The global market for CNS Therapeutics is projected to reach US$137.7 billion by 2025, driven by the urgent need to address the unmet medical needs of neurological disorders. Diseases of the brain and mind range from epilepsy, stroke, migraine, Alzheimer's, Parkinson's, dementia, multiple sclerosis, brain injuries, neuroinfections, schizophrenia, psychosis and other mental disorders. With unmet needs continuing to persist, societal and healthcare burden continues to increase. Stroke and infections such as meningitis and encephalitis continue to be the leading cause of disability worldwide, pushing up the cost of nursing care, hospice and bringing down quality of life. The unmet needs are evident in all phases of drug development i.e. identification of therapeutic targets; optimization of lead compounds; gaps in toxicity and pharmacokinetics studies; and slow resolution of ethical issues, among others. The need of the hour is innovation in developing more potent drugs and therapies. One of the reasons for the slower development of safe and effective drugs for neurology is the fact that the human brain is one of the most complex and highly organized organs in the universe. The brain is a highly sophisticated piece of organic system perfected over millions of years of evolution. Scientists continue to struggle to fathom the complex interaction of chemicals and neurons in the brain. Investments in drug development in neurology is risky since certain diseases like neuropsychiatric diseases are difficult to target, are poorly defined, cannot be easily assayed, and pose challenges in efficiently validating clinical efficiency of drugs during clinical trials as most diseases progress slowly and develop over the years.
Strong opportunities for CNS focussed drugs therefore exists and compounding this need is the rapidly aging population and a parallel rise in Parkinson's, Alzheimer's, pain manifestations, cerebrovascular disorders, stroke, seizures, cognitive and memory disorders. The scenario has created a healthy global pipeline of late stage drugs and the market is expected to benefit from rising acceptance of new therapies and new classes of drugs; increased demand for combination therapies; growing use of generics; and launch of new Alzheimer's drugs including anti-amyloid proteins, cholinergic and nicotine receptor agonists, neuro protective drugs, vaccines and GABA receptor modulators. Better understanding of the electrochemical processes of the brain and development of disease-modifying therapies is driving growth in the antiepileptic drugs market. Combination CNS Therapies are especially gaining prominence for their ability to target multiple pathologic processes simultaneously. Volume of CNS prescriptions for chronic pain and psychiatric disorders will grow in the coming years as the burden of mental illnesses intensifies as a result of lifestyle and societal changes and physiological stress. The growing focus on healthcare cost containment and rationalization and legislation of policies that encourage physician prescription of generic drugs will encourage sales of generic CNS medications. A key trend in the market is pharma companies' efforts to restrategize CNS drug development, which still continues to cost significantly higher than development costs in other therapeutic areas. Increased use of contract research organization services; and predictive planning to prevent late stage drug failure are few of the strategies adopted to infuse vigor in the CNS drug development space. The United States and Europe represent large markets worldwide with a combined share of 70% of the market. China ranks as the fastest growing market with a CAGR of 7.3% over the analysis period supported by factors such as changing social structures and increased risk of developing psychiatric disorders such as schizophrenia, sleep disorders, depression and anxiety; growing literacy rates, improved awareness and gradual reduction in the stigma associated with neurological disorders; and government policy led development of healthcare delivery systems.
Competitors identified in this market include, among others, Alkermes Plc., Allergan Plc., AstraZeneca Plc., Bristol-Myers Squibb, Eli Lilly and Co., F. Hoffmann-La Roche Ltd., GlaxoSmithKline, H. Lundbeck A/S, Johnson & Johnson, Janssen Pharmaceuticals Inc., Merck & Co. Inc., Neurocrine Biosciences Inc., Novartis AG, Otsuka Pharmaceutical Co. Ltd., Pfizer Inc., Sanofi, Sunovion Pharmaceuticals Inc.,Takeda Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., UCB S.A.