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Asia-Pacific Schizophrenia Drugs Market Research Report – Segmented By Therapeutic Class, Treatment & Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC) – Industry Size, Share, Trends & Growth Forecast (2023 to 2028)

Published: March, 2023
ID: 8019
Pages: 145
Formats: report pdf report excel report power bi report ppt

Asia Pacific Schizophrenia Drugs Market Size (2023 to 2028)

The size of the Asia Pacific Schizophrenia Drugs Market was worth USD 1.46 billion in 2023. This value is estimated to be growing at a CAGR of 2.78%, to reach USD 1.68 billion by 2028. 

The key factors driving the APAC schizophrenia drugs market are government support systems, focus by public and private healthcare companies, availability of associated drugs, and growing awareness about mental health diseases. The increasing burden of this disease will negatively affect a person's overall productivity; hence, schools and companies are making efforts to raise awareness and provide adequate treatment to the patients. According to the World Health Organization report, schizophrenia affects over 20 million people worldwide. Reports also suggest that older people are more susceptible to late-onset schizophrenia. According to the World Aging report, there were approximately 705 million people aged 65 and over in the world in 2019. The number of older people is anticipated to double to 1.55 billion by 2050. The world population aged 65 and over increased from 6.85% in 1990 to 9.23% in 2019. These factors mentioned above are anticipated to boost the market by providing growth opportunities for key market players to grow in the future.

Countries of the APAC region have a high prevalence of mental health disorders due to social issues and lifestyle choices. According to the WHO, more than 309.6 million people suffer from depression, and more than 800,550 people commit suicide each year. In 2020, South Korea's suicide rate reached 25.79 deaths per 100,000 population. According to the last reports, the annual prevalence of depression in South Korea was 5.94%, which is a high number.

However, the increase in drug addiction cases associated with antipsychotic drugs, lack of reimbursement coverage for pricey mediation, inadequate treatment, social stigma, and negligence related to mental health disorders are predicted to be restraining the growth of the APAC schizophrenia drugs market during the forecast period.

This research report on the APAC schizophrenia drugs market has been segmented and sub-segmented into the following categories.

By Therapeutic Class:

  • Second generation anti-psychotics
    • Risperdal
    • Invega
    • Zyprexa
    • Geodon
    • Seroquel
    • Latuda
    • Aristada
    • Fanapt
    • Saphris
    • Vraylar
  • Third generation anti-psychotics  
  • Others    

By Treatment:

  • Oral anti-psychotics       
  • Injectable anti-psychotics 

By Country:

  • India
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Thailand
  • Malaysia
  • Vietnam
  • Philippines
  • Indonesia
  • Singapore
  • Rest of APAC

The Chinese regional market is projected to dominate the studied market during the forecast period. This market growth can be attributed to hectic lifestyles, social healthcare reforms prioritizing mental health diseases, advanced health care, and a large population driving the market in this region during the forecast period. Based on the reports collected from the China Mental Health Survey, it was found that the lifetime prevalence of any psychiatric disorder was over 16%, and the 12-month prevalence was recorded at 9.55% in the population. Furthermore, the estimated prevalence of schizophrenia in the early 1990s was recorded at 3.92 per 1,000 population, resulting in an estimated prevalence of 4.45 million cases. This prevalence is less than half of that estimated for developed countries with 8.98 / 1000. Moreover, technological advancements in the development of new drugs increased clinical trials for various drugs combined for better results, and fewer side effects aim to boost this market.

The Regional markets in Japan, India, Australia, and Taiwan are expected to have good CAGR growth in the years to come. The main factors driving the market are increasing healthcare expenditure, well-established healthcare infrastructure, growing emphasis on R&D, government initiatives, awareness programs, and early diagnosis kits. The annual prevalence of schizophrenia estimated in India was reported to be at 3.37/1000.

KEY MARKET PLAYERS:

Some of the major companies dominating the market by their products and services include Johnson & Johnson, Sumitomo Dainippon, Eli Lilly, Bristol-Myers Squibb/ Otsuka Pharma, AstraZeneca, Alkermes, Vanda Pharma, Allergan, and Pfizer.

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