The schizophrenia market is projected to increase from $6.4bn in 2015 to $7.3bn by 2025 at a compound annual growth rate of 1.4%, according to a report by GlobalData.
Titled 'PharmaPoint: Schizophrenia – Global Drug Forecast and Market Analysis to 2025', the report covers the seven major markets of the US, France, Germany, Italy, Spain, the UK, and Japan.
Growth in the schizophrenia market is expected to be driven mainly by late-stage pipeline products designed to address unmet needs and development of long-acting injectable (LAI) formulations.
The treatment of negative symptoms characterised as absence of normal emotional responses such as apathy or asociality is a major unmet need in the schizophrenia market.
Negative symptoms have a far great impact on the quality of life of a patient and a new drug that addresses these symptoms is, therefore, needed. No drug is available in the market currently to treat these symptoms.
Two late-stage pipeline products under development to treat the negative symptoms include Minerva’s MIN-101 and Intra-Cellular Therapies’ ITI-007. If proven effective, these products are expected to drive growth in the schizophrenia market.
GlobalData analyst Christos Michaelides opines that drugs targeting negative symptoms present significant opportunities for pharmaceutical companies by 2025.
Considerable R&D risk, however, is involved in the development of the drugs as many fail in clinical trials due to lack of efficacy.