The global market for CNS Therapeutics is projected to reach US$145 billion by 2024
Rising Incidence of
Psychiatric and Neurodegenerative Disorders Drive the Global CNS Therapeutics
Market, According to a New Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of industry segments, trends,
growth drivers, market share, size, and demand forecasts on the global CNS Therapeutics market. The global market for CNS
Therapeutics is projected to reach US$145 billion by 2024, driven by increasing
incidence of CNS disorders, rising acceptance
of new therapies and new classes of drugs, aging population and a
parallel rise in Parkinson’s and Alzheimer’s disease.
The global CNS therapeutics market is on a growth trajectory, and the
various factors driving market growth include increasing incidence of CNS
diseases, rapidly growing aging population, and rising healthcare expenditure.
Unmet healthcare needs for detecting and treating CNS conditions brings to fore
the untapped potential in the market. Companies are therefore investing to
develop novel drugs in the neurodegenerative segment. The industry has crossed
some milestones in recent years with regard to developing therapies with
relatively lesser side effects, convenient drug administration, and efficient
performance. Greater patient compliance as a result of increased awareness
about the benefits of the drugs, such as improved quality of life and reduction/prevention
of disease co-morbidity, will also help spur patient adherence to prescribed
treatment regimes. Acceptance of new therapies and new classes of drugs will
additionally benefit the market.
CNS drugs, specifically for neurodegenerative diseases,
are set to become the next big healthcare movement over the coming decades,
with Alzheimer's and Parkinson's diseases as the two most important therapeutic categories. Introduction
of new class of Alzheimer’s drugs, including anti-amyloid proteins, anti-tau
proteins, cholinergic and nicotine receptor agonists, Neuro protective drugs,
and GABA receptor modulators, will also help support growth in this space. The market is also
witnessing the launch of novel therapies for the treatment of Parkinson’s
disease, such as adenosine and andrenergic agonists, glutamate receptor
modulators, and dopamine receptor agonists. Other disease conditions propelling
increases in CNS prescriptions, although to a lesser extent, include pain
manifestations, psychiatric disorders (schizophrenia, sleep disorders,
depression and anxiety), cerebrovascular disorders, stroke, seizures, cognitive
and memory disorders, and ailments caused due to injuries and physical trauma.
As
stated by the new market research report on CNS Therapeutics, the U.S.
represents the largest market worldwide, closely followed by Europe.
The U.S. market is driven by well-established
healthcare infrastructure, increased patient population, and the widespread use
of drugs. Significant research and development activities, and the presence of
several major pharmaceutical companies in the regions also support market
growth. Asia-Pacific represents the fastest growing market with a value
CAGR of 3.6% over the analysis period. While
factors such as increasing population and rising prevalence of CNS disorders,
especially among the 65+ age group, would act as general growth drivers, other
factors such as increased focus of governments on improving their healthcare
systems would aid market growth in the ensuing years.
Key players in the market include AbbVie Inc., Alkermes Plc., Allergan
Plc., AstraZeneca Plc., BIAL Group, Bristol-Myers Squibb, Eisai Co., Ltd., Endo
Pharmaceuticals Inc., Eli Lilly and Co., F. Hoffmann-La Roche Ltd.,
GlaxoSmithKline, H. Lundbeck A/S, Janssen Pharmaceuticals Inc., Merck &
Co., Inc., Neurocrine Biosciences, Inc., Novartis AG, Otsuka Pharmaceutical Co.
Ltd., Pfizer Inc., Purdue Pharma L.P., Sanofi, Shire Plc, Sumitomo Dainippon
Pharma Co., Ltd. Takeda Pharmaceutical Co., Ltd., Teva Pharmaceutical
Industries Ltd., and UCB Group, among others.
The research report titled “CNS Therapeutics: A Global
Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review
of market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities of major companies worldwide. The report provides market
estimates and projections in terms of value for all major geographic markets,
such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK,
Spain, Russia, and Rest of Europe), Asia-Pacific, Latin America, and Rest of
World. Key market segments analyzed include Anti-Alzheimer's Disease drugs,
Anti-Parkinson's Disease Drugs, Anti-Epilepsy Drugs, Pain Management drugs
(includes Migraine, Nociceptive and neuropathic pain), Anti-Psychotics,
Anti-Depressants, and Others (include Multiple Sclerosis, Insomnia and ADHD).
For enquiries e-mail us at rsd@strategyr.com
or info411@strategyr.com
Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA,
All Rights Reserved.
Comments
Post a Comment