Rare Neurological Disease Treatment Market to Hit US$13,830.96 Mn in 2027

Neurological diseases having less diagnostics and treatment options affecting small number of population is termed as rare neurological diseases. These diseases target the nervous system, which include the brain, spinal cord, and all the nerves that run throughout the human body. Amyotrophic lateral sclerosis (ALS), Duchenne muscular dystrophy, Huntington's disease are few examples of rare neurological conditions.

The global Rare Neurological Disease Treatment Market is expected to reach US$ 13,830.96 Mn in 2027 from US$ 7,300.12 Mn in 2019. The market is estimated to grow with a CAGR of 8.5% from 2020-2027.

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The frequency of neurological disorders has increased significantly across the world. These disorders are estimated to affect over a billion population worldwide, according to the World Health Organization in 2016. Neurological disorders are commonly found among population, irrespective of the age groups, and geographic region. In the recent years, various measures have been implemented to generate awareness and educate the population regarding rare neurological diseases, which is facilitating patients to access the suitable medications and treatments for these conditions. According to National Center for Biotechnology Information 2017, clinician and public awareness of various neurological disorders with the intent of increasing rates of recognition and treatment.

Leading Companies:

Leading companies operating in the Rare Neurological Disease Treatment Market are Allergan plc, Bayer AG, GlaxoSmithKline plc, Johnson & Johnson Services, Inc, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi, Teva Pharmaceutical Industries Ltd and Takeda Pharmaceutical Company Limited, among others.

The global rare neurological disease treatment market, based on drug type, was segmented as organic compounds, and biologics. The biologics segment held the largest share of the market in 2019 and the same segment is anticipated to register the highest CAGR during the forecast period. Biologic segment offers novel therapies that provides innovative treatment options for patients. Also, biologics have shown positive results in the treatment of diseases such as Alzheimer's disease, multiple sclerosis, amyotrophic lateral sclerosis, Parkinson's disease. For instance, L-DOPA treatment is considered as a standard of care for patients, and it assists in managing the common motor symptoms, including tremors and dyskinesia in the patients of Parkinson's disease.

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