Published Date : 24 Jan 2023
The global central nervous system therapeutic market size accounted for USD 128.15 billion in 2022 and is expected to touch around USD 209.2 billion by 2030 with a noteworthy CAGR of 6.3% from 2022 to 2030.
The central nervous system (CNS) is an essential part of the nervous system. It consists of the brain and the spinal cord. It coordinates and controls the activities of all parts of the body. Central nervous system (CNS) therapeutics are used to treat CNS disorders such as neurodegenerative diseases, autoimmune & inflammatory diseases, genetic disorders, cancers, and others. These disorders affect the structure and function of the brain or spinal cord. Central nervous system therapeutic is gaining popularity. It's highly effective in the treatment of multiple CNS-related conditions.
CNS disorders have also increased in prevalence. The central nervous system includes a number of diverse structures. It forms the control system for general activity in the body. CNS therapeutics consists of anesthetics, anticonvulsants, CNS stimulants, muscle relaxants, narcotic analgesics, sedatives, etc. These central nervous system therapies are used to treat Parkinson's disease, depression, Alzheimer's disease, epilepsy, traumatic brain, spinal cord injury, CNS cancer, etc.
The increasing prevalence of mental illness majorly drives the global market. The rising prevalence of lifestyle-associated CNS disorders significantly contributes to market growth. The growing prevalence of anxiety, depression, hypertension, etc., positively influences market growth. The growing geriatric population, more prone to chronic diseases, catalyzes market growth. The surging prevalence of Alzheimer's disease and Parkinson's disease propel the market growth.
Generic neurologic drugs are gaining popularity across developing countries due to their affordability. The rapid innovations in CNS treatment procedures create a positive outlook for the market. The development of gene therapy and neural transplantation techniques accelerates market growth.
The introduction of novel drug-delivery systems and the escalating focus of the government and non-government organizations on creating awareness regarding central nervous system disorders favor market growth. The accessibility to multiple treatment options stimulates market growth. The favorable guidelines to support faster approvals of pipeline drugs and the entry of new products drives the market growth.
The increase in the prevalence of central nervous system diseases fuels market growth. The diagnostics of central nervous system disorders and rising investments in new drug developments favor market growth. The development of new therapeutics and innovative drug delivery devices drives market growth. The rising awareness among people regarding neurodegenerative disorders creates a positive outlook for the market. All these factors boost the central nervous system therapeutic market growth.
Central Nervous System Therapeutic Market Report Scope
|Market Size in 2022||USD 128.15 Billion|
|Market Size by 2030||USD 209.2 Billion|
|Growth Rate from 2022 to 2030||CAGR of 6.3%|
|Forecast Period||2022 to 2030|
|Segments Covered||By Disease Type|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
Based on the disease, the neurodegenerative diseases segment dominated the market and accounted for the largest revenue share due to the increasing prevalence of neurodegenerative diseases across the globe. The rising Prevalence of Parkinson's disease, Alzheimer's disease, and multiple sclerosis among the population positively influences segment growth. Parkinson's disease chances increase with aging.
The growing geriatric population and the availability of therapeutics drive the segment's growth. The presence of well-built pipeline therapeutics fuels market growth. Mental health is the second leading segment due to the increasing prevalence of anxiety disorders, epilepsy, and psychotic disorders.
The rising demand for drugs and increased awareness regarding mental health drive the segment's growth. CNS cancer is expected to witness a promising CAGR in the coming years due to the rising prevalence of CNS cancer. The increasing demand for Therapeutics and huge investments in the research and development of therapeutics drive the segment's growth.
Based on the region, North America dominated the market and accounted for the largest revenue share due to the increasing prevalence of neurodegenerative disorders and other CNS diseases. The rising prevalence of Parkinson's disease in the US and the presence of several top players positively influence the market growth. The development of novel therapies and the growing awareness among people regarding mental health creates a positive outlook for the market.
The presence of strong pipeline products drives the growth of the central nervous system therapeutic market. On the other hand, Asia Pacific is expected to witness a promising CAGR in the coming years due to rising government investments in the improvement of healthcare infrastructure.
The increasing number of patients with unfulfilled medical needs and the provision of free-of-cost treatments for central nervous system diseases by various non-profit organizations across the region drives the market growth. The increasing focus of the government on spreading awareness regarding mental health and CNS therapeutics creates a positive outlook for the market. All these factors are expected to drive the growth of the Asia Pacific central nervous system therapeutic market across the region.
Driver: Advancements in diagnostics and therapeutics of central nervous system (CNS) diseases
The rapid advancements in diagnostics and therapeutics of the central nervous system (CNS) disease significantly contribute to market growth. The rising prevalence of central nervous system diseases positively influences market growth. The rising demand for effective therapeutic options catalyzes market growth. The growing incidence of Alzheimer's disease, multiple sclerosis, epilepsy, Parkinson's disease, and stroke propel the market growth.
Pharmaceutical companies are focusing on investing in and developing novel therapies for the treatment of CNS diseases. The surging approval of generic products and the entry of new products into the market favor market growth. The extensive R&D efforts, the introduction of novel drug-delivery systems, and the advancements in the drug-delivery systems bolster the market growth. The introduction of transdermal patches and the presence of strong pipeline products fuels the market growth.
The key pharmaceutical players are focusing on treatments to prevent neurological disorders. The increasing awareness regarding mental health drives the market growth. The rising awareness regarding neurodegenerative diseases by government and non-government organizations drives the market growth.
Opportunity: Increasing prevalence of neurological disorders
The increasing prevalence of neurological disorders offers numerous opportunities for market growth. The rising diagnosis rates in developed and emerging countries significantly contribute to market growth. The governments are focusing on creating awareness regarding these conditions through campaigns. The launch of a new generation of antipsychotic drugs offers lucrative opportunities for market growth.
The innovation of central nervous system treatment drugs and strategic initiatives adopted by key companies operating in the CNS therapeutics market fuels the market growth. The increase in the prevalence and incidence of neurological disorders catalyzes market growth. The growing geriatric population and the growing product launches for treating neurological disorders propel the market growth.
Restraint: Time-consuming approval process
The process of approval of central nervous system therapeutic and the drugs used to treat central nervous system diseases is very time-consuming. This factor restricts the market growth. Furthermore, research and development require a higher amount of investment which hampers the market growth. It is a longer developmental and approval process. The higher cost per approval impedes the central nervous system therapeutic market growth.
Challenge: Stringent regulatory framework
The stringent regulations of the governments challenge the central nervous system therapeutic market growth. The therapeutic drugs used to treat the central nervous system must go through an approval process. This process is very strict, and various stringent regulations are imposed by the government, which further challenges market growth.
Major Key Players:
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