This is mainly driven by the expected launch of 11 late-stage R&D products.
The schizophrenia market in seven major markets (7MM) is expected to grow at a compound annual growth rate (CAGR) of 7.4%, from US$840 million in 2021 to US$17 billion in 2031, according to a new report from GlobalData .
This growth is primarily driven by the anticipated launch of 11 late-stage development products.
These pipeline therapies are expected to account for 33.4% of the market by 2031, although atypical antipsychotics will retain the largest patient share, said GlobalData neurology management analyst Christie Wong.
Although the annual cost of treatment (ACOT) is higher compared with generic antipsychotics, these new drugs are expected to be used as adjunctive treatments rather than to replace current first-line treatments.
The pipeline includes four key ancillary drugs, namely Evenamide (Newron Pharmaceuticals), Ingrezza (Neurocrine Biosciences), iclepertin (Boehringer Ingelheim) and Cobenfy (Bristol Myers Squibb), the latter of which was recently approved by the FDA in September 2024.
GlobalData also predicts that Cobenfy will become the best-selling drug in the schizophrenia market by 2031, with estimated sales of $2.2b.
However, Wong said the market may face challenges, especially as patents for long-acting injectables (LAI) such as Abilify Maintena, Aristada and Invega Sustenna are about to expire.
She added that generic competition for these products is expected to slow overall market growth, although new pipeline therapies will help offset this impact.
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