Rare Neurodegenerative Disease Treatment Market: Rise in Research & Development Programs to Drive Global Market
Rare Neurodegenerative Disease Treatment Market: Introduction
According to the report, the global rare neurodegenerative disease treatment market was valued at US$ 67 Bn in 2019 and is projected to expand at a CAGR of ~5% from 2020 to 2030. Various types of neurological disorders are epilepsy, Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, cerebrovascular diseases, and others. The different types of drug class to treat neurology disorders are anticholinergic, antiepileptic, antipsychotic, hypnotic & sedative, analgesics, antihypertensive, anticoagulants, and others. In terms of indication, the global rare neurodegenerative disease treatment market has been classified into multiple sclerosis (MS), Alzheimer’s disease, Parkinson's disease, acute migraine, autism, narcolepsy, amyotrophic lateral sclerosis (ALS), attention deficit hyperactivity disorder (ADHD), spinal muscular atrophy, Tourette syndrome, Huntington's disease, and others. The multiple sclerosis (MS) segment captured the largest market share in 2019. The segment is expected to be driven by rise in number of patients with multiple sclerosis and increase in awareness about the disorder.
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Based on drug class, the global rare neurodegenerative disease treatment market has been categorized into neurotransmitter agents, neuroprotective agents, biologics, and others. The neuroprotective agents segment held major share of the global market in 2019. In terms of distribution channel, the global rare neurodegenerative disease treatment market has been divided into hospital pharmacies, online pharmacies, and retail pharmacies. The hospital pharmacies segment accounted for the leading share of the market in 2019. Large inventory maintained by hospitals and availability of essential drugs at hospital pharmacies are likely to drive the segment.
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Rare Neurodegenerative Disease Treatment Market: Prominent Regions
North America held a major share of the global rare neurodegenerative disease treatment market in 2019. Recent product approvals & launch of new drugs and presence of prominent pharmaceutical companies offering therapeutic products for the treatment of rare neurological disorders are key factors driving the market in the region. Increase in healthcare expenditure also contributes to the growth of the market in North America. Europe held the second largest share of the global rare neurodegenerative disease treatment market in 2019. The growth of the rare neurodegenerative disease treatment market in the region can be attributed to the rise in the number of patients with rare neurological conditions and increase in R&D expenditure.
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Rare Neurodegenerative Disease Treatment Market: Key Players
Leading players are expanding their footprint to strengthen their positions in the global rare neurodegenerative disease treatment market. Promising drug candidates in pipeline and increase in research & development efforts by big pharmaceutical companies are likely to present lucrative opportunities in the global rare neurodegenerative disease treatment market. Hence, manufacturers engage in new product development, collaborations, and distribution to gain market share. Key players operating in the global rare neurodegenerative disease treatment market include Allergan plc, Bayer AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Merck KGaA, Novartis AG, Pfizer, Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.
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