Increasing Consumer Awareness Regarding Such Drug Delivery Coupled With Rising Prevalence of Biological Therapies Are Amongst the Major Factor Projected to Impel Growth of Central Nervous System Drug Delivery Market.
New York, NY -- (SBWIRE) -- 10/14/2021 -- Central Nervous System Drug Delivery market size was valued at $ 1,538 million in 2020, and is anticipated to grow at a CAGR of 4.1% during the forecast period 2021-2026. The brain is a highly sensitive and fragile neuronal organ system that needs a regular supply of fuels, gases, and nutrients to maintain homeostasis and other vital functions. But blood-brain barrier a vasculature of the central nervous system acts as a physical barrier and imposes various obstacles. It inhibits the delivery of biological therapies agents to the CNS and imposes obstruction for delivery of a large number of drugs, including antibiotics, antineoplastic agents, and neuropeptides, to pass through the endothelial capillaries to brain. Though several drug delivery methods and strategies have been developed for CNS related disease therapeutics, most of them are proved invasive and lack the target specificity as all traditional drug delivery methods are based on trials and errors. Apart from this, maintaining normal body functions and transport of various biological therapeutic agents across biological membranes is highly essential. However, only few of the existing methods allow drugs for suitable and successful membrane permeation. Moreover, new drug delivery methods are developed based on rational drug design and using high throughput screening receptor-ligand interactions to find appropriateness of the drug among thousands of new compounds. All these factors are to boost the CNS drug delivery industry in the forecast period 2021-2026. However, governments in both developed and developing countries are encouraging cost-saving measures which is affecting the profitability of several pharmaceutical companies which is poised to hinder the Central Nervous System Drug Delivery market growth.
Central Nervous System Drug Delivery Market Segment Analysis - By Disease Type
On the basis of disease type, neurodegenerative disease segment accounted for the largest segmental revenue of the Central Nervous System Drug Delivery market in 2020. The large share can be attributed to the fact that the neurodegenerative disease is a key CNS disease which consists of multiple sclerosis, Alzheimer's disease, and Parkinson's disease and there is growing incidence for the treatment of such diseases which increases in the adoption of various drug delivery system for these disease thereby, accelerating the growth of the Central Nervous System Drug Delivery market. Furthermore, this segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 4.3% as most of the consumers who are opting for treatment of such diseases are of high costs but strong pipeline products are underway which are also aiding further increase in the growth of this market.
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Central Nervous System Drug Delivery Market Segment Analysis - By Distribution Channel
In 2020, on the basis of distribution channel, hospital pharmacies segment accounted for the largest segmental revenue of the Central Nervous System Drug Delivery market on account of the notable number of inpatient and outpatient visiting to hospitals followed by the requirement of large volumes of such drug delivery and their respective drugs are to cater the market revenue for the segment.
On the contrary, retail pharmacies segment is projected to witness healthy growth throughout the forecast period 2021-2026 with a CAGR of 4.6% since there is an increasing access to the prescription drug deliveries followed by their respective discounts provided. Apart from this, owing to the customer flexibility many retail outlets are also starting to invest in such products which is also set to increase the growth of the market during the forecast period 2021-2026.
Central Nervous System Drug Delivery Market Segment Analysis - By Geography
North America is the major region dominating the Central Nervous System Drug Delivery market with a market share of 35.34% in the year 2020. This can be attributed to rising awareness of health and the growing pharmaceutical industry. Moreover, increasing neurodegenerative diseases are rising the demand for Central Nervous System Drug Delivery market. Apart from this, U.S. is the largest producer of Central Nervous System Drug Delivery in the North American market, also the country has expanded its domestic market during recent years mainly owing to its growing pharmaceutical market players market across the region.
On the other hand, Asia Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to the emergence of pharmaceutical industry during the forecast period 2021-2026. Furthermore, increasing awareness regarding mental health and initiatives of the government and non-profit organizations in countries like China and India are paving the way for demand hence, increasing the growth of the market in Asia Pacific region.
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Central Nervous System Drug Delivery Market Drivers
Rising Adoption of Novel Technologies
The Central Nervous System Drug Delivery market driver can be attributed to the increasing demand for the adoption of modern systems which increases the use of novel Central Nervous System Drug Delivery that contributing to the growth of Central Nervous System treatments. Furthermore, there is an increase in the prevalence of various chronic diseases followed by its digitalization are also increasing the market growth of Central Nervous System Drug Delivery market.
Central Nervous System Drug Delivery Market Challenges
Pressure in Pricing Surge Down
The restraining factor that is to create a negative impact during the forecast period 2021-2026 is the increasing pressure for pricing surge down as governments in both developed and developing countries are encouraging cost-saving measures which is affecting the profitability of several pharmaceutical companies.
Central Nervous System Drug Delivery Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Central Nervous System Drug Delivery market. In 2020, Central Nervous System Drug Delivery market share is fragmented by the top ten players present in the market. The Central Nervous System Drug Delivery market top 10 companies are Angiochem, D-Pharm, Biogen Inc, Otsuka Pharmaceutical Co. Ltd, Eli Lilly and Company, Merck & Co., AstraZeneca, Takeda Pharmaceutical Company Limited, Flowonix Medical, Lauren Sciences and others.
Geographically, North America region held the highest market share of 35.34% in 2020.
The factors such as the increasing consumer awareness regarding such drug delivery coupled with rising prevalence of biological therapies are amongst the major factor projected to impel growth of Central Nervous System Drug Delivery market.
Additionally, factors such as companies investing in novel innovations to improvise and evaluate their product portfolio through technological up gradations thereby, obtaining varying stability and dispensability at all levels are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.
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