Generic Central Nervous System Drugs Global Market Report 2024

The generic central nervous system drugs market size has grown strongly in recent years. It will grow from $83.71 billion in 2023 to $89.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The expansion observed in the historical period can be attributed to an increasing number of surgeries, strong growth in emerging markets, an increase in pharmaceutical research and development, a growing geriatric population, and increased healthcare expenditure.

The generic central nervous system drugs market size is expected to see strong growth in the next few years. It will grow to $117.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be attributed to growing government initiatives for mental health awareness, a rise in healthcare expenditure, an increasing geriatric population, and a strong pipeline of drugs. Key trends expected in the forecast period encompass investments in wearable technology, biomarkers in CNS development, modification of existing drugs, investment in drug pipeline, the use of 3D printing for drug manufacturing, and a focus on establishing collaborations with research institutions and established companies. Player-adopted strategies in the central nervous system drugs market include acquiring emerging technological companies, expanding brand portfolios through new product launches, and expanding business operations in other regions.

The anticipated increase in the prevalence of mental health disorders is set to drive the growth of the generic central nervous system (CNS) drug market. Mental health disorders, characterized by significant impairment in cognition, emotional regulation, or behavior, often lead to distress and functional limitations. Generic CNS drugs play a vital role in managing mental health disorders by offering affordable and accessible treatment options. A noteworthy example is the report from the UK's Health and Social Care Information Centre in November 2022, revealing a rise in the suspected mental disorder rate among 17- to 19-year-olds, increasing from 17.4% in 2021 to 25.7% in 2022. This underscores the market's growth driven by the escalating incidence of mental health disorders.

The growth of the generic CNS drug market is further propelled by the increasing expenditure on healthcare. Healthcare expenditure encompasses the total resources spent on healthcare goods and services within a specific timeframe. The generic CNS drug industry benefits from higher healthcare spending through improved accessibility, affordability, and innovation in mental health treatment drugs. Notably, the US-based Centers for Medicare & Medicaid Services projects average National Health Expenditures (NHE) growth of 5.4%, exceeding average GDP growth (4.6%) between 2022 and 2031. The rising prevalence of chronic diseases, with almost 60% of adult Americans having at least one chronic disease, contributes to increased healthcare spending, reaching $2 trillion annually by 2030. Thus, the escalating healthcare expenditure is poised to fuel the growth of the generic CNS drug market.

A significant trend gaining traction in the generic CNS drug market is product innovation. Major companies in the market are concentrating on developing innovative solutions to enhance their market position. For instance, Intra-Cellular Therapies, Inc., a US-based biopharmaceutical company, introduced CAPLYTA in December 2021. CAPLYTA serves as a treatment for depressive episodes associated with bipolar I or II disorder in adults, either as monotherapy or adjunctive therapy with lithium or valproate. Notably, CAPLYTA is the only FDA-approved medication for treating depressive disorders linked to bipolar I or II, exhibiting a positive profile concerning weight, cardiometabolic parameters, and extrapyramidal symptoms. This innovative approach addresses serious mental health conditions, benefiting a significant population.

A noteworthy trend in the generic CNS drug market involves major companies focusing on biosimilars for CNS conditions. The development and approval of biosimilars for biologic drugs used in CNS disorders offer cost-effective alternatives to branded biologics. Sandoz, a Switzerland-based pharmaceutical company, launched natalizumab-sztn in October 2023, marking the first biosimilar to treat relapsing forms of multiple sclerosis (MS). This biosimilar provides a more economical option for patients with MS, a chronic autoimmune disease affecting the central nervous system. Such developments underscore the industry trend of introducing biosimilars to address unmet medical needs in CNS disorders.

In November 2022, Avenue Therapeutics, a US-based specialty pharmaceutical company, acquired Baergic Bio, a biopharmaceutical company dedicated to creating innovative therapies for CNS diseases. This acquisition positions Avenue as a leader in developing medications that address unmet medical needs in the CNS field, showcasing the market's strategic partnerships and acquisitions.

Major companies operating in the generic central nervous system drugs market report are Biogen Inc., Johnson & Johnson, Hoffmann-La Roche Ltd., Novartis AG, UCB, Sanofi, Pfizer Inc., Merck KGaA, Sumitomo Dainippon Pharma, AbbVie, Recipharm AB, Neuraxpharm, Sun Pharmaceutical limited, Ranbaxy Laboratories, Merz Pharma GmbH & Co. KGaAare, AstraZeneca, Apotex, Gilead Sciences, Bayer, GlaxoSmithKline, Amgen, Abbott Laboratories, Janssen Pharmaceutica, Teva Canada, Accord Healthcare Inc., Acerus Pharmaceuticals Corporation, Amgen, EMS Pharma, Hypermarcas, Eurofarma, Teuto Brasileiro, Biolab Farmaceutica, Cristalia, União Quimica, Boehringer Ingelheim, Eli Lilly and Company, Adcock Ingram.

North America was the largest region in the generic central nervous system drugs market in 2023. 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, Africa. 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, Italy, Spain, Canada.

The major types of generic central nervous system drugs include anti-psychotic, analgesics, anti-parkinson drugs, anesthetics, anti-epileptics, anti-depressants, and others. Antipsychotics, also known as neuroleptics, are a class of medications primarily employed to manage symptoms associated with psychotic disorders such as schizophrenia and bipolar disorder. These drugs are categorized as branded or generic, and their administration routes include oral, intravenous, intranasal/inhalation, and others. They are used to address various diseases such as neurovascular diseases, CNS trauma, mental health conditions, neurodegenerative diseases, infectious diseases, and CNS cancer. The mode of purchase includes over-the-counter drugs and prescription-based drugs, and these drugs are distributed through various channels such as hospital pharmacies, retail pharmacies, and others.

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.

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.

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.