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Central Nervous System Disorder Drugs Market Latest Trends and Forecast Analysis Upto 2024
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The market for CNS disorders is categorized into three segments namely psychiatry, neurology and pain drugs market. Psychiatry drugs market is further segmented into anxiety, depression, bipolar disorders, schizophrenia and ADHD (attention deficit hyperactivity disorder). Neurology drugs market is divided into migraine, epilepsy, Parkinson’s disease, multiple sclerosis, narcolepsy and and Alzheimer’s disease. Pain management drugs market segment comprises of drugs used to treat pain associated with CNS disorders. Among these psychiatry segment holds the largest share accounting for more than 40% followed by neurology and pain segment.
Rapidly increasing geriatric population base resulting in an elevated incidence levels of CNS disorders such as Alzheimer’s disease, Parkinson’s disease, schizophrenia and multiple disorders is one of the key factors driving the growth of the market for CNS disorders.. Currently, there is no drug to cure Alzheimer’s disease, the available medicines only treat the severity of symptoms and improve the quality of life to some extent.
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That is why companies such as Eli Lilly, Baxter International and Novartis AG are investing heavily in research and development in order to accelerate the treatment of Alzheimer’s disease. Geographically, North America holds the largest share of the total market of CNS disorders followed by Europe and Asia-Pacific. Asia-Pacific is projected to grow at a CAGR more than other regions on account of high prevalence of diseases such as epilepsy, Parkinson’s disease and Alzheimer’s disease. As of 2012, WHO (world health organization) suggests that around 50 million people are suffering from epilepsy worldwide, most of them (approximately 80%) belong to developing nations.
Some of the key players operating in the market for CNS disorders are Pfizer, Johnson & Johnson, GlaxoSmithKline, Novartis AG, Sanofi, Merck & Co., Abbott Laboratories, Eli Lilly, UCB, Bristol-Meyers Squibb Co. and Astellas Pharma, Inc.
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