Neurodegenerative Disease Market
Neurodegenerative Disease Market Size, Share & Industry Analysis, By Disease Type (Alzheimer's Disease, Parkinson's Disease, Multiple Sclerosis, Huntington's Disease, Others), By Drug Class (Immunomodulators, Cholinesterase Inhibitors, Dopaminergic Drugs, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) -- Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Market Overview:
The global Neurodegenerative Disease Market is projected to grow at a CAGR of XX% from 2024 to 2031. The market value is expected to increase from USD XX billion in 2024 to USD YY billion by 2031. North America dominates the market, driven by a high prevalence of neurodegenerative disorders, advanced healthcare infrastructure, and significant investments in research and development. Key metrics include rising aging population, increasing awareness about neurological disorders, and growing pipeline of novel therapies.
The Neurodegenerative Disease Market is expanding rapidly, driven by the growing global burden of neurological disorders, advances in diagnostic technology, and an increase in research activities aimed at generating novel treatment options. The market is distinguished by a heavy emphasis on personalised medicine techniques, the development of novel biomarkers for early detection, and the incorporation of digital health technologies into disease management. Pharmaceutical companies are stepping up their efforts to produce disease-modifying medications, notably for illnesses such as Alzheimer's and Parkinson's disease, which currently lack cures.
Market Dynamics:
Market Trend: Emerging gene therapies and precision medicine approaches
The Neurodegenerative Disease Market is seeing a considerable increase in the discovery and implementation of gene treatments and precision medicine approaches. This transition is being driven by advances in genetic research and the promise of tailored medicines to address the underlying causes of neurodegenerative illnesses. Gene therapies seek to fix or replace defective genes associated with various disorders, with the potential for long-term or even curative benefits. Major pharmaceutical and biotech corporations are making significant investments in gene therapy research for illnesses such as Huntington's disease and spinal muscular atrophy. For example, Novartis' Zolgensma, a gene treatment for spinal muscular atrophy, has demonstrated promise in clinical trials. The trend towards precision medicine allows for the development of individualised treatment regimens based on an individual's genetic profile, potentially boosting treatment success and lowering side effects. This method is especially useful in disorders like Parkinson's, where genetic subtypes might influence therapy response.
Market Driver: Aging population and increasing prevalence of neurodegenerative disorders
The rapidly ageing global population and the resulting increase in the prevalence of neurodegenerative illnesses are the key drivers of the Neurodegenerative Disease Market. According to the World Health Organisation, the proportion of the global population over the age of 60 is anticipated to nearly double between 2015 and 2050, from 12% to 22%. This demographic transition greatly expands the risk pool for neurological disorders, as age is a major risk factor for conditions such as Alzheimer's and Parkinson's disease. For example, the Alzheimer's Association predicts that the number of Americans living with Alzheimer's disease will more than double from 6.2 million in 2021 to 13.8 million by 2060. Similarly, the Parkinson's Foundation predicts that by 2040, the prevalence of Parkinson's disease would have increased by 90%. This expanding disease burden is pushing up healthcare spending, research funding, and demand for novel therapeutics, resulting in market expansion.
Market Restraint: High cost of treatment and stringent regulatory landscape
The neurodegenerative disease market has considerable obstacles due to high treatment costs and a rigorous regulatory environment. The development of novel therapeutics for neurodegenerative illnesses sometimes involves extensive and costly clinical trials, resulting in high drug prices once approved. For example, some disease-modifying medicines for multiple sclerosis might cost more than $80,000 per patient each year. The recently authorised Alzheimer's medicine, Aduhelm, was initially priced at $56,000 per year, generating concerns about affordability and access. These high costs may limit patient access to innovative treatments, especially in areas with limited healthcare resources or poor insurance coverage. Furthermore, the regulatory landscape for neurodegenerative disease medicines is particularly problematic due to the complexity of these conditions and the challenges of demonstrating clinically relevant effects in trials. The FDA's rapid approval of Aduhelm, despite conflicting clinical trial findings, has raised concerns about the regulatory process for neurodegenerative disease medicines. These characteristics together provide considerable challenges for therapeutic development and commercial access in the neurodegenerative illness domain.
