Neurodegenerative Diseases Drugs Market: A Growing Hope for Patients Worldwide

According to Next Move Strategy Consulting, the global Neurodegenerative Diseases Drugs Market is predicted to reach USD 78 billion by 2030, with a CAGR of 7% from 2024 to 2030. The global neurodegenerative diseases drugs market is witnessing rapid growth, driven by an increasing prevalence of conditions such as Alzheimer's disease (AD), Parkinson’s disease (PD), multiple sclerosis, and other neurodegenerative disorders. These diseases are characterized by progressive degeneration of the brain’s neurons, leading to debilitating cognitive, motor, and psychological symptoms. Neurodegenerative diseases drugs are crucial in improving patients' quality of life, offering new hope for individuals and families grappling with these challenging conditions.

Download Free Sample: https://www.nextmsc.com/neurodegenerative-diseases-drugs-market/request-sample 

Market Growth Driven by Rising Prevalence of Neurodegenerative Disorders

The major driving force behind the market growth is the rising prevalence of neurodegenerative diseases worldwide. According to the World Health Organization (WHO), as of September 2022, approximately 55 million people were living with dementia, a major form of Alzheimer’s disease. This figure is projected to rise to 78 million by 2030 and 139 million by 2050. With a significant number of individuals living with dementia and other neurodegenerative conditions, the demand for effective treatment options is escalating.

The aging population is another key factor fueling the growth of the market. As people live longer, the frequency of neurodegenerative diseases like Alzheimer’s and Parkinson’s increases due to the loss of regulation of immune responses in the brain. In addition, risk factors such as hypertension, diabetes, head trauma, and orthostatic hypotension are contributing to the rising number of Alzheimer's cases, further driving the demand for neurodegenerative disease drugs. In 2022 alone, more than 10 million new cases of dementia were diagnosed globally.

Segmentation of the Neurodegenerative Diseases Drugs Market

The neurodegenerative diseases drugs market is segmented based on drug class, disease indication, route of administration, distribution channels, and geography.

• Drug Class: The market includes various drug classes such as immunomodulators, interferons, decarboxylase inhibitors, dopamine agonists, and others. These classes target different neurodegenerative conditions with varying mechanisms of action.
  
  
• Disease Indication: The market is classified into conditions like multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, spinal muscular atrophy (SMA), and others. Alzheimer’s and Parkinson’s diseases are the largest segments due to their high prevalence and increasing number of diagnosed cases worldwide.

Inquire Before Buying: https://www.nextmsc.com/neurodegenerative-diseases-drugs-market/inquire-before-buying 

• Route of Administration: Neurodegenerative disease drugs are administered through various routes, including oral, injection, and transdermal methods, depending on the specific disease and treatment. Oral administration remains the most common route due to its convenience.
  
  
• Distribution Channel: The distribution of neurodegenerative drugs occurs through hospitals, online pharmacies, and retail pharmacies, with online channels showing significant growth due to increasing access to digital healthcare services and patient preferences for home delivery.
  

Regional Trends in the Neurodegenerative Diseases Drugs Market

The North American region holds a dominant share of the neurodegenerative diseases drugs market, attributed to substantial investments in research and development by government organizations like the National Institute of Health (NIH) and private institutions. For instance, NIH funding for neurodegenerative diseases, including Alzheimer's and Parkinson’s, increased from USD 4.02 billion in 2020 to USD 4.11 billion in 2021. This investment fosters innovation in drug development, including breakthrough treatments and clinical trials.

The approval of innovative drugs also plays a critical role in market growth. In February 2022, Neurocentria, Inc. received FDA approval to conduct clinical trials for its drug, NRCT-101SR, which showed promise in improving cognition and mood in patients with attention-deficit/hyperactivity disorder (ADHD). This highlights the continuous efforts to develop novel therapies targeting neurodegenerative diseases.

Asia-Pacific, on the other hand, is experiencing steady growth in the neurodegenerative diseases drugs market due to the rising number of elderly individuals suffering from dementia, Alzheimer’s disease, and Parkinson’s disease in the region. A study in China indicated a prevalence of approximately 6% of dementia cases in individuals aged 60 and older, with Alzheimer’s disease and vascular dementia being the most common forms.

Leading Players in the Market

The neurodegenerative diseases drugs market is highly competitive, with several leading companies focusing on the development of novel therapies. Major players in the market include:

• Novartis AG
• Sanofi S.A.
• Orion Pharma, Ltd.
• F. Hoffmann-La Roche Ltd.
• Teva Pharmaceuticals Industries, Inc.
• ACADIA Pharmaceuticals, Inc.
• Merck & Co., Inc.
• Pfizer, Inc.
• H. Lundbeck A/S
• Biogen, Inc.

These companies are leveraging strategies such as product approvals, collaborations, and mergers to maintain a strong presence in the market.

For example, in February 2022, Aquinnah Pharmaceuticals partnered with Roche to develop new treatments for Amyotrophic Lateral Sclerosis (ALS) and other neurodegenerative diseases. In another significant development, Novartis announced FDA approval for Fast Track designation of branaplam (LMI070) for Huntington's disease (HD), a severe neurodegenerative disorder. Moreover, Teva Pharmaceutical Industries Ltd. joined hands with MODAG GmbH in October 2021 to develop and license drugs for neurodegenerative diseases like Huntington’s disease.

Conclusion

The neurodegenerative diseases drugs market is experiencing substantial growth due to the rising prevalence of neurodegenerative disorders, increasing healthcare investments, and the aging global population. As the demand for effective treatments rises, so does the need for innovative therapies and drug classes targeting conditions like Alzheimer’s, Parkinson’s, and multiple sclerosis. North America continues to lead the market, with increasing investments in research and development, while the Asia-Pacific region is emerging as a key growth area. The industry’s future will be shaped by strategic collaborations and the development of new drugs that can improve patient outcomes and quality of life.

For more information, please contact:

Next Move Strategy Consulting

E-Mail: info@nextmsc.com

Direct: +1-217-650-7991

Website: www.nextmsc.com

Follow Us: LinkedIn | Twitter | Facebook | Instagram | YouTube

About Next Move Strategy Consulting: 

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.