Global Central Nervous System Treatment Market Is Expected to Reach $166 Billion In 2028

News provided by

May 26, 2022, 08:50 ET

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., May 26, 2022 /PRNewswire/ -- Worldwide, there is a rapid increase in the prevalence and incidence of neurological disorders such as multiple sclerosis, Alzheimer's, Parkinson's, among others. According to Public Health England, the number of individuals with multiple sclerosis has increased over the last few years. This increase is set to remarkably influence the growth of the market in the coming years. Increasing prevalence of neurological disorders, and increasing diagnosis rates in developed and emerging countries is presenting a large patient pool undergoing treatment. This is further supported by the emphasis of non-profit organizations, healthcare systems, and market player towards creating awareness regarding these conditions through campaigns, etc. These factors along with introduction of new generation of antipsychotic drugs by global and domestic players in the market is poised to drive the growth opportunities of the market through 2028. A report from Fortune Business Insights projected that the global central nervous system treatment market size was USD 81.67 billion in 2020. The market is expected to grow from USD 89.02 billion in 2021 to USD 166.53 billion in 2028 at a CAGR of 9.4% in the 2021-2028 period. It said: "The global impact of COVID-19 has been unprecedented and staggering, with the central nervous system treatment witnessing a negative demand shock across all regions amid the pandemic." Active Companies in the markets today include SciSparc Ltd. (NASDAQ: SPRC), Alkermes plc (NASDAQ: ALKS), Novartis AG (NYSE: NVS), Relmada Therapeutics, Inc. (NASDAQ: RLMD), Jazz Pharmaceuticals plc (NASDAQ: JAZZ).

Fortune Business Insights article continued: "The central nervous system (CNS) treatment market is projected to expand at an incredible growth rate. Over the past years, the world has witnessed a striking increase in neurological disorders' diagnosis rates. According to the Alzheimer's Association, around 6 million people in the U.S. are currently living with Alzheimer, and by 2050, the number of people suffering from the condition is projected to reach 13 million. Also, neurological disorders are exerting a huge economic burden on the healthcare system of various countries. The direct and indirect costs of treatment and management of these conditions is gradually increasing owing to the increasing prevalence. Alzheimer's and other dementia's cost around USD 355 billion in direct and indirect costs to the U.S. each year. One of the significant trends that the market exhibits are mergers, acquisitions, and partnerships. Predominant companies in the market involved in innovating central nervous system treatment drugs have entered into distribution and developmental agreements with fellow competitors."

SciSparc Ltd. (NASDAQ: SPRC) BREAKING NEWS: SciSparc Announces Ethics Committee Approval to Conduct a Phase IIb Trial in Tourette Syndrome - SciSparc Ltd., a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced it received Ethics Committee approvals from Hannover Medical School in Hannover, Germany, and the Tel Aviv Sourasky Medical Center, in Tel Aviv, Israel, to conduct the Company's Phase IIb clinical study for SCI-110 in patients suffering from Tourette Syndrome ("TS"). The Company is evaluating additional clinical sites to join the Phase 2b trial to expedite patient enrollment in a timely manner.

"We are delighted and honored to receive Ethics Committee approval, an important step toward initiation of our Phase IIb trial in TS," commented Oz Adler, SciSparc's Chief Executive Officer. "We are encouraged by the Phase IIa study conducted at Yale University, which demonstrated that SCI-110 was able to significantly decrease symptoms over time in adult subjects with TS, and we are excited about achieving another significant milestone to further the Company's clinical program. TS is one of our leading indications and we believe that we could make a real change in patients' lives and their quality of life while reducing side effects, thanks to our unique technology."

TS is a movement and neurobehavioral disorder characterized by chronic motor and vocal tics. With onset before age 18, about half to two-thirds of TS cases improve during adolescence, while adults are generally more severe patients. Tics may be associated with a premonitory sensation to perform a specific action, which may lead to "relief" once performed.

