New York, May 06, 2024 (GLOBE NEWSWIRE) -- Overview
The Global Neurological Disorder Drugs Market size is expected to reach USD 66.4 billion by 2024 and is further anticipated to reach USD 103.8 billion by 2033 according to Dimension Market Research. The market is anticipated to register a CAGR of 5.1% from 2024 to 2033. Neurological diseases come from brain or nervous system dysfunction, manifesting in physical or psychological symptoms. Medications like antipsychotics, antiepileptics, anticholinergics, & analgesics are customized to specific conditions to manage symptoms & improve quality of life.
Antipsychotics are poised to lead the neurological disorder drugs market in 2024, targeting symptoms of schizophrenia & bipolar disorder by altering brain chemicals. Further, antiepileptic drugs are expected to demonstrate constant growth, stabilizing brain activity to manage seizures.
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Epilepsy is expected to be a key driver of the neurological disorder drug market in 2024, characterized by recurrent seizures due to abnormal brain activity, as antiepileptic drugs are commonly used to manage seizures by regulating brain signals
Important Insights
- The Neurological Disorder Drugs Market is expected to grow by USD 37.4 billion by 2033 from 2024 with a CAGR of 5.1%.
- Antipsychotics will lead in 2024 as it helps in treating schizophrenia and bipolar disorder by altering brain chemicals, while antiepileptic drugs show steady growth.
- Epilepsy drives the neurological disorder drug market in 2024, managing seizures with antiepileptic drugs, while Parkinson's disease grows in coming years.
- Hospital pharmacies will lead the neurological disorder drug market in 2024, guaranteeing safe medication handling & collaborating with healthcare teams. In addition, retail pharmacies are expected to grow steadily.
- North America is expected to maintain its dominance in the global neurological disorder drugs market in 2024, with a 46.5% share, as superior healthcare infrastructure and innovative drug introductions enhance its position.
Global Neurological Disorder Drugs Market: Trends
- Gene Therapy Breakthroughs: Recent developments in gene therapy, like gene editing techniques like CRISPR, provide promising opportunities for treating neurological disorders at their root cause, driving innovation in drug development.
- Focus on Disease-Modifying Therapies: There's a higher focus on developing disease-modifying therapies that target the basic mechanisms of neurological disorders, focused on slowing disease progression and improving patient outcomes.
- Digital Biomarkers and Remote Monitoring: The integration of digital biomarkers and remote monitoring technologies allows constant tracking of disease progression & treatment response, supporting personalized treatment approaches and clinical trial optimization.
- Collaborative Research Initiatives: More collaboration between pharmaceutical companies, academic institutions, & government organizations supports interdisciplinary research efforts, enhancing the discovery and development of new neurological disorder drugs.
Neurological Disorder Drugs Market: Competitive Landscape
In the competitive global market for neurological disorder drugs, pharmaceutical companies compete to develop innovative treatments for conditions like Alzheimer's, Parkinson's, &multiple sclerosis. Through constant R&D investment and strategic partnerships, mergers, & acquisitions, players focus on broadening their product offerings and market reach.
Some of the major players in the market include Merck kGaA, Sanofi, Pfizer Inc, Cipla Inc, Abbott, Biocon, Sumitomo Corp, and more.
Some of the prominent market players:
- Merck kGaA
- Sanofi
- Pfizer Inc
- Cipla Inc
- Abbott
- Biocon
- Sumitomo Corp
- AstraZeneca
- Johnson & Johnson Pvt Ltd
- Novo Nordisk A/S
- Other Key Players
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Neurological Disorder Drugs Market Scope
| Report Highlights | Details |
| Market Size (2023) | USD 66.4 Bn |
| Forecast Value (2032) | USD 103.8 Bn |
| CAGR (2023-2032) | 5.1% |
| Leading Region in terms of Revenue Share | North America |
| Percentage of Revenue Share by Leading Region | 46.5% |
| Historical Data | 2018 - 2023 |
| Forecast Data | 2025 - 2033 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Drug Type, By Disease Type, By Distribution Channel |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Segment Analysis:
Hospital pharmacies as a distribution channel are expected to lead the neurological disorder drug market in 2024 and throughout the forecasted period, ensuring safe procurement, storage, & distribution of medications, as they collaborate with healthcare teams to optimize treatment outcomes. Further, retail pharmacies are anticipated to grow steadily, providing accessible care & support for individuals managing neurological disorders.
