The global neurodegenerative disease market size was valued at USD 40,125 million in 2021, and it is expected to reach USD 53,275 million by 2030, registering a CAGR of 3.2% during the forecast period 2022–2030
/EIN News/ — New York, United States, May 27, 2022 (GLOBE NEWSWIRE) — Neurodegenerative diseases are a large and diverse group of disorders characterized by progressive deterioration of the function and structure of the central nervous system or enteric nervous system. Neurodegenerative diseases, such as Parkinson’s Disease, Multiple Sclerosis, Alzheimer’s Disease, and Huntington’s disease, have risen globally. Consequently, the increasing prevalence of these diseases is the primary factor driving market growth, with the rising geriatric population contributing to this growth. The NIH projects that by the year 2030, approximately 1.2 million Americans will have Parkinson’s disease. It is the second most prevalent form of neurodegeneration in the United States.
In addition, according to Alzheimer’s Disease International, there will be over 50 million people with dementia worldwide in 2020. It is predicted that this figure will be twice every 20 years, reaching 82 million in 2030 and 152 million in 2050. In addition, the majority of the increase will occur in developing nations. By 2050, 71 percent of people with dementia will reside in low- and middle-income countries, up from 60 percent today. In China, India, and the South Asian and western Pacific regions, the elderly population has increased at the fastest rate. Consequently, the increasing prevalence of dementia is anticipated to stimulate market expansion in the coming years.
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Increasing Frequency of Neurological Disorders to Drive the Global Neurodegenerative Disease Market
As the global population and life expectancy have increased, so has the prevalence of neurological disorders. According to the Parkinson’s Foundation, by 2020, more Americans will be characterized with Parkinson’s disease than with multiple sclerosis, muscular dystrophy, or Lou Gehrig’s disease combined. In 2019, the Alzheimer’s Association estimated that approximately 5.8 million Americans live with Alzheimer’s dementia. This figure reflects an estimated
According to the NORD, approximately 30,000 Americans are estimated to have Huntington’s disease in 2019, and an additional 200,000 are at risk of developing health problems. The preponderance of these diseases among people of all races, genders, and geographic origins increases as the global population grows. The numbers suggest that neurodegenerative disorders have been on the rise, contributing to the market’s growth during the forecast period.
Increasing Aging Population to Provide Lucrative Opportunities for the Global Neurodegenerative Disease Market
Currently, neurological diseases are the leading cause of disability. Aging is projected to increase the frequency of neurodegenerative diseases such as Parkinson’s disease (PD), Alzheimer’s, Multiple Sclerosis, and Huntington’s. According to the World Aging 2020 Report, 727 million people worldwide aged 65 or older in 2020. Between 2020 and 2050, the world’s older population is projected to increase in every region. The global population aged 65 or older is projected to increase from 9.3 percent in 2020 to approximately 16 percent in 2050. By 2020, there will be around 1.5 billion people aged 65 or older. This increase in the elderly population is predicted to boost the prevalence of neurodegenerative disorders and creates enormous potential markets.
Impact of COVID-19:
Due to the COVID-19 pandemic, many organizations faced a significant financial burden, which increased their preference for low-cost generics. In addition, the pandemic had a negative impact on the introduction of new products, which are believed to be the most influential factor in the growth of the studied market. Despite a robust late-stage product pipeline, the COVID-19 pandemic has impacted the workflows of clinical trials, R&D, and pipeline products, resulting in sluggish growth over the forecast period.
Consequently, the global market for neurodegenerative diseases experienced a slight negative effect in the short time frame, mainly owing to the reduction of healthcare services by medical facilities and the slowing of research activities in neurodegenerative diseases during the outbreak of COVID-19 in 2020. As the number of COVID-19 cases declines, however, it is anticipated that global market growth will recover and accelerate.
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The Neurodegenerative Diseases Market is divided into North America, Asia-Pacific, Europe, South America, Middle East, and Africa. The North American region dominates the market, with a revenue of USD 16,915 million in 2021. It is expected to reach a value of USD 21,125 million by 2030, growing at a CAGR of 2.5%. The rise in fundraising for neurodegenerative disease research, the increase in disease incidence and perception, and the appearance of key market players are the primary factors driving the growth of the neurodegenerative diseases market in the United States.
The National Institute of Health (NIH) has increased funding for neurodegenerative diseases like Alzheimer’s and Parkinson’s. In 2020, neurodegenerative disease funding amounted to USD 4,021 million, and in 2021, it increased to USD 4,110 million. The increasing funding for research is anticipated to entice the majority of the market’s key players, resulting in the market’s rapid expansion.