Segment Overview:
Alzheimer's Disease dominates the Neurodegenerative Disease Market, driven by its high prevalence and the urgent need for effective treatments.
The Alzheimer's Disease segment accounts for the greatest market share in the Neurodegenerative Disease Market. This dominance is due to the high frequency of Alzheimer's disease, the most common type of dementia, which affects millions of people worldwide. According to the Alzheimer's Association, more than 6 million Americans are living with Alzheimer's in 2021, with the figure expected to climb to nearly 13 million by 2050. The global cost of dementia, with Alzheimer's being the most common cause, was estimated at $1.3 trillion in 2019 and is anticipated to more than double by 2030.
Recent advances in Alzheimer's disease treatment have resulted in tremendous market activity. Despite concerns about its efficacy, the FDA rushed approval of Aduhelm (aducanumab) in June 2021, making it the first novel Alzheimer's medication approved since 2003. This approval has sparked renewed interest in amyloid-targeting medicines, with many related drugs in late-stage clinical trials. For example, Eli Lilly's donanemab and Roche's gantenerumab are being attentively monitored by the market. The Alzheimer's treatment pipeline is robust, with over 100 molecules in clinical trials, indicating a strong research focus on this dreadful disease.
The Parkinson's Disease segment is also expanding rapidly, driven by rising disease prevalence and advances in symptomatic treatments. The Parkinson's Foundation predicts that over one million persons in the United States will have Parkinson's disease by 2020, with the figure anticipated to climb to 1.2 million by 2030. The market for Parkinson's disease medications is changing, with an emphasis on creating therapies that can reduce or stop disease development while still controlling symptoms. Gene treatments and cell replacement technologies are emerging as intriguing alternatives, with numerous candidates currently undergoing clinical trials.
The Multiple Sclerosis market is expanding rapidly, fuelled by the advent of very effective disease-modifying medications and improved diagnostic procedures. The global multiple sclerosis market was valued at around $25 billion in 2020 and is predicted to expand rapidly. The move to oral medicines, as well as the discovery of treatments for progressive types of MS, are major factors influencing this market.
Regional Outlook:
North America leads the Neurodegenerative Disease Market, driven by high disease prevalence, advanced healthcare infrastructure, and significant R&D investments.
North America, notably the United States, dominates the global neurodegenerative disease market. This leadership is mostly due to the region's high prevalence of neurodegenerative illnesses, well-established healthcare infrastructure, and significant investments in medical research. The United States alone accounts for a sizable percentage of the global industry, with neurodegenerative disease therapies expected to be worth more than $YY billion by 2022. The existence of big pharmaceutical corporations, renowned research universities, and a favourable regulatory framework for drug development all contribute to the region's dominance.
The increasing prevalence of neurodegenerative disorders in North America continues to fuel market expansion. For example, the Alzheimer's Association forecasts that 6.2 million Americans aged 65 and older had Alzheimer's dementia in 2021, with the figure expected to rise to 13.8 million by 2060. Similarly, the Parkinson's Foundation estimates that nearly one million Americans suffer from Parkinson's disease. The region has also experienced a rapid acceptance of novel therapies, with the United States frequently being the first market to introduce revolutionary treatments. Despite controversy, the approval of Aduhelm for Alzheimer's disease in 2021 demonstrates the region's leadership in bringing novel treatments to market.
Europe is the world's second-largest market for neurodegenerative disease medicines, with Germany, France, and the United Kingdom leading the way in research and therapy acceptance. The European neurodegenerative disease market is predicted to develop at a 5.8% CAGR from 2024 to 2031, owing to increased government funding for neurological disorders research and an ageing population. The European Union's Horizon Europe initiative has provided major financing for neurodegenerative illness research, with an emphasis on understanding disease mechanisms and creating novel treatments.
