The global schizophrenia drugs market was valued at $7.16 billion in 2021, and is projected to reach $12.53 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031. Schizophrenia is a chronic, severe mental disorder that affects the way a person thinks, acts, expresses emotions, perceives reality, and relates to others. Though schizophrenia is not as common as other major mental illnesses, it can be the most chronic and disabling.
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The growth of the global Schizophrenia Drugs Market growth is majorly driven by the increase in prevalence of mental disturbances & schizophrenia and rise in awareness about mental health. In addition, surge in mental health awareness programmes by government and non-government organizations drives the growth of market. For instance, in May 2022, U.S. department of Health and Human Services (HHS) celebrated Mental Health Awareness Month, for spreading awareness about mental health. These awareness programmes promote mental health and help to provide treatment of mental health disorders.