CNS Therapeutics Market: Introduction
- Central nervous system (CNS) is an integral part of the nervous system that comprises brain and spinal cord. The primary function of CNS is to integrate the information received, and help in coordination of and controlling body activities.
- Diseases, such as autoimmune and inflammatory disorders, genetic disorders, cancers, and neurodegenerative diseases, affect the functionality of the spinal cord
- CNS therapeutic drugs are used for the treatment of these disorders
Key Drivers of Global CNS Therapeutics Market
- The global CNS therapeutics market is likely to be driven by the rise in ageing population, high prevalence of these disorders, and growth in the awareness about CNS therapeutics diseases. According to the National Institute on Aging, almost 524 million individuals, approximately 8% of the global population, were above the age of 65 in 2010. This number is expected to reach 1.5 billion, which is almost 16% of the global population, by 2050. The rate of incidence of CNS diseases increases with advancing age.
- Governments as well as non-government organizations across the globe are taking various initiatives to raise awareness about CNS disorders. Organizations are also raising funds to support clinical research & development for better treatment of the disease. For instance, April 11 is observed as World Parkinson's Day every year.
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- Unmet needs for the treatment of CNS disease are high. In order to fuel research and clinical developments in these disorders, governments, non-profit organizations, and pharmaceutical and biotechnology companies across the globe have allocated and increased their research funding budget over a period of time. This factor is expected to fuel the market growth during the forecast period.
- CNS therapeutics can be regarded as most important. There has been market growth with the introduction of various therapies due to novel mechanism of action, such as serotonin and norepinephrine reuptake inhibitors (SNRIs).
- Patent expiry of drugs, however, is likely to affect the overall market growth during the forecast period
North America to Hold Major Share of Global CNS Therapeutics Market
- North America is projected to lead the market for CNS therapeutics during the forecast period. Factors, such as high number of reported cases of depression and anxiety as well as adoption of advanced therapeutics, are expected to fuel market growth.
- Awareness campaigns and conferences about identification and treatment of CNS diseases, which include mental diseases, are being organized by leading pharma companies and/or rehabilitation centers. This factor is expected to propel the number of patients opting for early diagnosis.
- CNS therapeutics market in Asia Pacific is anticipated to witness significant growth due to high rate of prevalence of neurodegenerative disorders, rise in awareness regarding mental health, and improvements in healthcare facilities. In developing countries, such as India and China, a large number of non-government organizations are offering cost-effective treatments to people with Alzheimer’s and Parkinson’s disease. This factor is anticipated to propel the demand for CNS drugs in the region during the forecast period.
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Key Players Operating in Global Market
Major players operating in the global CNS therapeutics market are
- Pfizer, Inc.
- Eli Lilly and Company, Inc.
- Biogen, Inc.
- GlaxoSmithKline plc
- Otsuka Pharmaceutical Co., Ltd.
- Johnson & Johnson Services, Inc.
- Merck & Co., Inc.
- Novartis AG
Global CNS Therapeutics Market: Research Scope
Global CNS Therapeutics Market, by Disease Type
- Infectious Diseases
- Autoimmune & Inflammatory Disorders
- Genetic Disorders
- Psychiatric Disorders
- Anxiety Disorders
- Substance Abuse
- Mood Disorders
Global CNS Therapeutics Market, by Application
- Home Care
Global CNS Therapeutics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.