Neurodegenerative Disease Market Analysis to Develop Lucrative Opportunity by 2026
The overall Global Neurodegenerative Disease Market is expected to grow at a significant compound CAGR rate of 6.8% from USD 32.65 billion in 2018 to USD 55.26 billion in 2026
Neurodegenerative diseases are incurable and debilitating conditions that result in progressive degeneration and/or death of nerve cells. This causes problems with movement (Ataxia), or mental functioning (dementia). The overall Global Neurodegenerative Disease Market is expected to grow at a significant compound CAGR rate of 6.8% from USD 32.65 billion in 2018 to USD 55.26 billion in 2026. This expansion in neurodegenerative disease is due to the ascending public awareness and robust product pipeline for neurodegenerative disease treatment. However, strict regulatory guidelines are restricting market growth. Moreover, increasing occurrence of neurological disorders is providing ample of opportunities.
Global Neurodegenerative Disease: Key Segments
By Indications: - Amongst indications, Alzheimer's disease segment captured the largest market share of the global market due to Alzheimer's disease (AD) is the most widely neurodegenerative disease. This cause of dementia representing generally 50% everything being equal and in the old and is portrayed by the continuous loss of cognitive functions. Hallmark pathohistological findings of AD include widespread neuronal degeneration, extracellular amyloid plaques and intracellular neurofibrillary tangles (NFT) different lines of evidence indicate that AD grows primarily as the result of an amyloid cascade.
By Drug class: - Amongst Drug class, SSRIs segment captured the largest market share of the global market due to Sertraline (Zoloft) is a particular serotonin reuptake inhibitor (SSRI) that is generally prescribed as an antidepressant and proposed as a potential first-line medication to treat individuals with major depression. SSRIs work by improving the capacity of nerve cells in the brain that regulate emotion. Information is communicated between your brain cells with signals. The chemical messengers that deliver these signals are called neurotransmitters. Such as, sertraline was recently informed to inhibit several types of Na+ and K+ channels
By Region: - Neurodegenerative Disease market covers North America, Europe, Asia Pacific and the Rest of the world. North America region dominated the Neurodegenerative Disease market owing to the development of medical infrastructure and half of the world's procedures being done in the U.S. because of high medical reimbursement facilities and technological advancement. This region is significant for Parkinson's drugs market. As many as one million Americans live with Parkinson's disease (PD), which is joined the number of individuals people diagnosed to have numerous sclerosis, muscular dystrophy, and Lou Gehrig's disease. It is the second-most common neurodegenerative disorder in the United States. Additionally, there are a large number of patients who go undetected. As the US population keeps on maturing, the quantity of individuals living with Parkinson disease (PD) keeps on developing.
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Key Market Drivers: -
Global Neurodegenerative Disease Market Trends
• Robust product pipeline for neurodegenerative disease treatment:
The major driver for the growth of the Global Neurodegenerative Disease treatment market is a robust pipeline of drugs. For instance, FlorbetapirF 18 sponsored by Avid Radiopharmaceuticals has completed phase 2 clinical trials in 2017. This drug is used as biomarkers for neurodegenerative diseases such as Alzheimer's disease. F 18 T807 sponsored by Washington school of medicine is in phase 2 clinical trials since 2015. This drug is used to treat Amyotrophic Lateral Sclerosis (ALS).
Global Neurodegenerative Disease Market: Restraints
• The high Failure rate of Neurodegenerative drugs in clinical trials:
Thus, there is a need for a greater and more detailed knowledge of the genetic basis and molecular pathology of neurodegenerative diseases. However, this must be matched by better clinical evaluation and understanding of the prodrome and evolution of these diseases and how to detect a meaningful change in clinical trials that can reflect successful modification of disease progression in a manner and timescale that is attractive to industry.
Global Neurodegenerative Disease Market: Opportunities and Challenges
• Mergers and acquisitions by market players
Mergers and acquisitions by market players are expected to provide ample opportunities for Neurodegenerative Disease market growth. For instance, in June 2018, Alexion Pharmaceuticals Inc. merged with Complement Pharma, Netherlands-based biotech company to develop preclinical C-6 complement inhibitor CP010 for neurodegenerative disorders such as Parkinson's disease and Amyotrophic Lateral Sclerosis (ALS). C6 inhibition prevents the formation of Membrane attack complex (MAC), a complex of terminal complement proteins, which has the potential to treat a variety of central nervous system disorders.
• Lack of reimbursement policies
Lack of reimbursement policies provided by the government and hospitals for the treatment of neurodegenerative diseases such as Alzheimer's disease, Parkinson's disease, and Amyotrophic Lateral Sclerosis (ALS) is restraining the growth of the market.
Neurodegenerative Disease Market Based on Drug class (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
• Dopamine inhibitors
Neurodegenerative Disease Market Based on Indications (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
• Huntington disease
• Alzheimer's disease
• Parkinson's disease
• Amyotrophic Lateral Sclerosis
Neurodegenerative Disease Market Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
• North America
Neurodegenerative Disease Market Competitive Analysis (Company Overview, SWOT Matrix, Financial, Product Overview, and Market Strategies)
• Novartis International AG.
• Pfizer Inc
• Merck Serono
• Biogen Idec
• Teva Pharmaceutical Industries Ltd