Schizophrenia Market is expected to grow at CAGR of 3.2 % during forecast period 2019-2023 | Size, Share, Trends and Demand
Market Research Future has come up with a report on the Schizophrenia Market, which provides a holistic synopsis of the market size, market valuation, revenue estimate, SWOT analysis, and the geographical insights
Pune, India – September 27, 2019 /MarketersMedia/ —
Industry/ Innovations/ Related News:
July 29, 2019 — Pfizer Inc. (the US), a multinational pharmaceutical corporation, announced that its Upjohn business would merge with Mylan NV (Netherlands), a global generic and specialty pharmaceuticals company. Pfizer Upjohn combines the agility of a start-up with the resources and capabilities of a Fortune 100 enterprise, providing solutions for the rise of non-communicable diseases with the increasing focus on quality, and affordability.
Merck recently had its first investor day, and its Phase 3 pipeline has the shortest timeline to producing revenues in areas such as bacterial pneumonia, heart failure, mesothelioma, and types of cancer. Merck’s Phase 2 pipeline includes cancers as well as diabetes, HIV, schizophrenia, and more. As per the terms of the agreement, that is structured as an all-stock transaction, each share of Mylan would be converted into one share of the new company. Whereas Pfizer shareholders would account for 57% of the combined new company, and Mylan shareholders would own 43%.
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Schizophrenia Market Overview:
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.
According to Market Research Future (MRFR), a leading research firm, the global Schizophrenia market forecasted to demonstrate a spectacular growth by 2023, vibrating with substantial growth opportunities. In its recently published research report, MRFR also asserts that the market would register a CAGR over 3.2 % throughout the assessment period (2017-2023).
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.
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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 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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