The Canada CNS Therapeutics market size stood at around USD XX billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of XX% during the forecast period.
The Canadian market for CNS Therapeutics is driven by the urgent need to address the unmet medical needs of neurological disorders. With unmet needs continuing to persist, societal and healthcare burden continues to increase. Stroke and infections such as meningitis and encephalitis continue to be the leading cause of disability worldwide, pushing up the cost of nursing care, hospice and bringing down the quality of life. The CNS therapeutics market has experienced extensive R&D efforts in the past decade, which have resulted in the introduction of novel drug-delivery systems. The advancements in the drug-delivery systems are expected to increase the adoption of a novel therapy to treat central nervous system diseases.
Strong opportunities for CNS focussed drugs exist and compounding this need is the rapidly ageing population and a parallel rise in Parkinson’s, Alzheimer’s, pain manifestations, cerebrovascular disorders, stroke, seizures, cognitive and memory disorders. The scenario has created a healthy pipeline of late-stage drugs and the market is expected to benefit from the rising acceptance of new therapies and new classes of drugs. Increased demand for combination therapies, growing usage of generics, and launch of new Alzheimer’s drugs including anti-amyloid proteins, cholinergic and nicotine receptor agonists, neuroprotective drugs, vaccines and GABA receptor modulators, a better understanding of the electrochemical processes of the brain and development of disease-modifying therapies is driving growth in the antiepileptic drugs market. The volume of CNS prescriptions for chronic pain and psychiatric disorders will grow in the coming years as the burden of mental illnesses intensifies as a result of lifestyle and societal changes and physiological stress.