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Generic Central Nervous System Drugs Market 2024 Share Analysis, Strategies, Key Players And Forecast 2033
Generic Central Nervous System Drugs Market
The Business Research Company presents an extensive market research report on the Generic Central Nervous System Drugs Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The generic central nervous system drugs market size has grown strongly in recent years. It will grow from $83.71 billion in 2023 to $89.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to from increasing number of surgeries, strong growth in emerging markets, and increase in pharmaceutical r&d, geriatric population and increased healthcare expenditure.
The generic central nervous system drugs market size is expected to see strong growth in the next few years. It will grow to $117.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to growing government initiatives for mental health awareness, rise in healthcare expenditure, increasing geriatric population and strong pipeline of drugs. Major trends in the forecast period include invest in wearable technology, biomarkers in cns development, modify existing drugs, invest in drug pipeline, use of 3d printing for drug manufacturing and focus on establishing collaborations with research institutions and established companies. player-adopted strategies in the central nervous system drugs market includes acquiring emerging technological companies, expanding brand portfolios through new product launches and expanding business operations in other regions.
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Key Market Players:
Major companies operating in the generic central nervous system drugs market report are Biogen Inc., Johnson & Johnson, Hoffmann-La Roche Ltd, Novartis AG, UCB, Sanofi, Pfizer Inc., Merck KGaA, Sumitomo Dainippon Pharma, AbbVie, Recipharm AB, Neuraxpharm, Sun Pharmaceutical limited, Ranbaxy Laboratories, Merz Pharma GmbH & Co. KGaAare, AstraZeneca, Apotex, Gilead Sciences, Bayer, GlaxoSmithKline, Amgen, Abbott Laboratories, Janssen Pharmaceutica, Teva Canada, Accord Healthcare Inc., Acerus Pharmaceuticals Corporation, Amgen, EMS Pharma, Hypermarcas, Eurofarma, Teuto Brasileiro, Biolab Farmaceutica, Cristalia, União Quimica, Boehringer Ingelheim, Eli Lilly and Company, Adcock Ingram
Market Drivers:
The increasing incidence of mental health disorders is expected to propel the growth of the generic central nervous system (CNS) drug market going forward. A mental health disorder is a clinically substantial impairment in a person's cognition, emotional regulation, or conduct. It is usually linked to distress or functional impairment in key areas. Generic central nervous system (CNS) drugs play a crucial role in the management of mental health disorders by providing affordable and accessible treatment options. For instance, in November 2022, according to the Health and Social Care Information Centre, a UK-based federal body that offers content, data, and computer systems for experts, physicians, and controllers in the social and healthcare sectors, the proportion of 17- to 19-year-olds with a suspected mental disorder grew from 17.4% in 2021 to 25.7% in 2022. Therefore, the increasing incidence of mental health disorders is driving the generic central nervous system (CNS) drug market.
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The generic central nervous system drugs market covered in this report is segmented -
1) By Type: Multiple Sclerosis (MS), Anti-Psychotic, Analgesics, Anti-Parkinson Drugs, Anesthetics, Anti-Epileptics, Anti-Depressants, Other Types
2) By Drug Classification: Branded Drugs, Generic Drugs
3) By Disease: Neurovascular Diseases, CNS Trauma, Mental Health, Neurodegenerative Diseases, Infectious Diseases, CNS Cancer
4) By Route Of Administration: Oral, Intravenous, Intranasal/ Inhalation, Other Route Of Administrations
5) By Mode Of Purchase: Over-the-counter drugs, Prescription-Based Drugs
6) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Other Distribution Channels
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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