European schizophrenia drug market is estimated to grow at a CAGR of 1.5%, during the forecast period (2024-2031). The market growth is driven by the increasing number of mental health disorders. Additionally, the government policies in the region for mental health promote market growth. The European schizophrenia drug market is segmented by therapeutic class (second-generation antipsychotics, third-generation antipsychotics, and others) and by treatment (oral and injectables).
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Market Dynamics
- The oral segment is anticipated to hold the largest market share during the forecast period, owing to the increase in the prevalence of anxiety and depression.
- The injectable segment is expected to project considerable growth attributed to an increase in R&D for injectable drugs and new product launches.
- The second-generation segment dominated the market, owing to the availability of multiple products and the increasing prevalence of mental disorders.
- The third-generation segment is expected to project considerable growth attributed to the new product approvals and product launches in the segment.
The companies that are contributing to the growth of the European schizophrenia drugs market include Allergan PLC, Otsuka Pharmaceutical Co., Ltd., Eli Lilly and Co., AstraZeneca PLC, and Johnson & Johnson Services, Inc. The market players are contributing significantly to the market growth by the adoption of various strategies including new product launches, mergers and acquisitions, collaborations with the government, funding for start-ups, and technological advancements.
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Recent Developments
- In September 2024, Teva Pharmaceuticals presented data informing clinical strategies for switching patients to UZEDY®, at the 37th Annual European College of Neuropsychopharmacology (ECNP) Congress, in Italy. UZEDY® is an extended-release injectable suspension of risperidone for subcutaneous use every one or two months for the treatment of schizophrenia in adults.
- In September 2024, the US Food and Drug Administration (FDA) approved Cobenfy (xanomeline and trospium chloride) for schizophrenia in adults. The first UK trial of the compound is planned in Oxford, in 2025.
- In March 2024, Otsuka Pharmaceutical Co., Ltd announced that the European Commission (EC) has approved Abilify Maintena®720mg/960mg (aripiprazole). The drug is prescribed as a once-every-two-month Long-Acting Injectable (LAI) formulation for the maintenance treatment of schizophrenia in adult patients stabilized with aripiprazole. The drug is accepted by all European Union (EU) member states, and Iceland, Norway, and Liechtenstein.
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