Neurological Disorders and High Level of Unmet Clinical Need to Create Opportunities in European Central Nervous System Therapeutics Market
May 24, 2006
London, United Kingdom — The European central nervous system (CNS) therapeutics market faces several challenges such as generic competition, parallel imports and increasing cost containment measures by the European Government. However, factors such as an ageing population, a high level of unmet clinical need and increasing prevalence of neurological disorders along with improved diagnostic techniques are expected to boost the revenue potential of these markets. To capitalise on the considerable growth opportunities present, market participants will need to focus on product life cycle management and on developing novel drug delivery methods.
Frost & Sullivan (http://www.healthcare.frost.com) finds that the European Central Nervous System (CNS) Therapeutics Markets earned revenues of $22.90 billion in 2005 and estimates this to reach $31.31 billion in 2012.
The CNS therapeutics market is benefiting from favourable population demographics and improving diagnostic techniques. Moreover, factors such as a high level of unmet clinical needs and a lower level of genericisation imply that there is tremendous untapped potential in the neurological disorders segment.
“The expansion of the CNS market is expected to be based on neurological disorders such as Alzheimer’s disease and multiple sclerosis,” says Frost & Sullivan Research Analyst Sumanth Kambhammettu. “Psychiatric disorders feature a high level of genericisation and intense competition, resulting in a shift in focus to neurological disorders.”
However, participants are unlikely to easily achieve market penetration due to factors such as parallel reimportation and reference pricing. Also, owing to rising healthcare costs, most European nations have implemented stringent cost containment measures, which have in turn squeezed profit margins.
“The National Institute of Clinical Excellence (NICE) guidelines for multiple sclerosis and oral neuroleptics in the United Kingdom and the decentralisation of reimbursement policies in Italy are certain decisions that are likely to have significant ramifications on the CNS markets,” says Mr. Kambhammettu. “With most European governments making it harder for products to be reimbursed, market participants will have to devise strategies to price their products competitively, and yet make them affordable.”
For mature markets such as depression and psychosis, effective product life cycle management will be critical. Research will need to focus on expanding product indications and sustaining the market share of blockbuster molecules. At the same time, marketing collaborations and consolidation by means of alliances as well as mergers and acquisitions could contribute to offsetting the risks of drug development.
European Central Nervous System (CNS) Therapeutics Markets is part of the Pharmaceutical/Biotechnology Subscription, which also includes research in the following markets: European Antidepressants Markets and, European Anti-Alzheimer’s Drugs Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews are available to the press.
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