The European schizophrenia drug market is projected to grow at a significant CAGR of around 2.5% during the forecast period (2020-2026). The availability of considerable resources for mental health and a sophisticated healthcare system are other key factors that are expected to promote the growth of the market. In the UK, Mental Health First Aid (MHFA) England, a social organization that offers expert guidance and training to support mental health, estimated in 2019 that nearly one in four people face mental health issues each year and are responsible for 72 million working days lost and costs $45.5 billion each year. Therefore, a significant market is estimated in Europe for schizophrenia drugs.
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Further, according to the WHO, almost 83 million people are affected annually by mental disorders among the adult population of Europe (aged 18-65), where female rates are higher than males. This involves the high demand for products which can bring down the level of schizophrenia among people. According to the Institute for Health Metrics and Evaluation (IHME), the EU spent an average of $22 per capita on mental health programs and services in 2016. Nearly all the countries in the European region had a stand-alone or integrated mental health policy or plan. This can be considered as another factor for the substantial growth of the market in the region.
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European Schizophrenia Drugs Market – Segmentation
By Therapeutic Class
- Second Generation Antipsychotics
- Third Generation Antipsychotics
- Others (First Generation Antipsychotics)
By Treatment
- Oral
- Injectables
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