GlobalData Releases: Schizophrenia - Global Drug Forecast and Market Analysis to 2022
A new report released by GlobalData projects a modest increase in the global schizophrenia treatment market value
A new report released by GlobalData, PharmaPoint: Schizophrenia – Global Drug Forecast and Market Analysis to 2022, projects a modest increase in the global schizophrenia treatment market value. Value is expected to climb from $6.3 billion in 2012 to $7.9 billion by 2022, with a Compound Annual Growth Rate of 2.4%.
Out of the seven major markets (US, France, Germany, Italy, Spain, the UK, and Japan), the dominant player in the schizophrenia space in 2012 was the US, with sales of $5.2 billion and a global share of 83%, the report shows. The US is expected to maintain its position by 2022, with sales reaching $6.1 billion (a representation of 1.6% Compound Annual Growth Rate).
The report suggests that the rising awareness of mental health is partially responsible for the market expansion, along with increased utilization of long-acting injectable antipsychotics.
While four new drugs are due to enter into the market during the forecast period (Otsuka’s brexpiprazole, Roche/Chugai’s bitopertin, EnVivo’s EVP-6124, Alkermes’ aripiprazole lauroxil and Johnson & Johnson’s (J&J) Invega Sustenna (Three-Month)), Kyle Nicholson, PharmD, GlobalData's Analyst covering Neurology, says: “These latter two drugs will introduce new LAI treatments and expand the global market options by 33%. The three-month version of J&J’s Invega Sustenna in particular will provide patients with a reduced dosing burden."
Nicholson also notes, “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.”
However, high costs resulting in a push towards generics, and the sheer level of unmet need in schzophrenia and other mental health disorders, present significant barriers to the market.
*PharmaPoint: Schizophrenia – Global Drug Forecast and Market Analysis to 2022
Read the full release here.
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