The Global CNS Treatment and Therapy Market size is predicted to be worth US$ 123.2 billion by the end of 2023, and to grow at a CAGR of 5.2% to be worth US$ 205.3 billion by the end of 2033. According to a recent analysis by Future Market Insights, degenerative illnesses will dominate the global market in 2023, accounting for around 31.7% of the total.
The central nervous system, sometimes known as the CNS, is the coordinating or controlling mechanism of the animal body, including humans. The most common cause of neurodegenerative diseases is degeneration of nerve tissues or abnormalities in the brain and spinal cord.
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Increased research activities in the field of mental health and psychiatric diseases have boosted the need for treatment and therapeutic options in the CNS treatment and therapy industry.
Over the forecast period, potential product introductions for treating neurological illnesses are expected to drive CNS treatment and therapy market expansion. The availability of treatment in developing nations is likely to grow as a result of these planned launches.
The nervous system treatment market growth is restricted by a time-consuming approval process and a strict regulatory framework. The cost of therapeutic research and development is higher than in other therapeutic illness areas. Owing to the medications targeting the central nervous system must cross blood-brain barriers, they must go through a lengthy development and approval process.
Patient recruiting is likewise a hurdle for the business, as is the overall pharmaceutical industry’s cost per approval. Furthermore, adverse events associated with the usage of these pharmaceuticals are expected to stymie the global CNS therapeutics market‘s expansion.
Within the pharmaceutical sector, R&D is a complex process and a critical decision. It entails a thorough investigation of the safety and efficacy of new pharmaceuticals, as well as compliance with regulatory requirements before they are released onto the nervous system treatment market.
R&D spending may not necessarily result in increased profits, making it a hazardous investment.
As a result, drug prices are raised to recoup the costs. The high-risk R&D investment for CNS therapeutics medication development may deter pharmaceutical corporations from investing in CNS therapies.
Additionally, unfavourable reactions to certain CNS medications, such as antiepileptic treatments, may stifle overall market growth.
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Key Takeaways
- In 2023, the United States is expected to have a total market share of around 31.7%.
- Germany is expected to represent roughly 6.7% of the global CNS treatment and therapy market in 2023.
- China accounts for around 5.6% of worldwide revenue.
- The USA, China, Australia, Germany, and Japan account for most demand within the market, currently holding around 54.8% market share.
Competitive Landscape
Owing to multiple businesses focusing on central nervous system therapies, the industry is fragmented. Companies have been able to maintain a solid position in the CNS treatment and therapy market because of a robust pipeline and strategic distribution arrangements.
Key Players:
- AbbVie Inc,
- Alkermes Plc,
- Allergan Plc,
- AstraZeneca Plc,
- BIAL Group,
- Bristol-myers Squibb,
- Eisai Co, Ltd.,
- Endo Pharmaceuticals,
- Eli Lilly and Co,
- F. Hoffmann-La Roche Ltd
Recent Development:
- After receiving permission from the National Medical Products Administration (NMPA) in 2021 for its popular medicine dimethyl fumarate under the brand name TECFIDERA, Bingen expanded its operations in China.
- The medication brexpiprazole is being developed to treat patients suffering from Alzheimer’s disease. Otsuka Pharmaceutical Co. Ltd. and Lundbeck Pharmaceutical Company continued their phase III clinical trials in April 2021, following the successful conclusion of phase two trials.
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More insights available:
North America dominates the market owing to the high prevalence of neurological disorders, increasing healthcare expenditure, and advanced healthcare infrastructure. The United States is the largest market in the region due to the presence of major pharmaceutical companies and a large patient pool.
Key Market Segments Covered in CNS Treatment and Therapy Industry Research
Drug:
- Biologics
- Non Biologics
Drug Class:
- Antidepressant
- Analgesics
- Immunomodulators
- Interferons
- Decarboxylase Inhibitors
- Others
Disease:
- Neurovascular Disease
- Degenerative Disease
- Infectious Disease
- Mental Health
- Others
Distribution Channel:
- Hospital Based Pharmacies
- Retail Pharmacies
- Online Pharmacies
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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