Global Central Nervous System Drugs Market Is Expected To Grow To USD 90 Billion
Posted by sainath on July 4th, 2018
The central nervous system drugs market includes medications that are used in the treatment of diseases affecting the brain or spinal cord. The central nervous system (CNS) integrates sensory information and instructs the body to respond accordingly. The spinal cord is a channel for signals between the brain and the rest of the body. Central nervous system (CNS) disorder is a condition in which the brain and spinal cord’s ability to function is affected, hence affecting the body. The market for CNS disorder drugs comprises of drugs that work in different ways depending on the type of disease by suppressing or boosting the brain activities.
The substantial growth of the market from billion in 2017 to around USD 90 billion by 2021 is due to the steps taken by the US FDA (Food and Drug Administration) and EMA (European Medicines Agency) to offer allotment of special regulatory designations for Central Nervous System disorders which will help in the faster entry of drugs into the market for treatment of serious nervous system related conditions. The geriatric population and rise in diseases such as Parkinson’s, Alzheimer’s and other mental disorders is also likely to continue to drive the market for central nervous system drugs.
In the report, the global central nervous system drugs market is divided into five segments. Other CNS drugs occupy the major share, accounting for more than two-fifth of the market. Anaesthetics is the second largest segment, occupying one-fifth of the market share and the remaining two-fifth of the market share is occupied by the other three segments namely, analgesics, anti-parkinson drugs and anti-epileptics.
The USA was the largest country in the central nervous system drugs market in 2017, accounting for more than one-fourth of the market share. This can be attributed to high drug prices and increased healthcare spending in the USA compared to other countries. Germany and China followed the USA as the next largest countries in the market.
The central nervous system drugs market is fragmented with a number of large and small organizations. The top five competitors in the market made up around two-fifth of the total market in 2017. Biogen Inc. was the largest competitor of the market, followed by F. Hoffmann-La Roche Ltd., Johnson & Johnson, Pfizer Inc. and Novartis AG. Biogen Inc. was founded in 1978 and is headquartered in Massachusetts, USA. It is involved in discovering, developing, and selling medical products used to treat neurological disorders such as multiple sclerosis, and inflammatory diseases such as rheumatoid arthritis. Biogen Idec has offices in Australia, the Brazil, Japan, India, and China.
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Joined: June 13th, 2018
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