-Myers Squibb, Merck, Novartis, Eli Lilly, Johnson & Johnson, AstraZeneca, Pfizer, and Roche, among others.