Central Nervous System Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Central Nervous System Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The central nervous system (CNS) therapeutics market was valued at USD 95,573.08 million in 2021, and it is expected to reach USD 142,033.02 million by 2027, registering a CAGR of 7.41% during the forecast period (2022-2027).

With the increasing COVID-19 cases worldwide, healthcare services diverted all resources toward patients suffering from COVID-19 disease. Although COVID-19 severely affects the respiratory system, it has been reported to show effects on central and peripheral systems. These included encephalopathy, inflammation, ischaemic stroke, and peripheral neurological disorders. A study published in June 2021 titled "Comprehensive Review on Neuro-COVID-19 Pathophysiology and Clinical Consequences" stated that intracerebral hemorrhage has been documented as a neurological symptom of SARS-CoV-2 CNS infection in several studies. One of the most severe consequences in COVID-19 patients is hypoxia or anoxia harm to the neurological system, especially in individuals with severely reduced O2 saturation. Further, as per the same source, 50 SARS-CoV-2 infected confirmed cases with neurological symptoms were detected in a medical center in Chicago within 45 days of the initial phase of the pandemic. 30 of the patients experienced encephalopathy which was their initial symptom. such studies are anticipated to have a significant impact on the market. Additionally, clinical trials on the repurposing of anti-depressants for COVID-19 have increased during the pandemic phase and this is expected to have a considerable impact on the CNS therapeutics market.

An increase in the number of patients suffering from CNS diseases such as mental health and neurodegenerative diseases is likely to be the key factor contributing to the growth of the CNS therapeutics market. For instance, according to the September 2021 report of the World Health Organization, about 55 million people around the world were living with dementia, and nearly 10 million cases are reported every year. As per the same source, Alzheimer’s is the most common form of dementia and constitutes about 60-70% of the total cases of dementia. Hence, the high prevalence of these diseases is expected to drive demand for effective and advanced therapeutics which is expected to boost growth in the studied market. also, awth the high prevalence of Alzheimer’s around the world, there is huge demand of the therapeutics for the disease and, government and non-government entities are investing heavily in the development of therapeutics for the disease, which is expected to fuel the growth in the market. For instance, in May 2022, Minoryx Therapeutics, a Barcelona, Spain-based Phase 3 stage biotech company focused on the development of treatments for orphan central nervous system (CNS) disorders, closed a EUR 51 million financing, and to get its drug candidate leriglitazone approved in the United States for the same indication, the company will use the financing to support the marketing authorization application (MAA) and launch preparations for adult male X-ALD (X-linked adrenoleukodystrophy) patients with adrenomyeloneuropathy (AMN) in Europe.

Additionally, as the drugs for CNS disorders are usually very high making them out of reach for many patients, especially in low- and middle-income countries and hence, increase in approval and launch of generics drugs is expected to increase the penetration of neurologic drugs around the world due to their affordability which is further expected to have a positive impact on the growth of the central nervous system therapeutics market. For instance, in June 2022, Accord Healthcare Inc., launched Vilazodone which is generic version of Allergen’s VIIBRYD and approved to treat major depressive disorder (MDD) in adults. Therefore, due to the above-mentioned factors, the central nervous system therapeutics market is expected to grow during the forecast period of the study. However, high research and development expenditure in developing CNS therapeutics and adverse-reactions associated with them are expected to restrain the growth of the studied market over forecast period.

Key Market TrendsDegenerative Disease are Expected to Dominate the CNS Therapeutics Market over the Forecast Period

The degenerative disease segment occupies a major market share over the forecast period (2022 - 2027). This disease occurs when nerve cells in the brain and peripheral nervous systems lose their function and die. The major share of it is attributed to the increasing prevalence of Alzheimer's disease, Parkinson's disease, and multiple sclerosis.

According to the September 2021 update by World Health Organization, globally, 50 million people suffer from dementia, with nearly 60% living in low and middle-income countries. It estimates the number to reach 82 million by 2030. In addition, the article "Multiple sclerosis statistics 2022" published in March 2022 shows that globally an estimated 2.8 million people have multiple sclerosis (MS) and every five minutes, someone in the world is diagnosed with MS. The burden of the diseases is increasing globally, thus it is driving demand for therapeutic development and innovation, which is anticipated to drive market growth.