Europe is the second-largest market, with a revenue of USD 11,500 million in 2021, and is expected to reach a value of USD 15,675 million by 2030 with a CAGR of 3.5% over the forecast period. Germany has a strong base of global companies working on developing neurodegenerative drugs. Moreover, due to the increasing prevalence of these disorders, disease awareness and an increase in drug launches by major pharmaceutical companies in the country are expected to drive the market studied.
- The neurodegenerative disease market was valued at USD 40,125 million in 2021, and it is expected to reach USD 53,275 million by 2030, registering a CAGR of 3.2% during the forecast period (2022–2030).
- By indication type, the neurodegenerative disease market is divided into Parkinson’s disease, Alzheimer’s disease, multiple sclerosis, Huntington’s disease, and other indication types. The multiple sclerosis segment dominated the market, with a revenue of USD 25,680 million in 2021. It is expected to reach USD 29,360 million by 2030, with a CAGR of 1.5% over the forecast period.
- By drug type, the neurodegenerative disease market is divided into N-methyl-D-aspartate receptor antagonists, cholinesterase inhibitors, dopamine agonists, immunomodulatory drugs, and other drug types. The immunomodulators segment dominated the market, with a revenue of USD 24,600 million in 2021. It is expected to reach USD 25,730 million by 2030 to register a CAGR of 0.5% over the forecast period.
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Global Neurodegenerative Disease Market: Segmentation
By Indication Type
- Parkinson’s Disease
- Alzheimer’s Disease
- Multiple Sclerosis
- Huntington Disease
- Other Indication Types
By Drug Type
- N-methyl-D-aspartate Receptor antagonists
- Cholinesterase Inhibitors
- Dopamine Agonists
- Immunomodulatory Drugs
- Other Drug Types
- North America
- South America
- The Middle East and Africa
Detailed Table of Content
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Neurodegenerative Disease Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
126.96.36.199 North America
188.8.131.52 Central and South America and the Caribbean
184.108.40.206 The Middle East and Africa
5 Indication Type Overview
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Parkinson’s Disease
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Alzheimer’s Disease
5.3.1 Market Size & Forecast (Value & Volume)
5.4 Multiple Sclerosis
5.4.1 Market Size & Forecast (Value & Volume)
5.5 Huntington Disease
5.5.1 Market Size & Forecast (Value & Volume)
5.6 Other Indication Types
5.6.1 Market Size & Forecast (Value & Volume)
6 Drug Type Overview
6.1.1 Market Size & Forecast (Value & Volume)
6.2 N-methyl-D-aspartate Receptor antagonists
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Cholinesterase Inhibitors
6.3.1 Market Size & Forecast (Value & Volume)
6.4 Dopamine Agonists
6.4.1 Market Size & Forecast (Value & Volume)
6.5 Immunomodulatory Drugs
6.5.1 Market Size & Forecast (Value & Volume)
6.6 Other Drug Types
6.6.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.6 Rest of Central and South America and the Caribbean
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.5 The U.K.
7.4.7 The Rest Of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.7 South Korea
7.5.8 Rest Of APAC
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 South Arabia
7.6.4 The UAE
7.6.8 The Rest Of Middle East
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.4 South Africa
7.7.5 The Rest Of Africa
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 Abbvie Inc.
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.4 Amneal Pharmaceuticals Inc.
8.5 Boehringer Ingelheim International GmbHF
8.6 Hoffmann-La Roche
8.7 Merck & Co. Inc.
8.8 Novartis AG
8.9 Pfizer Inc.
8.10 Teva Pharmaceuticals Ltd
8.11 UCB SA
8.12 Biogen Inc.
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
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- In January 2020, Novartis announced the acquisition of Cadent Therapeutics to expand its neuroscience p Merck announced receiving approval from the United States Food and Drug Administration for Belsomra to treat insomnia in patients with mild-to-moderate Alzheimer’s disease. Portfolio in schizophrenia and other movement disorders.
- In June 2021, Biogen and Eisai Co. Ltd announced the receiving of accelerated approval for their Alzheimer’s disease treatment drug, ADUHELM, from the US Food and Drug Administration.
- In July 2021, UCB announced a collaborative worldwide license agreement with Roche and Genentech to develop and commercialize UCB0107 in Alzheimer’s Diseases.
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This news story originally appeared at Books - Reality Syndicate Viewers on 29 May 2022