Market Synopsis of Global Olanzapine market

The global olanzapine market is set to surge at a remarkable CAGR over the forecast period (2017-2027), observes Market Research Future (MRFR). Olanzapine was first introduced in the Europe region in 1996 due to high amount of population suffering from neurological disorders. The boom in population worldwide has given way to neurological disorders, thus the demand for olanzapine inevitably increases. Diseases like schizophrenia are on the rise globally, forcing companies to produce more drugs to meet this demand of the consumer. Augmenting work anxiety and mental health issues can aid in the market growth due to increasing demand from affected patients. Olanzapine is endorsed in various countries, with tablets running from 2.5 to 20 milligrams. Zyprexa is accessible as an orally-breaking down “wafer” which quickly disintegrates in spit.

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However, adverse effects such as agitation can impede the global market growth. But on the other hand, the olanzapine market is bound to rush ahead in the coming years worldwide due to the prevalence of mental disorders among a large population in many countries and also mental health awareness. Moreover, recent developments include formulations to deliver drugs via the parenteral route, and agitation issues in patients with schizophrenia and bipolar mania can bolster market demand in the coming years.

Market Segmentation

The global olanzapine market is segmented by type and application.
Types of olanzapine are Zyprexa tablets, Zyprexa Zydis and Zyprexa IntraMuscular. Major applications for which olanzapine is used are schizophrenia, bipolar disorder, and others.

Regional Analysis
Geographically, the global olanzapine market is spread across Asia Pacific, Europe, North America, and Middle East and Africa.
The market for olanzapine has been growing tremendously in the Asia Pacific region followed by Europe. In the Asia-Pacific region, China is the largest market for the olanzapine drug and can exhibit a CAGR of more than 27% during the forecast period.
Established drug companies investing in research activities, and government and health charities funding neuroscience fields fuel the olanzapine market in Europe.
In North America, prevalence of mental health disorders, rising substance abuse, and growing concern for affected population are factors fueling the demand for olanzapine in this region. Also, drug companies are adopting business strategies such as mergers and acquisition and investments in research and development to maintain their competitive edge in the olanzapine market.  Similarly, in the Africa region, prevalence of mental disorders, rising diseases, and various researches conducted to overcome mental disorders have paved the way for the olanzapine market in this region.

Competitive Analysis
Some of the key players in the global olanzapine market are Watson Pharmaceuticals, Hanson Pharmaceutical, Dr. Reddy’s Laboratories, Mylan Pharmaceuticals, Apotex Inc., and Teva Pharmaceutical and others.
There is a huge presence of several well-established and small players in the global olanzapine market. These companies have established facilities in various emerging regions, to expand their customer base in other regions as well.
A study has been funded in part by Eli Lilly, makers of Zyprexa (olanzapine), which states that Oral clozapine and olanzapine long-acting injection (LAI) are the most effective treatments for preventing hospitalization among patients with chronic and first-episode schizophrenia. A total of 62,250 people were included in the prevalent cohort and 8,719 in the incident (first-episode schizophrenia) cohort. Overall, LAI use was associated with lower risk of psychiatric re-hospitalization. The final study asserts that LAIs should be used more widely especially among first-episode patients.
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