PUBLISHER: Orion Market Research | PRODUCT CODE: 1215776
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215776
Title:Global Central Nervous System Therapeutic Market Size, Share and Trends Analysis Report, By Indication (Neurovascular Diseases, CNS Trauma, Mental Health, Neurodegenerative Diseases, Infectious Diseases, and Cancer), By Application (Hospital and Clinic, Homecare, and Others), By Drug Class (Immunomodulatory Drugs, Interferons, Decarboxylase Inhibitors, Dopamine Agonists, Antidepressants, and Others), Forecast Period (2022-2028).
The global central nervous system therapeutics market is anticipated to grow at a CAGR of 7.5% during the forecast period. The rising prevalence of neurological disorders across the globe is leading to the increasing growth of the global central nervous system therapeutic market. According to the World Health Organization (WHO), over 50 million people have epilepsy globally. It is estimated that there are globally 47.5 million people with dementia with 7.7 million new cases every year. Alzheimer's disease is the most common cause of dementia and may contribute to 60-70% of cases. The prevalence of migraine is more than 10% across the globe. This, in turn, is accelerating the demand for the treatment of these conditions, thereby driving market growth.
The global central nervous system therapeutics market is segmented based on indication, application, and drug class. Based on the indication, the market is segmented into neurovascular diseases, CNS trauma, mental health, neurodegenerative diseases, infectious diseases, and cancer. Based on the application, the market is segmented into hospitals & clinics, homecare, and others. Based on drug class, the market is segmented into immunomodulatory drugs, interferons, decarboxylase inhibitors, dopamine agonists, antidepressants, and others. The above-mentioned segments can be customized as per the requirements. Immunomodulatory drugs are used as it suppresses the immune system and supports the body to fight infection, cancer and other diseases.
The global central nervous system therapeutic market is segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North American region is expected to hold a significant share in the global CNS therapeutic market, owing to the rising incidence of neurodegenerative disorders such as brain tumor in the region. According to the American Cancer Society, latest data in 2022 around 25,050 malignant tumors of the brain or spinal cord will be diagnosed in the US and around 18,280 people will die from the brain and spinal cord tumors.
The major companies serving the global central nervous system therapeutic market include Johnson & Johnson Services Inc., Merck & Co. Inc., Novartis AG, Biogen Inc., and Eli Lilly, and Company Inc. The market players are contributing to the market growth through the adoption of various strategies including mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in May 2022, Biogen Inc. and Denali Therapeutics Inc. announced the initiation of phase 2b study of LRRK2 Inhibitor in Parkinson's Disease which is a central nervous disease that will slow down the progression of Parkinson's disease.
Research Methodology
The market study of the global central nervous system therapeutic market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: