Fort Collins, Colorado, Feb. 12, 2024 (GLOBE NEWSWIRE) -- The Neurodegenerative Disease Market size was valued at USD 51.2 Billion in 2023 and is anticipated to reach USD 96.4 Billion by 2032 at a CAGR of 7.3%.
A neurodegenerative disease occurs with the loss of neurons in the brain, resulting in fatality. Common occurrences include Parkinson’s disease, dementia, multiple sclerosis, and Alzheimer’s disease. Mostly, occurrences of Alzheimer’s and dementia happen in older adults with a prolonged history of brain-related disorders. On the other hand, nanotherapeutics emerge as a potential therapy for many cases to mitigate the risks associated with the disease. The field is evolving with a major focus on optimizing delivery strategies and expanding medical applications.
The growing healthcare expenditure on research and development has been pivotal for the major success of drug development and research. Emerging therapies have received wider recognition, with many lucrative opportunities for future development. The technological advances in drug discovery and biotechnology have immensely contributed to the emergence of novel treatment options. In addition, the COVID-19 pandemic has triggered the need for productive research on neurodegenerative disorders, which has sparked the interest of healthcare researchers.
As per WHO data for 2022, there will be a 20% rise in the geriatric population by 2026 across the globe. Also, the rate of Alzheimer’s and Parkinson’s disease is projected to grow in the geriatric population. Technological advancements such as biomarker identification, genetic testing, and neuroimaging contribute to the progression of targeted therapies.
Request Sample Report:
Segmentation Overview:
The global neurodegenerative disease market has been segmented into indication, drug class, end-user, and region. Based on indication, the neurodegenerative disease market has been segmented as Parkinson’s disease, Multiple Sclerosis, Huntington’s Disease, and Alzheimer’s Disease. Alzheimer’s disease is a leading segment attributed to the increase in cases across the globe. Several countries have developed targeted therapies to mitigate the risks associated with the disease.
North America is the leading market, projected to retain a dominant share in the forthcoming years. The rise in the number of patients with an increasing number of neurological disorders and medical developments is expected to impel the market growth. Moreover, government policies and the availability of a premium medical infrastructure to address critical issues in neurology have contributed further to the industry developments. Under the public-private partnership model, several companies focus on advancing neurodegenerative medicines for Parkinson’s and Alzheimer's.
Buy This Research Report:
Neurodegenerative Disease Market Report Highlights:
- The global neurodegenerative disease market growth is anticipated at a CAGR of 7.3% by 2032.
- The growing prevalence of neurological disorders and patient awareness is projected to propel the market growth in the following years.
- Asia Pacific is a fast-growing market in terms of patient availability with unmet demand for Alzheimer’s disease. Drug development activities and the need for effective medicines and therapeutics are anticipated to contribute to the Asia Pacific market growth.
- Some prominent players in the neurodegenerative disease market report include Novartis, Pfizer, Merck Serono, Biogen Idec, TEVA Pharmaceuticals Industries, UCB, Boehringer Ingelheim, Sanofi S.A., and GlaxoSmithKline.
Industry Trends and Insights:
- In 2024, the Northwestern Medicine Study highlighted that RNA interference is vital to treating Alzheimer’s. Scientists have discovered that short strands of toxic RNAs are responsible for brain cell death and DNA damage in elderly patients. On the other hand, the treatment approach by the scientists is currently in progress to evaluate if there could be a possibility of increasing protective RNA in the brain that could suppress Alzheimer’s disease of neurodegenerative disease.
- UCL (University College London) research team has developed an artificial fiber technology to boost neurodegenerative disease clinical trials. The study is supported by Science Card, Britain’s first e-money current account that empowers science and innovation projects.
Looking Exclusively For Region/Country Specific Report?
OR
Ask For Discount
Neurodegenerative Disease Market Segmentation:
By Indication: Parkinson’s Disease, Multiple Sclerosis, Huntington’s Disease, Alzheimer’s Disease.
By Drug Class: Dopamine Agonists, Immunomodulatory Drugs, and Cholinesterase Inhibitors.
By End-user: Hospital, Retail, Online.
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
Contact:
Mail: sales@datahorizzonresearch.com
Ph: +1-970-672-0390
Website: https://datahorizzonresearch.com/
Follow Us: LinkedIn
Recent Publications
Medical Waste Management Market 2023 to 2032
eClinical Solutions Market 2023 to 2032
Pharmaceutical Packaging Market 2023 to 2032
Regenerative Medicine Market 2023 to 2032
Clinical Trials Management Market 2023 to 2032
