Neurodegenerative disorder therapeutics market comprises of sales of neurodegenerative disease therapeutics products & related services for the neurodegenerative disorders. Neurodegenerative disease is a heterogeneous group of diseases, which is characterized by the progressive degeneration of the structure & function of the central nervous system & peripheral nervous system. Neurodegenerative diseases include Amyotrophic Lateral Sclerosis (ALS), Parkinson’s disease (PD), Alzheimer’s disease (AD), and Huntington’s disease (HD). Increase in the prevalence of neuro-degenerative diseases among the global populace drives the growth of neurodegenerative disorder therapeutics market.
According to study, “Neurodegenerative Disorder Therapeutics Market Global Report 2020-30” the key companies operating in the global neurodegenerative disorder therapeutics market are Biogen, Teva Pharmaceutical Industries Ltd., Orion Corporation, Merck Sharp & Dohme Corp, Novartis AG, UCB S.A., Lundbeck., Denali Therapeutics, ACADIA Pharmaceuticals Inc., Mitsubishi Tanabe Pharma Corporation, Aquinnah Pharmaceuticals, AZTherapies, Inc., Prevail Therapeutics. Key players are focusing on the development of novel drugs for the treatment of the disease owing to the rise in prevalence of neurodegenerative diseases. By offering the complete analysis of the market’s competitive landscape and with information on the products/services offered by the companies, this industry analysis report will allow the customers to identify new growth opportunities & design innovative strategies to improve their share in the market.
Based on drug class, market is segmented as interferons, immunomodulator, dopamine agonists, decarboxylase inhibitors and others. Based on disease indication, market is segmented as Parkinson’s disease, multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and others. Based on route of administration, market is segmented as transdermal, injection, oral, and others. Oral segment is anticipated to exhibit substantial growth rate due to rise in preference of oral drugs during the forecast period. In addition, based on end-user, market is segmented as retail pharmacy, hospital pharmacy, online pharmacy and others.
The market is driven by rise in aging population, followed by increase in risk of neurological disorders such as Alzheimer’s and Parkinson’s disease, rise in ageing population, and increase in understanding of genetic basis & molecular pathology of neurodegenerative disease. However, lack of effective drugs & therapies and increase in failure rate of neurodegenerative drugs in clinical trials may impact the market. Moreover, increase in scope for adoption of neurodegenerative disorders therapeutics in emerging nations and growth in development of modern therapies for neurodegenerative disorders through gene & cell therapies are key opportunities for market.
Based on geography, the North-American region dominates the global market owing to increase in awareness about the neurodegenerative disorder in the region. The European and Asian-Pacific regions are estimated to witness higher growth rate due to active government’s support and rise in demand for Alzheimer’s disease and Parkinson’s disease drugs over the forecast period. It is predicted that future of the global market will be bright as a result of rise in prevalence of neurodegenerative disorder during the forecast period. The global neurodegenerative disorder therapeutics market was valued at US $13.35 billion in 2019. It is likely to grow at a CAGR of 8.12% and reach US $18.23 billion by 2023.
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Ankur Gupta, Head Marketing & Communications