Neurological disorder is associated with dysfunction in any part of the brain or nervous system, resulting in physical and/or psychological symptoms. Various neurological disorders are congenital, which emerge during the early years of embryo developmental and may be diagnosed at birth. Whereas, acquired neurological disorders develop after the birth due to traumatic brain injuries, immune disorders, postnatal injections, spinal cord injuries, neoplasm, and exposure to environmental chemicals or toxins, among others.
Many bacterial (Mycobacterial tuberculosis, Neisseria meningitides), viral (Human Immunodeficiency Virus (HIV), Enteroviruses, West Nile Virus, Zika), fungal (Cryptococcus, Aspergillus), and parasitic (malaria, Chagas) infections can also affect the nervous system, resulting in neurological disorders.
Various types of neurological drugs such as antipsychotic, antiepileptic, anticholinergic, and analgesics are used for the treatment of neurological disorders. Moreover, choice of medication mainly depends on the patient’s neurological condition. These drugs help in managing the neurological condition, reduce symptoms, and improve the quality of life. Commonly used neurological drugs include corticosteroids, which are often indicated for the treatment of multiple sclerosis and assist in decreasing inflammation.
Neurological Disorder Drugs Market: Drivers
Rising awareness associated with early disease diagnosis through awareness campaigns by government regulatory bodies and private organizations, and market entry of efficient drugs in the near future, owing to the presence of strong drug pipeline is expected to drive growth of the neurological disorder drugs market.
For instance, according to a report published by the Pharmaceutical Research and Manufacturers of America (PhRMA) in April 2018, there are currently 537 medicines in development by biopharmaceutical companies in the U.S for various neurological disorders. This mainly includes 95 medicines for brain tumors, 46 for chronic pain, and 92 for Alzheimer’s disease. The other 30 are being developed for a range of conditions including multiple sclerosis, migraines, amyotrophic lateral sclerosis, and Parkinson’s disease.
Furthermore, key players are engaged in gaining regulatory approval for neurological drugs, to expand its market presence. For instance, in April 2017, the U.S. Food and Drug Administration (FDA) approved Neurocrine Biosciences’ Ingrezza (valbenazine), first drug to treat tardive dyskinesia in adults.
Furthermore, UCB S.A., a Belgium-based company involved in the research and development of anti-epileptic drugs (AEDs), received European Commission (EC) approval for BRIVIACT (brivaracetam) as an adjunctive therapy for the treatment of partial-onset seizures with or without secondary generalization in adult and adolescent patients from 16 years of age with epilepsy.
Neurological Disorder Drugs Market: Restraint
Stringent and lengthy drug approval procedures, strict policies in prescribing sedatives for the treatment of neurological disorders, and slowdown in the development of drugs, owing to expensive research and development cost is expected to restrain the global neurological disorder drugs market growth over the forecast period.
Neurological Disorder Drugs Market: Regional Analysis
North America is expected to hold a dominant position in the global neurological disorder drugs market and account for the largest market share over the forecast period, owing to high presence of key players in the region and approval and launch of novel products by them in the region.
For instance, in May 2018, Amgen received the U.S. FDA approval for Aimovig (erenumab-aooe), for the preventive treatment of migraine in adults. Aimovig is a novel therapeutic approach and the only FDA-approved treatment specifically developed to prevent migraine by blocking the calcitonin gene-related peptide receptor (CGRP-R), which plays a critical role in migraine.
Neurological Disorder Drugs Market: Key Players
Key players operating in the global neurological disorder drugs market include Amgen Inc., UCB S.A., Neurocrine Biosciences, Inc., Pfizer Inc., Biogen Inc., Teva Pharmaceutical Industries Ltd., AcelRx Pharmaceuticals, Inc., Eli Lilly and Company, Ionis Pharmaceuticals, Inc., Adamas Pharmaceuticals, Inc., BioMarin Pharmaceutical Inc., Otsuka America Pharmaceutical, Inc., AstraZeneca plc, and Novartis International AG.
Neurological Disorder Drugs Market: Taxonomy
The global neurological disorder drugs market is segmented on the basis of drug type, disease type, distribution channel, and region.
By Drug Type
By Disease Type
By Distribution Channel
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.