Asia-Pacific is becoming the fastest-growing market for neurodegenerative disease treatments, with Japan and China driving the expansion. The region's market is expected to rise at a 7.2% CAGR from 2024 to 2031, owing to improved healthcare infrastructure, increased awareness of neurological illnesses, and rising healthcare expenditure. Japan, with its rapidly ageing population, has experienced an increase in neurological disease cases, pushing the government to focus more on tackling these disorders. China's vast population and rising prevalence of neurological illnesses make it an important market for future growth, with the government launching steps to improve diagnosis and treatment access.
Competitive Intelligence:
The Neurodegenerative Disease Market is characterised by fierce competition and substantial R&D expenditure. Key players are focussing on creating novel therapeutics, broadening their product portfolios through strategic collaborations and acquisitions, and increasing their market presence in emerging nations. Leading businesses such as Biogen, Roche, Novartis, and Sanofi are pioneering innovative medicines for a variety of neurodegenerative illnesses.
Biogen, a significant competitor in the multiple sclerosis industry, has ventured into Alzheimer's disease with the controversial approval of Aduhelm in 2021. Despite issues with Aduhelm's launch, the business recorded a 2% rise in revenue in 2022, demonstrating the potential of its neurology portfolio. Biogen has announced plans to invest $2.5 billion in R&D yearly, with a large chunk going towards neurodegenerative disease research.
Roche's acquisition of Gene therapy strengthened its position in the neurodegenerative illness industry, allowing it to develop therapies for rare neurological conditions. Ocrevus, the company's multiple sclerosis medicine, has had remarkable growth, with sales expected to exceed $5 billion by 2021.
Emerging companies such as Denali Therapeutics and Voyager Therapeutics are attracting attention for their novel approaches to treating neurodegenerative illnesses, which include gene treatments and small molecule medications that target specific genetic circuits. These developments increase competitiveness and drive more innovation in the market.
The sector is also seeing significant interest from technology businesses, with companies such as Verily (Alphabet) and Apple investing in digital health solutions for monitoring and controlling neurodegenerative illnesses. This approach opens up new prospects for collaborations between traditional pharmaceutical businesses and technology enterprises.
Analyst Opinion:
The Neurodegenerative Disease Market is positioned for considerable growth and transformation in the future years, owing to the critical need for better treatments for these terrible conditions. The market's trajectory will be shaped by advances in disease processes, the development of biomarkers for early detection, and the release of potentially disease-modifying medicines.
A major trend to keep an eye on is the push towards combination medicines and multimodal methods to treating neurodegenerative illnesses. As our understanding of these complex illnesses increases, it becomes obvious that addressing numerous pathways at the same time may be required to achieve meaningful clinical results. This method could result in novel medication combinations and treatment paradigms.
The use of digital health technology in neurodegenerative disease management is predicted to expand significantly. Wearable gadgets, smartphone apps, and AI-powered analytics tools have the potential to transform illness monitoring, allow for early intervention, and assist personalised treatment plans. Companies that can successfully integrate these digital technologies with traditional therapies stand to gain a competitive advantage.
Regulatory approaches to neurodegenerative disease treatments are anticipated to change, with more flexible approval processes based on biomarker data and surrogate objectives. This could speed up the research and approval of new medicines, but it also presents issues in guaranteeing long-term efficacy and safety.
Major Players:
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Biogen Inc.
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F. Hoffmann-La Roche Ltd.
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Novartis AG
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Sanofi S.A.
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Teva Pharmaceutical Industries Ltd.
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UCB S.A.
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Merck & Co., Inc.
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AbbVie Inc.
