Global Olanzapine Market – Industry Trends and Forecast to 2029

Global Olanzapine Market, By Therapy Type (Monotherapy, Combinational Therapy), Indication (SchizophreniaBipolar Disorder, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029.

Olanzapine Market Analysis and Size

The global olanzapine market is expected to witness significant growth during the forecast period. The factors that boosted the growth of olanzapine market are the increase in the cases of depression across the world and more adult population as this population are at high risk of depression that would influence the demand of olanzapine. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the global olanzapine market in the forecast period 2022-2029. The expected CAGR of global pericarditis drugs market is tend to be around 3% in the mentioned forecast period. The market was valued at USD 195 million in 2021, and it would grow upto USD 247.02 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Olanzapine, the type of therapeutics that commercialize under the brand name of Zyprexa, is atypical antipsychotics widely used in treating schizophrenia and acute mania in bipolar disorder. Olanzapine widely acts on neurotransmitter receptors and blocks the action of dopamine, histamine and serotonin receptors. 

Olanzapine Market Scope and Segmentation

Global Olanzapine Market Dynamics

Drivers

• Increased Incidence of Bipolar Disorders

The incidence of bipolar treatment is an important driver of the Olanzapine market. There is no direct medication available for the Olanzapine disorder. Factors such as loss of interest in life, disturbing thoughts, abnormal emotions are some of the symptoms of Olanzapine. These disorders are similar to olanzapine. The more availability of bipolar treatment is boosting more demand for the Olanzapine market. Thus, it boosts the market growth.

• Increased Awareness

The increasing research associated with the market surges the expansion rate during the forecast period. The high adoption of clinical drugs for this diseased condition will bring favourable changes. In addition to this, the Olanzapine has both surgical and non-surgical treatments. However, the enhancements in non-surgical olanzapine treatment are high in the forecast period.

Opportunities

• Increased Investments

The increased efforts to raise investment in new drugs for Olanzapine drugs are rising in numerous regions. This initiative tend to create more development opportunities for the olanzapine market. The launch of several advanced therapeutic drugs by major market players will boost the growth rate. The primary cause for this market development is extensive research in the olanzapine market. Further, R&D investments for the market are growing in this period.

• Increasing Demand for Retail Pharmacies

The increase in the number of olanzapine drugs delivered through retail pharmacies and the rise in the number of retail pharmacies in highly economic countries create opportunities for the market growth. In addition to this, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.

 Restraints/Challenges

• Lack of Awareness

The lack of awareness among patients and  doctors about the Olanzapine is a major restraint. The underdeveloped and developing countries are unaware of rare conditions such as Olanzapine. Many mix this condition with depression, anxiety and bipolar disorders. However, no proper treatment for the disorder deteriorates the emotional status and conditions of the patient. Much more research and awareness about these rare diseases are required in many counties.

• High Cost

The huge expenditure associated with these agents surely hamper the market growth.

• Lack of Proper Medication

Lack of appropriate medications and treatment is expected to increase this medical condition's effects. According to the market analysis, less awareness can lead to a small adoption rate of Olanzapine drugs. Thus, these factors can restrict the total demand for the olanzapine market during the forecast period.

This global olanzapine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global olanzapine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Olanzapine Market            

Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business. Its long-term repercussions are expected to influence industry growth during the forecast period. Transition of healthcare infrastructure toward managing COVID-19 has led to drug launch cancellations and delays in clinical trials.

Currently, there are about 115 vaccine samples and 155 molecules in the R&D pipeline. Additionally, most commonly used drugs such as Hydroxychloroquine have witnessed a dramatic increase in the demand for the management of COVID-19. Such high demand for these drugs has showcased huge opportunities for the manufacturers of COVID-19 management drugs, as numerous developed countries are having shortage of these drugs. Thus, the pharmaceutical industry is expected to witness a huge growth because of the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the global olanzapine market.

Global Olanzapine Market Scope

The global olanzapine market is segmented on the basis of therapy type, indication, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Therapy Type

• Monotherapy
• Combinational Therapy

Indication

• Schizophrenia
• Bipolar Disorder
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Olanzapine Market Regional Analysis/Insights

The global olanzapine market is analysed and market size insights and trends are provided by therapy type, indication, distribution channel and end-user as referenced above.

The major countries covered in the global olanzapine market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific has been witnessing the highest growth for the global olanzapine market throughout the forecasted period due to more CNS diseases and rapidly disposable income.

North America dominates the market due to the increase prevalence of depression and advanced healthcare facilities.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Olanzapine Market Share Analysis

The global olanzapine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global olanzapine market.

Key players operating in the global olanzapine market include:

• Pfizer Inc (U.S.)
• AstraZeneca (U.K.)
• Bristol-Myers Squibb Company (U.S.)
• Dr. Reddy's Laboratories Ltd (India)
• Endo International plc (Ireland)
• Teva Pharmaceutical Industries Ltd (Israel)
• Sun Pharmaceutical Industries Ltd (India)
• Mylan N.V. (U.S.)
• Novartis AG (Switzerland)
• Lupin (India)
• Cipla Inc (India)
• Aurobindo Pharma (India)
• Zydus Group (India)