Central Nervous System Treatment Market to Surpass 209.2 Billion by 2030 Drives Due to Rising Prevalence of Neurological Disorders
SkyQuest projects that the central nervous system treatment market will attain a value of USD 209.2 billion by 2030, with a CAGR of 6.3% over the forecast period (2023-2030). The rising prevalence of neurological disorders and increasing diagnosis rates in developed and emerging countries have resulted in a significant patient pool seeking treatment for these conditions. Neurological disorders encompass many situations, such as Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, epilepsy, and stroke in the central nervous system treatment market.
Westford,USA, Aug. 11, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the Alzheimer’s Association reports that approximately 6 million individuals in the United States are presently living with Alzheimer’s disease, a degenerative neurological disorder. Furthermore, projections indicate that the number of people affected by this condition is expected to reach anoverwhelming 13 million by the year 2050. These statistics highlight the significant and growing impact of Alzheimer’s disease on individuals, families, and healthcare systems in the central nervous system treatment market.
Browse in-depth TOC on “Central Nervous System Treatment Market”
- Pages – 260
- Tables – 96
- Figures – 76
Therapeutic research and development investments in the field of central nervous system (CNS) disorders surpass those in many other therapeutic areas. This can be attributed to the complex nature of CNS disorders and their significant impact on individuals’ brain function and behavior. In addition, therapies developed for treating CNS conditions require high precision and accuracy owing to the intricate and delicate nature of the brain in the central nervous system treatment market.
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Prominent Players in Central Nervous System Treatment Market
- Pfizer Inc.
- Novartis International AG
- Johnson & Johnson
- GlaxoSmithKline plc
- Merck & Co., Inc.
- AbbVie Inc.
- Sanofi S.A.
- Eli Lilly and Company
- AstraZeneca plc
- Biogen Inc.
- Teva Pharmaceutical Industries Ltd.
- UCB S.A.
- Boehringer Ingelheim International GmbH
- Bristol-Myers Squibb Company
- Ipsen S.A.
- Lundbeck A/S
- Otsuka Holdings Co., Ltd.
- Sunovion Pharmaceuticals Inc.
- Takeda Pharmaceutical Company Limited
- Vertex Pharmaceuticals Incorporated
Retail Pharmacy is Expected to Dominate the Market Due to the Increasing Accessibility to Prescription Drugs
The retail pharmacy segment holds significant importance in the central nervous system treatment market. One key factor is the increasing accessibility to prescription drugs and the availability of discounts offered by major retail pharmacy chains. In addition, retail pharmacies play a crucial role in providing convenient access to medications, serving as a reliable source for patients to fill their prescriptions and seek over-the-counter products.
The markets in North America emerged as the dominant region in the global central nervous system treatment market, accounting for over 46% of the revenue share. This can be attributed to several factors, including the growing geriatric population and the increasing prevalence of various CNS diseases in the region.
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Neurodegenerative Diseases Segment is Expected to Grow the Market Due to the Rising Prevalence of Neurological Disorders
Neurodegenerative diseases emerged as the leadingstrength in the central nervous system treatment market, driven by the increasing sales of drugs for conditions such as multiple sclerosis and Alzheimer’s disease. In addition, the rising prevalence of neurological disorders worldwide has led to a growing demand for effective treatments, leading to the prominence of this market.
Regional markets in the Asia Pacific is projected to experience the highest growth rate in the central nervous system treatment market. This growth can be attributed to several factors, including the ongoing improvements in healthcare infrastructure in emerging markets such as India and China.
A comprehensive analysis of the major players in the central nervous system treatment market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Central Nervous System Treatment Market
- Recently, a collaboration agreement was reached between GSK and iTeos Therapeutics to develop and commercialize EOS-448, an anti-TIGIT monoclonal antibody. This partnership aims to leverage the potential of cutting-edge immuno-oncology combinations to enhance cancer treatment outcomes. EOS-448 targets TIGIT, a protein receptor involved in immune response regulation, and holds promise for improving the effectiveness of immunotherapies in various cancers.
- The National Medical Products Administration (NMPA) recently permitted Biogen to expand its presence in China by approving the use of TECFIDERA (dimethyl fumarate) for the treatment of relapsed multiple sclerosis (MS). This regulatory approval enables Biogen to provide a proven therapy option to patients in China experiencing relapses in their MS condition.
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Key Questions Answered in Central Nervous System Treatment Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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