Neurotherapeutic Drugs Market to Witness an Outstanding Growth by 2024

Neurological disorders are referred to as the change in the functioning of nervous system. Etiology of neurological disorder includes structural or biochemical change in the activity of brain, spinal cord and other nerves. Neurological disorders can be segmented primarily into three categories that include peripheral nervous system disorders (PNS) disorder, autonomous nervous system (ANS) disorder and central nervous system (CNS) disorders. Disorders those are associated with nerve and ganglia outside the brain and spinal cord are categorized as peripheral nervous system disorder. Likewise, disorder associated with brain and spinal cords are included in central nervous system disorders. Visceral fibers and efferent fibers are found in autonomic nervous system which acts as a control system for the CNS and PNS.

Disorders in the above mentioned fiber are termed as autonomous nervous system disorder. Most of the neurologic disorders involve progressive decline in mental and physical capabilities that disturbs patient’s life. This change in activity of brain can be witnessed due to brain injury, changing lifestyle, genetic disorders, congenital health problems and other traumas. Patients suffering from these neurological disorders witnessed varied symptoms such as muscle weakness, paralysis, poor condition, pain and other disorders. Alzheimer’s, Parkinson’s, Huntington’s disease, neurological cancers, epilepsy and others traumas are the common neurological disorder.

Hence, neurotherapeutic drugs are prescribed for the management of such anxiety causing disorders. Few of the neurological therapeutic products that are in development phase includes MEM 3454, MKC-231, NS2330, 189254, Phosiphen, IL-13-PE38, 737004, 234551, CEP 1347, KW-6002, SLV308, MT 100, MT 300 and BIBN4096 BS.

An increase in the geriatric population base worldwide, rising investments in R&D, and a deeper understanding of neurologic diseases are aiding the growth of the neurotherapeutic drugs market globally. The aged are more prone to brain disorders – this thus makes the growing geriatric population a high-impact driver for the demand for and sales of neurotherapeutic drugs worldwide. The World Health Organization has reported that by 2020, about 14.1% of the global population will suffer from some form of neurologic disorder. This will impel the production of neurotherapeutic drugs.

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Some of the neurological drugs that occupy the lion’s share of the neurotherapeutic drugs market include Alzheimer’s, peripheral nerve disorders and neurological cancers. Moreover, a large number of drugs are also available in the market for the treatment of the other neurological conditions such as stroke, dementia, migraine, Huntington’s disease, movement disorders, epilepsy and others. As supervision of both severe and persistent condition of the above mentioned disorder is a challenge to the patient and healthcare industry. Hence, a number of neurotherapeutic drugs are available in the market or in the clinical trial phases.

Geographically, North America stands as the largest neurotherapeutic drugs market due to major and regular technological advancements. The region is marked by the presence of top market players. Moreover, with heightened awareness among people about various neurological conditions and government initiatives, the growth of the neurotherapeutic drugs treatment market is North America is projected to remain steady. Europe held the second largest neurotherapeutic drugs treatment market trailed by Asia-Pacific and Rest of the World. APAC is regarded as an emerging market as several countries in the region are poised on the brink of strong economic growth (healthcare facility upgradation, healthcare infrastructure, and product expansion). These countries include India, China, Japan, and Malaysia.

Various key players contributing to the global neurotherapeutic drugs treatment market comprises Abbott Laboratories, Inc., Becton, Dickinson and Company, Novartis AG, Johnson & Johnson, Pfizer, Inc., Sanofi-Aventis, Biogen, Inc., GlaxoSmithKline, Inc., AstraZeneca plc and Merck & Co.

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