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With 7.2% CAGR, Neurodegenerative Diseases Drugs Market Size to Surpass Around USD 62,786.2 Million by 2028

According to Fortune Business Insights, Neurodegenerative Diseases Drugs Market to Reach USD 62,786.2 Million by 2028, at CAGR of 7.2% during forecast period; Rising Cases of Multiple Sclerosis to Boost Growth

/EIN News/ -- Pune, India, June 29, 2022 (GLOBE NEWSWIRE) -- The global neurodegenerative diseases drugs market is likely to gain traction from the rising incidence of neurodegenerative diseases worldwide. Such diseases pose a greater burden on the physical and mental health of the populaces, as well as on the healthcare cost. This information is given by Fortune Business Insights™ in a published report, titled. The report further states that the market stood at USD 35,497.3 million in 2018 and is projected to reach USD 62,786.2 million by 2028, thereby exhibiting a CAGR of 7.2% in the forecast period.

Key Industry Development:

  • March 2019: Novartis announced that it received the FDA approval for Mayzent® (siponimod). It is considered to be the first treatment option approved for those suffering from secondary progressive multiple sclerosis (SPMS). It is meant for patients belonging to the age group of 15 years and above.
  • January 2018: Biogen Japan Ltd. and Eisai Co., Ltd. started co-promoting AVONEX®, TYSABRI®, and TECFIDERA®. They are manufactured by Biogen Japan for treating multiple sclerosis. They will provide information regarding the usage of these drugs at healthcare facilities.

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Report Scope

Report Coverage Details
Forecast Period 2018 to 2028
Forecast Period 2022 to 2029 CAGR 7.2%
2028 Value Projection USD 62,786.2 Million
Base Year 2018
Market Size in 2018 USD 35,497.3 Million
Historical Data for 2015 to 2017
No. of Pages 166

Drivers & Restraints-

Rising Prevalence of Alzheimer’s Disease to Aid Growth

Neurodegenerative diseases refer to all those diseases that severely affect the neurons of the brain. One of the most prevalent neurodegenerative diseases is Alzheimer’s. In the U.S. alone, in 2019, approximately 5.8 million cases of Alzheimer's dementia were recorded. Others include multiple system atrophy, spinal muscular atrophy, Huntington's disease, amyotrophic lateral sclerosis, multiple sclerosis, and Parkinson’s disease. Besides, numerous companies are investing hefty amounts of money in research and development activities, which, in turn, is augmenting the clinical research on neurodegenerative diseases and their possible cure. These factors are expected to propel the neurodegenerative diseases drugs market US in the near future.

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COVID-19 Impact:

The COVID-19 impact on the market was significant as the pandemic impacted the workflows of clinical trials, research and development activities, and pipeline products, leading to relatively slow growth during the pandemic despite the presence of a robust late-stage product pipeline. For instance, in April 2020, Biogen delayed Alzheimer’s drug filing to the Food and Drug Administration due to the complexity of data analysis and the impact of COVID-19 on its research and development studies. However, in January 2021, Biogen and Eisai Co. Ltd reported that the United States Food and Drug Administration had extended the review period by three months for the Biologics License Application for aducanumab, an investigational treatment for Alzheimer’s disease. Thus, owing to the aforementioned factors, the studied market witnessed a short-term decline in growth during the COVID-19 pandemic.

Regional Analysis-

North America to Lead Owing to Rising Investment in R&D Activities

North America generated USD 18,174.6 million revenue in 2018 and is likely to lead the market in the coming years. This growth is attributable to the positive health reimbursement policies, rising investment in research and development, high pricing, and increasing demand for neurodegenerative diseases drugs. Europe, on the other hand, is set to showcase considerable growth in the near future on account of the FDA approval for marketing and distributing SPINRAZA, as well as active support of the government. In Asia Pacific, the market would grow steadily and thus, the region is set to showcase the highest CAGR. It would occur because the increasing prevalence of diseases such as Parkinson’s and Alzheimer’s. Apart from that, the rising geriatric population and higher incidence of neurodegenerative diseases would drive growth of the market in this region.

Key Market Trends

The Alzheimer's Disease Segment is Expected to Witness Significant Growth Over the Forecast Period

Alzheimer's disease (AD) is a progressive disorder that causes brain cells to waste away (degenerate) and die. Alzheimer's disease is the most common cause of dementia, which is a continuous decline in thinking, behavioral, and social skills that disrupts a person's ability to function independently. The prevalence and mortality due to the disease are increasing globally. For instance, according to the 2021 Alzheimer’s Disease Facts and Figures report released by the Alzheimer's Association, it was estimated that in the United States, around 6.2 million people of age 65 and older were living with Alzheimer's dementia in 2021.

