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Mental Health Disorders on the Rise

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According to a report from Grand View Research “High unmet medical needs and government initiatives to reduce the psychiatric and neurological disorders are driving the market for central nervous system (CNS) therapeutic.

According to WHO, the global economy loses due to depression and anxiety is more than USD $1 trillion per year and rising patient base of mental health globally is expected to increase the economy loses by USD $16 trillion in 2030. The market holds strong future growth opportunities and major players are adopting different marketing strategies such as new product development, collaborations, geographic expansion, mergers and acquisitions, and new product approval, to strengthen their positions.”  The report projected that the global central nervous system therapeutic market size is expected to reach USD 205.0 billion by 2028 and is expected to expand at a CAGR of 7.4% through 2028. 

The report continued: “Presence of strong pipeline products by major pharmaceutical companies… and others are expected to accelerate market growth over the forecast period. Besides, other pharmaceutical companies are also actively involved in the development of novel therapies and investing heavily to develop effective therapeutics for the treatment of CNS associated diseases.  Active Biotechs in the markets today include:  Pasithea Therapeutics Corp., Alkermes plc, Passage Bio, Inc., Acadia Healthcare Company, Inc., atai Life Sciences.

Most of the late phase development drugs are for the treatment of neurodegenerative disorders such as Alzheimer’s disease, multiple sclerosis, Parkinson’s disease, and amyotrophic lateral sclerosis… some of the potential drugs that could be commercialized in the next five to eight years for the treatment of various indication of neurodegenerative disorders. Apart from neurodegenerative diseases, migraine, schizophrenia, and epilepsy are the major CNS disease indications that have potential drug candidates in pipeline.  Pharmaceutical companies are adopting strategies such as product development, merger and acquisition, and collaboration to strengthen their position in market.”

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editor

Editor in chief for eTurboNew is Linda Hohnholz. She is based in the eTN HQ in Honolulu, Hawaii.

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