Report

The Central Nervous System Therapeutics Market is expected to register a CAGR of 6.02% during the forecast period.

COVID-19 cases worldwide profoundly impacted the CNS therapeutics market as lockdown restrictions created few mental disturbances in people. For instance, according to a research brief published by the WHO in March 2022, anxiety and sadness surged dramatically worldwide by 25% in the first year of the COVID-19 pandemic. The increase in the prevalence of mental health problems coincided with severe disruptions to mental health services, leaving huge gaps in care and adversely impacting the studied market during the pandemic. Further, as per the source mentioned above, by the end of 2021, things will have somewhat improved, but still, far too many people are unable to get the care and support they need for both current and newly developed mental health illnesses, thereby adversely impacting the market over the post-pandemic period.

An increase in the number of patients suffering from central nervous system (CNS) diseases such as mental health and neurodegenerative diseases and other CNS diseases increases the usage of CNS therapeutics which is expected to drive the market's growth. For instance, according to the March 2023 World Health Organization (WHO) report, more than 55 million people have dementia worldwide, and nearly 10 million new cases are reported yearly. As per the same source, Alzheimer's is the most common form of dementia and constitutes about 60-70% of the total cases of dementia. Similarly, as per the report published by Ridgecrest Regional Hospital in May 2022, one billion people globally, or 12% of the world's population, suffer from migraines. In addition, there is a massive demand for CNS therapeutics, and government and non-government entities are raising funds to support the authorization of CNS therapeutics, which is expected to fuel the growth in the market. For instance, in May 2022, Minoryx raised USD 55.4 USD million (EUR 51 million) to support marketing authorization applications and launch preparations for X-linked Adrenoleukodystrophy (X-ALD) therapy for orphan central nervous system (CNS) disorders. Hence, the high prevalence of CNS diseases likely increases the demand for therapeutics and new developments, which are expected to boost growth in the studied market.

The development of novel drug delivery systems is expected to increase the usage of various neurological drugs through these systems, which will likely propel the market to grow. For instance, in January 2023, Spark Therapeutics and Neurochase entered a strategic collaboration to develop Neurochase's proprietary delivery technology for use with selected gene therapies for rare diseases in CNS. Through this collaboration, Neurochase will bring its deep direct drug delivery technology expertise to Spark's leading AAV platform, which is expected to grow significantly in the studied market over the forecast period.

Therefore, the high burden of CNS diseases, increasing demand for CNS therapeutics, and the development of novel drug delivery systems likely increase the need for the market products and are expected to boost the market over the forecast period. However, high research and development expenditure in developing CNS therapeutics and adverse reactions associated with them are expected to restrain the growth of the studied market over the forecast period.

Central Nervous System Therapeutics Market Trends

Parkinson's Disease Under Degenerative Disease Segment is Expected to Have Major Market Share Over the Forecast Period

Parkinson's disease is a degenerative disease that affects the nervous system and body parts controlled by the nerves. The degenerative disease occurs when nerve cells in the brain and peripheral nervous systems lose their function and die. The Parkinson's disease segment is expected to have a significant market share over the forecast period attributed to the increasing prevalence of Parkinson's disease and increasing research and developments on new therapeutics for this disease.

According to the report by Parkinson's Foundation published in December 2022, nearly 90,000 people in the United States are diagnosed with Parkinson's disease (PD) each year, representing a 50% increase from the previous estimate of 60,000 diagnosed yearly. In addition, as per the source mentioned above, the number of people living with Parkinson's is expected to rise to 1.2 million by 2030 in the United States. This data shows the increasing burden of Parkinson's disease, which increase the demand for therapeutics that likely propel the market over the forecast period.

Moreover, the new product approvals and launches in this segment increase the widespread distribution of products in various regions and increase the availability of products which is expected to boost the segment's growth. For instance, in February 2021, Eisai Co., Ltd launched the Parkinson's disease treatment Equfina (safinamide mesylate) in the Asian region, excluding Japan. Such product approvals and launches are expected to drive the segment's growth over the forecast period.

Thus, all the factors mentioned above, such as the increasing burden of Parkinson's disease and new product developments, along with approvals and launches, are expected to boost the market's growth over the forecast period.

North America is Expected to Have a Significant Share in the Market Over the Forecast Period

North America is expected to have a significant share in the market over the forecast period owing to the growth of technology in the pharmaceutical sector that helps in new drug developments, increasing product launches, the rising burden of central nervous system diseases, and the rising level of research and developments in the countries like the United States and Canada.

According to the Alzheimer's Disease Facts and Figures 2023 published by Alzheimer's Association, an estimated 6.7 million Americans age 65 and older will be living with Alzheimer's dementia in 2023, and the number is expected to increase due to the rising geriatric population in the region. Similarly, the high prevalence of CNS diseases increases the demand for therapeutics. For instance, in a Statistics Canada study published in 2021, about one in five Canadians aged 12 and older said they required some help with their mental health. Furthermore, the prevalence of neurological diseases is expanding, which boosts funding and support for research projects that develop novel treatments and may increase the market's growth. For instance, in August 2022, the National Multiple Sclerosis Society committed USD 19 million to launch 40 new multi-year research awards to drive progress toward stopping multiple sclerosis. Hence, the latest initiative in the region is expected to grow the market over the forecast period.

Furthermore, the new developments and acceptance of regulatory approval for various products likely increase the widespread applications and are expected to grow significantly in the market. For instance, in August 2022, Paladin Labs Inc received acceptance from Health Canada for a New Drug Submission (NDS) application for carbamate as an adjunctive therapy for the management of partial-onset seizures in adults with epilepsy who are not satisfactorily controlled with conventional treatment.

Thus, the rising CNS disease burden, new research funding for product development, and increasing regulatory approvals in the region increase the demand for various CNS drugs and are expected to boost the market over the forecast period.

Central Nervous System Therapeutics Industry Overview

The central nervous system therapeutics market is highly competitive, with several market players. However, the need for innovation in the treatment and drug delivery system, clinical trials, and strategic collaboration is likely to help companies maintain their market position. Some of the key companies in the market are Biogen Inc, Eli Lilly and Company, Novartis AG, Johnson & Johnson, Pfizer Inc., and GSK plc, among others.

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