Central Nervous System Therapeutic Industry Overview
The global central nervous system therapeutic market size is expected to reach USD 205.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2021 to 2028. High unmet medical needs and government initiatives to reduce the disease burden are driving the market for central nervous system (CNS) therapeutic over the forecast period. According to WHO, the global economy loses due to depression and anxiety is more than USD 1 trillion per year and rising patient base of mental health globally is expected to increase the economy loses by USD 16 trillion in 2030.
The market holds strong future growth opportunities and major players are adopting different marketing strategies such as new product development, collaborations, geographic expansion, mergers and acquisitions, and new product approval, to strengthen their positions. In February 2020, Biogen announced the investment in Sangamo’s zinc finger platform to develop therapies for Alzheimer’s disease and other neurological diseases. Similarly, the company has an agreement with Ionis Pharmaceutical for the development of drug candidates applicable across a wide range of neurological 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.
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:
Based on the Disease Insights, the market is segmented into Neurovascular Diseases, CNS Trauma, Mental Health, Neurodegenerative Diseases, Infectious Diseases, CNS Cancer, and Others.
- The neurodegenerative disease segment dominated the market for central nervous system therapeutic and accounted for the largest revenue share of 39.4% in 2020. The segment is expected to continue its dominance over the forecast period.
- Mental health was estimated to be the second-largest segment in the central nervous system therapeutic market. High patient base of anxiety disorder and epilepsy are the major growth contributors.
- CNS cancer is expected to be the fastest-growing segment over the forecast period and is projected to exhibit a CAGR of 10.1%. Its high growth rate can be attributed to increasing prevalence and mortality and growing demand for treatment.
Central Nervous System Therapeutic Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Large pharmaceutical companies are highly investing in the development of novel therapies to treat central nervous system diseases. In February 2020, Biogen announced USD 2.72 billion deal with Sangamo Therapeutics to develop gene regulation therapies to treat Alzheimer’s disease.
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.
Order a free sample PDF of the Central Nervous System Therapeutic Market Intelligence Study, published by Grand View Research.
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