Press release
Neurodegenerative Disease Market Combating Chronic Degeneration Facing the Rising Tide: Challenges and Opportunities
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Neurodegenerative Disease Market- by Drug Class (NMDA, SSRIs and Dopamine Inhibitors), Application (Parkinson's Disease, Huntington Disease, Amyotrophic Lateral Sclerosis and Alzheimer's Disease), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
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According to the latest research by InsightAce Analytic, the global Neurodegenerative Disease market will be valued at US$ 41.79 Billion in 2021. It is expected to reach US$ 60.52 Billion by 2030, with a CAGR of 4.3% during a forecast period of 2024-2031.
The Burden of Neurodegenerative Diseases
Neurodegenerative diseases pose a significant challenge to global healthcare systems, impacting not only healthcare costs but also the physical and mental well-being of millions. These diseases affect neurons in the brain, leading to progressive decline. Alzheimer's disease is the most common form, with an estimated 5.8 million cases of
Alzheimer's dementia expected in the United States alone in 2019. Other notable neurodegenerative diseases include Parkinson's disease, multiple sclerosis, amyotrophic lateral sclerosis (ALS), spinal muscular atrophy (SMA), and Huntington's disease.
The Neurodegenerative Disease Treatment Market
The neurodegenerative disease treatment market encompasses services and medications aimed at managing these conditions. The primary driver of market growth is the rising incidence of neurodegenerative diseases, largely due to the aging population. As people live longer, the risk of developing these age-related diseases increases. This growing patient population fuels demand for treatment options.
Challenges in Developing Treatments
Despite the market growth, developing effective treatments for neurodegenerative diseases presents significant challenges. Clinical trials for these diseases often have high failure rates, hindering the R&D (research and development) process. Many pharmaceutical companies invest heavily in R&D for neurodegenerative treatments, but currently, there are few approved medications.
I hope this revision improves readability by separating the explanation of neurodegenerative diseases from the market analysis and highlighting the specific drivers and challenges.
North America is anticipated to contribute to the Neurodegenerative Disease market. The North American market's growth is driven by factors such as rising medicine demand, high costs, rising R&D expenditure, and favorable health reimbursement policies.
In addition, the Asia Pacific Neurodegenerative Disease market is expected to register significant growth because of the aging population, high frequency of neurological illnesses, and increased demand for medications for Parkinson's and Alzheimer's disease in China and Japan.
Major market players operating in the Neurodegenerative Disease market include
Novartis, Pfizer, Merck Serono, Biogen Idec, TEVA, UCB, Boehringer Ingelheim, Sanofi, GlaxoSmithKline and Other Key Players
Recent collaborations and agreements in the market:
• In March 2019, Novartis said that Mayzent had been approved by the FDA (siponimod). It is regarded as the first approved therapy for those with secondary progressive multiple sclerosis (SPMS). It is intended for patients who are 15 years of age and older.
• In January 2018, AVONEX, TYSABRI, and TECFIDERA began to be jointly promoted by Biogen Japan Ltd. and Eisai Co., Ltd. Biogen Japan produces them as a multiple sclerosis treatment. They will provide details on how these medications are used in hospitals.
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Market Segments
Global Neurodegenerative Disease Market, by Drug Class, 2022-2030 (Value US$ Mn)
• NMDA
• SSRIs
• Dopamine Inhibitors
Global Neurodegenerative Disease Market, by Application, 2022-2030 (Value US$ Mn)
• Parkinson's Disease
• Huntington Disease
• Amyotrophic Lateral Sclerosis
• Alzheimer's Disease
Global Neurodegenerative Disease Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Neurodegenerative Disease Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Neurodegenerative Disease Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Neurodegenerative Disease Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Neurodegenerative Disease Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Neurodegenerative Disease Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Neurodegenerative Disease market
To receive an industry overview and future trends of the Neurodegenerative Disease market
To analyze the Neurodegenerative Disease market drivers and challenges
To get information on the Neurodegenerative Disease market value (US$ Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Neurodegenerative Disease market industry
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions.
Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses.
We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products.
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