Olanzapine is used for treating specific mood/mental conditions especially bipolar disorder and schizophrenia. Besides it can be used with other medications for treating depression. Olanzapine can also help in decreasing hallucinations thereby helping one in thinking more positively and clearly about themselves along with feeling less agitated and being more active in life. This medication is generic and is available in different trade names. Olanzapine has a couple of minor and major side effects such as loss of libido, cough, running nose, dry mouth, chest pain, uncontrolled muscle movements, dizziness, increase in cholesterol and body fat, sleepiness, headache, weight gain and orthostatic hypotension.
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The global Olanzapine market is likely to grow at an exponential growth rate during the forecast period 2017-2023 and the driving factors here include rising prevalence of different neurological disorders such as bipolar disorder, schizophrenia, increasing number of people with emotional instability and mental illness have further increased the demand of this medication as a key measure to treat such diseases. Data released by the National Institute of Health and Care Excellence revealed that olanzapine is also suggested as the first line therapy for treating acute mania in case of bipolar disorder. Along with these influencing factors there are some factors which impact the growth of the Olanzapine market negatively like the medication’s side effects and different regulatory needs for marketing this medication that may take a toll on the growth of this market. The Olanzapine market is forecasted to touch a striking CAGR during the forecast period 2017-2023.
With the presence of both key and small players, the global Olanzapine Market appears to be extremely competitive and fragmented. In fact, with a flourishing market in North America and some of the major companies having their home it is generating maximum share in the market. These companies expanded their operating unit in many more emerging regions too. Moreover, some medium and small-scale players are generating good revenue from the local market. The popular American pharmaceutical, Eli Lilly is a top manufacturer for the Olanzapine market. There is a growing demand for generic Zyprexa in the US, the schizophrenia, bipolar treatment from Eli Lilly which has been amid the highest sellers before turning off patent in the last few years.
Teva Pharmaceutical, Apotex Inc, Mylan Pharmaceuticals, Dr Reddy’s Laboratories, Lilly, Sun Pharmaceuticals, Torrent Pharmaceuticals, Jubilant Lifesciencest, Aurobindo Pharma, Hansoh Pharmaceutical, Zhejiang Langhua Pharmaceuticals, Sandoz, Hanson Pharmaceutical, and WATSON Pharmaceuticals.
· In MRFR’s report the global Olanzapine market is segmented on the basis of types and application.
· Based on type, the Olanzapine market is segmented into ZYPREXA ZYDIS, ZYPREXA tablets and ZYPREXA Intra Muscular (available for injections).
· Based on applications, this market is segmented into bipolar disorder, schizophrenia and others.
The global Olanzapine market is segmented into different regions – Americas, Europe, Asia Pacific and the Middle East and Africa. The Americas leads the global Olanzapine market, having a market share of more than 40%. What led to such an impressive market growth here include leading manufacturers creating the medication in the region and extensive use of this medication by people in the region. Moreover, different types of neurological disorders mostly schizophrenia and bipolar disorder constantly on the rise amid individuals have also led to the growth of the Olanzapine market in the North America Region.
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Moreover, the market in Europe is growing gradually and also catching up with the market in America in the near future. This medication was first launched in Europe on account of a good number of people being diagnosed with neurological disorders and mental illness.
The Olanzapine market in Asia Pacific is anticipated to grow at the fastest rate during the forecast period. China and India in particular are likely to be the fastest growing market. The Middle East and Africa has the least share and the factors attributed here include poor medical facilities, lack of awareness and less market access.
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