The Business Research Company’s Central Nervous System Drugs Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, July 9, 2021 /EINPresswire.com/ — Many central nervous system drug manufacturers are collaborating with other manufacturers in the industry to share technical knowledge and improve product quality. These agreements are helping anti-epileptics drugs manufacturers broaden their products and services. For instance, in January 2017, Japan’s Takeda Pharmaceuticals collaborated with New York-based biotech company Ovid Therapeutics to develop TAK-935, a drug for the treatment of rare epilepsy disorders in children. Also, Israel based D-Pharm LTD. and China based Jiangsu NHWA Pharmaceutical Co. Ltd. are co-developing DP-VPA, an anti-epileptic drug. In October 2016, UCB Pharmaceuticals signed a partnership agreement with Evotec for the research and development of drugs for nervous disorders such as epilepsy, Parkinson’s, and Alzheimer’s diseases.
The major players covered in the global central nervous system drugs market are Biogen Inc, F. Hoffmann-La Roche Ltd, Johnson & Johnson, Pfizer Inc, Novartis AG.
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The global central nervous system drugs market is expected to grow from $125.28 billion in 2020 to $126.89 billion in 2021 at a compound annual growth rate (CAGR) of 1.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $163.05 billion in 2025 at a CAGR of 6%.
North America is the largest region in the global CNS pharmaceuticals market, accounting for 48% of the market in 2020. Asia Pacific is the second largest region, accounting for 22% of the global CNS drugs market. Africa was the smallest region in the CNS therapeutics market.
The global central nervous system drugs market is segmented by type into analgesics, anti-parkinson drugs, anesthetics, anti-epileptics, other CNS drugs, by distribution channel into hospital pharmacies, retail pharmacies/ drug stores, others, by route of administration into oral, parenteral, others, by drug classification into branded drugs, generic drugs, by mode of purchase into prescription-based drugs, over-the-counter drugs.
Central Nervous System Drugs Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides central nervous system drugs market overview, forecast central nervous system drugs market size and growth for the whole market, central nervous system drugs market segments, and geographies, central nervous system drugs market trends, central nervous system drugs market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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