What Is The Central Nervous System (CNS) Drugs Market Overview In 2022?
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The central nervous system (CNS) drugs market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 10%, as per The Business Research Company’s market report!
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The Central Nervous System (CNS) Drugs Market Size In 2022 And Forecast
The global central nervous system (CNS) drugs market is expected to grow from $169.11 billion in 2021 to $178.70 billion in 2022 at a compound annual growth rate (CAGR) of 5.7%. The growth in the CNS drugs market 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 central nervous system drugs market is expected to reach $264.97 billion in 2026 at a CAGR of 10.3%.
The central nervous system (CNS) drugs market consists of sales of central nervous system drugs and related services by entities (organizations, sole traders and partnerships) that manufacture central nervous system drugs that are used in the treatment of diseases affecting the brain or spinal cord.
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Rapid Growth In Emerging Markets Is Driving The Growth Of The Central Nervous System (CNS) Drugs Market
For instance, according to the IMF, China’s GDP growth rate was 2.3% in 2020., according to the World Economic Outlook Reports by the IMF, the global growth is 6% in 2021 and expected to be 4.4% in 2022. Thus, strong economic growth will boost the demand for central nervous system drugs and this will drive the market during the forecast period.
Competitive Landscape And The Regional Analysis Of The Central Nervous System (CNS) Drugs Market
Major players in the central nervous system (CNS) drugs market are Biogen Inc, Johnson & Johnson, Novartis AG, UCB S.A., Takeda Pharmaceuticals, AbbVie, Teva Pharmaceuticals, GlaxosmithKline, Daiichi Sankyo Company and H Lundbeck.
Additionally, as per TBRC’s research – North America was the largest region in the central nervous system (CNS) drugs market in 2021 holding the largest market share and The Middle East is expected to be the fastest-growing region in the forecast period.
The Central Nervous System (CNS) Drugs Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the central nervous system (CNS) drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the central nervous system (CNS) drugs market.
Strategic Collaborations – A Key Trend In The Central Nervous System (CNS) Drugs Market
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.
Central Nervous System (CNS) Drugs Market Segmentation By The Business Research Company
1) By Type: Analgesics, Anti-Parkinson Drugs, Anesthetics, Anti-Epileptics, Other CNS Drugs
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others
3) By Route of Administration: Oral, Parenteral, Others
4) By Drug Classification: Branded Drugs, Generic Drugs
5) By Mode of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs
Here Are Some Reports Related To The Central Nervous System (CNS) Drugs Market –
Analgesics Global Market Report 2021
Anti-Parkinson Drugs Global Market Report 2022
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