PUBLISHER: Allied Market Research | PRODUCT CODE: 1446930
PUBLISHER: Allied Market Research | PRODUCT CODE: 1446930
The Central Nervous System (CNS) Therapeutics Market was valued for $114,145.58 million in 2023 and is estimated to reach $199,098.30 million by 2033, exhibiting a CAGR of 5.7% from 2024 to 2033. The central nervous system (CNS) is a complex network of nerves and cells that play a crucial role in coordinating and regulating the body's activities. It comprises the brain and spinal cord, serving as the primary control center for the entire nervous system. Central nervous system therapeutics aim to alleviate symptoms, improve cognitive function, and slow down disease progression. Central nervous system therapeutics primarily involve the use of drugs to address disorders and imbalances within the central nervous system. The medications target various neurological and psychiatric conditions, ranging from neurodegenerative diseases like Alzheimer's and Parkinson's to mental health disorders such as mood disorders, anxiety, and psychotic disorders.
The central nervous system (CNS) therapeutics market is expected to register significant growth, owing to surge in prevalence of CNS disorders, and favorable government initiative such as research grants to support research and innovation. The rise in prevalence of CNS disorders has emerged as a major driver for the central nervous system (CNS) therapeutics market. This can be attributed to the stressful lifestyle, negligence towards mental health, and rise in geriatric population. The aging population, in particular, has witnessed a surge in neurodegenerative conditions such as Alzheimer's and Parkinson's diseases. For instance, according to Center for Disease Control and Prevention, it was estimated that around 6.7 million Americans aged 65 years or older had Alzheimer's disease.
Additionally, the modern, fast-paced lifestyle, marked by high stress levels and sedentary habits, has been associated with a heightened risk of mental health disorders like anxiety and depression. For instance, according to National Library of Medicine, in 2021, it was estimated that that more than one in five U.S. adults live with a mental illness. Pharmaceutical companies are increasingly focusing on the discovery and development of novel drugs and therapies targeting various CNS conditions. Breakthroughs in neuroscience and a deeper understanding of the underlying mechanisms of these disorders have paved the way for more effective and targeted treatment options. The demand for CNS therapeutics is expected to surge as patients and healthcare providers seek advanced interventions that not only alleviate symptoms but also address the root causes of the CNS disorders. Thus, the rise in prevalence of CNS disorders is expected to contribute significantly to the growth of the central nervous system (CNS) therapeutics market.
In addition, favorable government initiatives such as research grants to support research and innovation in treating central nervous system disorders are expected to drive the growth of the market. Governments around the world are recognizing the critical need to address conditions such as neurodegenerative diseases, psychiatric disorders, and neurological disorders, which collectively pose a substantial burden on global healthcare systems. One notable initiative driving the research is the provision of research grants specifically dedicated to advancing our understanding of the central nervous system and developing novel therapeutic interventions. The research grants serve as a catalyst for scientific exploration, fostering collaboration between researchers, academia, and pharmaceutical companies. For instance, American Parkinson Disease Association, awards research grant of maximum of $75,000 to research scientists. American Parkinson Disease Association Research Grants are intended to support research aimed at developing new insights into the pathophysiology, etiology and treatment of Parkinson's disease.
Grant proposals can address research questions anywhere along the pipeline from basic science to rehabilitation-focused projects. American Parkinson Disease Association seeks to promote the entry of new investigators into the field of Parkinson research, as well as to support important new ideas in the field worthy of investigation. By providing grants governments agencies are playing a pivotal role in accelerating the development of innovative treatments and therapies. Thus, favorable government initiatives such as research grants are expected to drive the growth of the market.
However, the high cost of the central nervous system (CNS) therapeutic drug has emerged as major concerns restraining the growth of the market. The complex nature of neurological disorders often necessitates sophisticated and specialized therapeutic interventions, leading to elevated research and development expenses. Additionally, the stringent regulatory requirements imposed by health authorities contribute to the lengthy and resource-intensive process of bringing CNS drugs to market. These substantial costs are then transferred to end-users, comprising patients and healthcare systems, thereby limiting accessibility and affordability of the CNS drugs. Thus, the high cost of the central nervous system (CNS) therapeutic drug might restrain the growth of the market.
The central nervous system (CNS) therapeutics market is segmented based on disease type and region. By disease type, it is divided into neurovascular diseases, CNS trauma, mental health, neurodegenerative diseases, infectious diseases, cancer, and others. The mental health segment is further segmented into mental health anxiety disorders, epilepsy, mood disorders, psychotic disorders, and others.
In addition, the neurodegenerative diseases are further classified into Alzheimer's disease, Parkinson's disease, multiple sclerosis, Huntington's Disease, amyotrophic lateral sclerosis, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Biogen Inc, Johnson and Johnson, Eli Lilly and Company Inc, Merck and Co. Inc, F. Hoffmann-La Roche AG, Novartis AG, Takeda Pharmaceuticals, Viatris, UCB, and Teva Pharmaceutical Industries Ltd.
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