Central Nervous System Therapeutic Market Likely To Touch At Central Nervous System Therapeutic By 2028: Grand View Research Inc.
The global central
nervous system therapeutic market size is expected to reach USD 205.0 billion by 2028, according to
a new report by Grand View Research, Inc. The market is expected to expand at a
CAGR of 7.4% from 2021 to 2028. High
unmet medical needs and government initiatives to reduce the disease burden are
driving the market for central nervous system (CNS) therapeutic over the
forecast period. According to WHO, the global economy loses due to depression
and anxiety is more than USD 1 trillion per year and rising patient base of
mental health globally is expected to increase the economy loses by USD 16
trillion in 2030.
The market holds
strong future growth opportunities and major players are adopting different
marketing strategies such as new product development, collaborations,
geographic expansion, mergers and acquisitions, and new product approval, to
strengthen their positions. In February 2020, Biogen announced the investment
in Sangamo’s zinc finger platform to develop therapies for Alzheimer’s disease
and other neurological diseases. Similarly, the company has an agreement with
Ionis Pharmaceutical for the development of drug candidates applicable across a
wide range of neurological diseases.
Presence of
strong pipeline products by major pharmaceutical companies such as Biogen, H.
Lundbeck A/S, Eli Lilly and Company, and others are expected to accelerate
market growth over the forecast period. Besides, other pharmaceutical companies
are also actively involved in the development of novel therapies and investing
heavily to develop effective therapeutics for the treatment of CNS associated
diseases.
Most of the late
phase development drugs are for the treatment of neurodegenerative disorders
such as Alzheimer’s disease, multiple sclerosis, Parkinson’s disease, and
amyotrophic lateral sclerosis. The drug candidates such as aducanumab,
brexpiprozole, evobrutinib, solanezumab are some of the potential drugs that
could be commercialized in the next five to eight years for the treatment of
various indication of neurodegenerative disorders. Apart from neurodegenerative
diseases, migraine, schizophrenia, and epilepsy are the major CNS disease
indications that have potential drug candidates in pipeline.
The cancer
segment is expected to witness the fastest growth rate over the forecast
period. Increasing prevalence, high mortality rate, and rising demand for
effective treatment are expected to fuel the growth of the market for CNS
therapeutic. According to National Cancer Institute estimates, the number of
new cases of CNS cancers was 23,890 whereas the number of deaths was 18,020 in
the U.S. in 2020.
Pharmaceutical
companies are adopting strategies such as product development, merger and
acquisition, and collaboration to strengthen their position in market. For
instance, Biogen has signed agreements with Ionis Pharmaceuticals, Atalanta
Therapeutics, and Sangamo Therapeutics to develop novel therapeutics for the
treatment of different disease indications of the central nervous system.
Similarly, in January 2020, the CNS Pharmaceuticals has entered into a
licensing agreement with MD Anderson Cancer Center to investigate WP1244, a
designed DNA-binding agent to cross the blood-brain barriers for the potential
treatment of brain cancers.
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Central Nervous System Therapeutic Market Report Highlights
- The
neurodegenerative diseases segment accounted for the largest revenue share
of nearly 40.0% in 2020 and is anticipated to maintain its dominance over
the forecast period
- Pipeline
candidates such as aducanumab, brexpiprozole, evobrutinib, solanezumab are
anticipated to drive the neurodegenerative disorder segment from 2021 to
2028
- The CNS cancer
segment is expected to witness the fastest growth rate over the forecast
period. Increasing demand for effective treatment is expected to drive the
segment
- In Asia Pacific,
the market is estimated to witness the fastest growth over the coming
years owing to the increase in treatment rate and betterment of healthcare
infrastructure in the region
- North America
held a majority of share in 2020 due to high awareness level in the region
and better reimbursement scenario
List of Key Players of Central Nervous System Therapeutic Market
- Biogen
- Otsuka
Pharmaceutical Co., Ltd.
- Eli Lilly and
Company
- Merck & Co.
- Astra Zeneca
- Shire PLC
- Novartis AG
- Teva
Pharmaceutical Industries Ltd.
- Johnson &
Johnson Services, Inc.
- Pfizer, Inc.
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