According to Precedence Research, the global central nervous system therapeutics market size was estimated at US$ 120.64 billion in 2021 and is expected to reach over US$ 209.2 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.
An increase in the prevalence of central nervous system diseases is fueling the demand for the advanced therapeutics across the globe. Advancements in the therapeutics and diagnostics of the central nervous system disorders is expected to drive the growth of the global central nervous system therapeutic market. According to the World Health Organization, the central nervous system diseases such as Parkinson’s disease, Alzheimer’s disease, epilepsy, stroke, and multiple sclerosis affects around 1 billion people across the globe. The increasing prevalence of such CNS disorder has encouraged the pharmaceutical companies to invest heavily in the development of the novel therapies for curing the CNS disorders. The patent expiration has resulted in the approvals of generic products like Invega and Copaxone that has increased the treatment rates in the low and middle income economies. For example, the US FDA has approved two generic types of Copaxone in 2018. The rising investments in the new drug developments and clinical trials are facilitating the entry of new therapeutics in the global CNS therapeutic market. The government regulations and the concerned authorities like EMA and FDA are taking an active part in monitoring the results of clinical trials and approvals of the CNS therapeutics.
The development of new therapeutics for the treatment of the central nervous system disorders has led to the development of the innovative drug delivery devices. The development of these innovative drug delivery devices is expected to augment the growth of the central nervous system therapeutic market. The advanced therapeutics and drug delivery devices have low or no side effects. The availability of well-built pipeline products along with the easy availability of therapeutics is propelling the market growth. Moreover, the rising awareness among the population regarding the neurodegenerative disorders and mental health is expected to have a significant effect on the demand for the central nervous system therapeutics across the globe. The increasing efforts of the government and non-government organizations like World Health Organization that conducts awareness programs regarding the various mental disorders, are playing a crucial role in the development of the CNS therapeutic market. For instance, the Spanish government is taking efforts to spread awareness regarding the dementia and promotes research activities in the country. The growing geriatric population coupled with the rising prevalence of Alzheimer’s disease among them is fueling the growth of the CNS therapeutic market. As per the Alzheimer’s Association, over 5million people are affected with the Alzheimer’s diseases and this number is projected to reach 14 million by 2050.
Scope of the Central Nervous System Therapeutic Market
|Market Size||US$ 209.2 Billion by 2030|
|Growth Rate||CAGR of 6.3% from 2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Segments Covered||Disease Type, Region|
|Companies Mentioned||Biogen Inc., Otsuka Pharmaceutical Co. Ltd, Eli Lilly and Company, Merck & Co., AstraZeneca, Takeda Pharmaceutical Company Limited, Novartis AG, Teva Pharmaceutical Industries Ltd., Johnson & Johnson Private Limited, Pfizer Inc., GlaxoSmithKline PLC|
The neurodegenerative diseases segment accounted for a market share of around 40% and dominated the global central nervous system therapeutic market in 2020. The rising incidences of neurodegenerative diseases such as Parkinson’s disease, Alzheimer’s disease, and multiple sclerosis among the population have driven the growth of this segment. According to the Alzheimer’s Association, around 14 million people will be suffering from Alzheimer’s disease by 2050 across the globe. According to the Parkinson’s Foundation, over 10 million people across the globe are living with Parkinson’s disease. Moreover, the prevalence of Parkinson’s disease increases with the aging. The presence of the well-built pipeline therapeutics for the treatment of the Parkinson’s disease and other neurodegenerative disease has fostered the growth of the neurodegenerative segment in the past few years.
The mental health segment was the second leading segment in the global central nervous system therapeutic market. This is attributed to the rising prevalence of anxiety disorders, epilepsy, and psychotic disorders. The easy availability of drugs and increased awareness regarding mental health has augmented the growth of this segment in the global market.
The CNS cancer is estimated to be the most opportunistic segment during the forecast period. The rising prevalence of CNS cancer and growing demand for the therapeutics is boosting the growth. Around 300,000 people were diagnosed with brain cancer across the globe in 2018 around 240,000 people died in the same year due to it. The higher mortality rates has attracted a huge investments in the research and development of the therapeutics for the CNS cancer treatment, which is expected to drive the growth of this segment in the foreseeable future.
North America dominated the global central nervous system therapeutic market, garnering a market share of over 45% in 2020. The increased prevalence of neurodegenerative disorders and other CNS diseases in US has resulted in the huge demand for the CNS therapeutics. Around 70,800 people are affected with brain cancer every year in the US, which causes 2.4% of the total cancer deaths in US. Moreover, as per the Parkinson’s Foundation, about 60,000 people are diagnosed with Parkinson’s disease in US each year and around 1 million people are living with Parkinson’s disease in US. Moreover, the presence of several top players and the increased investments by them for the development of novel therapies are significantly influencing the market growth in this region. Furthermore, the increased awareness among the people regarding the mental health and the presence of strong pipeline products in North America has exponential contributions in the growth of the central nervous system therapeutic market.
On the other hand, Asia Pacific is estimated to be the most opportunistic market in the forthcoming years. The rising government investments in improvement of the healthcare infrastructure along with the presence of huge patients with unfulfilled medical needs are the major market drivers. The non-profit organizations are playing an exceptional role in providing free of cost treatments for the central nervous system diseases and spreading the awareness regarding the mental health and CNS therapeutics. These factors are expected to drive the growth of the Asia Pacific central nervous system therapeutic market during the forecast period.
Key Market Developments
The key market players are constantly engaged in various developmental strategies such as product launches, collaborations, and partnerships in order to establish their supremacy in the market and gain competitive edge over others. These developmental strategies are expected to provide new growth prospects in the forthcoming future and will foster the growth of the global central nervous system therapeutic market.
Some of the prominent players in the global central nervous system therapeutic market include:
Segments Covered in the Report
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