Global Neurodegenerative Disease Therapeutics Market - 2024-2031

Global Neurodegenerative Disease Therapeutics Market - 2024-2031

The global neurodegenerative disease therapeutics market reached US$ 11.50 billion in 2023 and is expected to reach US$ 24.32 billion by 2031, growing at a CAGR of 9.8% during the forecast period 2024-2031.

Neurodegenerative diseases are a group of progressive conditions that lead to the gradual degeneration and death of nerve cells, particularly affecting the brain and spinal cord. These disorders, which include well-known conditions such as Alzheimer's disease, Parkinson's disease, and Huntington's disease, can severely impact an individual's cognitive and motor functions.

There is a growing need for neurodegenerative disease therapeutics with the rising incidence of these diseases. For instance, according to the Alzheimer's Association, An estimated 6.9 million Americans age 65 and older are existing with Alzheimer's in 2024. Nearly 7 million Americans are living with Alzheimer's. By 2050, this number is projected to rise to nearly 13 million.

The pharmaceutical companies manufacturing therapeutic drugs for neurodegenerative diseases are forming strategic partnerships and collaborations to expand their businesses around the globe. In December 2024, Novartis entered a worldwide licensing and partnership agreement with PTC Therapeutics to develop PTC518, a potential oral therapy for Huntington’s disease (HD). The PTC518 Huntington’s disease program also encompasses related molecules. The partnership is set to enhance Novartis’ focus on neurodegenerative conditions.

Market Dynamics: Drivers & Restraints

Rising Approvals for Innovative Solutions

The neurodegenerative disease therapeutics market is driven significantly by a combination of increasing drug approvals, a growing aging population, and the rising prevalence of conditions such as Alzheimer's disease, Parkinson's disease, and amyotrophic lateral sclerosis (ALS). As regulatory agencies like the FDA and EMA approve more treatments, patients and healthcare providers gain access to a broader array of options tailored to meet divere patient needs.

In September 2024, Roche received the United States Food and Drug Administration approval for OCREVUS ZUNOVO (ocrelizumab & hyaluronidase-ocsq) for the treatment of relapsing multiple sclerosis (RMS) and primary progressive multiple sclerosis (PPMS). OCREVUS ZUNOVO is the first and only twice-a-year, healthcare professional (HCP)-to administer approximately 10-minute subcutaneous (SC) injections approved for both these forms of multiple sclerosis, giving people living with MS more treatment options. This trend not only enhances treatment personalization but also fosters competition among pharmaceutical companies, leading to innovative solutions that address the complexities of these diseases.

The aging global population is a critical factor contributing to the rising prevalence of neurodegenerative diseases. With more individuals living longer, the incidence of these conditions is expected to increase substantially. For example, it is projected that the number of people diagnosed with Alzheimer's disease in the U.S. will rise from approximately 6.5 million in 2022 to 12.7 million by 2050. This surge in diagnoses amplifies the demand for effective treatments, prompting higher approval rates for drugs targeting these debilitating conditions.

Companies are focusing on developing disease-modifying therapies that aim to slow or halt disease progression rather than merely alleviating symptoms. For instance, in January 2024, AbbVie launched PRODUODOPA (foslevodopa/foscarbidopa) in the European Union for the treatment of advanced Parkinson's disease with severe motor fluctuations and hyperkinesia (excessive movement) or dyskinesia (involuntary movement). This shift towards innovative treatment approaches is reflected in the anticipated growth of the neurodegenerative disease therapeutics market.

Side effects and safety concerns

The presence of significant side effects in current treatments for neurodegenerative diseases, such as Alzheimer's and Parkinson's, presents a substantial barrier to the growth of the neurodegenerative disease therapeutics market. Common adverse effects, including nausea, fatigue, and cognitive disturbances, can severely diminish patients' quality of life, leading to poor adherence to prescribed therapies.

When patients discontinue their medications due to these side effects, it not only worsens the progression of the disease but also fosters a general reluctance to try newer medications that may share similar side effect profiles. This reluctance can hinder market growth by reducing the patient population willing to engage with innovative therapies, thus limiting the potential for new drugs to gain traction in a competitive landscape.

Segment Analysis

The global neurodegenerative disease therapeutics market is segmented based on disease type, drug class, route of administration, end-user, and region.

Drug class segment is expected to dominate the global neurodegenerative disease therapeutics market share

The drug class segment is expected to hold a dominant position in the neurodegenerative disease therapeutics market due to the diverse range of effective treatments available for various conditions, including Alzheimer's disease, Parkinson's disease, and multiple sclerosis. This segment encompasses several key categories, such as immunomodulators, dopamine agonists, cholinesterase inhibitors, and N-methyl-D-aspartate (NMDA) receptor antagonists, each playing a crucial role in managing symptoms and potentially modifying disease progression.

