Neurodegenerative Disease Market 2030 By Indication Type (Alzheimer's Disease, Huntington Disease, Multiple Sclerosis, Parkinson's Disease, Other), Drug Type (Cholinesterase Inhibitors, Dopamine Agonists, Other), Distribution Channel and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Healthcare | Pages : 192 Pages | Published On : Feb 2024

Neurodegenerative Disease Market was valued USD 45.8 Billion in 2023 and projected to reach USD 69.8 Billion by 2030, growing at a CAGR of 6.2% during the forecast period of 2023-2030.

Major vendors in the global Neurodegenerative Disease Market : AbbVie Inc., Amneal Pharmaceuticals Inc., Biogen Ide, Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche Ltd, GlaxoSmithKline, Merck & Co. Inc., Merck Serono, Novartis AG, Pfizer Inc., Sanofi S.A.,Teva Pharmaceuticals, UCB SA. and Others.

Market Overview

The rising prevalence of neurodegenerative diseases such as Parkinson’s, multiple sclerosis, and Alzheimer's disease is expected to drive the demand for drugs to address these conditions. The growth of the neurodegenerative drugs market is anticipated to be propelled by untapped emerging markets, benefitting from improved healthcare infrastructure and an increasing incidence of chronic diseases. Additionally, the healthcare industry in emerging economies is experiencing significant development, fueled by a rising demand for enhanced healthcare services and substantial government investments in healthcare infrastructure. Governments, pharmaceutical companies, and non-profit organizations are increasing their investments in research and development (R&D) for neurodegenerative drugs. This heightened focus on R&D is leading to the development of new treatments and therapies, further supporting the growth of the neurodegenerative drugs market.

Furthermore, the growing awareness of neurological disorders and the emphasis on early diagnosis and treatment are driving an increased demand for drugs that can slow down or halt the progression of these diseases. This awareness is expected to contribute significantly to the market's growth. The global adoption of e-commerce as a crucial tool for businesses, both small and large, is adding to the momentum, driven by consumers' preference for online shopping over traditional purchasing methods. This trend further supports the expansion of the neurodegenerative drugs market size.

However, the development of new drugs for neurodegenerative diseases is a complex and costly process that demands substantial investments in R&D. The high costs associated with drug development limit the number of companies willing to invest in this area, constraining the introduction of new drugs to the market and impeding the growth of the neurodegenerative drugs market share. Additionally, the lengthy and expensive regulatory approval process for new drugs can further limit the number of drugs that reach the market, causing delays in patient access to innovative treatments. Consequently, the high costs and complications associated with neurodegenerative drugs present challenges to the expansion of the market share.

Increasing Prevalence of Neurodegenerative Diseases is Drive the Global Neurodegenerative Disease Market

The prevalence of neurodegenerative diseases is a pivotal factor driving the global Neurodegenerative Disease Market. As these debilitating conditions, such as Parkinson’s, multiple sclerosis, and Alzheimer's disease, become more widespread, there is a heightened demand for effective therapeutic interventions. The aging global population, particularly in developed countries, is a significant contributor to the increasing prevalence of neurodegenerative disorders, as age is often a primary risk factor for these conditions. With a growing number of individuals entering the age brackets associated with higher susceptibility to neurodegenerative diseases, the overall patient population is expanding rapidly.

This rise in prevalence directly correlates with an escalated need for pharmaceutical solutions to address the complex symptoms and challenges presented by neurodegenerative disorders. Pharmaceutical companies are compelled to intensify their efforts in research and development to meet the evolving healthcare demands associated with these diseases. The economic burden of neurodegenerative disorders on both individuals and healthcare systems further underscores the importance of developing and making available effective neurodegenerative drugs.

Moreover, the prevalence of these diseases is not limited to developed regions; it is increasingly becoming a global health concern. Emerging economies are also witnessing a surge in the incidence of neurodegenerative disorders, driven by factors such as life changes and increased life expectancy. This global prevalence amplifies the market potential for neurodegenerative drugs on an international scale. Governments, healthcare organizations, and pharmaceutical companies are strategically aligning their efforts to address this growing health challenge, fostering collaborative initiatives and investments in research, drug development, and healthcare infrastructure. In essence, the prevalence of neurodegenerative diseases acts as a catalyst, propelling the Neurodegenerative Disease Market into a critical sphere where innovation, accessibility, and global collaboration are imperative for meeting the evolving healthcare needs of diverse populations.

