Global Central Nervous System Disorders Therapeutics Market, by Disease Type (Neurodegenerative Disorders {Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, and Others}, Infectious Diseases, Psychotic Disorders, Anxiety Disorders, Trauma, Mood Disorders, and Others), by Drug Class (Analgesics, Anti-cholinergic Agents, Anticonvulsants, Sedatives and Hypnotics, Antidepressants, Antipsychotics, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 97,028.1 Mn in 2021 and is expected to exhibit a CAGR of 7.4% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Increasing product launches and regulatory approvals for central nervous system disorders therapeutics are expected to propel the growth of the global central nervous system disorders therapeutics market over the forecast period. For instance, in October 2019, Biogen, a U.S.-based biotechnology company, and Alkermes plc., an Ireland-based biopharmaceutical company, received the U.S. FDA approval for their drug Vumerity, which they developed by a collaboration agreement, which is used for treatment of multiple sclerosis.
Global Central Nervous System Disorders Therapeutics Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has affected the entire pharmaceutical industry’s supply chain. It is also going to increase the demand for central nervous system disorders therapeutics market due to the association of neurological diseases such as anxiety, depression, and others with COVID-19 infection. For instance, according to an article published by Clinical trial arena in January 2021, around 84% of patients suffering from severe COVID-19 infection are reported to experience some kind of cognitive impairment such as mental confusion. This study reveals that COVID-19 patients are at higher risk of acquiring a neurological disorder such as dementia and Alzheimer’s disease.
People suffering from acute COVID-19 infection may develop confusion, delirium, and depression of consciousness. Those who suffer from post-acute episodes of COVID-19 often have difficulty in concentrating and memory problems, sometimes referred to as ‘brain fog’. This deterioration is a common symptom in people with severe fatigue.
Moreover, several UN agencies including International Labor Organization (ILO), International Organization for Migration (IOM), The United Nations Development Programme (UNDP), United Nations Educational, Scientific and Cultural Organization (UNESCO), The United Nations Population Fund (UNFPA), The United Nations High Commissioner for Refugees (UNHCR), United Nations Children's Fund (UNICEF), United Nations Office on Drugs and Crime (UNODC), WHO (World Health Organization), and the Office of the Secretary-General's Youth Envoy are increasing their mental and psychosocial response to support people to cope with COVID-19 by including mental health and psychosocial support in their work across distinct sectors in countries to improve the overall effectiveness and impact of their COVID-19 response and recovery activities.
Browse 36 Market Data Tables and 43 Figures spread through 192 Pages and in-depth TOC on “Global Central Nervous System Disorders Therapeutics Market”- Forecast to 2028, Global Central Nervous System Disorders Therapeutics Market, by Disease Type (Neurodegenerative Disorders {Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, and Others}, Infectious Diseases, Psychotic Disorders, Anxiety Disorders, Trauma, Mood Disorders, and Others), by Drug Class (Analgesics, Anti-cholinergic Agents, Anticonvulsants, Sedatives and Hypnotics, Antidepressants, Antipsychotics, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Central Nervous System Disorders Therapeutics Market, click the link below:
Moreover, business strategies such as partnerships and collaborations to boost the research and development of therapeutics for treatment of neurodegenerative CNS disorders by key players is also expected to aid in growth of the global central nervous system disorders therapeutics market over the forecast period. For instance, in January 2021, Atalanta Therapeutics, a U.S.-based biotechnology company, entered into a collaboration with Biogen, a U.S.-based biotechnology company, and Genentech, a U.S.-based biotechnology corporation, to co-develop RNAi therapeutics for treatment of neurodegenerative CNS disorders such as Huntington’s disease, Alzheimer’s disease, and Parkinson’s disease.
Key Takeaways of the Global Central Nervous System Disorders Therapeutics Market:
- The global central nervous system disorders therapeutics market is expected to exhibit a CAGR of 7.4% during the forecast period, due to rising research and development collaboration by pharmaceutical companies, which is expected to boost growth of the market. For instance, in April 2021, Otsuka, a pharmaceutical company and Lundbeck, a Danish international pharmaceutical company, announced the continuation of recruiting patients for phase III clinical trials for brexpiprazole to treat patients with Alzheimer's dementia
- Among disease type, neurodegenerative disorders segment is estimated to account for the largest market share in global central nervous system disorders therapeutics market in 2021. For instance, according to the National Multiple Sclerosis Society data 2020, around 2.8 million people worldwide suffered from multiple sclerosis (MS) in 2020.
- Among regions, North America estimated to account for the largest market share in global central nervous system disorders therapeutics market in 2021. Increasing prevalence of central nervous system disorders in the region is expected to bolster the market growth over the forecast period. For instance, according to a data published by Alzheimer’s Association in 2017, around 5.5 million people in the U.S of all ages suffered from Alzheimer’s dementia in 2017.
- Major players operating in the global central nervous system disorders therapeutics market include Biogen Inc., Pfizer Inc., Eli Lilly and Company, Merck & Co., Inc., Novartis AG, AstraZeneca Plc., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, AbbVie Inc., Glaxosmithkline plc., Otsuka Pharmaceutical Co., Ltd., Dr. Reddy's Laboratories Ltd., Cipla Inc., Lupin Ltd, and Glenmark Pharmaceuticals