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Allergan plc (now part of AbbVie)
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H. Lundbeck A/S
Key Developments:
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In October 2023, Eli Lilly reported good Phase 3 findings for donanemab in early symptomatic Alzheimer's disease, demonstrating significant reduction of cognitive and functional loss.
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In August 2023, Biogen and Sage Therapeutics won FDA clearance for Zurzuvae (zuranolone) to treat postpartum depression, ushering in a novel approach to neurological illnesses.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Biogen Inc.
5.2. F. Hoffmann-La Roche Ltd.
5.3. Novartis AG
5.4. Sanofi S.A.
5.5. Teva Pharmaceutical Industries Ltd.
5.6. UCB S.A.
5.7. Merck & Co., Inc.
5.8. AbbVie Inc.
5.9. Allergan plc (now part of AbbVie)
5.10. H. Lundbeck A/S (LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Emerging gene therapies and precision medicine approaches
6.1.2. Integration of digital health solutions in disease management
6.1.3. Growing focus on combination therapies and multi-modal approaches
6.2. Market Drivers
6.2.1. Aging population and increasing prevalence of neurodegenerative disorders
6.2.2. Advancements in diagnostic technologies and biomarker research
6.2.3. Increasing R&D investments in novel treatment modalities
6.3. Market Restraints
6.3.1. High cost of treatment and stringent regulatory landscape
6.3.2. Challenges in demonstrating clinical efficacy in neurodegenerative disease trials
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY DISEASE TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Alzheimer's Disease
7.1.1. Early-onset Alzheimer's
7.1.2. Late-onset Alzheimer's
7.2. Parkinson's Disease
7.2.1. Idiopathic Parkinson's
7.2.2. Familial Parkinson's
7.3. Multiple Sclerosis
7.3.1. Relapsing-Remitting MS
7.3.2. Primary Progressive MS
7.3.3. Secondary Progressive MS
7.4. Huntington's Disease
7.5. Others
7.5.1. Amyotrophic Lateral Sclerosis (ALS)
7.5.2. Spinal Muscular Atrophy (SMA)
8. BY DRUG CLASS (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Immunomodulators
8.1.1. Interferon Beta
8.1.2. Glatiramer Acetate
8.1.3. Others
8.2. Cholinesterase Inhibitors
8.2.1. Donepezil
8.2.2. Rivastigmine
8.2.3. Galantamine
8.3. Dopaminergic Drugs
8.3.1. Levodopa
8.3.2. Dopamine Agonists
8.3.3. MAO-B Inhibitors
8.4. Others
8.4.1. N-Methyl-D-Aspartate (NMDA) Receptor Antagonists
8.4.2. Antipsychotics
9. BY DISTRIBUTION CHANNEL (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Hospital Pharmacies
9.1.1. Inpatient Pharmacies
9.1.2. Outpatient Pharmacies
9.2. Retail Pharmacies
9.2.1. Chain Pharmacies
9.2.2. Independent Pharmacies
9.3. Online Pharmacies
10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Mexico
10.2. South America
10.2.1. Brazil
10.2.2. Argentina
10.2.3. Rest of South America
10.3. Europe
10.3.1. Germany
10.3.2. United Kingdom
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Russia
10.3.7. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia
10.4.5. South Korea
10.4.6. Rest of Asia-Pacific
10.5. Middle-East
10.5.1. UAE
10.5.2. Saudi Arabia
10.5.3. Turkey
10.5.4. Rest of Middle East
10.6. Africa
10.6.1. South Africa
10.6.2. Egypt
10.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Disease Type:
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Alzheimer's Disease
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Parkinson's Disease
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Multiple Sclerosis
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Huntington's Disease
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Others
By Drug Class:
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Immunomodulators
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Cholinesterase Inhibitors
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Dopaminergic Drugs
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Others
By Distribution Channel:
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Hospital Pharmacies
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Retail Pharmacies
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Online Pharmacies
By Region:
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North America
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Europe
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Asia-Pacific
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Latin America
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Middle East & Africa
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