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The neurologic disorders therapeutics market size is forecast to increase by USD 27.2 billion, at a CAGR of 4.49% between 2023 and 2028. The growth of the market is influenced by several pivotal factors. Firstly, the approval of novel drugs marks a significant milestone, driving advancements in treatment options and expanding therapeutic choices for various conditions. This regulatory support fosters innovation and investment in pharmaceutical research and development, propelling market growth. Secondly, alliances and collaborations among pharmaceutical companies, research institutions, and healthcare providers facilitate knowledge sharing, resource pooling, and the development of synergistic solutions, enhancing market competitiveness. Lastly, changing lifestyles characterized by evolving dietary habits, sedentary behaviors, and environmental factors contribute to shifting disease patterns and healthcare needs, thereby stimulating demand for new pharmaceutical interventions. Together, these factors underscore the dynamic landscape of the pharmaceutical market, emphasizing the importance of innovation, collaboration, and responsiveness to changing healthcare dynamics.
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Neurologic disorders, including Alzheimer's disease, Parkinson's disease, epilepsy, multiple sclerosis, and stroke, are a significant burden on global health. According to neuroscience research, these conditions affect millions of people worldwide, leading to a high demand for effective therapeutics. The neurologic disorders therapeutics market is primarily driven by the increasing prevalence of these conditions and the need for better treatment options. Pharmaceutical companies are investing heavily in research and development to create new therapies for neurological and neuropsychiatric conditions. Effective therapeutics for mental health disorders, such as anxiety, are also in high demand.
Alzheimer's disease, for instance, is a progressive neurological condition that affects memory and cognitive function. Parkinson's disease, another neurodegenerative disorder, causes motor symptoms like tremors and rigidity. Epilepsy is a seizure disorder, while multiple sclerosis is a demyelinating disease that affects the central nervous system. The market is expected to grow significantly due to patent expiration of key drugs like Copaxone and Invega, leading to the availability of generic products. However, the development of new therapies and the high cost of psychiatric drugs remain challenges for the market. Deloitte predicts that the global spending on neuroscience research and development will reach USD 80 billion by 2025. The market is also impacted by the rising burden of cardiovascular diseases, cancer, and other conditions that affect the neurons and glial cells in the brain.
Approval of novel drugs is notably driving market growth. The neurologic disorders therapeutics market is experiencing notable expansion due to the approval of innovative drugs for treating conditions such as Parkinson's disease, anxiety, depression, addiction, and social isolation. In 2021, Janssen Pharmaceuticals, Inc. secured US FDA approval for PONVORY (ponesimod), an oral selective S1P1 modulator for adults with relapsing forms of Multiple Sclerosis (MS). PONVORY boasts superior efficacy in reducing annualized relapse rates compared to established oral therapies. Likewise, in 2020, Novartis AG gained approval for Kesimpta (ofatumumab), a subcutaneous injection for relapsing MS patients.
Kesimpta, a targeted B-cell therapy, demonstrates superior efficacy with a comparable safety profile to teriflunomide. Venture capital investments continue to fuel research and development in this sector, ensuring the availability of advanced therapeutic solutions for neurological disorders. Thus, such factors are driving the growth of the market during the forecast period.
The advent of regenerative medicines is the key trend in the market. The neurologic disorders therapeutics market confronts a significant challenge due to the absence of curative treatments for conditions like Parkinson's disease, anxiety, depression, addiction, and social isolation. Current approved therapies offer symptomatic relief or slow down the progression of these indications. To address this issue, numerous pharmaceutical companies and research institutions are investing in developing regenerative therapies, such as stem cell therapy and gene therapy.
Stem cell therapy involves utilizing stem cells, including mesenchymal stromal cells and embryonic stem cells, to treat severe neurological conditions. This innovative approach holds great potential for reversing the damage caused by neurological disorders and ultimately curing the disease. Venture capital investments play a crucial role in funding these research initiatives and bringing novel therapies to market. Thus, such trends will shape the growth of the market during the forecast period.
The advent of neurostimulation devices is the major challenge that affects the growth of the market. The neurologic disorders therapeutics market caters to a variety of conditions including Parkinson's disease, anxiety, depression, addiction, and social isol ation. Traditional treatments involve the use of antidepressant drugs, such as dopamine agonists, acetylcholinesterase inhibitors, tricyclic antidepressants (TCAs), and selective serotonin reuptake inhibitors (SSRIs). While these drugs offer therapeutic benefits, they come with potential side effects and require frequent administration and long-term use, leading to a significant financial burden for patients.
In response, research and development efforts have focused on non-invasive neuromodulation devices as alternative treatment options. These devices, which utilize advances in neuroscience, hold great promise for the treatment of neurologic disorders and are gaining increasing interest from clinicians, healthcare systems, patients, industry, and payers. Hence, the above factors will impede the growth of the market during the forecast period
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.
AbbVie Inc. - The company offers solutions for neurologic disorders therapeutics to help improve the physical well being of people.
