Selbyville, Delaware, Aug. 20, 2023 (GLOBE NEWSWIRE) --
Central Nervous System Therapeutics Market size is expected to be worth USD 238.8 billion by 2032. The growing investments in R&D activities for innovative solutions is projected to drive the industry progress. The increasing prevalence of central nervous system (CNS) disorders has spurred the higher need for effective therapeutics.
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Lately, several pharmaceutical companies, research institutions, and governments are investing heavily in R&D activities to develop novel CNS therapies. These investments are aimed at discovering new drug targets, advancing drug delivery technologies, and exploring the potential of precision medicine approaches. Furthermore, the growing understanding of CNS diseases at molecular level coupled with the rising advancements in neuroscience and genetics.
Neurovascular diseases to record significant prominence
Central nervous system therapeutics market development can be attributed to the increasing prevalence of neurovascular diseases, such as ischemic stroke, hemorrhagic stroke, and aneurysms and their significant health risks, requiring specialized therapeutic interventions. Rising advancements in imaging technologies, minimally invasive procedures, and neuro-interventional techniques have also expanded the treatment options for improving the patient outcomes. The surging focus on early diagnosis, prompt treatment, and improved accessibility to neurovascular therapies will fuel the segment development.
Immunomodulatory drug segment to witness high demand
Central nervous system therapeutics market from the immunomodulatory drug segment is set to foresee notable traction through 2032. Immunomodulatory drugs play crucial role in the treatment of CNS disorders characterized by immune system dysregulation, such as multiple sclerosis, neuromyelitis optica, and autoimmune encephalitis. These drugs modulate the immune response for reducing inflammation and preventing further damages. The increasing prevalence of CNS autoimmune disorders, advancements in drug development, and the growing understanding of immune-mediated mechanisms will also surge the demand for immunomodulatory drugs.
Europe to emerge as a pivotal business destination
Europe central nervous system therapeutics market held sizable share of the global industry in 2022 and is set to depict lucrative gains from 2023-2032. This can be attributed to the presence of advanced healthcare infrastructure and well-established pharmaceutical industry along with the strong focus on R&D activities. The prevalence of several CNS disorders, such as Alzheimer's disease, Parkinson's disease, and multiple sclerosis is increasing in Europe due to the aging population. Additionally, rise in favorable government policies, robust reimbursement systems, and increased awareness among healthcare professionals as well as patients.
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Central Nervous System Therapeutics Market Participants
Some of the leading players operating in the central industry are Shire PLC, Pfizer Inc., Otsuka Pharmaceutical Co., Ltd., Novartis AG, Teva Pharmaceutical Industries Ltd., Johnson & Johnson Services, Inc., and Astra Zeneca. These companies are focused on partnership ventures for increased revenue sales. For instance, in January 2023, Biogen Inc. and Alcyone Therapeutics (Alcyone) collaborated to license the latter’s ThecaFlex DRxTM System, an implanted medical device designed for subcutaneous administration of antisense oligonucleotide treatments into the intrathecal space.
Partial Table of Contents (ToC) of the report:
Chapter 3 Central Nervous System Therapeutics Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing prevalence of CNS disorders
3.2.1.2 Technological advancements in drug development
3.2.1.3 Growing geriatric population
3.2.1.4 Increasing healthcare expenditure
3.2.1.5 Growing investments in R&D
3.2.1.6 Incrasing awareness about CNS disorders
3.2.2 Industry pitfalls & challenges
3.2.2.1 Adverse drug reactions and safety concerns
3.2.2.2 Stringent regulatory requirements
3.2.2.3 High development costs
3.3 Growth potential analysis
3.3.1 By disease
3.3.2 By drug type
3.3.3 By distribution channel
3.4 COVID- 19 impact analysis
3.5 Porter's analysis
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Competitive analysis of major market players, 2022
4.4 Competitive positioning matrix, 2022
4.5 Strategy dashboard, 2022
4.6 Strategic outlook matrix, 2022
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