Pune, India, Jan. 07, 2022 (GLOBE NEWSWIRE) -- The global central nervous system treatment market size is anticipated to reach USD 166.53 billion by 2028 and exhibit a CAGR 0f 9.4% during the forecast period. The increasing geriatric population and the associated neurological disorders are likely to fuel the market growth in the coming years. Fortune Business InsightsTM has presented this information in its report titled “Central Nervous System Treatment Market, 2021-2028”.
The market size stood at USD 81.67 billion in 2020 and is estimated to reach USD 89.02 billion in 2021.
The prospective product launches to treat neurological disorders are expected to boost the market growth during the forecast period. The new product launches are likely to augment treatment access in developing nations, favoring the market growth.
- January 2021: Glenmark Pharma’s central nervous system stimulant drug, Amphetamine Sulfate tablets, was approved by the U.S. FDA. The tablets are a generic variant of the Evekeo tablets by Arbor Pharmaceuticals LLC.
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Drivers & Restraints-
Rising Prevalence of Neurological Disorders to Propel Market Growth
The increasing prevalence of neurological disorders, including Parkinson’s Alzheimer’s, multiple sclerosis, and others, coupled with the expanding geriatric population, is anticipated to boost the global central nervous system treatment market growth. The Alzheimer’s Association estimates approximately 14 million cases by 2050. This is anticipated to boost the market growth significantly.
The launch of new prospective products and pipeline drugs is expected to create lucrative growth opportunities for the market. The new product launches are likely to augment the access to treatment in developing nations, thereby fueling the market growth.
Also, the increasing trend of partnerships, mergers, and acquisitions by key players is projected to bolster the market’s growth during the forecast period.
However, a strict regulatory framework and time-consuming approval process may hinder market growth.
The rapid spread of the COVID-19 pandemic has stagnated the growth of the central nervous system market globally. The disruptions in the global supply chain networks have affected the market’s growth. A sales drop approximated worth USD 1.4 billion was observed in 2020. However, the market is likely to recover and exhibit stellar growth in 2021 due to the rapid vaccination drives carried out by countries across the world.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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On the basis of disease type, the market is fragmented into infectious diseases, mental health, neurodegenerative diseases, neurovascular diseases, and others. On the basis of drug class, the market is segmented into immunomodulatory drugs, interferons, analgesics, antidepressants, dopamine agonists, decarboxylase inhibitors, and others. On the basis of drug type, the market is bifurcated into non-biologics and biologics. On the basis of distribution channels, the market is trifurcated into online pharmacies, retail pharmacies, and hospital pharmacies. Geographically, the market is classified into Asia Pacific, Latin America, North America, Europe, and the Middle East & Africa.
North America to Gain Ample Growth due to the Strong Presence of Major Market Players
North America is projected to gain the largest global central nervous system treatment market share. The higher access to this treatment and the strong presence of major market players is anticipated to boost the region's market growth. Additionally, government agencies, including the U.S. FDA, to manage central nervous system treatment regulatory guidelines are expected to complement the market’s growth.
Europe is likely to attain the second-largest market share due to appreciative reimbursement policies and wide access to treatment via public healthcare providers in the U.K., such as the National Health Service (NHS).
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Asia Pacific is anticipated to witness stellar growth due to the rising geriatric population, growing prevalence of neurological disorders, and improving healthcare infrastructure. The Middle East & Africa, and Latin America are likely to exhibit sluggish growth due to weaker product penetration and the lack of product approvals.
Key Players Devise Ingenious Strategies to Capture Growth
The market is fairly consolidated and comprises key players emphasizing strategic distribution agreements and a robust pipeline to retain strong market positions. The market comprises Pfizer Inc., Johnson and Johnson Services Inc., Otsuka Holdings, Novartis AG, and others amongst the top market players. The key players focus on new product launches, partnerships, acquisitions, mergers, and others to improve their market positions. For instance, Biogen announced a deal in January 2020 to acquire a phase 1 stage modulator of circadian rhythm, i.e., PF-05251749. The product is being developed to treat neurological symptoms related to disorders including Alzheimer’s and Parkinson’s disease.
List of Key Players in Central Nervous System Treatment Market:
- Biogen (Massachusetts, U.S.)
- Pfizer Inc. (New York, U.S.)
- Hoffman-La Roche Ltd. (Switzerland)
- Novartis AG (Basel, Switzerland)
- Johnson & Johnson Services, Inc. (New Jersey, U.S.)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Sanofi (Paris, France)
- Otsuka Holdings (Japan)
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Major Table of Contents:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments- Mergers, Acquisitions and Partnerships
- New Product Launches
- Pipeline Analysis
- Overview of Regulatory Scenario
- Impact of COVID-19 on the Market
- Global Central Nervous System Treatment Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulatory Drugs
- Decarboxylase Inhibitors
- Dopamine Agonists
- Market Analysis, Insights and Forecast – By Disease Type
- Neurovascular Diseases
- Hemorrhagic Stroke
- Ischemic Stroke
- Neurodegenerative Diseases
- Alzheimer’s Disease
- Parkinson’s Disease
- Multiple Sclerosis
- Mental Health
- Mood Disorders
- Anxiety Disorders
- Infectious Diseases
- Neurovascular Diseases
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Market Analysis, Insights and Forecast – By Drug Type
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