Global Central Nervous System Therapeutics Market: Industry Analysis and Forecast (2020-2026)

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Global Central Nervous System Therapeutics Market is expected to reach $XX Mn by 2026 from $XX Mn in 2019, at a CAGR of 6.1% during forecast period.

Global Central Nervous System Therapeutics Market: Industry Analysis and Forecast (2020-2026)

Global Central Nervous System Therapeutics Market is expected to reach $XX Mn by 2026 from $XX Mn in 2019, at a CAGR of 6.1% during forecast period.

Global Central Nervous System Therapeutics Market Overview:

The central nervous system (CNS) is the body's command center, controlling cognition, movement, sensation, and emotion. The central nervous system is made up of a collection of neurological disorders that affect the structure or function of the brain and spinal cord (CNS).

Global Central Nervous System Therapeutics Market Dynamics:

Rising prevalence of neurological diseases is expected to drive the market growth.

Alzheimer disease is responsible for around 1.2 million adult-onset brain problems, according to the World Health Organization (WHO). In addition, nearly 60,000 people in the United States have been diagnosed with Parkinson's disease. During the forecast period, the rising frequency of neurological illnesses is likely to promote the adoption of improved central nervous system treatment options. All of the major pharmaceutical firms have invested in and developed innovative medicines for the treatment of CNS illnesses due to the huge unmet medical demand. Furthermore, an increase in generics is predicted to drive CNS medication penetration into low- and middle-income countries, making them more inexpensive. Increasing awareness efforts may also result in medications being more readily available.

Furthermore, the global central nervous system therapy market is likely to benefit from the availability of modern healthcare facilities in the future years. For example, the FDA approved two new generic versions of Copaxone in 2018, which is projected to strengthen competitive competition in the central nervous system therapeutic market. Regulatory guidelines and crucial clinical trials are promoting the introduction of new central nervous system therapeutics to the market. The efficacy, dose, formulation, and side effects of these medications are all closely evaluated. The market is expected to grow throughout the projected period due to the fast-growing elderly population, which is leading to an increase in the number of neurological disease cases.

The report has profiled fifteen key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation the size of the same. Increasing R&D activities in each region are different and focus is given on the regional impact on the cost, availability of advanced technology are analyzed and report has come up with recommendations for future hot spot in APAC region.

Global Central Nervous System Therapeutics Market Segment Analysis:

The Global Central Nervous System Therapeutics Market is segmented on the basis of Disease Type, Drug Class and End-Users.

Based on Disease Type, the Neurodegenerative diseases segment is expected to dominate the global market during forecast years. According to the WHO, dementia affects 50 million people worldwide, with approximately 60% of them residing in low- and middle-income countries. It predicts that by 2030, the number will have risen to 82 million. According to the Parkinson's Foundation, 2.8 million people worldwide have multiple sclerosis and 10 million have Parkinson's disease. Over the projection period, the degenerative disease segment will account for a significant portion of the market. Nerve cells in the brain and peripheral nervous systems lose their function and perish, resulting in this disease. The rising prevalence of Alzheimer's disease, Parkinson's disease, and multiple sclerosis is responsible for the majority of it. Furthermore, the segment is projected to be driven by strong pipeline candidates for the treatment of neurological illness. For example, there are more than 130 medication candidates in development for the treatment of Alzheimer's disease around the world.

Global Central Nervous System Therapeutics Market

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Global Central Nervous System Therapeutics Market Regional Insights:

Global Central Nervous System Therapeutics Market 1

North America held the dominant market share in 2020.

Over the forecast period, North America is likely to dominate the CNS therapies market. According to GBD 2019, neurological illnesses were the third leading cause of death in Canada and the fourth leading cause of death in the United States in 2019. According to the Alzheimer's Disease Facts and Figures Report, 5.8 million Americans had dementia in 2019, with 5.6 million of them being 65 or older. The existence of prominent companies in the region, as well as important firms' increasing initiatives to discover novel medicines for various central nervous system illnesses, are projected to boost total market share. Furthermore, the growing prevalence of mental health and neurodegenerative disorders such as multiple sclerosis, Alzheimer's disease, Parkinson's disease, and epilepsy is driving demand for central nervous system therapies in North America. Pharmaceutical companies' awareness campaigns on CNS disease diagnosis and treatment, as well as better payment regulations for CNS illness treatment, have increased the region's treatment rate. The US Congress has allocated approximately USD 10 million to multiple sclerosis research, with the possibility of an additional USD 20 million. The National Neurological Conditions Surveillance System (NNCSS) was established by the CDC to track the disorder. Canada's first national dementia strategy was published in 2019.

The report also helps in understanding Global Central Nervous System Therapeutics Market dynamics, structure by analyzing the market segments and project the Global Central Nervous System Therapeutics Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Central Nervous System Therapeutics Market make the report investor’s guide.

Global Central Nervous System Therapeutics Market, Key Developments:

• Innovent Biologics, Inc., a major biopharmaceutical business, reported in December 2020 that the National Medical Products Administration (NMPA) of China had approved BYVASDA, a recombinant humanised anti-VEGF monoclonal antibody medication. The central nervous system treatment solution, according to the business, is an effective therapeutic medicine that can be used to treat glioblastoma patients.

Global Central Nervous System Therapeutics Market Scope: Inquire before buying

Global Central Nervous System Therapeutics Market 2

Global Central Nervous System Therapeutics Market, By Region:

• North America

• Europe

• South America

• MEA

• APAC

Global Central Nervous System Therapeutics Market, Key players:

• Biogen

• Otsuka Pharmaceutical Co., Ltd.

• Eli Lilly and Company