Central Nervous System Therapeutics Market Size

Central Nervous System Therapeutics Market Analysis

The Global Central Nervous System Therapeutics Market size is expected to grow from USD 112,884.87 million in 2023 to USD 151,208.00 million by 2028, at a CAGR of 6.02% during the forecast period.

COVID-19 cases worldwide profoundly impacted the CNS therapeutics market as lockdown restrictions created few mental disturbances in people. For instance, according to a research brief published by the WHO in March 2022, anxiety and sadness surged dramatically worldwide by 25% in the first year of the COVID-19 pandemic. The increase in the prevalence of mental health problems coincided with severe disruptions to mental health services, leaving huge gaps in care and adversely impacting the studied market during the pandemic. Further, as per the source mentioned above, by the end of 2021, things will have somewhat improved, but still, far too many people are unable to get the care and support they need for both current and newly developed mental health illnesses, thereby adversely impacting the market over the post-pandemic period.

An increase in the number of patients suffering from central nervous system (CNS) diseases such as mental health and neurodegenerative diseases and other CNS diseases increases the usage of CNS therapeutics which is expected to drive the market's growth. For instance, according to the March 2023 World Health Organization (WHO) report, more than 55 million people have dementia worldwide, and nearly 10 million new cases are reported yearly. As per the same source, Alzheimer's is the most common form of dementia and constitutes about 60-70% of the total cases of dementia. Similarly, as per the report published by Ridgecrest Regional Hospital in May 2022, one billion people globally, or 12% of the world's population, suffer from migraines. In addition, there is a massive demand for CNS therapeutics, and government and non-government entities are raising funds to support the authorization of CNS therapeutics, which is expected to fuel the growth in the market. For instance, in May 2022, Minoryx raised USD 55.4 USD million (EUR 51 million) to support marketing authorization applications and launch preparations for X-linked Adrenoleukodystrophy (X-ALD) therapy for orphan central nervous system (CNS) disorders. Hence, the high prevalence of CNS diseases likely increases the demand for therapeutics and new developments, which are expected to boost growth in the studied market.

The development of novel drug delivery systems is expected to increase the usage of various neurological drugs through these systems, which will likely propel the market to grow. For instance, in January 2023, Spark Therapeutics and Neurochase entered a strategic collaboration to develop Neurochase's proprietary delivery technology for use with selected gene therapies for rare diseases in CNS. Through this collaboration, Neurochase will bring its deep direct drug delivery technology expertise to Spark's leading AAV platform, which is expected to grow significantly in the studied market over the forecast period.

Therefore, the high burden of CNS diseases, increasing demand for CNS therapeutics, and the development of novel drug delivery systems likely increase the need for the market products and are expected to boost the market over the forecast period. However, high research and development expenditure in developing CNS therapeutics and adverse reactions associated with them are expected to restrain the growth of the studied market over the forecast period.