Furthermore, according to Alzheimer's Society data reviewed in July 2022, in the United Kingdom, there are currently 900,000 persons living with dementia and by 2040, this is anticipated to increase to 1.6 million people. in addition, 70% of residents in nursing homes suffer from dementia or other serious memory issues in the country. The such increasing burden of the disease globally is creating demand for therapeutic development and innovation, which is anticipated to drive market growth.

Moreover, the treatment options for these diseases are very few and currently, five approved drugs are widely used for Alzheimer's, and as of July 2022, 177 clinical studies are recruiting and are in phases 1, 2, and 3 as per ClinicalTrials.gov. Thus, market players are continuously focusing on innovations and developments. For instance, in February 2022, The Food and Drug Administration (FDA) approved the first generic of Apokyn (apomorphine hydrochloride injection) drug cartridges to treat hypomobility “off” episodes (“end-of-dose wearing off” and unpredictable “on/off” episodes) associated with advanced Parkinson’s disease. Such advancements in the segment are expected to drive the growth of the segment over the forecast period.

Therefore, the rise in prevalence of these diseases, the drug development pipeline, and the potential of this segment open opportunities for clinical studies, product launches, and strategic collaborations. Thus, the segment is expected to witness growth over the forecast period.

North America is Expected to Dominate the Central Nervous System Therapeutics Market

North America is expected to dominate the CNS therapeutics market over the forecast period (2022 - 2027). The robust growth of technology in the healthcare sector in the United States, coupled with the increasing product launches, owing to the rising burden of the central nervous system disease, and the rising level of research and development are driving the growth of the market.

Furthermore, one of the major factors driving the market's growth in the region is the rising burden of neurodegenerative diseases. The number of Americans living with Alzheimer's is growing rapidly, according to the Alzheimer's Association data updated in March 2022. In addition, the data from alzheimers.org, in 2021 shows that in the United States, an estimated 6.2 million Americans aged 65 and older were living with Alzheimer-related dementia 2021. Further, in this context, the Pharmaceutical Research and Manufacturers of America reviewed their data in October 2021 and stated that over the next 30 years, it is expected that more than 12 million Americans may have a neurodegenerative illness, and the United States economy is already losing more than USD 655 billion annually due to the costs of treating neurodegenerative disorders alone. Such a high burden of the disease and cost of expenses is creating a definitive demand for the availability and development of advanced therapeutics for central nervous system (CNS) disorders or diseases. Thereby, expected to fuel the market growth over the forecast period.

The rising disease burden is increasing government funding and support for research activities. Such as, the United States congress invested nearly USD 126 million in multiple sclerosis research in 2021 and planning to increase the funding to USD 131 million in 2022. Additionally, many clinical studies are undergoing in North America, especially in the United States. Among the total neurological disease clinical studies being conducted worldwide, more than half are in the United States. In March 2021, the United States president signed the American Rescue Plan Act 2021 and according to the act, a portion of spending is allotted to mental health services, further increasing the government activities toward neurological diseases. Hence, the government initiative in the region is expected to grow the market demand in the country, bolstering the growth of the market.

Thus, the rising disease burden, healthcare infrastructure, and supportive government initiatives make North America a very attractive opportunity for industries and the market studied is expected to witness growth in the region over the analysis period.

Competitive Landscape

The central nervous system therapeutics market remains moderately competitive, with key players in the market. However, the need for innovation in the treatment and drug delivery system, clinical trials, and strategic collaboration is likely to help companies maintain their market position. Some of the major players include Biogen Inc, Otsuka Pharmaceutical Co. Ltd, Eli Lilly and Company, Merck & Co., AstraZeneca, Takeda Pharmaceutical Company Limited, Novartis AG, and Teva Pharmaceutical Industries Ltd, Johnson & Johnson Private Limited, Pfizer Inc., and GlaxoSmithKline PLC.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.