Market Dynamics

Drivers:

  • Emerging Markets and Healthcare Infrastructure
  • Research and Development Investments
  • Growing Awareness and Early Diagnosis

Opportunities:

  • Advancements in Precision Medicine
  • Digital Health Technologies and Remote Patient Monitoring
  • Collaborations and Partnerships in Drug Development

The integration of digital health technologies and remote patient monitoring solutions offer new opportunity to the Neurodegenerative Disease Market

The integration of digital health technologies and remote patient monitoring solutions presents a transformative opportunity for the Neurodegenerative Disease Market. As advancements in technology continue to reshape healthcare, these innovative tools offer a fresh and dynamic approach to managing neurodegenerative disorders. Digital health technologies, including wearable devices, mobile applications, and telehealth platforms, enable continuous and remote monitoring of patients with neurodegenerative diseases. Wearable devices equipped with sensors can track key health parameters, such as movement patterns, heart rate, and sleep patterns. Mobile applications provide a means for patients to log symptoms, medication adherence, and life factors, creating a comprehensive dataset for healthcare providers. Telehealth platforms facilitate virtual consultations, allowing healthcare professionals to remotely assess patients and adjust treatment plans as needed.

This integration brings several advantages to the Neurodegenerative Disease Market. Firstly, it offers real-time, objective data on patients' conditions, allowing for more personalized and data-driven decision-making in treatment strategies. Continuous monitoring can provide early indicators of disease progression or complications, enabling timely interventions and potentially improving patient outcomes. Also, remote patient monitoring enhances the efficiency of clinical trials for neurodegenerative drugs. Traditional trials often face challenges related to patient recruitment, retention, and data collection. Digital health technologies address these challenges by enabling researchers to collect real-world data from patients in their natural environments. This not only accelerates the pace of clinical research but also enhances the generalizability of study findings.

Moreover, the integration of digital health technologies fosters a more patient-centric approach to neurodegenerative disease management. Patients gain greater autonomy over their health through self-monitoring and active participation in their care. This not only improves the overall patient experience but also promotes better adherence to treatment plans.

The Alzheimer's disease is dominate the global Neurodegenerative Disease Market.

Based on Indication Type, The Alzheimer's disease segment is anticipated to dominate and hold the major market share of the neurodegenerative disease market during the forecast period. Characterized by a progressive degeneration and death of brain cells, Alzheimer's disease is the leading cause of dementia—a continuous decline in cognitive, behavioral, and social abilities that impairs independent functioning. The global prevalence and mortality rates associated with this disorder are on the rise, leading to an escalating demand for effective treatments and therapies and thereby propelling the market's growth.

The prevalence of Alzheimer's disease is a global concern, as evidenced by the 2021 Alzheimer's Disease Facts and Figures report released by the Alzheimer's Association. In the United States alone, an estimated 6.2 million individuals aged 65 and older were living with Alzheimer's dementia in 2021. The report further highlighted that 1 in 9 people aged 65 and older have Alzheimer's dementia, with approximately two-thirds of those affected being women. This high incidence globally is anticipated to have a positive impact on the growth trajectory of the market.

Furthermore, the Alzheimer's disease segment benefits from increasing research and development activities and the introduction of new products. A noteworthy example is Eli Lilly and Company's January 2021 revelation of the positive outcomes of a study on Donanemab—an investigational antibody targeting a modified form of beta-amyloid known as N3pG. The study demonstrated a significant slowing of decline in cognition and daily function in patients with early symptomatic Alzheimer's disease compared to a placebo in the Phase 2 TRAILBLAZER-ALZ study. Additionally, the accelerated approval granted by the US Food and Drug Administration (FDA) on June 10th, 2021, for Biogen's and Eisai's Aduhelm (aducanumab) marked a significant milestone in the treatment of Alzheimer's disease. These advancements are poised to drive the growth of the Alzheimer's disease segment in the foreseeable future, underscoring its significant expansion in the coming years.

The market for Neurodegenerative Disease Market is dominated by North America.

North America is poised to emerge as the dominant player in the neurodegenerative disease market, with various factors influencing its growth trajectory. Key drivers include the escalating prevalence of neurological disorders and concerted research and development efforts by both private and government organizations, dedicated to devising effective treatments for these ailments.

