The US schizophrenia drugs market is projected to grow at a significant CAGR of 2.7% during the forecast period (2020-2026). The rising awareness programs for mental health is acting as one prominent factor in the market growth in the US. The first Wednesday in November each year is celebrated as National Stress Awareness Day in the US. Various programs are conducted on this day to create awareness related to the treatment available for the management of schizophrenia. The increasing awareness in the country related to the treatment of schizophrenia is further supporting the growth of the market for schizophrenia drugs. Even though the anxiety disorder is highly treatable, only around one-third of people that suffer from this disorder receive treatment. Moreover, as per the report of the WHO, anxiety disorder is the most prevalent mental disorder in the country with social phobia and specific phobia as its most common form.
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Further, Stanford University launched an initiative in 2018. The initiative’s goal is to establish and maintain a forum to tackle global mental health as a priority. This program would combine activities focused on global mental health in healthcare, science, sports, and education which is expected to immensely assist the growth of schizophrenia drugs market. In addition, the new program would draw together the current activities of the faculty and provide opportunities for new collaborations and initiatives. A core component of the project is the use of IT resources to extend mental health programs across the globe, taking advantage of Silicon Valley’s expertise.
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US 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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