Central Nervous System Therapeutics Market to grow at a CAGR of 7.4% During the Forecast Period
Demand for effective therapeutics for
treatment of CNS disorders is a driving factor for the growth of
Global Central Nervous System Therapeutics Market in the forecast period.
According to TechSci Research report, “Global Central
Nervous System Therapeutics Market By Drug Class (Multiple Sclerosis,
Antipsychotic, Antiepileptics, Analgesics & Anesthetics, Anti-Parkinson,
Others), By Application (Neurodegenerative Diseases, Mental Health and Trauma,
Neurovascular Diseases, Infectious Diseases, CNS Cancer, Others), By Route of
Administration (Oral, Parenteral, Others), By End User (Hospital, Clinics,
Diagnostic Laboratories, Others), By Distribution Channel (Hospital Pharmacy,
Online Pharmacy, Retail Pharmacy), By Region, Competition Forecast &
Opportunities, 2026”, the global central nervous system therapeutics
market is expected to reach USD125532.90 million in 2026 with a CAGR of 7.4%. The
market’s competitive landscape has gotten involved in enhanced research and
development of medications for central nervous system illnesses. Furthermore,
the increasing focus of governments of several countries towards raising
knowledge about the availability of efficient treatment plans for CNS
illnesses, is expected to further help the market to flourish in the forecast
period.
The global central nervous system
therapeutics market is segmented by drug class, application, route of
administration, end user, distribution channel, and regional distribution.
Based on end User the market is further fragmented into hospital, clinics,
diagnostic laboratories, and others. The hospital sub-segment is dominating as
well as leading the overall market in the forecast period. Central nervous
system disorder involves diseases like Alzheimer’s, Parkinson’s, Epilepsy,
Meningitis, etc. These disorders require advanced treatments that require
complete observance by medical specialists in hospitals, thereby justifying the
dominance of the segment in market.
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The application sub-segment is further
segregated into neurodegenerative diseases, mental health and trauma,
neurovascular disease, infectious diseases, CNS cancer and others. The mental
health and trauma are expected to lead the market during the forecast period. The
high prevalence of neurodegenerative diseases such as Alzheimer’s, Parkinson’s,
Spinal Muscular Atrophy and Huntington’s disease, etc. are the major driving
factor for the growth of neurodegenerative diseases segment. Whereas,
increasing incidence of depression among youngsters, eating disorders, anxiety
disorders, accidents, drugs, and alcohol abuse etc. will directly influence the
market in a positive manner in the forecast period. The key growth factors for mental
health and trauma subsegment are a large patient population with anxiety
disorder and epilepsy. Furthermore, the presence of promising pipeline
medications for the management of psychotic disorders is expected to propel the
Central Nervous System Therapeutics System forward at a healthy
rate throughout the forecast period.
The drug class segment is further segregated
into multiple sclerosis, antipsychotic, antiepileptics, analgesics &
anesthetics, anti-parkinson and others. The multiple sclerosis is dominating
the market accounting for the hight market share of 33.15% in 2020 and is
expected to dominate in the forecast period too. Multiple sclerosis is one of
the neurodegenerative disorders. According to the Multiple Sclerosis Trust,
approximately 2.5 million people were diagnosed with multiple sclerosis in
2017. Women are more affected by MS than males. The condition is most common in
adults between the ages of 20 and 40.
On the basis of distribution channel, the
market is fragmented into hospital pharmacy, online pharmacy, and retail
pharmacy. The online pharmacy is going to lead the market in the forecast
period with a significant CAGR of 8.22%
due to the convenience and availability of pharmaceutical drugs by
e-commerce platforms.
Some of the major competitors in the market are Biogen
Inc., Johnson & Johnson, F. Hoffmann-La Roche AG, Novartis AG, Sanofi AG,
Eli Lilly and Company Ltd., Pfizer Inc., Merck & Co. Inc., AstraZeneca PLC,
Teva Pharmaceutical Industries Ltd., GlaxoSmithKline PLC, Bayer AG, Otsuka
Holdings Co. Ltd., Amgen Inc., Bristol Myers Squibb Pharmaceuticals Ltd. among
others. The companies are focusing on extensive research and development
activities to stay competitive in the market. Other competitive strategies
include formation of alliances and partnerships.
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“North
American region is the most promising landscape for the future investments.
Increasing number of depression and anxiety cases aid the market growth in the
region. Since the effective medication and treatment is now feasible and
available, the market will grow exponentially and invite governmental support
too. Whereas APAC is the leading market in the forecast period due to elevating
geriatric population, growing public
awareness of mental health issues, as well as government and non-profit
activities, are driving market expansion. The incidence of neurodegenerative
diseases and other neuroscience disorders will likely elevate the Global
Central Nervous System Therapeutics market to a significant level.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based Global
management consulting firm.
“Global
Central Nervous System Therapeutics Market By Drug Class (Multiple Sclerosis,
Antipsychotic, Antiepileptics, Analgesics & Anesthetics, Anti-Parkinson,
Others), By Application (Neurodegenerative Diseases, Mental Health and Trauma,
Neurovascular Diseases, Infectious Diseases, CNS Cancer, Others), By Route of
Administration (Oral, Parenteral, Others), By End User (Hospital, Clinics,
Diagnostic Laboratories, Others), By Distribution Channel (Hospital Pharmacy,
Online Pharmacy, Retail Pharmacy), By Region, Competition Forecast &
Opportunities, 2026”, has evaluated the
future growth potential of Global Central nervous system therapeutics market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Central nervous system therapeutics
market.
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