Neurodegenerative Drugs Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global neurodegenerative drugs market is anticipated to grow at a CAGR of 6.8% during the forecast period (2022-2028). Neurodegenerative diseases are the chronic conditions that result in progressive degeneration or death of nerve cells. This causes problems with mental functioning known as dementias; mobility issues which is referred to as ataxias; and negatively impacts a person's ability to move, speak and breathe. Neurodegenerative drugs are the medicines that are used to treat and control the symptoms of neurodegenerative diseases that majorly affect the neurons of the human brain.

The market growth is majorly attributable to the growing prevalence and incidence of various neurodegenerative diseases such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis, multiple sclerosis, Huntington's disease, multiple system atrophy, spinal muscular atrophy, and several others. Another factor impacting the demand for neurodegenerative diseases drugs include the substantial burden of these diseases on global healthcare. Further, the neurodegenerative diseases continue to deteriorate the mental and physical health of the global population that further affect their quality of life. Thus, this is largely contributing to the growth of the global neurodegenerative drugs market.

Some key players operating in the market include Biogen Inc., F. Hoffman La-Roche Ltd., and Novartis International AG, among others. The market players are eyeing on strengthening their position in the market by adopting various strategies as mergers and acquisitions, partnerships, new product launch and collaborations. For instance, in June 2021, the US FDA approved Aduhelm (aducanumab) for the treatment of Alzheimer's. Aduhelm was approved using the accelerated approval pathway, which can be used for a drug for a serious or life-threatening illness that provides a meaningful therapeutic advantage over existing treatments.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Type
•By Indication
•Regions covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape: Biogen Inc., F. Hoffman La-Roche Ltd., and Novartis International AG, among others.

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Global Neurodegenerative Drugs Market Report by Segment
By Type
•Selective Serotonin Reuptake Inhibitors (SSRIs)
•N-Methyl-D-Aspartic Acid (NMDA)
•Dopamine Inhibitors
•Others
By Indication
•Alzheimer's Disease
•Parkinson's Disease
•Multiple Sclerosis
•Spinal Muscular Atrophy
•Others

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

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This release was published on openPR.