Sales Revenue from CNS Therapeutics Market to Top US$ 142.1 Billion by 2026: Fact.MR Analysis
Fact. MR’s latest report on CNS Therapeutics Market provides a detailed analysis of growth drivers, market restraints, and emerging trends. It also offers insights into various strategies employed by key market players to gain a competitive edge in the CNS Therapeutics Market.
Rockville, March 23, 2023 (GLOBE NEWSWIRE) -- In 2022, the CNS therapeutics market is valued at US$ 116.7 Bn, and is projected to evolve at a CAGR of 4.9% over the 2022 to 2026 forecast period, according to Fact.MR - a market research and competitive intelligence provider.
Increasing focus on healthcare on a global level has influenced the focus on multiple diseases that have risen in incidence in recent times. Awareness of CNS diseases is also growing, thereby driving demand for CNS therapeutics. Other factors that will propel demand for CNS drugs are increasing aging population, rising support from governments, and increasing investments in research and development. However, the high costs of CNS drugs and longer approval times are factors that can hinder CNS therapeutics market growth over the years to come.
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| Details |
Forecast Period | 2022 - 2026 |
Value Projection (2026) | US$ 142.1 Billion |
Growth Rate (2022-2026) | 4.9% CAGR |
No. of Pages | 170 pages |
No. of Tables | 116 Tables |
No. of Figures | 38 Figures |
CNS drug manufacturers are obtaining approvals for their new drugs from several regulatory authorities across the world in order to increase their market presence on a global scale.
In April 2021, Biogen Inc., a leading American biotechnology company, announced that it had won approval for TECFIDERA® (dimethyl fumarate). This is used for the treatment of relapsing multiple sclerosis. This approval came from China’s National Medical Products Administration (NMPA), and helped Biogen expand its presence in China.
Key Takeaways from Market Study
The CNS therapeutics market currently stands at a net worth of US$ 116.7 Bn.
From 2022 to 2026, consumption of CNS therapeutic medications is projected to increase at a CAGR of 4.9%.
By 2026, the CNS therapeutics market is projected to be valued at US$ 142.1 Bn.
Rising prevalence of CNS, changing lifestyle trends, and increasing awareness about CNS diseases are factors that will drive demand for CNS therapeutics.
Longer than usual approval times, high costs, and lack of awareness are anticipated to hamper demand for CNS therapeutics to some extent over the coming years.
The U.S. CNS therapeutics market is predicted to account for a net valuation of US$ 36.1 Bn by the end of 2026.
The CNS therapeutics market in China is projected to expand at a high CAGR of 8% from 2022 to 2026.
“Increasing aging population and rising awareness about CNS diseases are expected to primarily influence CNS therapeutics market growth through 2026,” says a Fact.MR analyst
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Key Companies Profiled in CNS Therapeutics Market report
Allergan Plc.
AbbVie Inc.
Alkermes Plc.
AstraZeneca Plc.
Bristol-Myers Squibb
Eisai Co. Ltd.
Eli Lilly and Co.
Endo Pharmaceuticals Inc.
F. Hoffman-La Roche Ltd.
GlaxoSmithKline Plc.
Winning Strategy
CNS drug manufacturing companies are adopting several organic and inorganic strategies to boost their revenue generation potential over the coming years. CNS drug companies are also expanding their research scope to launch novel treatment drugs in the market.
Increasing support from governments across the world to boost awareness will also favor CNS therapeutics market players and aid them in increasing their sales numbers.
In April 2021, two leading names in the CNS therapeutics market - Otsuka Pharmaceuticals Co. Ltd. and H. Lundbeck A/S - announced the continuation of recruitment of new patients for their phase III clinical trials aimed at the treatment of Alzheimer’s dementia. The clinical trial focuses on the use of brexpiprazole for the treatment of the aforementioned medical condition.
Key Segments Covered in CNS Therapeutics Industry Research
by Segment :
Pain Management CNS Therapeutics
Anti-psychotics
Anti-depressants
Anti-epilepsy
Anti-Alzheimer’s
Anti-Parkinson’s
Other Segments
by Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global CNS therapeutics market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2026.
The study divulges essential insights on the market on the basis of segment (pain management, anti-psychotics, anti-depressants, anti-epilepsy, anti-Alzheimer’s, anti-Parkinson’s, other segments), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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