Cognitive impairment associated with schizophrenia (CIA) refers to deficits in cognitive abilities such as memory, executive function, processing speed, and attention in patients suffering from schizophrenia. CIA hinders the social and occupational functioning of schizophrenia patients. The market is primarily driven by the increasing prevalence of schizophrenia disorder globally and growing therapeutic pipeline for treating CIA. Major pharmaceutical companies are engaged in developing drugs that target cognitive dysfunctions in schizophrenia to improve patient's quality of life.
The Global Cognitive Impairment Associated With Schizophrenia (CIAS) Market is estimated to be valued at USD 5.2 Bn in 2024 and is expected to reach USD 7.1 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.
Key Takeaways
Key players operating in the CIA market are copyright, Johnson & Johnson, Bristol-Myers Squibb, Otsuka Pharmaceutical, and Sumitomo Dainippon Pharma.
The growing schizophrenia patient base globally is fueling the demand for CIA therapies. It is estimated that over 21 million people suffer from schizophrenia worldwide. Many schizophrenia patients experience significant CIA that hinders their daily functioning.
The Cognitive Impairment Associated With Schizophrenia (CIAS) Market technological advancements such as digital biomarkers and AI-powered cognitive assessments are helping researchers better understand the underlying neurological mechanisms of CIA and accelerate clinical drug development for CIA. Computerized cognitive batteries are also augmenting the evaluation of cognitive deficits in schizophrenia patients.
Market Trends
Research into disease-modifying therapies: Pharmaceutical companies are investing in research focused on developing disease-modifying therapies that can potentially modify the underlying disease pathology and slow down cognitive decline in schizophrenia over the long-term. repurposing of approved drugs: Researchers are also exploring the potential of repurposing approved drugs for other psychiatric or neurological conditions for treating CIA. Drugs targeting pathways involving glutamate neurotransmission and neuroinflammation show promise.
Market Opportunities
Emerging digital technologies: Integration of digital technologies like virtual reality, serious games, and digital biomarkers present an opportunity to develop novel digital endpoints for evaluating cognitive functions. This can facilitate remote and decentralized clinical trials for CIA therapies.
Combination therapies: Combining cognition-enhancing drugs with psychosocial therapies may yield optimal outcomes for managing CIA. Combining pharmacological agents targeting multiple pathologies of schizophrenia also holds potential.
Impact of COVID-19 on Cognitive Impairment Associated With Schizophrenia (CIAS) Market Growth
The COVID-19 pandemic has significantly impacted the Cognitive Impairment Associated With Schizophrenia (CIAS) market. During the initial phases of the pandemic, when lockdowns were imposed globally, major challenges were faced by patients, caretakers as well as product manufacturers. Access to hospitals and clinics was restricted which made it difficult for patients to get timely diagnosis and treatment. Psychiatric rehabilitation programs that help manage symptoms were suspended owing to social distancing norms. This led to worsening of symptoms for many patients.
However, with relaxations in lockdowns and initiation of digital healthcare facilities, the situation has relatively improved now. Teleconsultations and teletherapy have helped ensure continuity of care. Online support groups have also helped curb feelings of loneliness and isolation in patients. While in-person meetings are still limited, virtual interaction tools have proven effective. Pharmaceutical companies have ramped up production to meet the growing demand and ensure uninterrupted supply of medications. Several new diagnostic and therapeutic innovations are also in pipeline to address the complex needs of CIAS patients and help curb the socio-economic burden.
Geographical Regions with High Value Concentration of CIAS Market
North America dominates the global CIAS market, both in terms of value and volume. This is attributed to factors such as high prevalence of schizophrenia, strong healthcare infrastructure, availability of advanced treatment options and favorable reimbursement policies. Within the region, United States holds the major market share. However, the Asia Pacific region is projected to witness the fastest growth during the forecast period due to increasing awareness, growing healthcare expenditure and expansion activities by key players. Countries like China, India and Japan are expected to drive significant growth owing to their huge population base and improving economic conditions.
Fastest Growing Region for CIAS Market
The Asia Pacific region is poised to emerge as the fastest growing region for the global CIAS market during 2020-2025. Rising incidence of schizophrenia attributable to genetic and environmental factors is a major driver. Additionally, growing geriatric population prone to age-associated cognitive decline augments the demand. Countries in Asia are witnessing rapid economic development which is boosting healthcare infrastructure and treatments access. Governments are also increasingly focusing on mental health via favorable initiatives and programs. Increased collaborations between local and international companies have further expanded the reach of advanced solutions. The region also offers lucrative market opportunities with lower operation costs attracting new market entrants. All these factors are contributing to the accelerated growth of CIAS market in Asia Pacific.
Get More Insights On- Cognitive Impairment Associated With Schizophrenia (CIAS) Market
Get This Report in Japanese Language: 統合失調症に伴う認知障害（CIAS）市場
Get This Report in Korean Language: 정신분열증과 관련된 인지 장애(CIAS) 시장
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