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Based on Technavio's market sizing methodology, the neurodegenerative diseases therapeutics market size is predicted to surge by USD 19.74 billion from 2021 to 2026 at a CAGR of 7.98%.
This neurodegenerative diseases therapeutics market research report extensively covers market segmentations by the following:
This neurodegenerative diseases therapeutics industry report further provides detailed data on several market vendors, including AB Science SA, AbbVie Inc., Acadia Pharmaceuticals Inc., Biogen Inc., F. Hoffmann La Roche Ltd., H Lundbeck AS, Mitsubishi Chemical Holdings Corp., Novartis AG, Sanofi, and Teva Pharmaceutical Industries Ltd. among others. One of the key highlights of this report is the post COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the future.
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The strong drug development pipeline is notably driving the neurodegenerative diseases therapeutics market growth, although factors such as lack of disease-modifying therapies may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the neurodegenerative diseases therapeutics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Neurodegenerative Diseases Therapeutics Market Driver
One of the key factors driving the global neurodegenerative diseases therapeutics market growth is the strong drug development pipeline owing to the increasing incidence of neurogenerative diseases. For instance, as per the Centers for Disease Control and Prevention (CDC), in 2021, Alzheimer's disease affected around 6.2 million people in the US and is expected to nearly triple to 14 million people by 2060. Thus, there are several drugs in the pipeline due to the increase in the R&D. For instance, ABT-SLV187 by AbbVie is in phase III. APL-130277 for parkinsons disease by Sunovion is also in phase III. The introduction of these drugs in the market will drive the market growth in the forecast period.
Key Neurodegenerative Diseases Therapeutics Market Trend
Increase in the aging population, with declining fertility and increasing longevity, is one of the key neurodegenerative diseases therapeutics market trends that is expected to impact the industry positively in the forecast period. According to WHO, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. Medicine has prolonged the morbidity phase, which has, resulted in an increase in the risk of developing neurological disorders such as alzheimers disease and parkinsons disease. In underdeveloped regions such as Sub-Saharan Africa, neurological disorders are commonly found in the elderly; degenerative diseases such as dementia and PD were the most common diseases reported in the region. Such factors will further support the market growth in the coming years.
Key Neurodegenerative Diseases Therapeutics Market Challenge
One of the key challenges to the global neurodegenerative diseases therapeutics market growth is the lack of disease-modifying therapies. The prevalence of neurodegenerative diseases is rising with the increase in the aging population globally. For instance, AD doubles in frequency every five years after 65 years of age and affects up to 50% of those over 85 years of age. However, at present, there are no disease-modifying therapies that work by impacting the disease processes, for some neurodegenerative diseases. Although diseases such as parkinsons and Alzheimers have drugs that can provide symptomatic relief, some neurodegenerative diseases such as huntingtons disease, which is caused due to a mutation in the huntingtin gene, have no approved therapy for treatment. Such factors may limit the market growth in the forecast years.
This neurodegenerative diseases therapeutics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global neurodegenerative disease therapeutics market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the neurodegenerative diseases therapeutics market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the neurodegenerative diseases therapeutics market encompasses successful business strategies deployed by the key vendors. The neurodegenerative diseases therapeutics market is concentrated and the vendors are deploying growth strategies such as investment in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The neurodegenerative diseases therapeutics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the neurodegenerative diseases therapeutics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for neurodegenerative diseases therapeutics in North America. However, market growth in this region will be slower than the growth of the market in other regions.
The presence of leading players such as Biogen, Johnson & Johnson, and Pfizer and several collaborations among various key players will facilitate the neurodegenerative diseases therapeutics market growth in North America over the forecast period. For instance, in February 2020, Biogen and Sangamo announced a global collaboration to develop gene regulation therapies for AD, PD, neuromuscular, and other neurological diseases.
This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 adversely affected the healthcare sector of various countries in the region. Governments in the region imposed a nationwide lockdown to control the spread of the disease. Moreover, due to the highest number of cases of the disease in the world, the hospitals in the region were running out of space, which significantly reduced the number of other non-emergency healthcare services such as neurodegenerative diseases. However, government initiatives such as mass vaccination drives and other restrictions such as social distancing have helped the regional government to curb the spread of the virus. As a result, the government has removed the lockdowns and relaxed the restrictions, the treatment of piled-up cases of neurodegenerative diseases has started, which will further drive the market for regional neurodegenerative diseases therapeutics during the forecast period.
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The neurodegenerative diseases therapeutics market share growth by the multiple sclerosis segment will be significant during the forecast period. Researchers are focusing on the innovation of techniques that may help in the identification of risk factors associated with the progression of MS in an individual. The increase in R&D for the development of new drugs for the treatment of MS owing to an increase in the prevalence of MS globally will drive the segment growth in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the neurodegenerative diseases therapeutics market size and actionable market insights on post COVID-19 impact on each segment.
Neurodegenerative Diseases Therapeutics Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.98% |
Market growth 2022-2026 |
$ 19.74 billion |
Market structure |
Concentrated |
YoY growth (%) |
7.6 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key consumer countries |
US, Canada, UK, Germany, Japan, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AB Science SA, AbbVie Inc., Acadia Pharmaceuticals Inc., Biogen Inc., F. Hoffmann La Roche Ltd., H Lundbeck AS, Mitsubishi Chemical Holdings Corp., Novartis AG, Sanofi, and Teva Pharmaceutical Industries Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Indication
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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