Central Nervous Disorders Therapeutics Market Expected to Reach $232.29 Billion by 2030

According to a new report published by Allied Market Research, titled, “central nervous disorders therapeutics market by disease, by distribution channel, and by age group: opportunity analysis and industry forecast, 2021–2030,” the central nervous disorders therapeutics market was valued at $117.55 million in 2020, and is projected to reach $232.29 million by 2030, registering a CAGR of 7.3% from 2021 to 2030.

Dementia is one of central nervous system disorders and is a general term for a group of brain disorders that increase with age and cause memory loss, intellectual defects, behavioral disturbances, and other signs of mental deterioration. In addition, rate of serious psychological distress among adolescents and young adults has been on the rise since past few years, which further fuels demand for CNS disorder treatment across the globe.

However, high treatment cost of central nervous system disorder treatment hampers the market growth, mostly in developing countries such as large Asian populations, has resulted in a significant increase in geriatric population and CNS disorders including strokes, Alzheimer's disease, and Parkinson's disease. Moreover, rise in prevalence of CNS disorders and presence of strong pipeline drugs are the major drivers of this market. On the contrary, introduction of a novel drug delivery systems in CNS is expected to provide immense opportunities for the pharmaceutical industry.

Rapid increase in neurovascular diseases, degenerative diseases, infectious diseases, and mental health are the major factors that drive the growth of the global central nervous disorders therapeutics market. Lifestyle habits such as alcohol consumption, foods high in trans fats, highly processed foods and less sleep are the components of lifestyle choices that may impact brain health. For instance, some serious conditions, diseases, and injuries that can cause nervous system problems includes, blood supply problems (vascular disorders), Injuries (trauma), especially injuries to the head and spinal cord. The other lifestyle factors affecting the CNS disorders are stress, nutrition, and others. Rise in prevalence of CNS disorders due to lifestyle changes but also due to various diseases. According to Pan American Health Organization, data published in 2020, it states disability due to CNS disorder, 8.2 million Years lived with disability (YLDs), 3.1 million YLLs in men, and 5.1 million. Hence, the increase disorder of CNS in the near future is anticipated to augment the growth of the market. However, high treatment cost of central nervous system disorder treatment is hampering the market growth.

Furthermore, rise in R&D activities for introduction of novel drugs and advancements in diagnostics technologies to develop superior drug delivery system are anticipated to propel the market for central nervous system disorder treatment. Moreover, upcoming pipeline treatment for CNS disorders by healthcare industries projected to accelerate growth of the market. In addition, various other key players in the central nervous disorders therapeutics market are heavily investing to bring suitable treatment in the market, which provides remunerative opportunities for market expansion.

By disease, the degenerative disease segment accounted for the largest share in the central nervous disorders therapeutics market in 2020, In addition, this segment is expected to maintain its position during the forecast period.

By distribution channel, the hospital-based pharmacies segment accounted for a major share of the market share in the central nervous disorders therapeutics market in 2020. This segment is expected to exhibit a prominent growth rate, owing to rapid increase of central nervous system disorder rate in geriatric population, technological advancements, and lifestyle change.

By age group, the geriatric age group segment contributed to a large share in 2020, which was accounted for three-fifths of the total market share. In addition, this segment is expected to maintain its position during the forecast period.

By region, North America dominated the market for central nervous system disorder treatment and held the largest revenue share in 2020, highest growth rate majorly due to changing lifestyle conditions, increasing geriatric population, and increasing cases of central nervous system disorder.

Key Findings Of The Study

• By disease, the mental health segment showed a growth of 7.9% in the central nervous disorders therapeutics market in 2020.
• By distribution channel, the retail pharmacies segment exhibits the fastest growth and is expected to grow at a CAGR of 7.4% from 2021 to 2030.
• By age group, the adult age group segment held the largest market share in 2020 and is expected to remain dominant throughout the forecast period.
• By region, North America expected to experience a growth at the highest rate, registering a CAGR of 6.5% during the forecast period.