The impact of neurodegenerative diseases is notably evident in the statistics provided by the Alzheimer's Association's 2022 Alzheimer's Disease Facts and Figures report. The United States alone saw an estimated 6.5 million Americans aged 65 and older grappling with Alzheimer's dementia in 2022. Furthermore, North America is expected to command a substantial market share, bolstered by a robust presence of pharmaceutical manufacturers and an evolving paradigm of care for patients afflicted by neurodegenerative diseases.

The proactive stance of regulatory bodies adds impetus to the region's prominence. Notably, the Food and Drug Administration's launch of an action plan in June 2022 specifically targeting rare neurodegenerative diseases, including Amyotrophic Lateral Sclerosis (ALS), stands as a significant stride. This five-year strategy aims to enhance and prolong the lives of individuals grappling with rare neurodegenerative diseases across the nation, focusing on advancing the development of safe and effective medical products and ensuring comprehensive access to innovative treatments.

Additionally, pharmaceutical innovation contributes to the region's growth narrative. Alterity Therapeutics, a company dedicated to developing disease-modifying therapies for neurodegenerative diseases, secured a new US patent in January 2022 for compounds designed to address conditions such as Parkinson's and Alzheimer's. The culmination of numerous drug development initiatives and approvals positions the market for substantial growth in the North American region throughout the forecast period. Consequently, driven by these multifaceted factors, the neurodegenerative disease market is poised for significant expansion in North America.

Global Neurodegenerative Disease Market Report Scope:

Report Details
Market size value in 2023 USD 45.8 Billion
Market size value in 2030 USD 69.8 Billion
CAGR (2023-2030) 6.2%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Indication Type, Drug Type, Distribution Channel, End User and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW

Segmentations Analysis of Neurodegenerative Disease Market: -

  • By Indication Type
    • Alzheimer's Disease
    • Huntington Disease
    • Multiple Sclerosis
    • Parkinson's Disease
    • Other
  • By Drug Type
    • Cholinesterase Inhibitors
    • Dopamine Agonists
    • Immunomodulatory Drugs
    • N-methyl-D-aspartate Receptor antagonists
    • Other
  • By Distribution Channel
    • Drug Stores and Retail Pharmacies
    • Hospital Pharmacy
    • Online Pharmacy
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • U.K.
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of MEA

Recent Developments

  • October 2022, Cyclo Therapeutics initiated a Phase 2b clinical trial for its experimental medication, Trappsol cyclo. This drug is designed to target the reduction of amyloid beta and tau in the treatment of early-stage Alzheimer's disease.
  • August 2022, Amneal Pharmaceuticals filed a New Drug Application (NDA) with the United States Food and Drug Administration for IPX203. This innovative oral formulation consists of extended-release capsules containing carbidopa/levodopa and is intended for the management of Parkinson's disease.
  • February 2021, Luye Pharma and Towa Pharmaceutical unveiled a strategic partnership to collaborate on the development and marketing of the Rivastigmine Multi-Day Transdermal Patch in Japan. This innovative patch, designed by Luye Pharma, is aimed at addressing Alzheimer's disease.
  • January 2021, Eli Lilly and Company completed the acquisition of Prevail, a biotechnology firm focused on researching disease-modifying AAV9-based gene therapies for individuals affected by neurodegenerative diseases.

Answers to Following Key Questions:

  • What will be the Neurodegenerative Disease Market’s trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Neurodegenerative Disease Market?
  • What are the main forces behind worldwide Neurodegenerative Disease Market? Which companies dominate Neurodegenerative Disease Market?
  • Which companies dominate Neurodegenerative Disease Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the Neurodegenerative Disease industry's suppliers' opportunities and dangers in Neurodegenerative Disease Market?
  • What is the Neurodegenerative Disease industry's regional sales, income, and pricing analysis? In the Neurodegenerative Disease Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Neurodegenerative Disease Market?
  • What are the main geographical areas for various industries that are anticipated to observe astounding expansion for Neurodegenerative Disease Market?
  • What are the dominant revenue-generating regions for Neurodegenerative Disease Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Neurodegenerative Disease Market trends that are influencing the market's expansion?
  • Which key product categories dominate Neurodegenerative Disease Market? What is Neurodegenerative Disease Market’s main applications?
  • In the coming years, which Neurodegenerative Disease Market technology will dominate the market?

Reason to purchase this Neurodegenerative Disease Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Neurodegenerative Disease Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different Neurodegenerative Disease Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Neurodegenerative Disease Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Neurodegenerative Disease Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Neurodegenerative Disease Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

TOC

Table and Figures

Methodology:

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This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.

The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.

Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.

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