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 CNS segment is estimated to witness significant growth during the forecast period. Neurologic Disorders Therapeutics Market encompasses Diagnostics and Therapeutics for various Central Nervous System (CNS) conditions, including Alzheimer’s disease, Multiple Sclerosis, Epilepsy, Parkinson’s disease, and Stroke. Pharmaceutical companies are investing significantly in R&D efforts to develop Effective Therapeutics for these disorders. With Patent expiration of key drugs like Copaxone and Invega, the market is witnessing an increase in the availability of Generic products. Orphan drugs and CNS Pharmaceuticals are also playing a crucial role in addressing Neurological Disorders and Mental Health conditions, such as Dementia and other Neurodegenerative diseases.
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The CNS was the largest and was valued at USD 64.30 billion in 2018. The burden of Disease from neuroscience conditions, including Neurological and Neuropsychiatric disorders, is a major concern, leading to increased awareness programs and Research and innovation in this field. Deloitte reports that the global market for Psychiatric Drugs is expected to grow due to the rising prevalence of Cardiovascular diseases, cancer, and neurons and glial cells damage. The pipeline includes Drug-delivery systems, Transdermal patches, and Pipeline products, offering potential solutions for Neurologic Disorders Therapeutics. Neuroscience continues to be a key focus area for Pharmaceutical companies, driving innovation in areas like Neurodegenerative diseases and Mental health disorders.
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North America is estimated to contribute 38% 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. Neurologic Disorders Therapeutics Market encompasses Diagnostics and Therapeutics for various Central Nervous System (CNS) conditions, including Alzheimer’s disease, Multiple Sclerosis, Epilepsy, Parkinson’s disease, and Stroke. Pharmaceutical companies are investing significantly in the development of Effective therapeutics for these disorders, with a focus on Neurodegenerative diseases and Mental health disorders. The Treatment rate for neurological conditions is increasing due to the availability of advanced pharmaceutical interventions, such as Orphan drugs like Copaxone and Invega.
In addition, R&D efforts are underway to create Pipeline products, including CNS Pharmaceuticals' Berubicin, utilizing Drug-delivery systems like Transdermal patches. Neurological disorders, including neuropsychiatric conditions, impose a substantial Burden of Disease, necessitating continuous Awareness programs for Dementia and other mental health concerns. Deloitte reports that psychiatric drugs are among the fastest-growing therapeutic areas, surpassing cardiovascular diseases and cancer in sales growth. Neuroscience research and innovation are crucial to addressing the needs of the growing population of patients with neurological and neuropsychiatric conditions, which involve the intricate functioning of neurons and glial cells.
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.
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Neurological disorders, including Alzheimer's disease, multiple sclerosis, epilepsy, Parkinson's disease, and stroke, affect millions of people worldwide. The therapeutics market for these conditions is witnessing significant growth due to the increasing treatment rate and the development of effective therapeutics. Pharmaceutical companies are focusing on the research and development of new drugs and drug-delivery systems, such as transdermal patches, to address the unmet medical needs in this field. CNS Pharmaceuticals, for instance, is developing Berubicin, a novel anthracycline for the treatment of glioblastary multiforme, a type of brain cancer. R&D efforts are also underway to create orphan drugs for rare neurological and neuropsychiatric conditions. The patent expiration of major drugs like Copaxone and Invega is expected to boost the market for generic products. The burden of disease for neurological and mental health disorders, including Alzheimer's disease, dementia, and cardiovascular diseases, is a major concern. Neuroscience research and innovation are crucial in developing new therapeutics and improving patient outcomes.
In addition, Deloitte reports that psychiatric drugs are among the top-selling therapeutic classes, with sales expected to reach USD 75 billion by 2025. Neurodegenerative diseases, such as Alzheimer's disease, are a significant area of focus in the therapeutics market. Awareness programs, such as Dementia Awareness, are essential in increasing public understanding of these conditions and promoting early diagnosis and treatment. Neurons and glial cells play a vital role in neurological conditions, and understanding their functions is key to developing effective therapeutics. In conclusion, the market is expected to grow significantly due to the increasing treatment rate, development of effective therapeutics, and R&D efforts in neuroscience. The market is diverse, with a focus on both common and rare neurological and neuropsychiatric conditions, and the use of various drug-delivery systems and orphan drug. The burden of disease and the importance of early diagnosis and treatment are driving the need for continued innovation in this field.
Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.49% |
Market Growth 2024-2028 |
USD 27.2 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.25 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 38% |
Key countries |
US, UK, China, Canada, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Acadia Pharmaceuticals Inc., Acorda Therapeutics Inc., Bayer AG, Biogen Inc., Eisai Co. Ltd., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, H Lundbeck AS, Johnson and Johnson Services Inc., Merck KGaA, Novartis AG, Otsuka Holdings Co. Ltd., Pfizer Inc., Sanofi SA, Takeda Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., UCB SA, USWM LLC, and Viatris Inc. |
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 the market forecast period |
Customization purview |
If our market 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 Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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