How Will The Generic Central Nervous System Drugs Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s generic central nervous system drugs market report forecasts the generic central nervous system drugs market size to grow to $103.95 Billion by 2027, with a CAGR (compound annual growth rate) of 6%.
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Generic Central Nervous System Drugs Market Size Forecast
The global generic central nervous system drugs market is expected to grow from $77.47 billion in 2022 to $82.45 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global generic central nervous system drugs market size is expected to grow to $103.95 billion in 2027 at a CAGR of 6.0%.
North America held the largest generic central nervous system drugs market share.
Key Generic Central Nervous System Drugs Market Driver – Increase In The Prevalence Of Central Nervous System Disorders
According to Global Cancer Statistics 2020, published by ACS Journals, a magazine of the American Cancer Society in the United States, 308,102 new instances of brain and CNS malignancies were diagnosed in 2020, with 251,329 cancer-related deaths occurring globally. As a result, the rising prevalence of central nervous system (CNS) illnesses will propel the generic central nervous system pharmaceuticals market forward.
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Key Generic Central Nervous System Drugs Market Trend – Product Innovations
To increase their market position, major firms in the generic central nervous system pharmaceuticals market are focusing on producing innovative goods and solutions. Teva Pharmaceutical Industries Ltd., an Israeli pharmaceutical company, for example, launched AJOVY, a humanized monoclonal antibody for the treatment of migraine in adults, in March 2020. AJOVY is the first and only anti-CGRP (anti-calcitonin gene-related peptide) therapy with monthly and quarterly dose options for migraine prophylaxis. This medicine was launched in the pre-filled YpsoMate 2.25 autoinjector from Ypsomed, a Swiss-based inventor and manufacturer of injectable and infusion systems.
Generic Central Nervous System Drugs Market Segment
1) By Drug Class: Immunomodulatory Drugs, Interferons, Decarboxylase Inhibitors, Dopamine Agonists, Antidepressants, Analgesic
2) By Disease: Neurovascular Diseases, CNS Trauma, Mental Health, Neurodegenerative Diseases, Infectious Diseases, CNS Cancer
3) By Route Of Administration: Oral, Parenteral
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Generic Central Nervous System Drugs Market Major Players and Strategies
Major players in the generic central nervous system drugs market are Otsuka Pharmaceutical Co. Ltd., Eli Lilly and Company, Merck & Co., Astra Zeneca, Shire PLC., Novartis AG, Teva Pharmaceutical Industries Ltd., Pfizer Inc., AbbVie Inc., Alkermes PLC., Allergan PLC., Bristol-Myers Squibb, Eisai Co. Ltd., Endo Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd., GlaxoSmithKline PLC., H. Lundbeck A/S, Janssen Pharmaceuticals Inc., and Neurocrine Biosciences Inc.
Avenue Therapeutics, a specialized pharmaceutical business based in the United States, paid an unknown sum for Baergic Bio in November 2022. Avenue will be a pioneer in the development of drugs that address unmet medical needs in the CNS discipline as a result of this purchase. Baergic Bio is a biopharmaceutical firm established in the United States that develops and markets cutting-edge treatments for the treatment of CNS (central nervous system) illnesses.
The Generic Central Nervous System Drugs Global Market Report 2023 covers regional data on generic central nervous system drugs market size, generic central nervous system drugs market trends and drivers, opportunities, strategies, and generic central nervous system drugs market competitor analysis. The countries covered in the generic central nervous system drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Generic central nervous system (CNS) medicines are those that affect the central nervous system (CNS) by slowing down brain activity. They are employed in the treatment of seizures, anxiety, panic attacks, and sleeplessness.
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