Global $200+ Bn Central Nervous System Therapeutic Markets to 2028 - Introduction of a Novel Drug Delivery Systems / Presence of Strong Pipeline Drugs - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global Central Nervous System Therapeutic Market Size, Share & Trends Analysis Report by Disease (Neurovascular Diseases, CNS Trauma, Mental Health, Neurodegenerative Diseases, Infectious Diseases), by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global central nervous system therapeutic market size is expected to reach USD 205.0 billion by 2028 and is expected to expand at a CAGR of 7.4%
High unmet medical needs and government initiatives to reduce the disease burden are driving the market for central nervous system (CNS) therapeutic over the forecast period. According to WHO, the global economy loses due to depression and anxiety is more than USD 1 trillion per year and rising patient base of mental health globally is expected to increase the economy loses by USD 16 trillion in 2030.
The market holds strong future growth opportunities and major players are adopting different marketing strategies such as new product development, collaborations, geographic expansion, mergers and acquisitions, and new product approval, to strengthen their positions.
In February 2020, Biogen announced the investment in Sangamo's zinc finger platform to develop therapies for Alzheimer's disease and other neurological diseases. Similarly, the company has an agreement with Ionis Pharmaceutical for the development of drug candidates applicable across a wide range of neurological diseases.
Presence of strong pipeline products by major pharmaceutical companies such as Biogen, H. Lundbeck A/S, Eli Lilly and Company, and others are expected to accelerate market growth over the forecast period. Besides, other pharmaceutical companies are also actively involved in the development of novel therapies and investing heavily to develop effective therapeutics for the treatment of CNS associated diseases.
Most of the late phase development drugs are for the treatment of neurodegenerative disorders such as Alzheimer's disease, multiple sclerosis, Parkinson's disease, and amyotrophic lateral sclerosis. The drug candidates such as aducanumab, brexpiprozole, evobrutinib, solanezumab are some of the potential drugs that could be commercialized in the next five to eight years for the treatment of various indication of neurodegenerative disorders. Apart from neurodegenerative diseases, migraine, schizophrenia, and epilepsy are the major CNS disease indications that have potential drug candidates in pipeline.
The cancer segment is expected to witness the fastest growth rate over the forecast period. Increasing prevalence, high mortality rate, and rising demand for effective treatment are expected to fuel the growth of the market for CNS therapeutic. According to National Cancer Institute estimates, the number of new cases of CNS cancers was 23,890 whereas the number of deaths was 18,020 in the U.S. in 2020.
Pharmaceutical companies are adopting strategies such as product development, merger and acquisition, and collaboration to strengthen their position in market. For instance, Biogen has signed agreements with Ionis Pharmaceuticals, Atalanta Therapeutics, and Sangamo Therapeutics to develop novel therapeutics for the treatment of different disease indications of the central nervous system.
Similarly, in January 2020, the CNS Pharmaceuticals has entered into a licensing agreement with MD Anderson Cancer Center to investigate WP1244, a designed DNA-binding agent to cross the blood-brain barriers for the potential treatment of brain cancers.
Central Nervous System Therapeutic Market Report Highlights
- The neurodegenerative diseases segment accounted for the largest revenue share of nearly 40.0% in 2020 and is anticipated to maintain its dominance over the forecast period
- Pipeline candidates such as aducanumab, brexpiprozole, evobrutinib, solanezumab are anticipated to drive the neurodegenerative disorder segment from 2021 to 2028
- The CNS cancer segment is expected to witness the fastest growth rate over the forecast period. Increasing demand for effective treatment is expected to drive the segment
- In Asia Pacific, the market is estimated to witness the fastest growth over the coming years owing to the increase in treatment rate and betterment of healthcare infrastructure in the region
- North America held a majority of share in 2020 due to high awareness level in the region and better reimbursement scenario
Market Driver Analysis
- Increasing Prevalence of CNS Disorders
- Presence of Strong Pipeline Drugs
- Introduction of a Novel Drug Delivery Systems in CNS
Market Restraint Analysis
- High Treatment Cost
- Lack of Neurologists and Neurosurgeons
- Otsuka Pharmaceutical Co., Ltd.
- Eli Lilly and Company
- Merck & Co.
- Astra Zeneca
- Shire PLC
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Johnson & Johnson Services, Inc.
- Pfizer, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5q61ny
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900