NEURODEGENERATIVE DISEASE TREATMENT MARKET ANALYSIS

The global neurodegenerative disease market was valued at US$ 41,224.6 Mn in 2022 and is forecast to reach a value of US$ 52,768.3 Mn by 2030 at a CAGR of 3.18% between 2023 and 2030. The neurodegenerative disease market is experiencing strong growth owing to the rise in prevalence of neurodegenerative diseases and rise in geriatric (aging) population around the world. Moreover, Increase in demand for safe/effective therapeutics and increasing awareness among people about neurodegenerative disease and available therapeutics is expected to boost the growth of the market. However, stringent regulatory guidelines and patent expiry of neurodegenerative disease treatment products are expected to hamper growth of the market.

Global Neurodegenerative Disease Market: Regional Insights

Based on geography, the global neurodegenerative disease market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period owing to the increasing burden of neurodegenerative diseases, increasing public awareness, and increase in demand for safe and effective treatments in the region. For instance, according to the Alzheimer's Association, more than 6.5 million people (aged 65 and older) in the United States were living with Alzheimer's dementia in 2022, and this number is expected to reach around 12.7 million by 2050.  Such high burden of Alzheimer's disease has increased the demand for safe and effective therapeutics, thereby driving the growth of the market.

Europe and Asia Pacific are also expected to witness robust growth in the global neurodegenerative disease market due to the rise in prevalence of neurodegenerative diseases, increase in demand for novel therapeutics, and rise in public awareness in these regions. For instance, according to the Parkinson’s Europe, around 1.2 million people are living with Parkinson's disease (PD) in Europe and this number is expected to double by 2030. Parkinson's requires a personalised approach to treatment and care. Parkinson's Europe (the European Parkinson's Disease Association (EPDA) is the only European Parkinson's umbrella organisation.

Figure 1. Global Neurodegenerative Disease Market Share (%), by Region, 2023

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Global Neurodegenerative Disease Market Drivers:

Rise in burden of neurodegenerative diseases to augment market growth

One of the key factors expected to augment growth of the global neurodegenerative disease market during the forecast period is the rise in prevalence of neurodegenerative diseases across the world. Neurological disorders are increasingly recognised as major causes of death and disability across the globe. Alzheimer's disease and Parkinson's disease are the most common neurodegenerative diseases. Neurodegenerative diseases affect millions of people worldwide. According to the World Health Organization (WHO), currently more than 55 million people live with dementia worldwide, and there are nearly 10 million new cases every year.

Growing geriatric population to underpin market growth

Another factor which is driving the growth of the global neurodegenerative disease market is the rise in geriatric (aging) population around the world. For instance, ageing is the primary risk factor for most neurodegenerative diseases, such as Alzheimer's disease (AD) and Parkinson's disease (PD). Alzheimer's disease and Parkinson's disease are the main neurodegenerative disorders (NDs) affecting the elderly. According to the National Institutes of Health (NIH), one in ten individuals aged ≥65 years has Alzheimer’s disease and its prevalence continues to increase with increasing age. This in turn is also driving the growth of the market.

Global Neurodegenerative Disease Market Opportunities:

Increase in demand for safe, effective, or novel therapeutics is expected to offer significant growth opportunities for players in the neurodegenerative disease market. For instance, with the increase in prevalence of neurodegenerative diseases and increase in awareness among people, the demand for safe and effective therapeutics is also increasing. In November 2022, InMed Pharmaceuticals planned to launch a new program, the INM-900 series, which will investigate therapeutic potential of its cannabinoid analogs in neurodegenerative diseases, including Parkinson’s disease. InMed will be conducting studies in in vivo models of neurodegenerative diseases.

Increasing awareness among people about neurodegenerative disease and available therapeutics is expected to offer lucrative growth opportunities for players in the global neurodegenerative disease market. For instance, Parkinson's disease community celebrates Parkinson’s disease (PD) month to raise awareness of Parkinson’s disease every April. The month of April has been dedicated as the Parkinson's Disease Awareness Month, when the already active Parkinson's disease community increases its activities in the spirit of Parkinson's disease awareness. This in turn is expected to aid in the growth of the neurodegenerative disease market.

Global Neurodegenerative Disease Market Trends:

Increase in research and development (R&D) is a recent trend

Increase in prevalence of neurodegenerative disease across the globe has increased the demand for safe, effective therapeutics worldwide. Various researches are underway worldwide to find novel therapies for neurodegenerative disorders, showing a promising and potential future. Players in the market as well as several governments are focusing on bringing their discoveries closer to clinical application, as well as focusing on launching novel therapeutics. This trend is expected to continue over the forecast period, driving the growth of the market.

