Neurodegenerative Disorder Market Is Estimated At Us$ 3.6 Billion In 2023

According to Fact.MR, the worldwide neurodegenerative disease market would grow from US$ 3.6 billion in 2023 to US$ 6.8 billion by 2033. From 2023 to 2033, global revenue from neurodegenerative diseases is expected to grow at a CAGR of 6.7%.

The prevalence of amyotrophic lateral sclerosis (ALS) is increasing globally. There has been a rise in people with severe symptoms of neurodegenerative disorders, which eventually lead to locked-in syndrome. This increase in instances is likely to fuel demand for neurodegenerative disease diagnosis and treatment, adding to market growth.

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The symptoms of ALS, a degenerative neurological system condition that damages nerve cells in the nervous system and spinal cord and resulting in muscular control loss, are most common in those aged 55 to 75. One of the key factors driving demand for neurodegenerative illness diagnosis and treatment is the aging population.

According to World Health Organization (WHO) forecasts for 2021, one in every six people globally would be 60 or older by 2030. The global population of persons aged 60 and more is predicted to grow from 1 billion in 2020 to 1.4 billion by 2050. By 2050, the world's population will be twice as large.

Competitive Landscape:
Amylyx Pharmaceuticals made a significant announcement in September 2022, stating that RELYVRIO (sodium phenylbutyrate and taurursodiol) has been approved by the FDA as a medical treatment for adults with amyotrophic lateral sclerosis (ALS).

In January 2021, Mitsubishi Tanabe Pharma America, a subsidiary of the company in the United States, entered into a license and supply agreement with Aquestive Therapeutics Inc. for the United States rights of Riluzole oral film, a therapeutic agent for ALS.

Key Players:
• Amylyx Pharmaceuticals, Inc.
• Mitsubishi Tanabe Pharma Corporate
• Eyegaze Inc.
• EYETECH DIGITAL SYSTEMS
• g.tec medical engineering GmbH
• Tobii AB
• Cognixion
• NeuroChat
• CereProc Ltd.
• EyeFree Assisting Communication Ltd.
• Synapse Biomedical Inc.
• Acapela Group
• Cyberdyne Inc.
• CareTech Holdings (Smartbox Assistive Technology)

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Regional Analysis:

The US market is expected to grow at a 6.7% CAGR to reach US$ 1.1 billion by 2033.

The total burden of neurodegenerative illnesses is expected to rise as the population ages. The increase in funding for different research initiatives related to neurodegenerative illnesses and early diagnosis of neurological problems is expected to drive market growth in the nation.

In 2023, the German market is expected to be worth US$ 192.2 million.

The development of drugs for neurodegenerative illnesses by a large number of German businesses has aided the country's market expansion. Increased illness awareness and treatment research as a result of the increasing frequency of neurological disorders is also boosting demand for these therapies.

These medications in the pipeline for the treatment of neurodegenerative illnesses are expected to drive market growth once they are marketed.

Key Segments of Industry:
• By Diagnosis & Treatment :
o Diagnosis
 Inpatient
 Outpatient
o Treatment
 Drugs
 Riluzole
 Edaravone
o Therapy
 Breathing & Feeding Care
 Physical Therapy
 Occupational Therapy
 Speech Therapy
o Assistive Technology Devices
 Brain-computer Interfaces
 Human-computer Interfaces
 Speech Generating Devices
 Communication Boards and Symbol Devices
 Other Assistive Devices
• By Indication :
o Amyotrophic Lateral Sclerosis (ALS)
o Locked-in Syndrome (LIS)
• By Distribution Channel :
o Hospitals Pharmacies
o Retail Pharmacies
o Drug Stores
o Online Pharmacies
o e-Commerce
o Supermarkets
• By Service Provider :
o Hospitals
o Specialty Clinics
o Rehabilitation Centers
o Home Care Settings
o Nursing Care Settings
o Diagnostic Centers

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This release was published on openPR.