Global Central Nervous System Drugs Market Trends And Strategies Of Major Players In The Central Nervous System Drugs Market 2020
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The global central nervous system drugs market is expected to grow from $123.4 billion in 2019 to $136.7 billion in 2020 at a compound annual growth rate (CAGR) of 10.8%. This growth is mainly due to the COVID-19 outbreak and the microinvasive nature of the virus. The CNS is more prone to the viral infection. The virus affects the senses of smell and taste and therefore it is important to curb the interaction between the viral protein and the human receptor, and this factor is driving the demand for CNS drugs. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $160.4 billion in 2023.
The central nervous system drugs market consists sales of central nervous system drugs and related services by entities (organizations, sole traders and partnerships) that produce central nervous system drugs to treat brain and spinal cord diseases. This industry includes establishments that produce nervous system drugs, pain reducing analgesics, anti-Parkinson drugs to treat Parkinson’s disease, anticonvulsant anti-epileptics drugs to control epileptic seizures, anesthetics and other drugs such as muscle relaxants, antiemetics.
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The global central nervous system drugs market is further segmented based on type, distribution channel, route of administration, drug classification, mode of purchase and geography.
By Type: Analgesics, Anti-Parkinson drugs, Anesthetics, Anti-Epileptics, Other CNS Drugs.
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others.
By Route Of Administration: Oral, Parenteral, Others.
By Drug Classification: Branded Drugs, Generic Drugs.
By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs.
By Geography: The global central nervous system drugs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American central nervous system drugs market accounts for the largest share of 48% in the global central nervous system drugs market.
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Trends In The Central Nervous System Drugs Market
Pharmaceutical companies are partnering with technology companies and incorporating wearables in clinical studies and for research and development of CNS disease treatments. These wearable devices make use of sensors to detect early symptoms of Parkinson’s disease such as tremors, slowness and stiffness in patients. Researchers use this data to gain insights about the disease and potential drug reactions, and thus reduce the time for trials by 30% to 50%.
Central Nervous System Drugs Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides central nervous system drugs market overviews, analyzes and forecasts market size and growth for the global central nervous system drugs market, central nervous system drugs market share, central nervous system drugs market players, central nervous system drugs market segments and geographies, central nervous system drugs market’s leading competitors’ revenues, profiles and market shares. The central nervous system drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.