New York, July 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Generic Central Nervous System Drugs Global Market Report 2023" - https://www.reportlinker.com/p06457369/?utm_source=GNW
, 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.
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 generic central nervous system drugs market is expected to grow to $103.95 billion in 2027 at a CAGR of 6.0%.
The generic central nervous system drugs market consists of sales of sedatives, tranquilizers, and hypnotics.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Generic central nervous system (CNS) drugs refer to the drugs that have an impact on the central nervous system agents (CNS) by slowing down brain activity. They are used to treat seizures, anxiety, panic attacks, and insomnia.
North America was the largest region in the generic central nervous system drugs market in 2022. The regions covered in the generic central nervous system drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The major classes of generic central nervous system drugs are immunomodulatory drugs, interferons, decarboxylase inhibitors, dopamine agonists, antidepressants, and analgesics.Immunomodulatory medicines refer to the medicines that stimulate or suppress the formation of serum antibodies, alter how the immune system reacts to an antigen.
These drugs are used to cure major diseases, such as neurovascular diseases, CNS trauma, mental health, neurodegenerative diseases, infectious diseases, and CNS cancer.These drugs can be administered through oral and parenteral.
They are sold through various distribution channels, such as hospital pharmacies, retail pharmacies, and online pharmacies.
The increasing prevalence of central nervous system (CNS) disorders is expected to propel the growth of the generic central nervous system drugs market going forward.Disorders of the central nervous system include infections such as meningitis, encephalitis, polio, bell’s palsy, cervical spondylosis and others.
Generic central nervous system drugs are used to treat these diseases, hence increasing prevalence of disorders will drive the generic central nervous system drugs market.For instance, according to Global Cancer Statistics 2020 published by ACS Journals, a journal of US-based American Cancer Society, 308,102 new cases of brain and CNS cancers were diagnosed, and 251,329 cancer-related deaths occurred in 2020 worldwide.
Thus, the increasing prevalence of central nervous system (CNS) disorders will drive the growth of the generic central nervous system drugs market.
Product innovations have emerged as a key trend gaining popularity in the generic central nervous system drugs market.Major companies operating in the generic central nervous system drugs market are focused on developing innovative products and solutions to strengthen their position in the market.
For instance, in March 2020, Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company, launched AJOVY, a humanized monoclonal antibody for the treatment of migraine in adults. AJOVY is the first and only anti-CGRP (anti-calcitonin gene-related peptide) treatment for the prevention of migraine, with monthly and quarterly dosing options. The company launched this drug product in the pre-filled YpsoMate 2.25 autoinjector from the firm called Ypsomed, a Switzerland-based developer and manufacturer of injection and infusion systems.
In November 2022, Avenue Therapeutics, a US-based specialty pharmaceutical company, acquired Baergic Bio for an undisclosed amount.This acquisition makes Avenue a pioneer in the creation of medications that address unmet medical needs in the CNS field.
Baergic Bio is a US-based biopharmaceutical company dedicated to the creation and marketing of cutting-edge therapies for the management of CNS (central nervous system) diseases.
The countries covered in the generic central nervous system drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The generic central nervous system drugs market research report is one of a series of new reports that provides generic central nervous system drugs market statistics, including generic central nervous system drugs industry global market size, regional shares, competitors with a generic central nervous system drugs market share, detailed generic central nervous system drugs market segments, market trends and opportunities, and any further data you may need to thrive in the generic central nervous system drugs industry. This generic central nervous system drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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