Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Central nervous system (CNS) disorders comprises of a group of neurological disorders that hamper the function of brain and spinal cord. Brain acts as the memory and control unit of the human body while spinal cord is responsible for conduction of sensory signals received from the peripheral nervous system to the motor junctions of the body such as skeletal muscles, smooth muscles, cardiac muscles, and glands. Few of the commonly occurring CNS disorders include stroke, subdural hemorrhage, epidural abscess, meningitis, epilepsy, multiple sclerosis, Huntington chorea, Alzheimer disease, transient ischemic attack, brain or spinal cord tumors, and others. For instance, according to the Alzheimer’s disease fact and figures report 2021, it is estimated that about 6.2 million people in the U.S. falling in the age group 65 and older are currently living with Alzheimer associated dementia in 2021. This report states that the prevalence of CNS disorders such as Alzheimer’s dementia increases with age and it also estimates that the geriatric population is expected to increase to 88 million by 2050.
Global Central Nervous System Disorders Therapeutics Market - Impact of the Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19, as pandemic on March 11, 2020.
According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 186,240,393 cases and 4,027,861 deaths due to Coronavirus (COVID-19) were reported till July 11, 2021, across the globe.
Impact of COVID-19 on Demand and Supply of Central Nervous System Disorders Therapeutics
The COVID-19 pandemic and the lockdown in various countries across the globe has impacted the financial status of businesses across all sectors. Pharmaceutical industry is one such sector which has been majorly impacted by the pandemic.
The COVID-19 pandemic has impacted the entire supply chain of the pharmaceutical industry mainly due to strict lockdown in several regions. However, the demand for central nervous system therapeutics is expected to increase during the pandemic due to association of neurological conditions with COVID-19 infection.
For instance, according to an article published by Alzheimer's Research & Therapy journal in June 2021, a study by Cleveland Clinic, revealed a close relationship between Coronavirus genes and Alzheimer’s disease. The study showed that SARS-CoV-2 infection led to several pathways related to neuroinflammation and brain microvascular injury, which may lead to cognitive impairment as well. Thus, impact of the Coronavirus (COVID-19) pandemic is expected to fuel the growth of the global central nervous system disorders therapeutics market during the forecast period, owing to rising neurological disorders as a result of COVID-19 infection during the pandemic.
The global central nervous system disorders therapeutics market is estimated to be valued at US$ 131.3 Mn in 2021, and is expected to exhibit a CAGR of 6.4% over the forecast period (2021-2028).
Central Nervous System Disorders Therapeutics Market Report Coverage
||Market Size in 2021:
||US$ 131.3 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 202.7 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Disease Type: Neurovascular Diseases, Trauma, Mental Health (Anxiety Disorders, Epilepsy, Others), Degenerative Diseases (Alzheimer's Disease, Parkinson's Disease, Multiple Sclerosis, Others), Infectious Diseases, Central Nervous System Cancer, Others
- By Drug Type: Analgesics, Anesthetics, Anti-Parkinson Drugs, Anti-Epileptics, Others
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Others
Pfizer Inc., Biogen, Otsuka Pharmaceutical Co. Ltd., Merck & Co., AstraZeneca, Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Novartis AG, Johnson & Johnson Private Limited, Eli Lilly and Company, Sanofi, GlaxoSmithKline plc., and Boehringer Ingelheim International GmbH
- Increasing prevalence of central nervous system disorders
- Increasing research and development activities by market players
- Increasing product launches and approvals
|Restraints & Challenges:
- Time consuming drug development and approval
- Adverse effects associated with CNS disorder treatment
Figure 1: Global Central Nervous System Disorders Therapeutics Market Share (%) Analysis, By Drug Type, 2021
The increasing prevalence of CNS disorders is the major factor that is expected to drive the market growth over the forecast period.
The rising number of CNS disorders cases such as Alzheimer’s disease, Parkinson disease, epilepsy, meningitis, and others is expected to drive growth of global central nervous system disorders therapeutics market over the forecast period. For instance, according to MedScape, in 2019, the global prevalence of Parkinson’s disease was estimated to be 18-328 cases per 100,000 population per year. Moreover, according to the World health organization (WHO) report 2020, about 50 million people around the world were suffering from dementia in 2019. The same source reveals that approximately 10 million new cases of dementia are reported every year, out of which most of the cases are associated with Alzheimer’s disease.
Moreover, increasing number of research and development activities for improving the effectiveness of central nervous system disorders therapeutics is expected to aid in the growth of the market over the forecast period. For instance, in February 2021, Cerevel Therapeutics, LLC, a U.S. based pharmaceutical company initiated phase III clinical trials for its drug Tavapadon which is used to treat Parkinson’s disease. This study is expected to be completed by December 2024.
The rising number of product launches and approvals is expected to drive the growth of the global central nervous system disorders therapeutics market over the forecast period. For instance, in March 2019, Novartis AG, a Swiss pharmaceutical company received the U.S. Food and Drug Administration (FDA) approval for its drug Mayzent used for treatment of multiple sclerosis.
Global Central Nervous System Disorders Therapeutics Market – Restraints
However, growth of the global central nervous system disorders therapeutics market may be hampered, owing to adverse effects associated with CNS disorder drugs and time consuming drug development and approval process. For instance, according to data provided by the Tufts Center for the Study of Drug Development in 2018, new drug development for central nervous system disorders is estimated to be 20% more time consuming than other drugs. Moreover, the same source states that it takes approximately 38% longer time for approval of CNS disorder drugs than other non-CNS drugs.
Global Central Nervous System Disorders Therapeutics Market – Regional Analysis
On the basis of region, the global central nervous system disorders therapeutics market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global central nervous system disorders therapeutics market over the forecast period, owing to growing investment in CNS disorder therapeutics by the U.S. government. For instance, according to Canada.ca, the official website of the Government of Canada, in 2019, the Canadian Institutes of Health Research invested approximately US$ 200 million for research activities related to dementia and has planned to invest around US$ 31.6 million between 2019 to 2024 in order to boost research and development in the field of neurological disorders such as CNS disorders.
Key players are focused on business strategies such as partnerships and collaborations which are expected to drive growth of the market in North America. For instance, in January 2021, Atalanta Therapeutics, a U.S. based biotechnology company entered into a collaboration with Biogen, a U.S. based biotechnology company and Genentech, a U.S. based biotechnology corporation to co-develop RNAi therapeutics for treatment of neurodegenerative CNS disorders such as Huntington’s disease, Alzheimer’s disease, and Parkinson’s disease.
Figure 2: Global Central Nervous System Disorders Therapeutics Market Value (US$ Mn), by Region, 2021
Global Central Nervous System Disorders Therapeutics Market – Competitive Landscape
Major players operating in the global central nervous system disorders therapeutics market include Pfizer Inc., Biogen, Otsuka Pharmaceutical Co. Ltd., Merck & Co., AstraZeneca, Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Novartis AG, Johnson & Johnson Private Limited, Eli Lilly and Company, Sanofi, GlaxoSmithKline plc., and Boehringer Ingelheim International GmbH