Neurological Disorder Drugs Market to Reach USD 125.60 billion, by 2032 at 5.9% CAGR: Says The Data Bridge Market Research

The methodical collection and assessment of market data for the Neurological Disorder Drugs Market business led to the creation of the Neurological Disorder Drugs Market research. All of this information is provided in a way that appropriately explains different facts and numbers to the company. The market data included in the study aids in identifying the various global market opportunities that the Neurological Disorder Drugs Market business is experiencing. Accurate information regarding consumer behavior, industry changes, and market trends is provided by this research. Investing in a market research report of this kind is always beneficial for businesses, regardless of size, when it comes to selling goods or services. An analytical examination of the winning Neurological Disorder Drugs Market research aids in the design of growth plans for boosting sales and enhancing brand recognition.

Explore Further Details about This Research Neurological Disorder Drugs Market Report https://www.databridgemarketresearch.com/reports/global-neurological-disorder-drugs-market

Globally, neurological disorders are the main cause of death. It is defined as both central and peripheral nervous system disorders. The diseases primarily affect the elderly population. It may progress and necessitate long-term treatment. Congenital neurological abnormalities appear during the early stages of embryo development and can be detected at birth. A variety of factors, such as traumatic brain injuries, immunological problems, postnatal injections, spinal cord injuries, neoplasia, and exposure to ambient chemicals or poisons, can cause acquired neurological disorders after birth. Many bacterial, viral, fungal, and parasite diseases can damage the nervous system, resulting in neurological illnesses.

Data Bridge Market Research analyses that the neurological disorder drugs market was valued at USD 79.40 billion in 2021 and is expected to reach USD 125.60 billion by 2029, registering a CAGR of 5.9% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

A neurological diseases occurs when any portion of the brain or nervous system malfunctions, causing physical and/or psychological symptoms. Neurological disorders are treated with a variety of medications, including antipsychotics, antiepileptics, anticholinergics, and analgesics. Furthermore, the drug that is prescribed is primarily determined by the patient's neurological condition. These medications aid in the management of neurological conditions, symptom reduction, and improved quality of life. Corticosteroids, which are widely used to treat multiple sclerosis and help reduce inflammation, are among the most commonly used neurological medications.

Drivers

Growing geriatric population

The market's growth is propelled by an increase in the geriatric population, which leads to the presentation of numerous neurological problems. Cerebrovascular disorders such as stroke and migraine affect people of all ages in countries including Germany, the United Kingdom, and Italy. In adults aged 45 to 84, France, Sweden, Greece, Denmark, and Russia have high rates of cerebrovascular illness. As per a study published in the NCBI in 2018, the prevalence of stroke in Singapore was 7.67 percent among persons aged 65 and up.

Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of dermatitis market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

Rising awareness about early disease diagnosis

The neurological disorder drugs market is expected to grow due to rising awareness associated with early disease diagnosis through awareness campaigns by government regulatory bodies and private organizations, and market entry of efficient drugs in the near future, owing to the presence of a strong drug pipeline. As per a report published by the Pharmaceutical Research and Manufacturers of America (PhRMA) in April 2018, biopharmaceutical companies in the United States are currently developing 537 medications for various neurological illnesses. 95 drugs for brain tumors, 46 for chronic pain, and 92 for Alzheimer's disease are among them. Multiple sclerosis, migraines, amyotrophic lateral sclerosis, and Parkinson's disease are among the 30 illnesses being researched.

Furthermore, surging number of government initiatives to spread awareness and increasing prevalence of neurological diseases such as dementia will result in the expansion of neurological disorder drugs market. Along with this, sedentary lifestyle of people and will enhance the growth rate of the market.

Recent Development

In September 2021, Sumitomo Dainippon Pharma and Otsuka had announced a collaboration as well as license agreement for four psychiatry and neurology compounds namely ulotaront (SEP-363856), SEP-4199, SEP-378614, and SEP-380135. Under the terms of the partnership, Sunovion and Otsuka will split the costs and revenues of clinical trials, regulatory applications, and commercialization in each of these nations and areas. Additional ulotaront indications, and also SEP-378614 and SEP-380135 indications, will be identified after future Sumitomo Dainippon Pharma Group and Otsuka consultations.
Global Neurological Disorder Drugs Market Scope

The neurological disorder drugs market is segmented on the basis of indication, drug class, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Indication

Epilepsy
Alzheimer's Disease
Parkinson's Disease
Multiple Sclerosis
Cerebrovascular Disease
Others

Drug Class

Cholinesterase Inhibitors
NMDA Receptor Antagonists
Antiepileptic
Antipsychotic and Antidepressant
Others

Route of Administration

Oral
Parenteral
Others

End-Users

Hospitals
Specialty Clinics
Homecare
Others

Distribution Channel

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Others

Some of the major players operating in the neurological disorder drugs market are:

Merck KGaA (Germany)
Eisai Co., Ltd. (Japan)
AstraZeneca (U.K.)
Sanofi (France)
Novartis AG (Switzerland)
Abbott (U.S.)
Hoffmann-La Roche Ltd. (Switzerland)
Teva Pharmaceutical Industries Ltd. (Ireland)
Pfizer Inc. (U.S.)
GlaxoSmithKline plc (U.K.)
WOCKHARDT (Mumbai)
Novo Nordisk A/S (Denmark)
Glenmark Pharmaceuticals Limited (India)
Cipla Inc. (U.S.)
Bausch Health Companies Inc. (Canada)
Otsuka America Pharmaceutical, Inc. (U.S.)
Johnson & Johnson Private Limited (U.S.)
Takeda Pharmaceutical Company Limited (Japan)
Sumitomo Corporation (Japan)
Biocon (India)

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