Olanzapine is an antipsychotic drug used for short-term treatment of minor maniac cases of bipolar disorder or Schizophrenia.
Olanzapine is an antipsychotic drug used for short-term treatment of minor maniac cases of bipolar disorder or Schizophrenia. The chemical structure of olanzapine is quite similar to that of clozapine but it remains classified as a thienobenzodiazepine, and is approved by the US Food and Drug Administration. The increasing cases of mental abnormalities and disorders are a prime factor boosting the growth of the global olanzapine market. This is projected to remain the same during the forecast period set between 2021 and 2031.
The rising number of new product approvals for chronic diseases is projected to serve as another important growth driver augmenting the sales growth for olanzapine market. The increasing awareness about these diseases and the importance of early diagnosis will increase the future market demand for olanzapine. Additionally, the rise in disposable incomes of people and their willingness to spend more on healthcare and medical facilities will also help this market attract significant revenues in the coming years.
The report provides a comprehensive overview of the market and its growth trajectories such as drivers, restraints, challenges, and future opportunities. It also throws light on innovations that made positive contribution to the market in terms of revenue generation. The impact of the novel COVID19 pandemic is also discussed in the olanzapine market survey. Moreover, the list of players functioning in this market is also provided in the olanzapine market survey, together with the current competitive nature. For more information on this market, log on to the company website.
Olanzapine Market – Competitive Landscape
The nature of the global olanzapine market is consolidated on account of the presence of a handful of competitors. Leading players in the olanzapine market are emphasizing on adoption of growth strategies, such as innovations in the current technologies, joint ventures, mergers and acquisitions, and more to gain an upper hand in the market competition. Some other players are investing in research and development to ensure the market witness significant growth opportunities in the near future.
Some of the key players of the global Olanzapine market include:
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Dr. Reddy’s Laboratories
- Sun Pharmaceutical Industries Ltd.
- Jubilant Pharmova Limited
- Zhejiang Langhua Pharmaceutical Co. Ltd.
- Jiangsu Hansoh Pharmaceutical Group Co. Ltd.
- Apotex Inc.
- Eli Lily and Company
- Torrent Pharmaceuticals
- Aurobindo Pharma
- Sandoz International GmbH
- WATSON Pharmaceuticals (Changzhou Huasheng Pharmaceutical Co. Ltd.)
- Other players
Olanzapine Market – Innovation
- Cadent Therapeutics and Novartis entered into a joint venture in December 2020 for using neuro-focused biotech to treating resistant depression asset MIJ821, which is currentlt in phase 2 of clinical study.
- The US FDA declared their approval of LYBALVI by Alkermes in June 2021for treating adults with bipolar disorder and schizophrenia.
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Olanzapine Market – Growth Drivers
The increasing cases of neurological disorders and the growing need for treating acute mania in bipolar disorders will aid in expansion of the global olanzapine market. In addition to this, the increasing rate of people suffering from mental diseases will also add boost to the overall growth of this market during the forecast period. On the contrary, factors such as medicinal side effects such as dysarthria, agitation, and the serious regulatory requirements may pose a challenge to the overall growth of this market in the future.
Olanzapine Market – Geographical Insights
Regionwise, the players of the global Olanzapine market is widespread into the regions of North America, Latin America, Europe, the Middle East and Africa. Each of these regions are further categorized on the basis of nations. Among these, the market was dominated by North America on account of the high cases of neurological disorders, coupled with the presence of well-established medical infrastructure and facilities will help this region continue dominating the market in the near future.
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