PUBLISHER: The Business Research Company | PRODUCT CODE: 1426225
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426225
Neurodegenerative disorder therapeutics encompass medications or gene therapies designed to therapeutically address patients with neurodegenerative disorders. These aim to directly address underlying disease pathways, focusing on neuroprotection, neurorestoration, and managing symptoms.
The primary drug categories within neurodegenerative disorder therapeutics include N-methyl-D-aspartate receptor drugs, selective serotonin reuptake inhibitors, dopamine inhibitors, and other classes. Selective serotonin reuptake inhibitors, commonly used in treating depression and certain mental illnesses, have diverse applications across conditions such as Parkinson's disease, Alzheimer's disease, multiple sclerosis, Huntington's disease, and other related indications. These medications are typically distributed through hospital pharmacies, retail pharmacies, and online pharmacy channels.
The neurodegenerative disorder therapeutics market research report is one of a series of new reports from The Business Research Company that provides neurodegenerative disorder therapeutics market statistics, including neurodegenerative disorder therapeutics industry global market size, regional shares, competitors with a neurodegenerative disorder therapeutics market share, detailed neurodegenerative disorder therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the neurodegenerative disorder therapeutics industry. This neurodegenerative disorder therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The neurodegenerative disorder therapeutics market size has grown strongly in recent years. It will grow from $18.53 billion in 2023 to $20.04 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed in the historical period can be credited to several factors, including an aging population, an uptick in the occurrence of neurodegenerative disorders, longer life expectancies, increased investments from pharmaceutical companies, and heightened awareness and advocacy efforts.
The neurodegenerative disorder therapeutics market size is expected to see strongly grown in the next few years. It will grow to $28.33 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. Anticipated growth in the forecast period is driven by several factors, notably the increasing demand for personalized medicine and targeted therapy, alongside a rise in available clinical trials and healthcare spending. Significant trends expected during this period encompass disease-modifying treatments, non-pharmacological interventions, the integration of telemedicine and remote monitoring, ongoing technological advancements, precision-based therapeutics, digital health solutions, and the implementation of biomarker-driven trials.
The expanding occurrence of neurodegenerative disorders globally drives the growth of the market for neurodegenerative disorder therapeutics. The rise in neurodegenerative conditions is closely linked to the increasing elderly population. As per World Population Prospects, the elderly, aged 60 and above, will reach 2.1 billion by 2050, with the number of individuals over 80 years old tripling to 425 million. Reports from the Alzheimer's Association reveal that currently, around 5.8 million Americans suffer from Alzheimer's disease, projected to surge to approximately 14 million by 2050. This heightened prevalence within aging demographics elevates the demand for therapeutics, consequently propelling the neurodegenerative disorder therapeutics market.
Anticipated growth in the neurodegenerative disorder therapeutics market is underpinned by increased investments in research and development (R&D). Governments and organizations are channeling substantial resources into neurodegenerative disorder research due to various compelling reasons, including rising prevalence, significant unmet medical needs, economic implications, and global health initiatives. For instance, as of October 2021, PhRMA reported over 260 ongoing medications in the development pipeline for 29 neurodegenerative diseases. Additionally, there are 64 medications being developed for Parkinson's disease, a condition affecting nearly one million Americans, with expected growth to 1.2 million by 2030. This augmented investment in R&D is poised to sustain growth in the neurodegenerative disorder therapeutics market.
Manufacturers of neurodegenerative disorder therapeutics are forging strategic partnerships with governmental and non-governmental entities to advance therapeutic solutions for various neurodegenerative diseases. Collaboration among market players is intensifying to bolster research and development capabilities, aiming to innovate new and more efficacious treatments for these disorders. For instance, in July 2022, UK-based NRG Therapeutics partnered with Domainex to jointly develop novel small molecule disease-modifying medications targeting Parkinson's disease, motor neurone disease (MND), and other chronic neurodegenerative conditions.
Key players in the neurodegenerative disorder therapeutics market are leveraging innovative techniques, such as the Neurofilament Light Chain (NfL) blood test, to gain a competitive edge. This test enables medical professionals to detect and confirm signs of neurodegenerative disorders, enhancing diagnostic accuracy and treatment planning. Labcorp, a US-based company, introduced the Neurofilament Light Chain (NfL) blood test in July 2022, allowing for direct evidence of neuronal damage. Elevated NfL levels serve as indicators of neuronal damage caused by conditions like multiple sclerosis, Alzheimer's, Parkinson's disease, or brain injuries such as concussions. NfL, a neuron-specific protein, is a non-specific biomarker for various neurodegenerative conditions like Alzheimer's disease, multiple sclerosis, and amyotrophic lateral sclerosis (ALS), released in response to neuronal injury and neurodegeneration.
In January 2022, VitalPath, a US-based manufacturer of catheters and catheter shafts acquired Modern Catheter Technologies for an undisclosed amount. The acquisition will increase VitalPath's capacity for growth, bringing its entire manufacturing footprint to more than 80,000 square feet, including 35,000 square feet of ISO 7 and 8 cleanroom space. Modern Catheter Technologies is a US-based manufacturer of microcatheters used in neurovascular and electrophysiology.
Major companies operating in the neurodegenerative disorder therapeutics market include Biogen Inc., Pfizer Inc., Novartis International AG, Sanofi S.A., Teva Pharmaceutical Industries Ltd., UCB S.A., F. Hoffmann-La Roche Ltd., ACADIA Pharmaceuticals Inc., H. Lundbeck A/S, Boehringer Ingelheim International GmbH, Merck Serono S.A., Orion Corporation, Mitsubishi Tanabe Pharma America, Allergan PLC, GlaxoSmithKline PLC, AbbVie Inc., Eli Lilly and Company, Celgene Corporation, Neuro-Hitech Inc., Bayer Schering Pharma AG, Amarin Corporation PLC, AstraZeneca PLC, Alector Inc., Yumanity Therapeutics Inc., Yangtze River Pharmaceutical Group Co. Ltd., Chongqing Zein Pharmaceutical Co. Ltd., Eisai Co. Ltd., Bristol Myers Squibb Company, AB Science S.A., Amylyx Pharmaceuticals Inc., Genentech Inc., GenSight Biologics S.A., AC Immune SA, Annexon Bioscience Inc., BioArctic Neuroscience AB, Cajal Neuroscience Inc., Cognito Therapeutics Inc., Grifols S.A., New Equilibrium Biosciences Inc., Prothena Corporation PLC, Tessera Therapeutics Inc., Vigil Neuroscience Inc.
North America was the largest region in the global neurodegenerative disorder therapeutics market in 2023. The Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the neurodegenerative disorder therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the neurodegenerative disorder therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The neurodegenerative disorder therapeutics market includes revenues earned by entities by correction of pathogenic mechanisms, neuroprotection, neurorestoration, and symptom control. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Neurodegenerative Disorder Therapeutics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on neurodegenerative disorder therapeutics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for neurodegenerative disorder therapeutics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The neurodegenerative disorder therapeutics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.