Pune, Nov. 12, 2020 (GLOBE NEWSWIRE) -- The global neurodegenerative diseases drugs market size is expected to derive growth from the rising prevalence of neurodegenerative diseases especially among the aging population. In 2018, the global market was valued at US$35,497.3 Mn and is projected to be worth US$ 62,786.2 Mn by 2026. At this pace, the global market is estimated to exhibit a healthy CAGR of 7.2% during the forecast duration. North America market was valued at US$ 18,174.6 Mn and is anticipated to maintain its dominance throughout the forecast years. Neurodegenerative diseases have become more prevalent in the U.S. owing to an increasingly aging population.
Key Industry Developments:
- In March 2019, Novartis AG announced the FDA approval for Mayzent, an immunomodulator for the treatment of relapsing forms of multiple sclerosis (RMS).
- In January 2018, Eisai Co., Ltd. collaborated with Biogen for the co-promotion of TECFIDERA, TYSABRI, and AVONEX in Japan.
- In February 2017, Apitope, a company for drug discovery and development announced positive results from the Phase IIa clinical study of the company’s multiple sclerosis drug candidate named ATX-MS-1467.
- In February 2019, Acorda Therapeutics launched INBRIJA, an inhalation powder to treat patient with Parkinson’s disease in the U.S.
- In June 2017, European Commission (EC) granted marketing approval for SPINRAZA, a drug used for treating spinal muscular atrophy.
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Rising Awareness about Neurodegenerative Diseases Fuels Demand for Neurodegenerative Disease Drugs
As per research studies, the prevalence of neurodegenerative diseases among all genders, races, geographical backgrounds, and genders is likely to increase with the rising worldwide population. Rapid lifestyle alterations such as improper sleeping, high-stress levels, and unhealthy eating habits are likely to result in degenerative of nerve cells.
Medical practitioners and physicians are becoming more aware of the neurodegenerative disease treatment, which in turn is enabling neurodegenerative disease drug development. Moreover, several advancements are expected to offer an early diagnosis of these life-threatening diseases.
A recent innovation in neurodegenerative disease drug discovery includes some therapies such as NDMA and dopamine inhibitors. These innovations are anticipated to register progressive growth in the neurodegenerative disease drugs market.
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North America Dominates with Rising R&D Investments
In 2018, the North America market was valued at US$ 18,174.6 Mn and is anticipated to maintain its dominance throughout the forecast years. Neurodegenerative diseases have become more prevalent in the U.S. owing to an increasingly aging population. As per the Alzheimer’s Association, around 5.4 million Americans were suffering from Alzheimer’s in the year 2016. Moreover, this disease is more prevalent among people aged 65 years and above.
Biogen’s Strategic Initiatives Helps the Company to Earn More Profits
In the year 2018, Biogen was dominating the global market. Neurodegenerative disease drug discovery and some important strategic decisions help the company to gain more attention. The launch of a drug called SPINRAZA and increasing sales of another drug called Tecfidera in 2018 helped the company to strengthen its product portfolio.
Also, the company entered into a strategic partnership with F. Hoffmann-La Roche Ltd. to ensure robust distribution of drugs. This, together with the launch of two new drugs called Madopar and Ocrevus helped F. Hoffmann-La Roche Ltd. to gain the second position in the market.
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Key companies covered in the Neurodegenerative Diseases Drugs Market:
- Biogen
- Pfizer, Inc.
- F. Hoffmann-La Roche Ltd
- Merck & Co., Inc.
- Novartis AG
- Sanofi
- Teva Pharmaceutical Industries Ltd.
- Orion Pharma
- UCB S.A
- ACADIA Pharmaceuticals Inc.
- H. Lundbeck A/S
- Mitsubishi Tanabe Pharma Corporation
- Other players
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Segmentation of the Global Neurodegenerative Diseases Drugs Market:
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
By End User
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
Have a Look at Related Reports:
Parkinson’s disease drugs Market Share and Global Trend By Drug Class (Decarboxylase Inhibitors, Dopamine Agonists, Monoamine Oxidase Type B (MAO-B) Inhibitor, Catechol-O-Methyltransferase (COMT) Inhibitors), Route of Administration (Oral, Injection, Transdermal), Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) & Geography Forecast till 2026
Neurodegenerative Diseases Drugs Market Share and Global Trend By Drug Class (Immunomodulator, Interferons, Decarboxylase Inhibitors, Dopamine Agonists), By Disease Indication (Multiple Sclerosis, Parkinson’s Disease, Alzheimer's Disease, Spinal Muscular Atrophy (SMA)), By Route of Administration(Oral, Injection, Transdermal) By End User(Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Geography Forecast till 2026
Schizophrenia Drugs Market Share & Industry Analysis, By Therapeutic Class (Second Generation, Third Generation, Others), By Treatment (Oral, Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others) and Regional Forecast, 2019-2026
Multiple Sclerosis Drugs Market Share and Global Trend By Drug Class (Immunomodulatory, Immunosuppressant, Interferons, Others), By Route of Administration (Oral, Injection), By Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Stores), and Geography Forecast till 2026
Spinal Muscular Atrophy (SMA) Treatment Market Share & Industry Analysis, By Product (Nusinersen and Onasemnogen Abeparvovec), By Disease Type (Type 1 SMA, Type 2 SMA and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Others), and Regional Forecast, 2019-2026
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