The central nervous disorders therapeutics market generated $1,17,556.10 million in 2020, and is projected to reach $2,32,294.20 million by 2030, growing at a CAGR of 7.3% from 2021 to 2030.
Central nervous system is a part of the nervous system, which controls most functions of the body and mind. It consists of two parts, brain, and spinal cord. It integrates the received information, thereafter, coordinating and controlling activities of all parts of the body. However, central nervous system disorders include neurovascular diseases, degenerative diseases, infectious diseases, mental health, and other diseases, which affect structure and function of brain or spinal cord. Thus, CNS treatment is used to treat these disorders. In addition, the central nervous disorders therapeutics market is anticipated to grow substantially during the forecast period, owing to increase in geriatric population and rise in case of CNS disorders such as neurovascular diseases, degenerative diseases, Alzheimer's disease, Parkinson's disease, multiple sclerosis, infectious diseases, mental health, anxiety disorders, bipolar disorder, and depression.
Moreover, increase in demand for effective CNS treatment and therapeutic options encourages major pharmaceutical companies to invest in R&D, which creates future growth opportunities. Furthermore, rise in R&D activities for introduction of novel drugs and advancements in diagnostics technologies to develop superior drug delivery system are anticipated to propel the market for central nervous system disorder treatment.
In addition, rise in prevalence of CNS disorders and presence of strong pipeline drugs are the major factors that drive growth of the central nervous disorders therapeutics market. However, high treatment cost hampers the market growth, especially high cost of treatment in developing countries. Moreover, introduction of a novel drug delivery systems in CNS and advancements in technologies to develop superior drug delivery systems are expected to create future growth opportunities for the central nervous disorders therapeutics market.
COVID-19 impact on the central nervous disorders therapeutics market
Coronavirus (COVID-19) was discovered in December 2019 in Hubei province of Wuhan city in China. The disease is caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans.
After its discovery in Wuhan, the disease rapidly spread to other parts of the globe. Moreover, this virus causes various symptoms in patients, which range from common symptoms to serious symptoms. For instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement.
Furthermore, the virus has high potential of lethality in geriatric population. On 11th March 2020, the World Health Organization made an assessment that COVID-19 can be characterized as pandemic. In addition, there are only a few vaccines that received emergency approvals for COVID-19 treatment or prevention. Thus, social-distancing is observed as the most important measure to stop the spread of this disease. Furthermore, to maintain social distancing, various countries across the world have adopted nationwide lockdowns. Most markets are experiencing a decline, owing to the outbreak. This also includes the central nervous disorders therapeutics market. In addition, COVID-19 severely affects the respiratory system and it has been reported to show effects on central and peripheral systems. This included encephalopathy, inflammation, ischemic stroke, and peripheral neurological disorders. Moreover, patients suffering from severe illness from COVID-19 have neurologic manifestations of acute cerebrovascular disease, impaired consciousness, and skeletal muscle injury. According to the National Center for Biotechnology Information (NCBI), data published in 2020, states that patients with pneumonia typically develop hypoxic or type 1 respiratory failure, with low CO2 levels and a raised respiratory rate, while brain failure typically leads to type 2 respiratory failure and involves low oxygen, high CO2 and reduced respiratory rate. In addition, COVID-19 may have minimal impact on the central nervous disorders therapeutics market.
Central Nervous Disorders Therapeutics Market Segmentation
The central nervous disorders therapeutics market is classified on the basis of disease, distribution channel, age group, and region. By disease, the market is divided into neurovascular diseases, degenerative diseases (Alzheimer's diseases, Parkinson's disease, multiple sclerosis, and others), infectious diseases, mental health (anxiety disorders, bipolar disorder, depression, and others), and other diseases. By distribution channel, it is categorized into hospital-based pharmacies, retail pharmacies, and online pharmacies. By age group, it is segmented into pediatric, adult, and geriatric. By region, the market is analyzed across, North America, Europe, Asia-Pacific, and LAMEA.