One in nine people aged 65 and older has Alzheimer's dementia, and about two-thirds of Americans with Alzheimer's are women. The high incidence of Alzheimer's disease is expected to have a positive impact on the studied segment growth. Additionally, the growing research and development activities and new product launches also aid in the growth of the segment. For instance, in January 2021, Eli Lilly and Company revealed the results of a study of Donanemab, an investigational antibody that targets a modified form of beta-amyloid called N3pG, which showed a significant slowing of decline in a composite measure of cognition and daily function in patients with early symptomatic Alzheimer's disease compared to placebo in results from its Phase 2 TRAILBLAZER-ALZ study. Thus, owing to the aforementioned factors, the Alzheimer's disease segment is expected to witness significant growth in the coming years.

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Market Segmentation:

Multiple Sclerosis Segment to Dominate Backed by Rising Number of New Product Launches

In terms of disease indication, the market is divided into spinal muscular atrophy (SMA), Alzheimer's disease, Parkinson’s disease, multiple sclerosis, and others. Out of these, the multiple sclerosis segment held 66.1% neurodegenerative diseases drugs market US share in 2018 and is set to dominate throughout the forthcoming years. This growth is attributable to the increasing number of novel product launches, favourable government recommendations, and expensive nature of drugs.

Segmentation By Drug Class
  • Immunomodulator 
  • Interferons
  • Decarboxylase Inhibitors
  • Dopamine Agonists
  • Others
By Disease Indication
  • Multiple Sclerosis
  • Parkinson’s Disease
  • Alzheimer's Disease
  • Spinal Muscular Atrophy (SMA)
  • Others
By Geography
  • North America (USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Competitive Landscape-

Key Players Focus on Strategic Partnerships to Launch New Drugs

Several companies present in the Neurodegenerative Diseases Drugs market are actively participating in extensive research and development activities to introduce unique products. The governments of numerous countries are also providing grants to the research institutes to discover new products to cater to the growing demand from the consumers. Additionally, many other companies are adopting the strategy of collaborations and partnerships to co-promote or co-develop new drugs. Below are two of the key industry developments:

Fortune Business Insights™ presents a list of all the neurodegenerative diseases drugs manufacturers operating in the market. They are as follows:

  • Novartis AG
  • Biogen
  • Lundbeck A/S
  • Pfizer, Inc.
  • Mitsubishi Tanabe Pharma Corporation
  • Hoffmann-La Roche Ltd.
  • Orion Pharma
  • Merck & Co., Inc.
  • UCB S.A.
  • Teva Pharmaceutical Industries Ltd.
  • Sanofi
  • ACADIA Pharmaceuticals Inc.
  • Other key market players

Have Any Query? Ask Our Experts:

This Report Answers the Following Questions:

  • Which strategies are being implemented by companies to boost sales of neurodegenerative diseases drugs?
  • What are the market drivers, trends, challenges, and opportunities?
  • Which segment is anticipated to dominate the market in terms of share?
  • Which region would lead by generating the highest revenue in the near future?

Some major points from Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Neurodegenerative Diseases Drugs Market US Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities 
    • Market Trends
  • Key Insights
    • Prevalence of Neurodegenerative Diseases - For Key Countries, 2018
    • Regulatory Scenario - For Key Countries
    • Patent Snapshot
    • New Product Launch
    • Pipeline Analysis
    • Key Industry Developments -Mergers, Acquisitions and Partnerships
  • Global Neurodegenerative Diseases Drugs Market Analysis, Insights and Forecast,2015-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Drug Class
      • Immunomodulatory
      • Interferons 
      • Decarboxylase Inhibitors
      • Dopamine Agonists
      • Others
    • Market Analysis, Insights and Forecast – By Disease Indication
      • Multiple Sclerosis
      • Parkinson’s Disease
      • Alzheimer's Disease
      • Spinal Muscular Atrophy (SMA)
      • Others
    • Market Analysis, Insights and Forecast – By Route of Administration
      • Oral
      • Injection
      • Transdermal
    • Market Analysis, Insights and Forecast – By Distribution Channel
      • Hospital Pharmacy
      • Retail Pharmacy
      • Online Pharmacy
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific 
      • Latin America
      • Middle East & Africa
  • North America Neurodegenerative Diseases Drugs Market Analysis, Insights and Forecast,2015-2028
    • Key Findings / Summary
    • Market Analysis – By Drug Class
      • Immunomodulatory
      • Interferons 
      • Decarboxylase Inhibitors
      • Dopamine Agonists
      • Others
    • Market Analysis, Insights and Forecast – By Disease Indication
      • Multiple Sclerosis
      • Parkinson’s Disease
      • Alzheimer's Disease
      • Spinal Muscular Atrophy (SMA)
      • Others
    • Market Analysis – By Route of Administration
      • Oral
      • Injection
      • Transdermal
    • Market Analysis – By Distribution Channel
      • Hospital Pharmacy
      • Retail Pharmacy
      • Online Pharmacy
    • Market Analysis – By Country
      • U.S.
      • Canada


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