IMARC Group’s latest report, titled “Neurodegenerative Disease Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global neurodegenerative disease treatment market size reached US$ 40.90 Billion in 2020. Neurodegenerative diseases primarily affect the peripheral nervous system (PNS) or neurons in the human brain. They are incurable diseases that lead to progressive degeneration of the structure that is essential for mobility, coordination, strength, sensation and cognition. They are majorly caused by the deposition of toxic proteins in the brain, obstructing the normal functioning of mitochondria in the brain. Alzheimer’s, Parkinson’s, and Huntington’s are the common neurodegenerative diseases that cause permanent loss of neurons and are considered genetic, following the autosomal dominant pattern of inheritance. However, there are treatments that help relieve some of the physical or mental symptoms associated with these diseases. The treatment is mainly based on biomarkers and imaging spectrometry, which aids in the detection of the disease at an early stage and prevents progression.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Neurodegenerative Disease Treatment Market Trends:
The global neurodegenerative disease treatment market is primarily driven by the rising prevalence of neurological disorders, especially among the geriatric population. The number of new cases has increased in recent years due to the growth in population and their average lifespan. The market is further propelled by the growing awareness among the masses via various health education campaigns organized by governmental and non-governmental organizations (NGOs) about the benefits of neurodegenerative disease treatments. This has prompted manufacturers to invest in the research and development (R&D) activities for the development of minimally invasive (MI) screening tests and neuropathological methods that facilitate the classification of these diseases. Moreover, the introduction of molecular diagnostic methods for the detection of these diseases is also positively impacting the market growth. On account of these factors, the market is expected to exhibit a CAGR of 7.50% during the forecast period (2021-2026).
- Based on the indication, the market has been categorized into multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, spinal muscular atrophy (SMA), and Huntington’s disease and others. At present, Alzheimer’s disease holds the majority of the total market share.
- On the basis of the drug type, selective serotonin reuptake inhibitors represent the most popular drug type. Other major segments are N-methyl-D-aspartate receptor antagonists, and dopamine inhibitors.
- The market has been divided based on the route of administration into oral, injectable and others. Amongst these, oral exhibits a clear dominance in the market.
- On the basis of the distribution channel, the market has been segmented into hospital pharmacies, retail pharmacies and others. Hospital pharmacies are the largest distribution channel.
- On the geographical front, North America (the United States and Canada) holds the leading position in the market. Other major regions are 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 been examined, with some of the key players being Biogen Inc., 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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