Dublin, Aug. 18, 2021 (GLOBE NEWSWIRE) -- The "Global Central Nervous System Therapeutics Market, By Drug Class, By Application, By Route of Administration, By End User, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Central Nervous System Therapeutics Market was valued USD 82947.46 million in 2020 and is forecast to grow with an impressive CAGR of 7.4% to 2026
The market showed a steady growth in the historical years and is expected to continue to grow in the next five years too. The growth of the market can be attributed to the increasing demand for the effective treatment plans and better medication. Furthermore, the rising foreign direct investments are also contributing to the growth of the Global Central Nervous System Therapeutics Market.
The Global Central Nervous System Therapeutics Market is segmented by drug class, application, route of administration, end-user, distribution channels, and regional distribution and by company. Based on drug class the market is further fragmented into multiple sclerosis, antipsychotic, antiepileptics, analgesics & anesthetics, anti-Parkinson, and others. The multiple sclerosis sub-segment is expected to dominate the market in the future whereas antiepileptics is expected to grow at a faster rate.
The application segment is further fragmented into neurodegenerative diseases, mental health and trauma, neurovascular diseases, infectious diseases, CNS cancer and others. The neurodegenerative diseases sub-segment is dominating the Central Nervous System Therapeutics Market accounting for 34.29% of total market share in 2020.
Over the forecast period, the category is expected to maintain its dominance. The rising incidence of neurodegenerative disorders such as Multiple Sclerosis, Alzheimer's and Parkinson's, as well as the high cost of treatment of these neurodegenerative disorders, are expected to boost the segmental share.
According to the Parkinson's Foundation, in United States alone, there were approximately 930,000 people suffering from Parkinson diseases in 2020 and it is estimated that by 2030, there will be around 1.2 million people in the United States with Parkinson disease. According to the National Council of Behavioral Health, approximately 70% of adults, in the United States will be exposed to some form of traumatic events once in their lifetime.
Future of the market is favorably dependent on the advancement of therapeutic drugs for central nervous system disorders. The market experiences a rising demand for effective drugs and motivating investments from pharmaceutical companies in research and development.
Companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
Some of the major players in the market are
Johnson & Johnson
F. Hoffmann-La Roche AG
Eli Lilly and Company Ltd.
Merck & Co. Inc.
Teva Pharmaceutical Industries Ltd.
Otsuka Holdings Co. Ltd.
Bristol Myers Squibb Pharmaceuticals Ltd.
Years considered for this report:
Historical Years: 2016 - 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 - 2026
Global Central Nervous System Therapeutics Market, By Drug Class:
Analgesics & Anesthetics
Global Central Nervous System Therapeutics Market, By Application:
Mental Health and Trauma
Global Central Nervous System Therapeutics Market, By Route of Administration:
Global Central Nervous System Therapeutics Market, By End-User:
Global Central Nervous System Therapeutics Market, By Distribution Channel:
Global Central Nervous System Therapeutics Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/4744aq
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