The global Neurodegenerative Disease Therapeutics Industry was valued at USD 8.33 billion in 2021 and is anticipated to increase at a significant CAGR of 15.6% from 2022 to 2030.
Grand View Research’s neurodegenerative disease therapeutics industry data book is a collection of market sizing & forecasts insights, regulatory & technology framework, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research.
Parkinson’s Disease Treatment Market Insights
The global Parkinson’s disease treatment market size was valued at USD 4.29 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.7% from 2022 to 2030. The increasing geriatric population, which is exposed to a high risk of developing Parkinson’s Disease (PD), the high burden of PD in western countries, and the strong product pipeline of disease-modifying therapies are anticipated to be major drivers for the industry. According to the International Parkinson and Movement Disorder Society, in 2020, around 9.4 million individuals had PD worldwide. Moreover, PD affects around 1% of the total population over the age of 60 years, which rises to 5% for the population over the age of 85 years.
Moreover, according to a UN report, there were about 727 million people aged 65 years & above globally in 2020. In addition, the number of individuals aged 80 years and above is projected to double by 2050, reaching more than 1.5 billion globally. Hence, the rise in the prevalence of PD has paved the way for key pharmaceutical players to undertake extensive market growth in this sector. The availability of different dosage forms can enable product differentiation for pharmaceutical companies, resulting in greater profits. NeuroDerm is developing ND0612 for the treatment of patients with moderate-to-severe PD, for whom oral medications are no longer effective.
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Alzheimer’s Therapeutics Market Insights
The global alzheimer’s therapeutics market size was valued at USD 4.04 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 18.3% from 2022 to 2030. The rising prevalence of Alzheimer’s Disease (AD) and approval of disease-modifying therapies are expected to fuel market growth. According to the NCBI, in 2021, about 6.2 million people aged 65 and above living in America were suffering from Alzheimer’s disease, which is estimated to increase to around 13.8 million by 2060. Women are more prone to be diagnosed with Alzheimer’s disease than men due to the longer life expectancy of women. Moreover, Alzheimer’s disease is becoming the most common cause of death in neurodegenerative diseases and a common cause of physical disability that require immediate treatment.
The impact of the COVID-19 pandemic on the market was negative due to strict measures undertaken by the government such as lockdown to control infection spread. During the pandemic, the prescription rate for drugs used to treat Alzheimer’s was lowered due to a decline in patient visits to clinics and hospitals for treatment and fear of COVID infection, thereby restraining market growth.
The introduction of new highly sensitive cloud-based cognitive assessment systems will assist pharmaceutical companies in identifying the effects of drugs on patients. This will enable pharmaceutical companies to effectively evaluate the cognitive efficacy and safety of pipeline drugs. For instance, Cambridge Cognition’s Cantab Connect product has been specifically developed to measure the effectiveness of drugs for mild, moderate, and prodromal AD. The adoption of such technology is expected to enhance the chances of product approvals, consequently driving the Alzheimer's disease treatment market.
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Neurodegenerative Disease Therapeutics Industry Data Book Competitive Landscape
Competitive rivalry in this market is likely to be high due to increasing number of mergers, acquisitions, and partnerships undertaken by major players globally. Many established and clinical-stage pharmaceutical companies are involved in the development of novel therapies & drugs to target people with unmet clinical needs. Furthermore, the companies are focusing on the development of strategic alliances and research collaborations with competitors.
Key players operating in the Neurodegenerative Disease Therapeutics Industry are:
- Cerevel Therapeutics
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Merck & Co., Inc.
- GlaxoSmithKline plc. (GSK)
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