Neurodegenerative Disease Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: September 29, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 42.6 billion |
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Revenue forecast in 2030 |
US$ 77.0 billion |
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Growth Rate |
CAGR of 6.8% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
By Drug Class, By Disease Indication, By Route of Administration and By Region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global neurodegenerative disease drugs market was pegged at US$ 42.6 billion in 2021 and is expected to witness a CAGR of 6.8% during the forecast period.
Market Fundamentals
A neurodegenerative disease is a condition that affects neurons in the brain, causing memory loss, irritability, anxiety, depression, and agitation. Each neurodegenerative disease has a different treatment. Numerous body functions, such as balance, movement, communication, breathing, and heart function, are impacted by degenerative nerve diseases. Many of these disorders are hereditary. Sometimes the cause of n neurodegenerative disease is a medical problem such as alcoholism, a tumor, or a stroke. Other factors, which can cause neurodegenerative disorders are malnutrition, infections, lifestyle or environmental health issues, congenital abnormalities or disorders, brain injury, spinal cord injury, or nerve injury. The majority of neurodegenerative diseases are treated symptomatically, such as with dopaminergic therapy for Parkinson's disease and movement disorders, analgesics and anti-inflammatory drugs for pain and neuronal infections, cholinesterase for cognitive disorders, antipsychotic drugs for dementia, etc.
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Market Dynamics
Increasing public awareness, an increase in the prevalence of neurological disorders, and a robust product pipeline for the treatment of neurodegenerative diseases are the main drivers of market expansion. However, factors that are anticipated to impede market growth are strict regulatory requirements and the patent expiration of products that treat neurodegenerative diseases.
Market Ecosystem
The global neurodegenerative disease drugs market has been analyzed from four perspectives: by drug class, by disease indication, by route of administration and by region.
Neurodegenerative Disease Drugs Market by Drug Class
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The global market for neurodegenerative disease drugs according to drug class is grouped into immunomodulators, dopamine agonists, interferons, decarboxylase inhibitors. Immunomodulators are medications that can promote immune function by altering the immune system's response. Immunomodulators work more selectively by focusing only on particular immune system components, which reduces the risk of consequences from immunological malfunction. Interferons are medications that assist immune system to detect and destroy infectious cells. They can block the growth and spread of infectious cells as well as prevent other cells from contracting the diseases. Immunomodulatory drugs have high demand in treatment of multiple sclerosis. The rising prevalence of Parkinson’s disease increases demand for dopamine agonists (DA) as it can delay the administration of levodopa medication and reduces the undesirable motor fluctuations.
Neurodegenerative Disease Drugs Market by Disease Indications
Based on disease indication the global market for neurodegenerative disease drugs is segmented into Parkinson’s disease, multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and others. The Alzheimer’s disease segment has dominated the market in terms of disease indications. Alzheimer causes the brain cells to deteriorate which results in degeneration and death of brain cells. It is the main cause of dementia, which is characterized by a steady decline in mental, behavioral, and social abilities and impairs a person's capacity for independent functioning. A hereditary condition known as spinal muscular atrophy (SMA) affects the peripheral nervous system, the brain, and voluntary muscle movement (skeletal muscle). When muscles are not stimulated by nerve cells, they deteriorate causing mobility issues. As the disease prevalence and mortality rate are subsequently rising, along with the growing socioeconomic burden, there will be increase in the necessity of introducing novel drugs in the market.
Neurodegenerative Disease Drugs Market by Region
Geographically, the global market for neurodegenerative diseases drugs has been segmented into: North America, Europe, Asia Pacific, and the Rest of the World. The market has been dominated by North America. Favorable healthcare reimbursement systems, rising costs for research and development, high prices, and rising demand for drugs to treat neurodegenerative disorders are all factors that have contributed to this expansion. The government's active support, greater interest in drug development, and the presence of generous reimbursement schemes, on the other hand, distinguish the European market. During the forecast period, the market will progressively grow in Asia Pacific. It would take place because conditions like Parkinson's and Alzheimer's are becoming more common.
Competitive Landscape
Some of the prominent players operating in the global neurodegenerative disease drugs market are
Growing demand for neurodegenerative disease drugs is owing to the increased number of patients with neurological diseases, rising interest in research and development of drugs, and strong presence of pipeline drugs.
Some of the prominent players operating in the global neurodegenerative disease drugs market are Novartis AG, Sanofi S.A., Orion Pharma Ltd., F. Hoffman-La Roche Ltd, Teva Pharmaceuticals Industries Inc., ACADIA Pharmaceuticals Inc., Merck & CO. Inc., Pfizer Inc., H. Lundbeck A/S, Biogen Inc., UCB S.A. and Boehringer Ingelheim International GmbH among others.
The market is expected to witness a CAGR of 6.8 % during the forecast period.
Factors that are anticipated to impede market growth are strict regulatory requirements and the patent expiration of products that treat neurodegenerative diseases.
*Insights on financial performance is subject to availability of information in public domain