Comprehensive Market Analysis on Neurodegenerative Disease Market projected to reach USD 69.8 Billion by 2030, includes Partner and Customer Ecosystem | New Developments, Vendor & Technology Assessment

Neurodegenerative Disease Market Scope:

Market size value in 2023 - USD 45.8 Billion
Market size value in 2030 - USD 69.8 Billion
CAGR (2023-2030) - 6.2%
Forecast Period - 2023-2030
Historic Data - 2019
Segments Covered - Indication Type, Drug Type, Distribution Channel & Region
Geographies Covered - North America, Europe, Asia Pacific, and RoW
Sample of Companies Covered - Novartis AG, Pfizer Inc., Sanofi S.A., Teva Pharmaceuticals, UCB SA.

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Browse in-depth TOC on Neurodegenerative Disease Market
146 - Tables
88 - Figures
364 - Pages

Market Dynamics
Drivers:
• Emerging Markets and Healthcare Infrastructure
• Research and Development Investments
• Growing Awareness and Early Diagnosis

Opportunities:
• Advancements in Precision Medicine
• Digital Health Technologies and Remote Patient
Monitoring
• Collaborations and Partnerships in Drug Development

The Neurodegenerative Disease Market is dominated by North America -
North America is poised to emerge as the dominant player in the neurodegenerative disease market, with various factors influencing its growth trajectory. Key drivers include the escalating prevalence of neurological disorders and concerted research and development efforts by both private and government organizations, dedicated to devising effective treatments for these ailments.

The impact of neurodegenerative diseases is notably evident in the statistics provided by the Alzheimer's Association's 2022 Alzheimer's Disease Facts and Figures report. The United States alone saw an estimated 6.5 million Americans aged 65 and older grappling with Alzheimer's dementia in 2022. Furthermore, North America is expected to command a substantial market share, bolstered by a robust presence of pharmaceutical manufacturers and an evolving paradigm of care for patients afflicted by neurodegenerative diseases.

The proactive stance of regulatory bodies adds impetus to the region's prominence. Notably, the Food and Drug Administration's launch of an action plan in June 2022 specifically targeting rare neurodegenerative diseases, including Amyotrophic Lateral Sclerosis (ALS), stands as a significant stride. This five-year strategy aims to enhance and prolong the lives of individuals grappling with rare neurodegenerative diseases across the nation, focusing on advancing the development of safe and effective medical products and ensuring comprehensive access to innovative treatments.

Additionally, pharmaceutical innovation contributes to the region's growth narrative. Alterity Therapeutics, a company dedicated to developing disease-modifying therapies for neurodegenerative diseases, secured a new US patent in January 2022 for compounds designed to address conditions such as Parkinson's and Alzheimer's. The culmination of numerous drug development initiatives and approvals positions the market for substantial growth in the North American region throughout the forecast period. Consequently, driven by these multifaceted factors, the neurodegenerative disease market is poised for significant expansion in North America.

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Top key players covered in the market report:
3M
AbbVie Inc.
Amneal Pharmaceuticals Inc.
Biogen Ide
Boehringer Ingelheim International GmbH
F. Hoffmann-La Roche Ltd
GlaxoSmithKline
Merck & Co. Inc.
Merck Serono
Novartis AG
Pfizer Inc.
Sanofi S.A.
Teva Pharmaceuticals
UCB SA

Segmentations Analysis of Neurodegenerative Disease Market: -
• By Indication Type
• By Drug Type
• By Distribution Channel
• By Region

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This release was published on openPR.