Central Nervous System Treatment Market Trends to Watch Post-COVID Revenue Situation
The global central nervous system treatment market size is anticipated to reach USD 166.53 billion by 2028 and exhibit a CAGR 0f 9.4% during the forecast period. The increasing geriatric population and the associated neurological disorders are likely to fuel the market growth in the coming years. Fortune Business InsightsTM has presented this information in its report titled “Central Nervous System Treatment Market, 2021-2028”.
The central nervous system treatment
market size stood at USD 81.67 billion in 2020 and is estimated to reach USD
89.02 billion in 2021.
The prospective product launches to treat neurological disorders are expected to boost the market growth during the forecast period. The new product launches are likely to augment treatment access in developing nations, favoring the market growth.
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Key Players Devise Ingenious Strategies to Capture
Growth
The market is fairly consolidated and comprises key players
emphasizing strategic distribution agreements and a robust pipeline to retain
strong market positions. The market comprises Pfizer Inc., Johnson and Johnson
Services Inc., Otsuka Holdings, Novartis AG, and others amongst the top market
players. The key players focus on new product launches, partnerships,
acquisitions, mergers, and others to improve their market positions. For
instance, Biogen announced a deal in January 2020 to acquire a phase 1 stage
modulator of circadian rhythm, i.e., PF-05251749. The product is being
developed to treat neurological symptoms related to disorders including
Alzheimer’s and Parkinson’s disease.
COVID-19 Impact
The rapid spread of the COVID-19 pandemic has stagnated the growth of the central nervous system market globally. The disruptions in the global supply chain networks have affected the market’s growth. A sales drop approximated worth USD 1.4 billion was observed in 2020. However, the market is likely to recover and exhibit stellar growth in 2021 due to the rapid vaccination drives carried out by countries across the world.
Report Coverage
·
It offers valuable insights into the market’s
regulatory scenarios.
·
It assimilates information on the latest
market trends and industry developments.
·
It incorporates SWOT Analysis for precise
prediction.
·
It sheds light on the COVID-19 pandemic’s
effect on the market.
· It highlights strategies adopted by key players to acquire growth.
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To Our Analyst:
Drivers & Restraints
Rising Prevalence of Neurological
Disorders to Propel Market Growth
The increasing prevalence of
neurological disorders, including Parkinson’s Alzheimer’s, multiple sclerosis,
and others, coupled with the expanding geriatric population, is anticipated to
boost the global central nervous system treatment market growth. The
Alzheimer’s Association estimates approximately 14 million cases by 2050. This
is anticipated to boost the market growth significantly.
The launch of new prospective products
and pipeline drugs is expected to create lucrative growth opportunities for the
market. The new product launches are likely to augment the access to treatment
in developing nations, thereby fueling the market growth.
Also, the increasing trend of
partnerships, mergers, and acquisitions by key players is projected to bolster
the market’s growth during the forecast period.
However, a strict regulatory framework and time-consuming approval process may hinder market growth.
Competitive Landscape
Key Players Devise Ingenious
Strategies to Capture Growth
The market is fairly consolidated and comprises key players emphasizing strategic distribution agreements and a robust pipeline to retain strong market positions. The market comprises Pfizer Inc., Johnson and Johnson Services Inc., Otsuka Holdings, Novartis AG, and others amongst the top market players. The key players focus on new product launches, partnerships, acquisitions, mergers, and others to improve their market positions. For instance, Biogen announced a deal in January 2020 to acquire a phase 1 stage modulator of circadian rhythm, i.e., PF-05251749. The product is being developed to treat neurological symptoms related to disorders including Alzheimer’s and Parkinson’s disease.
Key Players in the Global Market are:
·
Biogen (Massachusetts, U.S.)
·
Pfizer
Inc. (New York, U.S.)
·
F. Hoffman-La Roche Ltd. (Switzerland)
·
Novartis AG (Basel, Switzerland)
·
Johnson
& Johnson Services, Inc. (New Jersey, U.S.)
·
Teva
Pharmaceutical Industries Ltd. (Israel)
·
Sanofi
(Paris, France)
·
Otsuka
Holdings (Japan)
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