By disease, the degenerative disease segment accounted for the largest share in the central nervous disorders therapeutics market in 2020. In addition, this segment is expected to maintain its position during the forecast period. Key factors, such as increase in geriatric population, which is prone to CNS disorder including Alzheimer's disease, Parkinson's disease, multiple sclerosis, and other diseases are set to drive growth of the market.
Mental Health segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By distribution channel, the hospital-based pharmacies segment accounted for a major share of the market share in the central nervous disorders therapeutics market in 2020. This segment is expected to exhibit a prominent growth rate, owing to rapid increase of central nervous system disorder rate in geriatric population, technological advancements, and lifestyle change, which augments the market growth.
By Distribution Channel
Retail Pharmacies segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By age group, the geriatric age group segment contributed for a large share in 2020, which was accounted for three-fifths of the total market share. In addition, this segment is expected to maintain its position during the forecast period.
By Age Group
Adult segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By region, the market is divided into North America, Europe, Asia-Pacific, and LAMEA. The North America dominated the market for central nervous system disorder treatment and held the largest revenue share in 2020, with highest growth rate majorly due to changing lifestyle conditions, increase in geriatric population, and increase in cases of central nervous system disorder.
North America was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.
Key players operating in the central nervous disorders therapeutics market include Biogen, Otsuka Pharmaceutical Co. Ltd., Eli Lilly and Company, Merck & Co., Astra Zeneca, Shire PLC, Novartis AG, Teva Pharmaceutical Industries Ltd., Johnson & Johnson Services, Inc. and Pfizer, Inc.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the central nervous disorders therapeutics market, and the current trends and future estimations to elucidate the imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
Key Market Segments
- Neurovascular Diseases
- Degenerative Diseases
- Alzheimer's Disease
- Parkinson's Disease
- Multiple Sclerosis
- Infectious Diseases
- Mental Health
- Anxiety Disorders
- Bipolar Disorder
- Other Diseases
By Distribution Channel
- Hospital Based Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Age Group
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA
List of key players profiled in the report
- Otsuka Pharmaceutical Co., Ltd.
- Eli Lilly and Company
- Merck & Co.
- Astra Zeneca
- Shire PLC
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Johnson & Johnson Services, Inc.
- Pfizer, Inc.
Central Nervous Disorders Therapeutics Market Report Highlights
By Distribution Channel
By Age Group
Key Market Players
Johnson & Johnson, Shire Plc., AstraZeneca PLC., Ostuka Pharmaceuticals Ltd, Merck & Co., Inc., PFIZER INC., Novartis AG, Eli Lily and Company., Biogen, Inc, Teva Pharmaceuticals, Inc.
This section provides opinions of the top-level CXOs in the central nervous system disorder treatment industry. According to the CXOs, central nervous system disorder that affects the structure and function of the brain and spinal cord and cause diseases and disturbs mental health in population of all age group, mostly in geriatric population. Diseases such as neurodegenerative diseases, degenerative diseases, Alzheimer’s disease, Parkinson's disease, multiple sclerosis, autoimmune & inflammatory diseases, genetic disorders, tumors, and cancers are disorders of central nervous system that boost the market growth. The degenerative disease segment dominated in 2020, and is expected to remain dominant throughout the forecast period.
According to CXOs, the central nervous system disorder treatment market is anticipated to witness considerable growth in the future, owing to rise in awareness regarding neurovascular diseases, degenerative diseases, infectious diseases, and mental health by government and non-government organizations and surge in prevalence of lifestyle-associated CNS disorders boost growth of the central nervous system disorder treatment market. Moreover, key pharmaceutical players are focusing on new therapies to prevent or improve symptoms of neurological disorders and various other key players in the central nervous system disorder treatment market are heavily investing and launching novel drugs, which is anticipated to boost the market for central nervous system during the forecast period.
CXOs further stated that growth in geriatric population and increase in disorders in emerging countries such as some part of Asia, owing to less neurologic training centres and availability of laboratory facilities and equipment that limited in emerging countries are expected to present lucrative opportunities for the market expansion.