Neurological Disorder Drugs Market Segmentation
By Drug Type
- Antipsychotic
- Antiepileptic
- Anticholinergic
- Analgesics
- Hypnotic & Sedative
- Anticoagulants
- Antihypertensive
By Disease Type
- Epilepsy
- Parkinson’s disease
- Alzheimer’s disease
- Cerebrovascular disease
- Multiple Sclerosis
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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Regional Analysis
North America is expected to hold a leading 46.5% share in the global neurological disorder drugs market in 2024 as well as maintaining its dominance throughout the forecasted period, which is due to factors like the major presence of key pharmaceutical firms in the region. In addition, the introduction of innovative drugs by these companies strengthens North America's market position. Also, superior healthcare infrastructure & advanced research facilities further contribute to its dominance. Favorable regulatory frameworks & government initiatives facilitate shift approvals & commercialization of new drugs, supporting market growth prospects.
By Region
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
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Global Neurological Disorder Drugs Market: Driver
- Rising Incidence of Neurological Disorders: The increasing number of neurological disorders like Alzheimer's, Parkinson's, and epilepsy drives the need for drugs to manage symptoms &slow disease progression.
- Advancements in Drug Development: Current R&D efforts causing the discovery of new therapeutic targets and innovative treatment modalities, expanding the neurological disorder drugs market.
- Aging Population: With the global demographic switch towards older populations, there's an increase in the patient pool for neurological disorder drugs, as age is a major risk factor for many neurological conditions.
- Increased Healthcare Spending: Rising healthcare expenditure, mainly in emerging markets, allows for greater accessibility to neurological disorder drugs, fueling market growth.
Global Neurological Disorder Drugs Market: Restraints
- High Development Costs: The higher expenses linked with research, clinical trials, and regulatory approvals create barriers to entry for smaller pharmaceutical companies, limiting innovation & competition in the neurological disorder drugs market.
- Complexity of Neurological Disorders: The complex nature of neurological disorders creates challenges in drug development, including understanding disease mechanisms, inspecting effective targets, and achieving therapeutic efficacy.
- Stringent Regulatory Environment: Strict regulatory requirements, mainly for safety & efficacy, can prolong the drug development process and increase the risk of failure, deterring investment in neurological disorder drugs.
- Generic Competition: Patent expirations &the entry of generic alternatives for branded neurological disorder drugs can create pricing pressures and revenue erosion for pharmaceutical companies, impacting market growth.
Global Neurological Disorder Drugs Market: Opportunities
- Personalized Medicine: Development in accuracy of medicine and genetic testing providing opportunities for customized therapies, creating for more effective treatment of neurological disorders based on individual patient characteristics.
- Emerging Markets Expansion: Expansion into emerging markets with an increase in healthcare infrastructure and growth in disposable incomes creates opportunities for pharmaceutical companies to tap into new patient populations for neurological disorder drugs.
- Biotechnology Innovations: Development in biotechnology, like gene therapy and RNA-based therapeutics, opens new avenues for drug development and offers better treatment options for neurological disorders.
- Digital Health Solutions: Integration of digital health technologies, like telemedicine, remote patient monitoring, and digital therapeutics, improves patient engagement, enhances treatment adherence, and expands access to neurological disorder drugs.
Recent Developments in the Neurological Disorder Drugs Market
- January 2024: AbbVie launched PRODUODOPA in the EU, developed for advanced Parkinson's disease with severe motor fluctuations. It's the initial subcutaneous 24-hour levodopa infusion.
- August 2023: Neurocrine Biosciences, Inc. got FDA approval for INGREZZA capsules to treat adults with Huntington's disease-associated chorea, which offers adjustable dosing.
- June 2023: UCB gained FDA approval for RYSTIGGO in treating generalized myasthenia gravis in adults positive for specific antibodies.
- March 2023: Acadia Pharmaceuticals Inc. announced FDA approval for DAYBUE to help Rett syndrome in adults & pediatric patients aged two and above.
- February 2023: Pfizer Inc. announced its results in The Lancet Neurology from a Phase 3 trial of Zavegepant, a nasal spray for acute migraine treatment.
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