Rise in incidence of schizophrenia, increase in government support for improvement in healthcare infrastructure and provision of facilities for patients with mental disorder, and rise in the dysfunctional behavior among the population drive the growth of the global olanzapine market. Region-wise, the market in North America is expected to dominate in terms of revenue and Asia-Pacific would grow at the fastest CAGR during the forecast period.
Portland, OR, Dec. 01, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global olanzapine market generated $1.8 billion in 2021, and is estimated to reach $2.2 billion by 2031, witnessing a CAGR of 2.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Application, Route of Administration, Distribution Channel, and Region
Rise in incidence of schizophrenia.
Increase in government support for improvement in healthcare infrastructure and provision of facilities for patients with mental disorder.
Rise in the dysfunctional behavior among the population.
High growth potential in developing economies and increase in R&D activities and product approval.
High cost and side effects of olanzapine.
The outbreak of the Covid-19 pandemic created intense pressure and stress in the healthcare sector across the globe. Many industries, which included several sub-domains of healthcare shut their operations temporarily.
The olanzapine market was affected due to decline in R&D activities and sales of olanzapine drug. Moreover, less hospitals visits by patients with schizophrenia negatively impacted the market growth. Furthermore, most of the clinical trials got postponed to avoid spread of infections, which slowed down the drug development process.
However, the availability of telemedicine (online service) to treat diseases led to a steady growth of the olanzapine market during the pandemic.
The report offers a detailed segmentation of the global olanzapine market based on application, route of administration, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on application, the schizophrenia segment held the largest share of more than half of the global olanzapine market in 2021, and would maintain its leadership in terms of revenue through 2031. However, the others segment is estimated to witness the fastest CAGR of 4.2% during the forecast period. The report also analyzes the bipolar disorder segment.
Based on route of administration, the oral segment was the largest in 2021, capturing nearly three-fourths of the global olanzapine market share, and would maintain its dominance through 2031. Nonetheless, the parenteral segment is estimated to witness the fastest CAGR of 2.7% during the forecast period.
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Based on distribution channel, the drug stores and retail pharmacies segment was the largest in 2021, grabbing nearly three-fifths of the global olanzapine market share and is estimated to dominate in terms of revenue during the forecast period. However, the online providers segment would witness the fastest CAGR of 3.6% during the forecast period.
Based on region, the market in North America was the largest in 2021, accounting for more than two-fifths of the global olanzapine market share and would maintain its dominance during the forecast period. However, the market in Asia-Pacific is likely to manifest the highest CAGR of 3.9% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.
Leading players of the global olanzapine market analyzed in the research include Alkermes, Inc., Apotex Inc., Aurobindo Pharma Ltd., Eli Lilly and Company, Dr. Reddy's Laboratories Ltd., Sun Pharmaceutical Industries Limited, Torrent Group, Teva Pharmaceutical Industries Limited, Novartis AG, and Viatris.
The report analyzes these key players of the global olanzapine market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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