According to Grand View Research, Inc., the worldwide central nervous system (CNS) therapeutic market is set to attain USD 128.9 billion by 2025 due to occurrence of CNS diseases associated with an inactive lifestyle. Central nervous system (CNS) therapeutics can help in the treatment of several neurological diseases, trauma and chronic pain, and neurodegenerative disorders such as Alzheimer’s disease, multiple sclerosis, Parkinson’s disease, and CNS cancers.
In October 2017, Neos Therapeutics, Inc. announced the launch of “Cotempla XR-ODTTM” in the US, which is reportedly the first and only methylphenidate extended-release orally disintegrating tablet. This tablet can be used for treating Attention Deficit Hyperactivity Disorder (ADHD) in patients between the ages of 6 and 17.
In March 2017, Infuseon Therapeutics’ innovative central nervous system delivery device, “Cleveland Multiport CatheterTM (CMC)”, received approval from the US FDA as a therapeutic delivery device. It is a convection-enhanced delivery catheter with multiple ports that allows provision of therapeutics to the affected area in patients. CMC comprises four self-regulating delivery microcatheters. The device was approved for delivery of chemotherapy to the ventricles of the brain. This clearance is crucial for developers of drugs and biologics that can be directly delivered to the CNS as drug makers are expected to use FDA-approved catheters in IND-based clinical trials.
Increasing occurrence of mental illnesses and growing awareness about psychiatric disorders can propel the market over the forecast period (2016 to 2025). Other factors such as growing geriatric population, increasing incidence of lifestyle-associated CNS disorders, and social acceptance of mentally-ill patients can boost market demand. Rising awareness regarding neurodegenerative diseases due to increasing efforts from government and nongovernment organizations can also have a positive impact on the market.
In 2016, the mental health segment led the market and is expected to continue this trend over the forecast period. In the same year, North America accounted for the largest market share due to growing number of cases of depression and greater acceptance of advanced therapeutics. Asia Pacific is estimated to display the highest growth owing to increasing incidences of neurodegenerative diseases.
Key companies operating in the market include Pfizer, Inc.; Johnson & Johnson Services, Inc.; Novartis AG; and Eli Lilly and Company.
In-Depth Research Report On Central Nervous System (CNS) Therapeutic Market:
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