Pune, May 28, 2020 (GLOBE NEWSWIRE) -- The global neurodegenerative diseases drugs market is likely to gain traction from the rising incidence of neurodegenerative diseases worldwide. Such diseases pose a greater burden on the physical and mental health of the populaces, as well as on the healthcare cost. This information is given by Fortune Business Insights™ in a published report, titled, “Neurodegenerative Diseases Drugs Market Size, Share and Industry Analysis By Drug Class (Immunomodulator, Interferons, Decarboxylase Inhibitors, Dopamine Agonists, Others), By Disease Indication (Multiple Sclerosis, Parkinson’s Disease, Alzheimer's Disease, Spinal Muscular Atrophy (SMA), Others), By Route of Administration (Oral, Injection, Transdermal, Others), By End User and Regional Forecast 2019-2026.” The report further states that the market stood at USD 35,497.3 million in 2018 and is projected to reach USD 62,786.2 million by 2026, thereby exhibiting a CAGR of 7.2% in the forecast period.
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This Report Answers the Following Questions:
- Which strategies are being implemented by companies to boost sales of neurodegenerative diseases drugs?
- What are the market drivers, trends, challenges, and opportunities?
- Which segment is anticipated to dominate the market in terms of share?
- Which region would lead by generating the highest revenue in the near future?
An Overview of the Impact of COVID-19 on this Market:
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Drivers & Restraints-
Rising Prevalence of Alzheimer’s Disease to Aid Growth
Neurodegenerative diseases refer to all those diseases that severely affect the neurons of the brain. One of the most prevalent neurodegenerative diseases is Alzheimer’s. In the U.S. alone, in 2019, approximately 5.8 million cases of Alzheimer's dementia were recorded. Others include multiple system atrophy, spinal muscular atrophy, Huntington's disease, amyotrophic lateral sclerosis, multiple sclerosis, and Parkinson’s disease. Besides, numerous companies are investing hefty amounts of money in research and development activities, which, in turn, is augmenting the clinical research on neurodegenerative diseases and their possible cure. These factors are expected to propel the neurodegenerative diseases drugs market in the near future.
Segment-
Multiple Sclerosis Segment to Dominate Backed by Rising Number of New Product Launches
In terms of disease indication, the market is divided into spinal muscular atrophy (SMA), Alzheimer's disease, Parkinson’s disease, multiple sclerosis, and others. Out of these, the multiple sclerosis segment held 66.1% neurodegenerative diseases drugs market share in 2018 and is set to dominate throughout the forthcoming years. This growth is attributable to the increasing number of novel product launches, favourable government recommendations, and expensive nature of drugs.
Regional Analysis-
North America to Lead Owing to Rising Investment in R&D Activities
North America generated USD 18,174.6 million revenue in 2018 and is likely to lead the market in the coming years. This growth is attributable to the positive health reimbursement policies, rising investment in research and development, high pricing, and increasing demand for neurodegenerative diseases drugs. Europe, on the other hand, is set to showcase considerable growth in the near future on account of the FDA approval for marketing and distributing SPINRAZA, as well as active support of the government. In Asia Pacific, the market would grow steadily and thus, the region is set to showcase the highest CAGR. It would occur because the increasing prevalence of diseases such as Parkinson’s and Alzheimer’s. Apart from that, the rising geriatric population and higher incidence of neurodegenerative diseases would drive growth of the market in this region.
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Competitive Landscape-
Key Players Focus on Strategic Partnerships to Launch New Drugs
Several companies present in the market are actively participating in extensive research and development activities to introduce unique products. The governments of numerous countries are also providing grants to the research institutes to discover new products to cater to the growing demand from the consumers. Additionally, many other companies are adopting the strategy of collaborations and partnerships to co-promote or co-develop new drugs. Below are two of the key industry developments:
- March 2019: Novartis announced that it received the FDA approval for Mayzent® (siponimod). It is considered to be the first treatment option approved for those suffering from secondary progressive multiple sclerosis (SPMS). It is meant for patients belonging to the age group of 15 years and above.
- January 2018: Biogen Japan Ltd. and Eisai Co., Ltd. started co-promoting AVONEX®, TYSABRI®, and TECFIDERA®. They are manufactured by Biogen Japan for treating multiple sclerosis. They will provide information regarding the usage of these drugs at healthcare facilities.
Fortune Business Insights™ presents a list of all the neurodegenerative diseases drugs manufacturers operating in the market. They are as follows:
- Novartis AG
- Biogen
- Lundbeck A/S
- Pfizer, Inc.
- Mitsubishi Tanabe Pharma Corporation
- Hoffmann-La Roche Ltd.
- Orion Pharma
- Merck & Co., Inc.
- UCB S.A.
- Teva Pharmaceutical Industries Ltd.
- Sanofi
- ACADIA Pharmaceuticals Inc.
- Other key market players
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Neurodegenerative Diseases - For Key Countreis, 2018
- Regulatory Scenario - For Key Countries
- Patent Snapshot
- New Product Launch
- Pipeline Analysis
- Key Industry Developments - Mergers, Acquisitions and Partnerships
- Global Neurodegenerative Diseases Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Interferons
- Decarboxylase Inhibitors
- Dopamine Agonists
- Others
- Market Analysis, Insights and Forecast – By Disease Indication
- Multiple Sclerosis
- Parkinson’s Disease
- Alzheimer's Disease
- Spinal Muscular Atrophy (SMA)
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Injection
- Transdermal
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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