Expanding therapeutic applications is another trend

With the expanding therapeutic applications of brain monitoring devices, demand for non-invasive and minimally invasive devices is also increasing with the rapid pace. For instance, use of wearable brain sensors help differentiate cognitive states in many neurodegenerative conditions. Nowadays, wireless headsets allow readings to be done in a completely non-invasive way and in some cases, assess patients from the comfort of their homes. This trend is also expected to continue during the forecast period, driving the growth of the market.

Global Neurodegenerative Disease Market Restraints:

Stringent regulatory guidelines to hinder growth of the market

One of the key factors expected to hamper growth of the global neurodegenerative disease market is the stringent regulatory guidelines. Regulatory bodies, such as the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA), have drafted various rules/regulations or guidelines. Moreover, major concern in regulatory approval is due to wide variability in current clinical trial design, which includes different inclusion criteria, endpoints, analysis plans, and the definition of best concomitant supportive care.

Patent expiry to hamper the growth of the market

Another factor which is hampering growth of the global neurodegenerative disease market is the patent expiry of neurodegenerative disease treatment products. Drugs, such as Azilect, Rebif, and Aricept, have already lost their patents in the past few years. Apart from these drugs, some other drugs used for the treatment of neurodegenerative disease are facing patent expiries as well. These patent expiry will enable generics and low-priced players to enter the market, causing a loss in the revenues for major players in the market.

Figure 2. Global Neurodegenerative Disease Market Share (%), by Indication Type, 2023

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Global Neurodegenerative Disease Market Segmentation:

The global neurodegenerative disease market report is segmented into Indication Type, Drug Type, and Geography.

Based on Indication Type, the market is segmented into Parkinson's disease, Alzheimer's disease, Multiple Sclerosis, Huntington Disease, and Other Indication Types. Out of which, Parkinson's disease Segment is expected to dominate the neurodegenerative disease market over the forecast period and this is attributed to the increase in prevalence of Parkinson's disease.

Alzheimer's disease Segment is also expected to witness significant growth in the near future and this is owing to the rise in burden of Alzheimer's disease worldwide.

Based on Drug Type, the market is segmented into N-methyl-D-aspartate Receptor antagonists, Cholinesterase Inhibitors, Dopamine Agonists, Immunomodulatory Drugs, and Other Drug Types. Out of which, N-methyl-D-aspartate Receptor antagonists Segment is expected to dominate the market over the forecast period and this is attributed to the increase in demand for N-methyl-D-aspartate Receptor antagonists. N-methyl-D-aspartate receptor antagonists are a class of drugs that are used to treat variety of neurodegenerative diseases.

Cholinesterase Inhibitors Segment is also expected to witness robust growth in the near future and this is owing to the increase in prevalence of neurodegenerative diseases. They are used in the treatment of Alzheimer and dementia symptoms.

Global Neurodegenerative Disease Market: Key Developments

In June 2021, UniQure enrolled the first two patients in the higher-dose second cohort of a Phase I/II clinical trial in the United States for AMT-130, a micro ribonucleic acid (miRNA) gene therapy developed as a potential treatment for Huntington’s disease (HD).

In March 2021, Janssen Pharmaceutical received the United States Food and Drug Administration (FDA) approval for Ponvory (ponesimod) for the treatment of relapsing forms of multiple sclerosis (MS) in adults, including clinically isolated syndrome.

In October 2020, SK Chemical launched Ongentis, a Parkinson's disease treatment developed by the Portuguese pharmaceutical firm Bial. It was the first time a third- generation COMT (Catechol O-methyltransferase) inhibitor that contains Opicapone has been released in Korea.

In September 2020, Genentech announced the initiation of Phase III clinical trial program for its investigational medicine fenebrutinib in multiple sclerosis (MS), along with a higher-dose Phase III clinical trial program for Ocrevus (ocrelizumab) and a distinct Ocrevus trial to support African-American and Hispanic- and Latinx-American patients with MS.

Global Neurodegenerative Disease Market: Key Companies Insights

The global neurodegenerative disease market is highly competitive. This is attributed to the rise in burden of neurodegenerative diseases and growing geriatric population, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global neurodegenerative disease market are Abbvie Inc., Amneal Pharmaceuticals Inc., Boehringer Ingelheim International Gmbh, F. Hoffmann-La Roche, and Merck & Co. Inc., among others.

*Definition: Neurodegenerative disease is a type of disease in which cells of the central nervous system stop working or die. It is caused by the progressive loss of structure or function of neurons, in the process known as neurodegeneration. Neurodegenerative disorders usually get worse over time and have no cure.