In 2020, the global market for central nervous system treatments was valued at USD 81.67 billion. The CNS treatment and therapy market is estimated to increase at a CAGR of 4.8% during the forecast period, from US$ 112 billion in 2021 to US$ 192 billion by 2032.
COVID-19 has had an unusual and devastating worldwide impact, with central nervous system treatment experiencing a negative demand shock across all regions during the pandemic.
According to the market study by FMI, the CNS treatment and therapy market is expected to shrink by -4.2 per cent in 2020. When the pandemic is finished, this market’s demand and growth are foreseen to revert to pre-pandemic levels, resulting in a sharp increase in CAGR.
The rising frequency of neurological illnesses, as well as the rising rates of diagnosis in both industrialized and developing countries, has resulted in a vast patient pool requiring system treatment.
This is bolstered by non-profit groups, healthcare institutions, and market players’ efforts to raise awareness about these disorders through campaigns and other means. These characteristics, combined with the release of new generations of antipsychotic medications by global and domestic competitors, are expected to fuel the nervous system market‘s growth possibilities over the forecast period.
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Over the forecast period, potential product introductions for treating neurological illnesses are expected to drive CNS treatment and therapy market expansion. The availability of treatment in developing nations is likely to grow as a result of these planned launches.
The nervous system treatment market growth is restricted by a time-consuming approval process and a strict regulatory framework. The cost of therapeutic research and development is higher than in other therapeutic illness areas. Owing to the medications targeting the central nervous system must cross blood-brain barriers, they must go through a lengthy development and approval process.
Patient recruiting is likewise a hurdle for the business, as is the overall pharmaceutical industry’s cost per approval. Furthermore, adverse events associated with the usage of these pharmaceuticals are expected to stymie the global CNS therapeutics market‘s expansion.
Within the pharmaceutical sector, R&D is a complex process and a critical decision. It entails a thorough investigation of the safety and efficacy of new pharmaceuticals, as well as compliance with regulatory requirements before they are released onto the nervous system treatment market.
R&D spending may not necessarily result in increased profits, making it a hazardous investment.
As a result, drug prices are raised to recoup the costs. The high-risk R&D investment for CNS therapeutics medication development may deter pharmaceutical corporations from investing in CNS therapies.
Additionally, unfavourable reactions to certain CNS medications, such as antiepileptic treatments, may stifle overall market growth.
Key Takeaways
- North America dominated the CNS treatment and therapy market for central nervous system therapeutics in 2020, accounting for 47.3 per cent of total revenue.
- Over the next eight years, the market for central nervous system therapeutics in the Asia Pacific is predicted to develop at the fastest rate. During the projection period, improving healthcare infrastructure in emerging economies like India and China, as well as a large patient pool with significant unmet medical requirements, are expected to drive treatment adoption rates.
- In the year 2020, the non-biologics sector dominated the global CNS treatment and therapy market. The regulatory body imposes fewer regulations on pharmaceuticals than on biologics for approval, which explains their dominance.
- Immunomodulators accounted for the majority of the market in 2020. The ongoing invention and development of pharmaceutical compounds to treat disease indications is a primary factor driving immunomodulators in the market.
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Competitive Landscape
Owing to multiple businesses focusing on central nervous system therapies, the industry is fragmented. Companies have been able to maintain a solid position in the CNS treatment and therapy market because of a robust pipeline and strategic distribution arrangements.
Biogen is the CNS treatment and therapy market leader, with the company’s key compounds expected to generate significant revenue by 2020. Johnson & Johnson Services, Inc., Pfizer Inc., RF. Hoffman-La Roche Ltd., Novartis AG, Sanofi, Teva Pharmaceutical Industries, and Otsuka Holdings are among the market’s other participants.
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