As per the latest report by IMARC Group, titled "Neurodegenerative Disease Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global neurodegenerative disease treatment market size reached US$ 70.9 Billion in 2022. Neurodegenerative diseases characterized are by the progressive degeneration of nerve cells, leading to cognitive and motor function loss. These conditions often result in significant physical and emotional distress for the patient and can have a devastating impact on their quality of life. Some of the early symptoms of the disease include memory loss, difficulty in thinking and problem-solving, mood swings, tremors, and difficulty in movement. Neurodegenerative disease treatments focus on slowing or halting the progression of the disease and involve medications, physical therapy, or surgical interventions. The growing cases of neurodegenerative diseases have compelled researchers to develop new and effective methods of diagnosing and treating these conditions. Among these, molecular diagnostics, such as biomarkers and imaging spectroscopy, are witnessing significant popularity.
Global Neurodegenerative Disease Treatment Market Trends:
The surging alcohol consumption has considerably increased the incidence of tumors and stroke, which represents one of the primary factors boosting the market growth. This is further bolstered by the burgeoning geriatric population and the growing prevalence of neurodegenerative diseases. Besides this, the increasing demand for molecular diagnostic treatments for the early detection of neurodegenerative disorders and rising healthcare expenditure are providing an impetus to the market growth. In line with this, researchers are utilizing neuropathological and molecular biology techniques to better understand the classification of these diseases and develop minimally invasive (MI) screening tests, which, in turn, is boosting the market growth. Additionally, governments of several countries are organizing health education campaigns to raise awareness about the risk factors of neurodegenerative diseases, which is fueling the market growth. Apart from this, the rapidly expanding healthcare infrastructure and increasing disposable income are creating a positive outlook for the market. Looking forward, the market value is projected to reach US$ 97.2 Billion by 2028, expanding at a CAGR of 5.2% during 2023-2028.
- Based on the indication, the market has been segregated into multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, spinal muscular atrophy (SMA), Huntington’s disease, and others.
- On the basis of drug type, the market has been divided into N-methyl-D-aspartate receptor antagonists, selective serotonin reuptake inhibitors, dopamine inhibitors, and others.
- By the route of administration, the market is categorized into oral, injectable, and others.
- Based on the distribution channel, the market is divided into hospital pharmacies, retail pharmacies, and others.
- Regionally, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Biogen, Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Merck & Co. Inc., Novartis AG, Pfizer Inc., Sanofi S.A, Teva Pharmaceutical Industries Ltd. and UCB S.A.
|Base Year of the Analysis
||Indication, Drug Type, Route of Administration, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Biogen, Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Merck & Co. Inc., Novartis AG, Pfizer Inc., Sanofi S.A, Teva Pharmaceutical Industries Ltd. and UCB S.A
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