Neurodegenerative Drugs Market Analysis | 2022-2028

Market Insights

The Neurodegenerative Drugs Market was valued at US$ 41.91 Billion in 2021 and is projected to reach US$ 67.08 Billion by 2028, registering a CAGR of 6.91% during the forecast period.

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What is neurodegenerative disease?

Neurodegenerative disease is defined as a group of diseases that affects the neurons in the human brain. The inability of neurons to reproduce themselves results in the development of neurodegenerative diseases. Neurodegenerative diseases include multiple sclerosis, Parkinson's disease, Alzheimer's disease, spinal muscular atrophy (SMA), and others.

Market Dynamics

The growth of the neurodegenerative drugs market is primarily driven by the increasing prevalence of Alzheimer's and Parkinson's diseases. Expanding the geriatric populace across geographies is likely to drive market growth at a significant rate during the review period. In addition to this, increasing investment in research and development activities to develop new treatment methods is likely to create lucrative opportunities for the players operating in the global neurodegenerative drugs market in the coming years.

The growth in the neurodgenerative drugs market may be accredited to two key factors, they are:

Surging cases of Alzheimer’s and Parkinson’s disease:

According to Alzheimer’s Association, as of 2023, close to 6 million Americans are suffering from Alzheimer’s, and the number is slated to rise to 13 million by 2050. On the other hand, a report by Parkinson’s Foundation reads that nearly 90,000 people in the U.S. are diagnosed with Parkinson’s disease annually and the total number of Americans to be affected is likely to rise to 1.2 million by 2030. In addition to this, as of 2023, approximately 10 million people globally are suffering from the disease.

High geriatric population:

A major factor supplementing the demand for neurogenerative drugs is the rapidly rising aging population, worldwide. As per WHO, by 2030, the total number of people aged 60 and above will increase to 1.4, and by 2050, this number will double to 2.1 billion. Additionally, the number of persons aged 60 years and older is expected to triple between 2020 to 2050, reaching 426 million.

Thus, the aforementioned statistics highlight the demand for neurogenerative drugs due to the need for drugs that can help slow the progression of these diseases or alleviate their symptoms. Similarly, a rapidly rising geriatric population thrusts the need for reliable and effective medication that has no side effects and supports the targeted need of aging people.

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Key Players

Key players operating in the neurodegenerative drugs market are-

• Novartis International AG (Switzerland)
• Pfizer Inc. (US)
• Merck Serono (Germany)
• Biogen Inc. (US)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Benetton Group S.r.l. (Italy)
• C.H. Boehringer Sohn AG & Ko. KG (Germany)
• Sanofi S.A. (France)
• GlaxoSmithKline plc (UK).

Segment Analysis

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories-

By Type

• N-Methyl-D-Aspartic Acid (NMDA)
• Selective Serotonin Reuptake Inhibitors (SSRIs)
• Dopamine Inhibitors
• Others

By Disease Indication Type

• Multiple Sclerosis
• Parkinson’s Disease
• Alzheimer's Disease
• Spinal Muscular Atrophy (SMA)
• Others

By Distribution Channel Type

• Hospital Pharmacies
• Retail Pharmacies
• Online

By Region

• North America
• Asia-Pacific
• Europe 
• Rest of the World

Product Trends

The market has been bifurcated into n-methyl-d-aspartic acid (NMDA), selective serotonin reuptake inhibitors (SSRIs), dopamine inhibitors, and others. The n-methyl-d-aspartic acid (NMDA) segment accounted for the largest market share in 2021 and is projected to register significant growth during the review period.

Regional Analysis

The North American market accounted for the largest market share in 2021 and is projected to grow at a robust CAGR during the review period. This can be attributed to rising healthcare expenditure and expanding geriatric populace coupled with the presence of key market players such as Pfizer Inc. (US) and Biogen Inc. (US). The market growth in Asia-Pacific is expected to be driven by the rising number of people suffering from Alzheimer's disease.

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COVID-19 Impact

The COVID-19 outbreak adversely affected the market growth of the neurodegenerative drugs industry due to the shift of medical treatment from cancer to rising coronavirus-affected patients. Patients suffering from other diseases were asked to postpone their surgery/treatment due to a rapid surge in COVID-19 cases across the globe.

Target Audience

Here is the list of the group of customers that the neurodegenerative drugs market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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