Dopamine agonists are also gaining traction, especially for Parkinson's disease management. Several companies are conducting rigorous research to innovate new therapeutics to treat neurodegenerative diseases effectively. For instance, in July 2023, Calibr, the drug discovery division of Scripps Research that translates innovative medicines from “bench to bedside,” initiated a healthy volunteer first-in-human phase 1 clinical trial of PDM608 for the treatment of multiple neurodegenerative diseases.

Geographical Analysis

North America is expected to hold a significant position in the global neurodegenerative disease therapeutics market share

North America holds a dominant position in the global neurodegenerative disease therapeutics market and is expected to hold the major portion of the market during the forecast period. The region’s market growth is attributed to the increasing incidence of neurodegenerative diseases, increasing research and development of innovative treatment options, the presence of a large number of multinational pharmaceutical companies in the region and the presence of strong regulatory support and increasing funding for neurodegenerative disease research.

Government funding plays a crucial role in driving the neurodegenerative disease therapeutics market in North America by supporting research, development, and innovation in this critical healthcare sector. With the rising funding, the research and development of innovative therapies are being raised which is expected to expand the region’s market growth. For instance, following a $100 million increase signed into law in March 2024, and added to current NIH spending, annual federal funding for Alzheimer's research will be as much as $3.8 billion. Additionally, in fiscal year 2022, the NINDS funded approximately $125 million out of a total of $259 million in NIH-supported PD research.

Additionally, the increasing number of drug approvals is significantly driving the neurodegenerative disease therapeutics market in North America. With the increasing number of approvals in the region, there are rising treatment options for individuals who are in need. Companies are increasingly developing the neurodegenerative disease drugs to meet the growing demand. For instance, in August 2024, Amneal Pharmaceuticals, Inc. received the U.S. Food and Drug Administration (FDA) approved CREXONT (carbidopa and levodopa) extended-release capsules for the treatment of Parkinson’s disease (PD). CREXONT is a novel, oral formulation of carbidopa/levodopa (CD/LD) that combines both immediate-release (IR) granules and extended-release (ER) pellets.

In May 2024, Teva Pharmaceuticals received the U.S. Food and Drug Administration (FDA) approval for AUSTEDO XR as a one-pill, once-daily treatment option, now with four new tablet strengths (30, 36, 42, 48 mg) indicated in adults for TD and HD chorea.

Thus, the above factors are expected to expand North America’s market share in the neurodegenerative disease therapeutics market.

Asia Pacific is growing at the fastest pace in the global neurodegenerative disease therapeutics market

The Asia-Pacific region is at the fastest growth in the global neurodegenerative disease therapeutics market, driven by several factors. One of the key factors for this growth is the rising prevalence of neurodegenerative diseases, such as Alzheimer's and Parkinson's due to which there is a heightened healthcare demand in countries like China and India. For instance, according to the report by the National Institute of Health in 2024, In 2021, China recorded the highest age-standardized incidence and prevalence of PD among the G20 countries, at 24.3 per 100,000 and 245.7 per 100,000, respectively. This prevalence is expected to rise and the demand for drugs and treatment is expected to increase in the region which is collectively increasing the region’s market share.

The region's robust pharmaceutical industry significantly contributes to this growth, featuring a strong presence of both multinational and local companies that are actively engaged in research and development. This commitment enhances the availability of innovative therapies tailored to meet the needs of patients. For instance, in September 2024, Otsuka Pharmaceutical Co., Ltd. (Otsuka) obtained regulatory approval in Japan on an additional treatment indication for Rexulti (generic name: brexpiprazole), described as the treatment of ""an excessive motor activity or physically/verbally aggressive behavior due to rapid changes in mood, irritability, and outbursts associated with dementia due to Alzheimer's disease. Thus, the above factors are expected to contribute to the fastest growth of the region’s market.

Competitive Landscape

The major global players in the neurodegenerative disease therapeutics market include AbbVie Inc., Amneal Pharmaceuticals LLC., Eisai Co., Ltd., F. Hoffmann-La Roche Ltd, Merck KGaA, Novartis AG, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co., Ltd. and Orion Corporation among others.

Why Purchase the Report?
• Pipeline & Innovations: Reviews ongoing clinical trials, and product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
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• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
• Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The Global Neurodegenerative Disease Therapeutics market report delivers a detailed analysis with 60+ key tables, more than 50 visually impactful figures, and 176 pages of expert insights, providing a complete view of the market landscape.

Target Audience 2023
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