Central Nervous System Therapeutic Market Size, Share & Trends Analysis Report 2021-2028
Central Nervous System Therapeutic Industry Overview
The global central nervous system therapeutic market size was valued at 116.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2021 to 2028. Advancements in diagnostics and therapeutics of central nervous system (CNS) diseases are expected to increase the treatment rate globally. Moreover, the increasing prevalence of central nervous system disorders and the rising demand for effective therapeutics options are expected to boost market growth over the forecast years. According to a report published by the WHO, central nervous system disorders such as Alzheimer’s disease, multiple sclerosis, epilepsy, Parkinson’s disease, and stroke affect more than 1 billion people worldwide. The high unmet medical need has led all the major pharmaceutical companies to invest and develop novel therapies for the treatment of CNS diseases.
Rising approval of generic products owing to patent expiration of key products, such as Copaxone and Invega, has led to an increase in treatment rate, especially in low- and middle-income countries. For instance, in 2018, the FDA approved two new generic forms of Copaxone, which is further expected to increase competitive rivalry in the market for central nervous system therapeutic. Regulatory guidelines and critical clinical trials are encouraging the entry of new products into the market for central nervous system therapeutic. These drugs are monitored for their efficacy, dosage, formulation, and aftereffects. For instance, the U.S. FDA has designated CNS Pharmaceuticals’ berubicin as an orphan drug for the treatment of patients with malignant gliomas.
Gather more insights about the market drivers, restrains and growth of the Global Central Nervous System Therapeutic market
The CNS therapeutics market has experienced extensive R&D efforts in the past decade, which have resulted in the introduction of novel drug-delivery systems. The advancements in the drug-delivery systems are expected to increase the adoption of a novel therapy to treat central nervous system diseases. These novel drug-delivery systems have an edge over conventional methods owing to reduced adverse effects. The demand for a novel drug-delivery system is owing to ease of delivery and availability of different dosage forms. For instance, the introduction of transdermal patches for central nervous system disorders provides an accurate amount of medicine and relief mostly for around 24 hours.
The presence of strong pipeline products is expected to propel the market for central nervous system therapeutics over the forecast period. The key pharmaceutical players are focusing on new therapies to prevent or improve the symptoms of neurological disorders. Companies such as Biogen, AbbVie Inc., F. Hoffmann-La Roche Ltd, Eli Lilly and Company, and others have their drug candidates in the last phases of the development and are expected to be commercialized in the foreseeable future. The launch of these novel drugs is anticipated to boost the market for central nervous system therapeutic. Most of the drugs in the development aim to interrupt the disease process by impacting the brain changes associated with diseases.
The increasing awareness regarding mental health and neurodegenerative diseases by government and non-government organizations is anticipated to increase the treatment rate globally. Organizations such as WHO and others conduct various awareness programs to increase awareness among people living with central nervous system disorders. Furthermore, the Spanish government has launched a national plan to tackle dementia that includes key targets for improving dementia awareness, patient-centric health and social care, and promotion of research and innovation. The focus on neurodegenerative disease research is higher in Spain.
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Central Nervous System Therapeutic Market Segmentation
Grand View Research has segmented the global central nervous system therapeutic market on the basis of disease and region:
CNS Therapeutic Disease Outlook (Revenue, USD Million, 2017 - 2028)
- Neurovascular Diseases
- CNS Trauma
- Mental Health
- Anxiety Disorders
- Epilepsy
- Mood Disorders
- Psychotic Disorders
- Others
- Neurodegenerative Diseases
- Alzheimer's Disease
- Parkinson’s Disease
- Multiple Sclerosis
- Huntington's Disease
- Amyotrophic Lateral Sclerosis
- Others
- Infectious Diseases
- CNS Cancer
- Others
CNS Therapeutic Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- February 2020: Biogen announced USD 2.72 billion deal with Sangamo Therapeutics to develop gene regulation therapies to treat Alzheimer’s disease.
Key Companies profiled:
Some prominent players in the global Central Nervous System Therapeutic market include
- Biogen
- Otsuka Pharmaceutical Co., Ltd.
- Eli Lilly and Company
- Merck & Co.
- Astra Zeneca
- Shire PLC
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Johnson & Johnson Services, Inc.
- Pfizer, Inc.
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