The US market for neurotherapeutic pharmaceuticals will more than double by 2000, rising from a value of $1.7 billion in 1993 to $4.2 billion by 2000 at an average annual compound rate of 13.8%, says a new study from Frost & Sullivan. Actual market growth in 1993 was 9.4%, the report estimates, but the market shot up to 24.6% in 1994 and is expected to grow even higher this year, to a forecast 26.7%, before dropping down again to 5% in 1996. Annual growth to the end of the century will then, however, average above 10%, it is forecast.
Driving the market will be the aging population, increased R&D and improved understanding of the nature of neurological diseases, says the study; the industry estimates that 90% of existing human knowledge concerning the brain and the central nervous system has been acquired within the past 10 years. Industry R&D is now at an all-time high, with manufacturers now routinely spending 20% of revenues in this area, and new products are likely to arrive on the market in a steady stream during the forecast period.
Unprecedented growth is expected for companies producing new CNS breakthrough treatments, which will change fundamentally the treatment of disorders for which there are currently no effective therapies. Moreover, new delivery systems are expected to provide advances in the quality and efficacy of treatments, particularly those for epilepsy and chronic pain, it says.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze