Schizophrenia Treatment Market to Reach $17 Billion by 2031

Highlights:

• Schizophrenia treatments will grow from $8.4B in 2021 to $17B by 2031
• Combined treatments will enhance existing therapies
• Xanomeline and trospium chloride (Cobenfy) drug is set to dominate the schizophrenia market

Schizophrenia is a chronic mental disorder that affects how a person thinks, feels, and behaves. Schizophrenia treatments are expected to grow significantly at a compound annual growth rate (CAGR) of 7.4% from $8.4 billion in 2021 to $17.0 billion in 2031 (1^✔).

New Schizophrenia Drugs in the Global Market

This surge in schizophrenia treatments is estimated across the seven major markets (7MM*), the US, France, Germany, Italy, Spain, the UK, and Japan. The Seven-Market Drug Forecast and Market Analysis revealed that the late-stage pipeline products are expected to account for 33.4% of global sales in 2031.

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Schizophrenia affects about 1 in 3000 people worldwide. #schizophrenia #braindisorder #mentalhealth #medindia’

Atypical antipsychotics are the standard medications used to treat schizophrenia. Despite the atypical drugs, the new drugs for schizophrenia will have big market sales. The pipeline products are all expected to have a significantly higher annual cost of therapy (ACOT) when compared with the cheap generic atypical antipsychotics that are predominantly used.

Combining New and Standard Schizophrenia Medications

Due to higher ACOT, the new medications cannot replace the current medications as the first treatment choice. However, it can be combined with standard antipsychotic drugs to increase the treatment efficiency and introduced in earlier lines of therapy.

The pipeline consists of four adjunctive agents: Newron Pharmaceuticals' evenamide, Neurocrine Biosciences' Ingrezza (valbenazine tosylate), and Boehringer Ingelheim's iclepertin. Bristol Myers Squibb's Cobenfy (xanomeline and trospium chloride) is also being developed as an adjunctive therapy in patients who have an inadequate response to atypical antipsychotic monotherapy in the ARISE trial.

If the new drugs get approved by the FDA to be used along with the standard medications, patients will not need to switch from their current therapies. Rather it could help in establishing the drugs within the highly competitive and genericized schizophrenia market.

Cobenfy and the Future of Schizophrenia Treatments

GlobalData expects Cobenfy to become the top-selling drug in the schizophrenia market with sales of $2.2 billion across the 7MM in 2031. This FDA approved drug in September 2024 as the first treatment for schizophrenia that does not modulate dopaminergic or serotonergic transmission in seven decades.

The new drugs may face some challenges like loss of exclusivity of multiple anti-psychotic long-acting injectables (LAIs). LAI medications are not widely used due to their high cost. So many patients and doctors prefer oral medications to treat schizophrenia.

However, in 2021, LAIs had more than half of the sales for atypical antipsychotics. As the LAIs including Abilify Maintena, Aristada, and Invega Sustenna reach their patent expiry, the launches of pipeline therapies will increase the overall schizophrenia market growth.

Reference:

1. Schizophrenia in Major Markets, Disease Management, Epidemiology, Pipeline Assessment, Unmet Needs and Drug Forecast to 2031 - (https:www.globaldata.com/store/report/schizophrenia-major-market-analysis/)

Source: Medindia

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