The Central Nervous System 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 2022-2027.

New York, April 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Central Nervous System Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06271919/?utm_source=GNW

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 research study published in JAMA Neurology involving 214 patients in China showed that patients with severe illness from COVID-19 had neurologic manifestations of acute cerebrovascular disease, impaired consciousness, and skeletal muscle injury. Additionally, clinical trials on the repurposing of anti-depressants for COVID-19 may have minimal impact on the CNS therapeutics market.

An increase in the number of patients suffering from CNS disease is likely to be the key factor contributing to the growth of the CNS therapeutics market. According to the WHO, in 2019, stroke and Alzheimer’s are the second and seventh top-most causes for deaths globally. A study published in The Lancet finds that neurological diseases are the third common cause of disability and premature deaths and are estimated to increase with age in Europe. Additionally, a rise in generics is expected to drive the penetration of neurologic drugs to lower and middle-income countries, making them affordable. Along with this, increasing awareness programs may result in drugs being easily accessible. Innovation in drug delivery systems, such as nanoparticles, creates opportunities for new drugs. A recent Rutgers research in 2020 was conducted for the treatment of neurological disorders by creating a micro-environment and suppressing inflammation using nanomaterials, polymers, and neural proteins. Therefore, all the above factors are expected to contribute to the growth of the CNS therapeutics market.

R&D is a complex process and an important decision within the pharmaceutical industry. It involves a detailed study of the safety and efficacy of novel drugs, along with meeting regulatory guidelines before releasing them into the market. According to the analysis by Tufts Center for the Study of Drug Development in 2018, CNS drug development is 20% more time-consuming and takes 38% longer time to get approved than other non-CNS drugs. Moreover, expenditure in R&D may not always yield higher returns, making it a risky investment. As a result, drugs are priced higher to recover the spending. Hence, risky R&D spending for developing CNS drugs may discourage pharmaceutical companies from investing in CNS therapeutics. Furthermore, adverse reactions reported for certain CNS drugs, such as anti-epileptic drugs, may inhibit the overall market growth.

Key Market Trends

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

The degenerative disease segment occupies a major share of the market over the forecast period (2021 - 2026). 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 WHO, 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. Atlas of MS shows that 2.8 million people live with multiple sclerosis worldwide and 10 million with Parkinson’s disease as per the Parkinson’s Foundation. The treatment options for these diseases are very few. Currently, five approved drugs are widely used for Alzheimer’s, and 146 clinical studies are recruiting, which are in Phases 1, 2, and 3. Recently, FDA approved Ongentys capsules for Parkinson’s disease when a patient’s medications are not working well and Zeposia capsules for relapsing forms of multiple sclerosis. According to Alzheimer’s Europe, it is estimated that about 7.8 million individuals in the European Union are with dementia. Furthermore, the Harvard NeuroDiscovery Center estimates that nearly 12 million Americans may suffer from neurodegenerative diseases 30 years from now if there are no measures taken. Therefore, the rise in prevalence of these diseases, drug development pipeline, and the potential of this segment opens opportunities for clinical studies, product launches, and strategic collaborations.

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 (2021 - 2026).

According to GBD 2019, neurological disorders ranked third for the cause of deaths in Canada and fourth in the United States. The Alzheimer’s Disease Fact and Figures Report estimated that 5.8 million Americans are living with dementia, among which 5.6 million are aged 65 years and above in 2019. The same source also reports that the total costs for Alzheimer’s were USD 290 billion, which includes Medicare (51%), Medicaid (17%), Out of Pocket (22%), and other costs (11%).

Government funding and support for research activities are increasing due to the rising burden of the disease. The US congress invested about USD 10 million in multiple sclerosis research and may increase the funding by USD 20 million. CDC established a National Neurological Conditions Surveillance System (NNCSS) for tracking the disease. In 2019, Canada released its first national strategy for tackling dementia. The Canadian Institutes of Health Research spent around USD 200 million for research activities on dementia, and it is providing an additional USD 31.6 million over 5 years, which is likely to bring together individuals for advanced research opportunities. A large number of 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, US President Biden signed the American Rescue Plan Act 2021. According to the act, a portion of spending is allotted to mental health services, further increasing the government activities toward neurological diseases. The rising burden of the disease and healthcare infrastructure and supportive government initiatives make North America a very attractive opportunity for industries.

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 and 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, 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
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