Global Central Nervous System Therapeutics Market Report 2021: Companies are Focusing on Extensive Research and Developments Activities to Stay Competitive
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.
Competitive Landscape
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
Biogen Inc.
Johnson & Johnson
F. Hoffmann-La Roche AG
Novartis AG
Sanofi AG
Eli Lilly and Company Ltd.
Pfizer Inc.
Merck & Co. Inc.
AstraZeneca PLC
Teva Pharmaceutical Industries Ltd.
GlaxoSmithKline PLC
Bayer AG
Otsuka Holdings Co. Ltd.
Amgen Inc.
Bristol Myers Squibb Pharmaceuticals Ltd.
Report Scope:
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:
Multiple Sclerosis
Antipsychotic
Antiepileptics
Analgesics & Anesthetics
Anti-Parkinson
Others
Global Central Nervous System Therapeutics Market, By Application:
Neurodegenerative Diseases
Mental Health and Trauma
Neurovascular Diseases
Infectious Diseases
CNS Cancer
Others
Global Central Nervous System Therapeutics Market, By Route of Administration:
Oral
Parenteral
Others
Global Central Nervous System Therapeutics Market, By End-User:
Hospitals
Clinics
Diagnostic Laboratories
Others
Global Central Nervous System Therapeutics Market, By Distribution Channel:
Hospital Pharmacy
Online Pharmacy
Retail Pharmacy
Global Central Nervous System Therapeutics Market, By Region:
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
APAC
China
Japan
India
South Korea
Australia
South America
Brazil
Argentina
Colombia
MEA
South Africa
Saudi Arabia
UAE
For more information about this report visit https://www.researchandmarkets.com/r/4744aq
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