The objective of this Phase IIb randomized, multi-national, multi-center, double-blind, placebo controlled cross-over study is to evaluate the efficacy, safety and tolerability of SciSparc's proprietary drug candidate SCI-110 in adult patients (between 18 and 65 years of age). The patients will be randomized in a 1:1 ratio to receive either SCI-110 or SCI-110 matched placebo. The primary efficacy objective of the study will be to assess tic severity change using Yale Global Tic Severity Scale (YGTSS-R-TTS), the most commonly used measure in clinical trials, as a continuous endpoint at week 12 and week 26 of the double-blind phase compared to baseline. The primary safety objective of the study will be to assess absolute and relative frequencies of serious adverse events for the entire population and separately for the SCI-110 and placebo groups. CONTINUED… Read this full release for SciSparc at: https://investor.scisparc.com/press-releases/

Other recent developments in the biotech industry include:

Alkermes plc (NASDAQ: ALKS) recently announced the acceptance of four abstracts related to nemvaleukin alfa (nemvaleukin), the company's novel, investigational, engineered interleukin-2 (IL-2) variant immunotherapy, at the American Society of Clinical Oncology (ASCO) Annual Meeting, taking place June 3-7, 2022 in Chicago and virtually. The final dataset from the phase 1/2 ARTISTRY-1 clinical trial, evaluating the safety, tolerability and efficacy of nemvaleukin administered intravenously as a monotherapy and in combination with pembrolizumab (KEYTRUDA^®), will be shared in an oral presentation. In addition, trial-in-progress posters from the ongoing ARTISTRY-3 trial and the potential registration-enabling studies ARTISTRY-6 and ARTISTRY-7 will be presented.

Alkermes plc is a fully-integrated, global biopharmaceutical company developing innovative medicines in the fields of neuroscience and oncology. The company has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of product candidates in development for neurodegenerative disorders and cancer. Headquartered in Dublin, Ireland, Alkermes plc has a research and development center in Waltham, Massachusetts; a research and manufacturing facility in Athlone, Ireland; and a manufacturing facility in Wilmington, Ohio.

Novartis AG (NYSE: NVS) has recently announced that the Committee for Medicinal Products for Human Use ("CHMP") of the European Medicines Agency ("EMA") adopted a positive opinion for the label expansion of blockbuster arthritis drug Cosentyx (secukinumab).

CHMP recommended the approval of the drug used alone or in combination with methotrexate, in the juvenile idiopathic arthritis (JIA) categories of enthesitis-related arthritis (ERA) and juvenile psoriatic arthritis (JPsA) in patients six years of age and older whose disease has responded inadequately to, or who cannot tolerate conventional therapy.

Relmada Therapeutics, Inc. (NASDAQ: RLMD), a late-stage biotechnology company addressing diseases of the central nervous system (CNS), recently announced the publication of REL-1017 preclinical data in the peer-reviewed journal, Frontiers in Pharmacology. The article is titled, "REL-1017 (Esmethadone), A Novel NMDAR Blocker for the Treatment of MDD is Not Neurotoxic in Sprague-Dawley Rats," and is available online.

"These compelling previously presented data confirm that REL-1017 does not produce Olney's lesions, unlike what has been seen in other NMDAR blockers," said Paolo L. Manfredi, M.D., Chief Scientific Officer of Relmada. "The results further contribute to our understanding of the safety profile of REL-1017."

Jazz Pharmaceuticals plc (NASDAQ: JAZZ) recently announced that the Company and its partners will present seven abstracts at the American Society of Clinical Oncology (ASCO) Annual Meeting from June 3 – June 7, 2022, and eight abstracts at the 27^th Annual Congress of the European Hematology Association (EHA) from June 9 –12, 2022. Research findings to be presented include data on Rylaze/JZP458, Zepzelca^®(lurbinectedin), Defitelio^®(defibrotide sodium) and Vyxeos^®/Vyxeos^®Liposomal (daunorubicin and cytarabine), also known as JZP351.

"As part of Jazz's commitment to explore potential new applications of our oncology medicines to address critical needs, we continue to advance programs that could impact difficult-to-treat therapeutic areas," said Rob Iannone, M.D., M.S.C.E., executive vice president, global head of research and development of Jazz Pharmaceuticals. "Our growing, early-stage pipeline, combined with ongoing Jazz-sponsored and partner research across our portfolio, is making significant progress when it comes to addressing unmet patient needs in cancers that have historically lacked scientific advancements."

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by SciSparc Ltd. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:

Media Contact email: [email protected] - +1(561)325-8757

SOURCE FinancialNewsMedia.com