Central Nervous System Therapeutics Market size worth $ 168.43 Billion, Globally, by 2028 at 9.05% CAGR: Verified Market Research®

An increase in the number of patients suffering CNS disorders such as neurodegenerative diseases, autoimmune and inflammatory diseases, genetic disorders, and others, is likely to be the factor to lead Central Nervous System Therapeutics Market.

JERSEY CITY, N.J., March 23, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Central Nervous System Therapeutics Market" By Disease (Neurovascular Diseases, Trauma, Mental Health), By Drug Class (Analgesics, Nervous System Drugs, Anesthetics), and By Geography. According to Verified Market Research, the Global Central Nervous System Therapeutics Market size was valued at USD 84.24 Billion in 2020 and is projected to reach USD 168.43 Billion by 2028, growing at a CAGR of 9.05% from 2021 to 2028.

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Global Central Nervous System Therapeutics Market Overview

Advancements in diagnostics, treatments, and drug discovery methodologies are driving the growth of the Central Nervous System Therapeutics Market. Furthermore, the rising demand for effective CNS therapeutic choices pushes big pharmaceutical companies to engage in research and development, paving the way for future growth. Furthermore, increased awareness of psychiatric diseases, an increase in the frequency of mental illness and lifestyle-related CNS disorders, and an increase in the elderly population all contribute to the global market's growth. Since the last several years, the rate of acute psychological distress among teenagers and young adults has been on the rise, fueling demand for CNS therapies around the world.

However, strict & extended drug approval procedures and increasing prices of new treatments are likely to restrict the growth of the Central Nervous System Therapeutics Market. According to the WHO, dementia affects 50 million people worldwide, with approximately 60% of them residing in low- and middle-income countries. As per the Parkinson's Foundation, there are 2.8 million people with multiple sclerosis and ten million people with Parkinson's disease in the world. These disorders have a limited number of therapeutic choices. Currently, five authorized medications are commonly used to treat Alzheimer's disease, and 146 clinical studies in Phases 1, 2, and 3 are enrolling participants. Agents capsules for Parkinson's disease when a patient's meds aren't functioning and Zeposia capsules for relapsing types of multiple sclerosis were recently approved by the FDA.

According to Alzheimer's Europe, the European Union's dementia population is expected to be at 7.8 million people. Furthermore, the Harvard NeuroDiscovery Center predicts that almost 12 million Americans will be affected by neurodegenerative disorders in 30 years if no action is taken. As a result of the rising prevalence of these diseases, the medication development pipeline, and the potential of this segment, clinical trials, product launches, and strategic alliances are becoming more common.

Key Developments

• April 2021, The National Medical Products Administration (NMPA) has approved Biogen's TECFIDERA (dimethyl fumarate) to treat relapsed multiple sclerosis, allowing the company to extend its presence in China.
• April 2021, Patients are still being recruited for phase III clinical studies of aripiprazole to treat Alzheimer's dementia, according to Otsuka and Lundbeck.
• June 2021, GSK and iTeos Therapeutics have announced an agreement to develop and commercialize EOS-448, an anti-TIGIT monoclonal antibody that will enable novel next-generation immuno-oncology combinations.

Key Players

The major players in the market are Biogen Inc, Otsuka Pharmaceutical Co. Ltd, Eli Lilly and Company, Merck KGaA, AstraZeneca, Takeda Pharmaceutical Company Limited, Novartis AG, Teva Pharmaceutical Industries Ltd, Johnson & Johnson Private Limited, and GlaxoSmithKline PLC.

Verified Market Research has segmented the Global Central Nervous System Therapeutics Market On the basis of Disease, Drug Class, and Geography.

• Central Nervous System Therapeutics Market, By Disease
• Neurovascular Diseases
• Trauma
• Mental Health
• Degenerative Diseases
• Infectious Diseases
• Cancer
• Other Infectious Diseases
• Central Nervous System Therapeutics Market, By Drug Class
• Analgesics
• Nervous System Drugs
• Anesthetics
• Anti-Parkinson Drugs
• Anti-Epileptics
• Other Drug Classes
• Central Nervous System Therapeutics Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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