Demand for effective therapeutics for treatment of CNS disorders is a driving factor for the growth of Global Central Nervous System Therapeutics Market in the forecast period.
The global central nervous system therapeutics market is segmented by drug class, application, route of administration, end user, distribution channel, and regional distribution. Based on end User the market is further fragmented into hospital, clinics, diagnostic laboratories, and others. The hospital sub-segment is dominating as well as leading the overall market in the forecast period. Central nervous system disorder involves diseases like Alzheimer’s, Parkinson’s, Epilepsy, Meningitis, etc. These disorders require advanced treatments that require complete observance by medical specialists in hospitals, thereby justifying the dominance of the segment in market.
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The application sub-segment is further segregated into neurodegenerative diseases, mental health and trauma, neurovascular disease, infectious diseases, CNS cancer and others. The mental health and trauma are expected to lead the market during the forecast period. The high prevalence of neurodegenerative diseases such as Alzheimer’s, Parkinson’s, Spinal Muscular Atrophy and Huntington’s disease, etc. are the major driving factor for the growth of neurodegenerative diseases segment. Whereas, increasing incidence of depression among youngsters, eating disorders, anxiety disorders, accidents, drugs, and alcohol abuse etc. will directly influence the market in a positive manner in the forecast period. The key growth factors for mental health and trauma subsegment are a large patient population with anxiety disorder and epilepsy. Furthermore, the presence of promising pipeline medications for the management of psychotic disorders is expected to propel the Central Nervous System Therapeutics System forward at a healthy rate throughout the forecast period.
The drug class segment is further segregated into multiple sclerosis, antipsychotic, antiepileptics, analgesics & anesthetics, anti-parkinson and others. The multiple sclerosis is dominating the market accounting for the hight market share of 33.15% in 2020 and is expected to dominate in the forecast period too. Multiple sclerosis is one of the neurodegenerative disorders. According to the Multiple Sclerosis Trust, approximately 2.5 million people were diagnosed with multiple sclerosis in 2017. Women are more affected by MS than males. The condition is most common in adults between the ages of 20 and 40.
On the basis of distribution channel, the market is fragmented into hospital pharmacy, online pharmacy, and retail pharmacy. The online pharmacy is going to lead the market in the forecast period with a significant CAGR of 8.22% due to the convenience and availability of pharmaceutical drugs by e-commerce platforms.
Some of the major competitors in the market are Biogen Inc., Johnson & Johnson, F. Hoffmann-La Roche AG, Novartis AG, Sanofi AG, Eli Lilly and Company Ltd., Pfizer Inc., Merck & Co. Inc., AstraZeneca PLC, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline PLC, Bayer AG, Otsuka Holdings Co. Ltd., Amgen Inc., Bristol Myers Squibb Pharmaceuticals Ltd. among others. The companies are focusing on extensive research and development activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“North American region is the most promising landscape for the future investments. Increasing number of depression and anxiety cases aid the market growth in the region. Since the effective medication and treatment is now feasible and available, the market will grow exponentially and invite governmental support too. Whereas APAC is the leading market in the forecast period due to elevating geriatric population, growing public awareness of mental health issues, as well as government and non-profit activities, are driving market expansion. The incidence of neurodegenerative diseases and other neuroscience disorders will likely elevate the Global Central Nervous System Therapeutics market to a significant level.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Central Nervous System Therapeutics Market By Drug Class (Multiple Sclerosis, Antipsychotic, Antiepileptics, Analgesics & Anesthetics, Anti-Parkinson, Others), By Application (Neurodegenerative Diseases, Mental Health and Trauma, Neurovascular Diseases, Infectious Diseases, CNS Cancer, Others), By Route of Administration (Oral, Parenteral, Others), By End User (Hospital, Clinics, Diagnostic Laboratories, Others), By Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Central nervous system therapeutics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Central nervous system therapeutics market.
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