Neurodegenerative Drugs Market By Drug Class (Dopamine agonist , Decarboxylase inhibitors , Cholinesterase Inhibitors , Immunomodulators, Others ), By Indication (Parkinson’s Disease, Alzheimer’s Disease, Multiple Sclerosis , Others), By Distribution Channel (Hospital Pharmacies, Online Providers, Drug Stores and Retail Pharmacies): Global Opportunity Analysis and Industry Forecast, 2021-2031
The neurodegenerative drugs market valued for $36,277.20 million in 2021 and is estimated to reach $74,809.38 million by 2031, exhibiting a CAGR of 7.5% from 2022 to 2031. Neurodegenerative diseases refer to a group of disorders that primarily affect the neurons (nerve cells) in the brain and spinal cord, leading to their gradual degeneration. These diseases are usually progressive and chronic, and their symptoms worsen over time. Examples of neurodegenerative diseases include Alzheimer's disease, Parkinson's disease, Huntington's disease, amyotrophic lateral sclerosis (ALS), and multiple sclerosis (MS). These conditions have a significant impact on a person's cognitive, motor, & sensory functions, and can ultimately lead to disability and death.
Drugs used to treat neurodegenerative diseases are medications that are designed to slow down the progression of the disease and/or relieve symptoms. The specific drugs used will depend on the type of neurodegenerative disease being treated. For example, drugs used to treat Alzheimer's disease include cholinesterase inhibitors and memantine, while drugs used to treat Parkinson's disease include levodopa, dopamine agonists, and MAO-B inhibitors.
The major factor that drives the growth of the global neurodegenerative drugs market is rise in demand for advanced drug types for controlling symptoms associated with neurodegenerative diseases. In addition, a strong pipeline for neurodegenerative disease is a key trend in the market, which is expected to fuel the growth of the market. Significant surge in patient population has led to increase in demand for drugs. However, complications associated with drug development process and side effects of drugs are expected to hamper the market growth.
On the other hand, high growth potential in untapped emerging countries, increase in pipeline products such as BAF312 & Orelabrutinib for treating multiple sclerosis disease, and continuous drug approval of neurodegenerative diseases are anticipated to provide lucrative opportunities to the market players. For instance, in January 2020, Novartis AG announced that the European Commission (EC) has approved Mayzent (siponimod) for the treatment of adult patients with secondary progressive multiple sclerosis (SPMS) with active disease evidenced by relapses or imaging features of inflammatory activity.
The neurodegenerative drugs market is segmented into drug class, indication, distribution channel, and region. By drug class, the market is categorized into dopamine agonists, decarboxylase inhibitors, cholinesterase inhibitors, immunomodulators, and others. By indication, the market is segregated into Parkinson’s disease, Alzheimer’s disease, multiple sclerosis, and others. By distribution channel, the market is classified into hospital pharmacies, drug store & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global neurodegenerative drugs market are AbbVie Inc., Biogen, F. Hoffmann-La Roche Ltd., Novartis AG, Orion Corporation, Sanofi, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Viatris Inc., and UCB S.A. Key players operating in the market have adopted product approval, acquisition, collaboration, and agreement as their key strategies to expand their corporate training market share.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the neurodegenerative drugs market analysis from 2021 to 2031 to identify the prevailing neurodegenerative drugs market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the neurodegenerative drugs market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global neurodegenerative drugs market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Drug ClassDopamine agonist
Decarboxylase inhibitors
Cholinesterase Inhibitors
Immunomodulators
Others
By IndicationParkinson’s Disease
Alzheimer’s Disease
Multiple Sclerosis
Others
By Distribution ChannelHospital Pharmacies
Online Providers
Drug Stores and Retail Pharmacies
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
F. Hoffmann-La Roche Ltd.
Teva Pharmaceutical Industries Ltd.
Sun Pharmaceutical Industries Ltd.
Orion Corporation
Biogen
Sanofi
Viatris Inc.
Novartis AG
UCB S.A.
AbbVie Inc.
Please Note: It will take 7-10 business days to complete the report upon order confirmation.