The global Cognitive Impairment Associated With Schizophrenia (CIAS) market offers promising growth opportunities stoked by advancements in pharmacological interventions. Cognitive deficits constitute a major source of functional disability in patients suffering from schizophrenia. The CIAS therapeutics market has witnessed significant research into improving cognitive capabilities of patients.
CIAS negatively impacts executive functions, working memory, verbal learning, and processing speed. Several antipsychotic drugs approved for schizophrenia have shown little efficacy in treating associated cognitive deficits. However, newer formulations aim to simultaneously target symptoms and cognitive dysfunction.
The Global Cognitive Impairment Associated With Schizophrenia (CIAS) Market is estimated to be valued at US$ 5.2 Bn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the CIAS market are Boehringer Ingelheim International GmbH, Neurocrine Biosciences, Recognify Life Sciences, Atai Life Sciences, and Kynexis.
Neurocrine Biosciences is a leading player in the market with its pipeline candidate NBI-1065844 exhibiting promising results for improving cognitive function in Phase II clinical trials.
The growing demand for effective therapies can be attributed to increasing awareness about cognitive dysfunction and its impact on quality of life. Schizophrenia substantially decreases work productivity and economic participation.
Globally, the market is witnessing expansion into emerging countries of Asia Pacific and Latin America owing to rising disease prevalence and improving access to healthcare services.
Market key trends
One of the major trends driving growth in the CIAS market is the development of novel therapeutic targets beyond dopaminergic and glutamatergic neurotransmission pathways. Companies are exploring multitarget agents inhibiting sigma-1 receptor, alpha7-nicotinic acetylcholine receptor, and mGluR5 receptor among others. Neurocrine's NBI-1065844 is a novel N-methyl-D-aspartate receptor modulator and sigma-1 receptor agonist.
Advancements in disease biomarkers and diagnostic criteria are also expected to speed up drug discovery and approval process. Identification of objective measures for cognitive deficits will aid accurate assessment of therapeutic efficacy in clinical trials. This, along with greater understanding of schizophrenia pathophysiology, will promote research into safer and more effective CIAS drugs.
Porter's Analysis
Threat of new entrants: New companies entering the market face high costs of drug development, clinical trials and regulations.
Bargaining power of buyers: The bargaining power of buyers is high as patients have options to switch between available treatments.
Bargaining power of suppliers: Pharmaceutical manufacturers hold strong patents and exclusive rights on drugs, giving them bargaining power over buyers.
Threat of new substitutes: Alternative treatments used are limited for cognitive impairment associated with schizophrenia but research is ongoing to develop new pharmacological substitutes.
Competitive rivalry: Competition is intense between large pharmaceutical companies to develop and commercialize new therapies that demonstrate high efficacy and tolerability.
Geographical regions of concentration
Currently, North America accounts for the largest share of the global market value due to high per capita healthcare expenditure and strong reimbursement framework. High awareness and large patient pool are key factors contributing to market concentration in the region.
Fastest growing geographical region
Asia Pacific region is poised to exhibit fastest growth over the forecast period owing to rising incomes, emerging modern healthcare infrastructure and increasing focus of players expanding operations in developing nations through partnerships and licensing agreements. Growing awareness is augmenting demand for cognitive impairment associated with schizophrenia treatments in Asia Pacific.
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
