Press release
Neurodegenerative Disease Market Key Players Analysis - Novartis, Pfizer, Merck Serono, Biogen Idec, TEVA, UCB, Boehringer Ingelheim.
Neurodegenerative Disease Market
According to the latest research by InsightAce Analytic, the global Neurodegenerative Disease market will be valued at US$ 41.2 Billion in 2022. It is expected to reach US$ 59.19 Billion by the year 2031, with a CAGR of 4.2% during a forecast period of 2023-2031.
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Neurodegenerative diseases exert a profound impact on both the mental and physical health of affected individuals, while also contributing significantly to global healthcare expenditures. These disorders comprise a broad spectrum of conditions characterized by the progressive deterioration of neurons in the brain, with Alzheimer's disease being the most prevalent. In 2019, the United States alone reported approximately 5.8 million cases of Alzheimer's dementia. Additional neurodegenerative conditions include Parkinson's disease, Huntington's disease, spinal muscular atrophy, multiple sclerosis, multiple system atrophy, and amyotrophic lateral sclerosis.
The neurodegenerative disease market encompasses the sale of therapeutic drugs and related services aimed at managing these conditions. A key driver of market growth is the rising incidence of neurodegenerative diseases, primarily driven by the aging global population. These conditions are chronic and progressive, leading to the gradual loss of neuronal function and, ultimately, cell death. As the prevalence of such disorders increases, so too does the demand for effective treatment options.
Despite robust investment in research and development (R&D), the market continues to face considerable challenges. High failure rates in clinical trials and the limited number of therapies that have achieved regulatory approval remain significant barriers to advancement. Nonetheless, ongoing R&D efforts by pharmaceutical and biotechnology companies underscore the industry's commitment to addressing the unmet needs within this critical therapeutic area.
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North America is anticipated to hold a prominent position in the growth trajectory of the neurodegenerative disease market. This expansion is primarily attributed to rising demand for therapeutic medications, elevated healthcare expenditures, substantial investments in research and development (R&D), and supportive health reimbursement frameworks across the region.
Concurrently, the Asia Pacific market is expected to witness robust growth over the forecast period. Key factors driving this regional expansion include a rapidly aging population, increasing incidence of neurological disorders, and escalating demand for effective treatments for conditions such as Parkinson's disease and Alzheimer's disease. Notably, countries such as China and Japan are projected to contribute significantly to market growth, owing to their large patient populations and expanding healthcare infrastructure.
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
Read Overview Report- https://www.insightaceanalytic.com/report/global-neurodegenerative-disease-market/1097
About Us:
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 competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
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