Neurodegenerative Disease Market

SKU: DMPH2090 | Last Updated On: Sep 28 2022 | Available Formats

>Neurodegenerative Disease Market Expected to reach at a high CAGR of 7.4% by 2029:

Neurodegenerative Disease Market is segmented By Indication Type (Parkinson's Disease, Amyotrophic Lateral Sclerosis, Alzheimer's Disease, Huntington Disease, Others), By Drug Type (N-methyl-D-aspartate Receptor, Selective Serotonin Reuptake Inhibitor, Dopamine Inhibitors, Others), By End-User (Hospitals, Clinics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

 

Neurodegenerative Disease Market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 7.4% during the forecast period (2022-2029).

Neurodegenerative Disease Market

Metrics

Details

Market CAGR

7.4%

Segments Covered

By Indication Type, By Drug Type, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Neurodegenerative diseases such as Alzheimer’s, Parkinson’s, and Huntington’s, among others disorders, affect the neurons in the human brain, leading to the inability of neurons to reproduce themselves. Thus, the death of neurons indicates permanent loss, which cannot be replaced.

Market Dynamics

The growth of the neurodegenerative disease market includes the rising prevalence of neurological disorders, increasing public awareness, a growing geriatric population and a strong product pipeline for neurodegenerative disease treatment.

The rising prevalence of neurodegenerative diseases is expected to drive market growth.

With the growing age, there is a high susceptibility to developing one or other neurodegenerative diseases such as Alzheimer's, Parkinson's, Delirium, Etc. The rising geriatric population drives the global neurodegenerative disease market during the forecast period. For instance, according to the NIH, delirium affects over 14-56% of hospitalized geriatric patients; over 12.5 million patients aged 65 or over yearly suffer delirium. For instance, the Department of Economics and Social Affairs United States data shows that in 2020 the number of people aged 65 and over was around 272 million, which is predicted to reach 1.5 billion by 2050. The geriatric population is around 9.3 % and is predicted to be over 16% until 2050.

Moreover, 1 in 10 people aged 45 and above suffer from Subjective Cognitive Decline, which has led to giving daily activities in 41% of the global geriatric population as per the WHO. Also, nearly 55 million global geriatric population have dementia, with 10 million cases yearly. Furthermore, according to Alzheimer's Disease International, there were over 55 million people worldwide living with dementia in 2020, and it is estimated to reach 78 million in 2030 and 139 million in 2050; the annual global cost of dementia is now above US$ 1.3 trillion and is expected to rise to US$ 2.8 trillion by 2030. In addition, International Parkinson and Movement Disorder Society data indicates that globally around 9.4 million people with Parkinson's Disease in 2020.

The stringent regulatory guidelines and patent expiry are expected to hinder global neurodegenerative disease market growth.

However, the stringent regulatory guidelines for drug development and the expiry of neurodegenerative disease treatment product patents are the major factors that are anticipated to hamper the global neurodegenerative diseases market growth.

Industry analysis.

The global neurodegenerative disease market report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, innovations, new product launches, pricing analysis, and pipeline analysis.

Segment Analysis

The Parkinson's disease segment is expected to dominate the neurodegenerative disease market throughout the forecast period (2022-2029).

Parkinson's disease is expected to grow at the highest CAGR during the forecast period, owing to the rising prevalence of Parkinson's disease and increasing R&D for the treatment of this disease. Parkinson's disease is the second most common age-related neurodegenerative disorder after Alzheimer's. An estimated 10 million people worldwide have Parkinson's disease. The prevalence of the disease ranges from 41 people per 100,000 in the fourth decade of life to more than 1,900 people per 100,000 among those who are 80 and older. According to the Parkinson's Disease Foundation, approximately 10 million people globally are diagnosed with Parkinson's disease. The risk of Parkinson's disease increases with age. According to the Parkinson's Disease Foundation, the medication cost for a patient with the disease is, on average, USD 2,500 a year, and therapeutic surgery costs nearly USD 100,000 per person. The current treatments for Parkinson's, include levodopa and dopamine agonists, which can help manage early motor symptoms associated with the disease. However, as the disease progresses and neurons degenerate, these therapies ultimately become less effective at treating the symptoms. Furthermore, on January 7, 2022, Alembic Pharmaceuticals received final approval from the US health regulator for its generic Entacapone tablets indicated for patients with Parkinson's disease.

Geographical Analysis

The North American region holds the largest market share of the global neurodegenerative disease market.

North America is dominating the global neurodegenerative disease market, accounting for the largest market share in 2021, owing to the increasing incidence of Alzheimer's disease in this region. According to Alzheimer's Association, in 2022, 6.5 million Americans age 65 and older are living with Alzheimer's. By 2050, the number of people aged 65 and older with Alzheimer's may grow to 12.7 million. Also, there are thousands of patients who go undetected. Alzheimer's is the seventh-leading cause of death in the United States in 2020 and 2021. As the US population ages, the number of people living with neurodegenerative diseases continues to grow. An estimated 60,000 Americans are diagnosed with PD each year, as per Parkinson's Foundation. In addition, by the end of 2022, Alzheimer's and other dementias will cost the nation $321 billion, and by 2050, these costs could reach nearly $1 trillion.

Competitive Landscape

The neurodegenerative disease market is highly competitive with the presence of a large number of players, including AbbVie Inc., Amneal Pharmaceuticals Inc., Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche Ltd., GlaxoSmithKline PLC, Merck & Co. Inc., Pfizer Inc., Teva Pharmaceutical, UCB SA, Novartis, among others. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations contributing to the growth of the neurodegenerative disease market globally. For instance, on 16 August 2022, GSK acquired Affinivax, Inc. Also, in May 2022, Pfizer agreed to acquire Biohaven.

Novartis AG

Overview:

Novartis AG is a leading global pharmaceutical manufacturing company based in Basel, Switzerland and Cambridge, Massachusetts, United States. Novartis AG was founded in 1996 through the merger of Ciba-Geigy and Sandoz.

Product Portfolio:

Novartis AG’s product portfolio for the neurodegenerative disease has Nourianz (istradefylline) tablets for Parkinson’s and EXELON® PATCH (rivastigmine transdermal system) for mild to moderate Alzheimer’s.

The global neurodegenerative disease market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.

Frequently Asked Questions

What is the Projected CAGR value of the Neurodegenerative Disease Market ?

Neurodegenerative Disease Market is expected to grow at a CAGR of 7.4% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Neurodegenerative Disease Market during 2022-2029

Which is the fastest growing region in the Neurodegenerative Disease Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

Trending Topics

Huntington's Disease Market

Parkinson’s disease Therapeutics Market

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