Neurodegenerative Disorder Therapeutics Market - Improvement in the healthcare infrastructure is likely to create new opportunity for the market
Neurodegenerative Disorder Therapeutics Market accounted for US$ 9.32 billion in 2019 and is estimated to be US$ 21.3 billion by 2029 and is anticipated to register a CAGR of 8.7%
The report "Global Neurodegenerative Disorder Therapeutics Market, By Indication Type (Parkinson's Disease, Alzheimer's Disease, Multiple Sclerosis, Huntington Disease, and Other Indication Types), By Drug Type (N- methyl- D- aspartate Receptor, Selective Serotonin Reuptake Inhibitor, Dopamine Inhibitors, and Other Drug Types), By Distribution (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
- In November 2019, Alkermes plc and Rodin Therapeutics, Inc. announced that they have entered into a definitive agreement under which Alkermes will acquire Rodin, a privately held biopharmaceutical company focused on developing novel, small molecule therapeutics for synaptopathies. This transaction builds on Alkermes' experience in central nervous system (CNS) diseases and expands Alkermes' CNS development efforts into a wide range of neurodegenerative disorders.
- In January 2020, AI Therapeutics- a clinical-stage biopharmaceutical company announced a common LAM-002 mechanism in cancer and neurodegenerative diseases which showed antitumor activity in the clinic and hope for ALS
Analyst View:
Growth in the prevalence of neurodegenerative among the global population drives the growth of neurodegenerative disorder therapeutics market. Rise in the number of geriatric population, results to the increased occurrence of neurodegenerative disorders. In 2017, as per World Population Prospects, the number of people above 60 years of age will increase from 962 million in 2017 to 2.1 billion in 2050 and it is estimated that people aged over 80 years will triple from 137 million in 2017 to 425 million in 2050. Further, according to data published by Alzheimer’s Association, around 5.8 million Americans are suffering with Alzheimer disease and this number is expected to grow to around 14 million by 2050. Thus, growing number of neurodegenerative diseases among the ageing population increases the demand for neurodegenerative disorder therapeutics thereby boosting the market growth.
Prominent players involved in the neurodegenerative disorder therapeutics are adopting multiple strategic partnerships with government and non- government firms to discover and develop therapeutics for a range of neurodegenerative diseases. Additionally, manufacturers are also increasing their collaboration with other players in the market in order to expand their capabilities for research and development activities and to develop more effective therapeutic solutions to treat neurodegenerative disorders. For instance, in October 2019, Prevail Therapeutics Inc., a USA based Biotechnology Company collaborated with Lonza, a worldwide supplier of pharma & Biotech and specialty ingredients based in Switzerland. The collaboration aimed to develop and manufacture gene therapy programs for patients of neurodegenerative diseases.
Key Market Insights from the report:
The global neurodegenerative disorder therapeutics market accounted for US$ 9.32 billion in 2019 and is estimated to be US$ 21.3 billion by 2029 and is anticipated to register a CAGR of 8.7%. The market report has been segmented on the basis of indication type, drug type, distribution, and region.
- By indication type, Parkinson’s disease segment is dominating in the U.S. region and is expected to maintain its dominance over the forces period. According to the data published by Parkinson’s Association in 2018, about 1.2 million people in the U.S are expected to be suffering from Parkinson’s disease by 2030. Along with the continuous growth in population, this disease is predicted to double between 2018 and 2026.
- By drug type, the target market is segmented into N- methyl- D- aspartate receptor, selective serotonin reuptake inhibitor, dopamine inhibitors, and other drug types
- By distribution, the global market is bifurcated into hospital pharmacy, retail pharmacy, and online pharmacy. Hospital pharmacy segment is dominating the target market, owing to growing number of patients suffering from neurodegenerative disorder.
- By region, in 2018, the North America market dominated the target market and is expected to maintain its dominance over the forecast period. In U.S., neurodegenerative diseases have become more prevalent due to rising aging population.
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Competitive Landscape:
The prominent player operating in the global neurodegenerative disorder therapeutics market includes Biogen, Pfizer, Sanofi, Novartis, Teva Pharmaceutical, Hoffmann- La Roche Ltd, UCB, ACADIA Pharmaceuticals Inc., Lundeck A/S and Boehringer Ingeiheim International GmbH.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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