Neuroprotection Market: Current Analysis and Forecast (2022-2030)

Neuroprotection Market: Current Analysis and Forecast (2022-2030)

Neuroprotection refers to the process of protecting the nervous system from damage or degeneration. The nervous system is a complex network of cells and tissues that controls the body's functions, including movement, sensation, and cognition. Neuroprotection can be achieved through various means, including the use of drugs, therapies, and lifestyle modifications. For example, drugs that target specific proteins or enzymes involved in the process of neurodegeneration can be used to protect the nervous system. Therapies such as physical therapy, occupational therapy, and speech therapy can also be used to protect the nervous system by promoting nerve function and preventing further damage.

The neuroprotection market is expected to grow at a steady rate of around 6% owing to the Increasing prevalence of neurological disorders. The incidence of neurological disorders such as Alzheimer's disease, Parkinson's disease, and multiple sclerosis is increasing due to factors such as an aging population, genetic predisposition, and lifestyle factors. For instance, as per WHO, more than 55 million people were diagnosed with dementia in 2021, and there are nearly 10 million new cases every year. Also, in 2019, globally, 50 million people were diagnosed with epilepsy.

• Based on product type, the market is segmented into free radical trapping agents (antioxidants); apoptosis inhibitors; anti-inflammatory agents; glutamate antagonists (anti-excitotoxic agents); and others. The free radical trapping agents (antioxidants) category to witness higher CAGR during the forecast period owing to the aging population and the rising incidence of neurodegenerative diseases such as Alzheimer's and Parkinson's are driving the demand for neuroprotection treatments which will further boost the growth of this segment.
• On the basis of application, the market is categorized into neurodegenerative disorders, alzheimer's disease, parkinson's disease, multiple sclerosis, and other. Among these, the neurodegenerative disorders held a significant share in the market in 2021. This is mainly due to the increasing prevalence of neurodegenerative disorders, the growing awareness of the importance of maintaining brain health, and the need for effective treatments are driving the growth of the neuroprotection market. For instance, as per International Agency for Research on Cancer, annual incidence rates of 10–15 per 100 000 have been noted in most surveys worldwide. Prevalence may reach 2% in persons aged 65 years and older
• Based on end-user, the neuroprotection market has been classified into hospitals & specialty clinics, research institutes & academic centers, long-term care facilities, and others. The hospitals & specialty clinics category is to witness higher adoption of neuroprotection during the forecast period. This is mainly due to the high preference of patients for hospitalization to have a more accurate diagnosis of their neurological diseases, increasing prevalence of neurological disorders, coupled with the rising demand for personalized medicine, is driving the growth of the healthcare provider segment in the neuroscience market.
• For a better understanding of the market adoption of the neuroprotection industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. owing to the North America is home to a large geriatric population and consists of a significant portion of American society. As per the administration for community living, the number of older Americans has increased by 14.4 million (or 36%) since 2009 in 2019. With the rising age, the risk of neurological disorders also increases which becomes an important factor for the growth of the neuroprotection market to deal with the increasing cases. Furthermore, the presence of advanced technology in the region and the major economies such as the U.S. is also a responsible factor for the large market share of neuroprotection industry in North America.
• Some of the major players operating in the market include AbbVie Inc.; DAIICHI SANKYO COMPANY; Astrocyte Pharmaceuticals; AstraZeneca; Biogen; Novartis AG; Lilly; F. Hoffmann-La Roche Ltd; Teva Pharmaceutical Industries Ltd.; and Merck KGaA.

The neuroprotection market is expected to grow at a strong CAGR of around 6% during the forecast period owing to growing awareness of neurological health and advancements in neuroprotective technologies and the increasing prevalence of neurological disorders such as Alzheimer's, Parkinson's, and multiple sclerosis. Thus, the population ages, the incidence of these diseases is expected to rise, creating a growing demand for neuroprotective treatments. Additionally, advances in technology and research have led to the development of new and more effective neuroprotective drugs and therapies, further driving demand for neuroprotection. Furthermore, the increasing adoption of neuroprotective treatments in long-term care facilities, which are a major driver of demand for these products. For instance, in July 2020, the National Institute of Mental Health (NIMH), one in four adults in the U.S. has a mental disorder that can be diagnosed, and nearly 6% have severe disabilities. Also, severe mental illness costs the United States more than USD 317 billion annually. As a result, the Neuroprotection Market is expected to continue to grow rapidly in the coming years, providing opportunities for companies operating in this space.

Some of the major players operating in the market include AbbVie Inc.; DAIICHI SANKYO COMPANY; Astrocyte Pharmaceuticals; AstraZeneca; Biogen; Novartis AG; Lilly; F. Hoffmann-La Roche Ltd; Teva Pharmaceutical Industries Ltd.; and Merck KGaA Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst application, the parkinson's disease category grow at a fastest CAGR during the forecast period”

Based on application, the market is segmented into neurodegenerative disorders, alzheimer's disease, parkinson's disease, multiple sclerosis, and other. Amongst these, the parkinson's disease category grow at a fastest CAGR during the forecast period. This is because of increasing prevalence of Parkinson's disease, coupled with the growing demand for neuroprotective treatments, has driven the growth of the Neuroprotection Market. As more people are diagnosed with Parkinson's disease, there is a greater need for effective treatments that can help to slow the progression of the disease and improve quality of life. This has led to the development of new neuroprotective drugs and therapies, as well as the expansion of existing treatment options. For instance, according to the Parkinson's Foundation, more than 10 million people worldwide are living with Parkinson’s Disease.

“Amongst end-user, the wireless smart home technology held the majority share of the market in 2021”

By end-user, the market is segmented into hospitals & specialty clinics, research institutes & academic centers, long-term care facilities, and others. Among these, wireless smart home technology captured the majority share of the Neuroprotection Market in 2021. This is mainly due to Long-term care facilities provide care for patients with chronic conditions such as Alzheimer's disease, Parkinson's disease, and multiple sclerosis, all of which require neuroprotective treatments. The increasing number of patients with these conditions has led to a growing demand for neuroprotective drugs and therapies, which in turn has driven the growth of this segment.

“APAC is the most favorable region for the growth of the neuroprotection market in 2021”

APAC is the most favorable region for the growth of the neuroprotection market due to the presence of emerging economies in the region such as China and India. The technological advancements, along with the rising healthcare expenditure in the region attributes to the fast growth of the market. Furthermore, rising prevalence of neurological diseases in India and China are also drive the neuroprotection market in the region. For instance, according to the Chinese Center for Disease Control and Prevention, Beijing 2022, In Beijing, there were 47 800 cases of Parkinson’s disease in 2019, an increase of 397.68% compared with 1990.

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