The ‘Global Neurodegenerative Diseases Drugs Market Trends, Price, Share, Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global neurodegenerative diseases drugs market, assessing the market based on its segments like drug classes, disease indications, route of administration, end-users, and regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Neurodegenerative Diseases Drugs Market Price, Share, Size, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Over USD 41.73 Billion
• Forecast CAGR (2023-2028): 7.10%
Neurodegenerative diseases drugs imply to medications that help combat the neurodegenerative diseases, which is a gradual impairment of nerve cells. Such diseases may result in the loss of skills like making decisions, and eventually lead to memory loss. In a wider term, neurodegeneration includes several diseases, such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis, and Huntington’s disease, among others. These may be caused by genetic issues, however, the main cause of such diseases can be the accumulation of poisonous elements in brain. There are medications like memantine, riluzole, donepezil, and L-Dopa, among other that are utilised to reduce the symptoms of such diseases.
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Factors such as increasing frequency of neurodegenerative diseases cases like Alzheimer’s, Parkinson’s disease, and multiple sclerosis are driving the development of the global neurodegenerative diseases drugs market. The increasing elderly population is further intensifying the occurrences of these diseases since the possibility of getting these diseases rises with age.
The significance of neurodegenerative diseases drugs in fighting the symptoms is crucial since there is no cure for neurodegenerative diseases and the gradual and slow progress of these can be challenging. Early and consistent consumption of neurodegenerative diseases drugs can support in controlling the disease. Besides, one of the primary factors for the progress of the neurodegenerative diseases drugs market is the strong pipeline of neurodegenerative diseases drugs and medications.
Additionally, new acquisitions and mergers by various companies are anticipated to propel the neurodegenerative diseases treatment market. Moreover, the launch of latest drugs is another important factor for the development of the market.
Neurodegenerative Diseases Drugs Industry Definition and Major Segments
Neurodegenerative diseases drugs are medications used to treat the neurodegenerative diseases such as Alzheimer’s disease, Huntington disease, Parkinson’s disease, and Amyotrophic lateral sclerosis, among others. These drugs can be consumed orally or taken intravenously, or through the skin. Neurodegenerative diseases involve gradual damage of function and formation of neurons, that at times also involve death of neurons. The main reason behind neurodegeneration is evidence of noxious protein substance in the brain, that obstructs the work of mitochondria in the brain.
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Based on drug classes, the neurodegenerative diseases drugs market can be segmented into:
• Decarboxylase Inhibitors
• Dopamine Agonists
On the basis of disease indication, the market has been classified into:
• Multiple Sclerosis
• Parkinson’s Disease
• Alzheimer’s Disease
• Spinal Muscular Atrophy (SMA)
Based on the route of administration, the market has been classified into:
Based on end-users, the market has been classified into:
• Hospital Pharmacy
• Retail Pharmacy
Based on regions, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Neurodegenerative Diseases Drugs Market Trends
Rising expenditure towards research and innovations in the pharmaceutical sector, primarily in the developing countries, is boosting the development of new neurodegenerative diseases drugs. Besides, the reprocessing of drugs, owing to the growing interest in drug repurposing in new combination therapies for diseases with unmet clinical needs, is another critical factor that is encouraging the progress of the global neurodegenerative diseases drugs market.
The increasing consents for newly introduced drugs by the governing bodies like FDA in the United States are the important trends in the market. Approval by the governing authorities supports in the broader availability of these drugs, helping more patients to utilise them for the treatment.
On the basis of the disease indication, the Alzheimer’s disease segment accounts for the substantial share in the neurodegenerative diseases drugs market, due to the high occurrence of the disease amongst the elderly population. Also, the rising elderly population is resulting in the increased prevalence of Alzheimer’s disease which, in turn, is increasing the demand for these drugs.
Geographically, North America holds a sizable share in the neurodegenerative diseases drugs market owing to the rising cases of Alzheimer’s disease in the United States. Additionally, the strong presence of drug companies within the region is another critical factor driving the market. On the other hand, the Asia Pacific is anticipated to observe a constant development of the market, primarily because of the increasing elderly population in the countries like India and China.
Key Market Players
The major players in the global neurodegenerative diseases drugs market are Pfizer, Inc., Merck KGaA, Novartis AG, Acadia Pharmaceuticals Inc.,Teva Pharmaceutical Industries Ltd., and F. Hoffmann-La Roche Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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