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The neurodegenerative diseases therapeutics market size is estimated to grow by USD 21.29 billion at a CAGR of 8.51% between 2023 and 2028. The market is experiencing growth driven by several key factors. Firstly, a strong drug development pipeline is bringing innovative treatments to address various health conditions, particularly neurodegenerative diseases. Secondly, there is high research funding dedicated to neurodegenerative diseases, which is accelerating the discovery and development of new therapies. Lastly, the availability of highly sensitive diagnostic modalities is improving early detection and diagnosis, leading to better patient outcomes. These factors collectively highlight the dynamic advancements in medical research and diagnostics, contributing to the market's robust growth.
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The market in the residential sector is experiencing significant growth, driven by advancements in the automatic cleaning industry. The suction mechanism sector features vacuum suction and fan absorption window cleaning robots equipped with brushes and wipers for thorough cleaning. The battery-powered sector and wired or electric sector offer versatile options for consumers, enhancing compatibility with Wi-Fi and app connectivity. Innovative products like robotic vacuums and window cleaning robots use advanced sensors to navigate and clean various surfaces, including floors and glass surfaces. These devices often feature a two-step cleaning process for effective dirt removal and polishing. The market also sees applications in commercial and industrial settings, driven by building constructions and industrialization activities. Additionally, remote control features and security systems are becoming standard in modern robots pet dogs market and floor cleaning robots, further expanding their appeal. Robotic vacuum with remote control feature and advanced sensors are gaining popularity in the compatibility sector, offering efficient cleaning surfaces and glass surface in both commercial and industrial applications, with robotic cleaners covering extensive cleaning area. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the 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 Parkinson's 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.
An increase in the aging population, with declining fertility and increasing longevity, is one of the primary 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 increased the risk of developing neurological disorders such as Alzheimer's disease and Parkinson's disease.
Furthermore, in underdeveloped regions such as Sub-Saharan Africa, neurological disorders are commonly found in the elderly; degenerative diseases such as dementia and PD are the most common diseases reported in the region. Such factors will further support the market growth in the coming years.
One of the key challenges to the 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.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AB Science SA - The company offers neurodegenerative diseases therapeutics named Masitinib phase 3.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The 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.
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The robotic toolkit segment showed a gradual increase in the market share of USD 14.43 billion in 2018. The Battery-powered sector is witnessing significant innovation, with power sources ranging from rechargeable batteries to solar panels. Cleaning modes vary from standard to specialized, such as two-step cleaning processes, which combine vacuum suction and magnets for thorough surface cleaning. Safety features, such as visualization equipment and low-cost cleaning robots, are essential for ensuring efficient and safe cleaning in the home environment. In the Commercial sector, the Market is witnessing the integration of advanced technologies, such as AI technology, the Internet of Things, micro-electromechanical systems, sensors, and vision technologies, to develop robotic innovations like cleaning robots and visualization equipment.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Moreover, advancements in cleaning robots, visualization equipment, and low-cost cleaning robots are enhancing interoperability with smart speakers and virtual assistants. Cloud robotics and big data are also playing crucial roles in optimizing cleaning performance and human labor reduction. In summary, the Neurodegenerative Diseases Therapeutics Market is experiencing dynamic growth, driven by advancements in technology, safety features, and automation. Smart homes, AI technology, and human labor reduction are key focus areas, with cleaning modes, sensors, and vision technologies playing pivotal roles in enhancing efficiency and effectiveness.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Alzheimers Disease Therapeutics Market: Alzheimers Disease Therapeutics Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, UK, Germany, Japan - Size and Forecast
Neurological Biomarkers Market: Neurological Biomarkers Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, France, China - Size and Forecast
Dementia and Movement Disorder Treatment Market: Dementia and Movement Disorder Treatment Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, France - Size and Forecast
The market is driven by advances in AI, data science, and cognitive technologies. These innovations enable advanced analytics for diagnosing and treating conditions like Alzheimer's and Parkinson's disease. Hospitals utilize these technologies to enhance hygiene and patient care, while robotics innovation supports patient monitoring and assistance.
The market also benefits from the integration of remote control features and smart home integration, which allow for more precise and convenient management of therapeutic devices. Commercial and industrial sectors, including the car industry, meet environmental requirements through improved technologies. The adoption of robotic cleaners with advanced sensors and remote controllers aids in maintaining cleanliness and hygiene in medical and caregiving settings, reducing the need for a permanent caretaker or maid and minimizing security risks. These devices ensure the removal of dirt particles without leaving streaks, even under various weather conditions.
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Market Scope |
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Report Coverage |
Details |
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Page number |
155 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.51% |
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Market growth 2024-2028 |
USD 21.29 billion |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
7.67 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 40% |
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Key countries |
US, Canada, UK, Germany, Japan, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AB Science SA, AbbVie Inc., Acadia Pharmaceuticals Inc., Biogen Inc., F. Hoffmann La Roche Ltd., H Lundbeck AS, Mitsubishi Chemical Corp., Novartis AG, Sanofi SA, and Teva Pharmaceutical Industries Ltd. |
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Market dynamics |
Parent market analysis, Market Forecasting, 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 market forecast period |
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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. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Indication
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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