Rare Neurodegenerative Disease Treatment Market Size, Report 2022-2030

According to Vision Research Reports, the global rare neurodegenerative disease treatment market size was valued at US$ 79.61 billion in 2021 and is expected to grow at a CAGR of 5.2% from 2022 to 2030.

Global rare neurodegenerative disease treatment market size is expected to surpass around US$ 125.63 billion by 2030.

The market growth can be primarily attributed to factors such as growing prevalence of rare diseases worldwide, growing private investments, increasing support from governments, collaborations between research and medical institutes, and rising interest from the private sector. At present, research and development activities are likely to drive the global rare neurodegenerative disease treatment market.

Immediate Delivery Available | Get the sample copy of report@ https://www.visionresearchreports.com/report/sample/36742

Increase in incidence of neurological disorders is projected to drive the global rare neurodegenerative disease treatment market in the near future.

Rise in prevalence and increase in demand for newer drugs for the treatment of rare neurological disorders have led to the rise in research & development efforts followed by the introduction of innovative neurological disorder drugs.

Scope of The Report

Report Coverage	Details
Market Size in 2021	USD 79.61 billion
Revenue Forecast by 2030	USD 125.63 billion
Growth rate from 2022 to 2030	CAGR of 5.2%
Base Year	2021
Forecast Period	2022 to 2030
Segmentation	Indication, Drug Class, Distribution Channel, Region
Companies Covered	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.

 

Research Activities to Shape Future of Rare Neurodegenerative Disease Treatment

Over the past few decades, researchers, scientists, and other experts across the healthcare sector have come together to discover new therapies and medications for different rare neurodegenerative diseases. Research and development activities have shifted gears in the past decade due to which, the growth of the global rare neurodegenerative disease treatment market is projected to remain consistent in the upcoming years. In several regions, regulatory authorities, along with leading research organizations have enabled a host of research projects to move forward and thereby, offer promising advancements in the field of rare neurodegenerative disease treatment. For instance, the European Joint Programme on Rare Diseases (EJP RD) was primarily established to improve the overall efficiency and coordination among various research institutes working in tandem across the global rare neurodegenerative disease treatment market.

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 2020. The segment is expected to be driven by rise in number of patients with multiple sclerosis and increase in awareness about the disorder.

Immediate Delivery Available | Buy this Premium Research Report@ https://www.visionresearchreports.com/report/cart/36742

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 2020. Large inventory maintained by hospitals and availability of essential drugs at hospital pharmacies are likely to drive the segment.

Application of Precision Medicine in Neurodegenerative Diseases Propels Global Market

• Precision medicine is data driven, and requires integration of clinical research, experimental biology, bioinformatics, and training of competent data scientists
• MicroRNAs (miRNAs) have been extensively studied due to their implications in several disorders related to the central nervous system as well as for their potential role as biomarkers of diagnosis, prognosis, and response to treatment
• Hence, the application of precision medicine in the treatment and prevention of neurodegenerative disorders appears to be highly promising in contrast to the traditional approach

High Cost of Treatment to Hamper Global Market

• Cost of neurological disorder treatment is considerably high, owing to large quantity of antiepileptic, anticholinergic, and hypnotic & sedatives required. This is likely to hamper the global rare neurodegenerative disease treatment market.
• Researchers found that out-of-pocket costs for multiple sclerosis drugs exhibited the steepest monthly increase. People taking this medication paid an average out-of-pocket cost of US$ 15 a month in 2004, compared to an average of US$ 309 a month in 2016.

 

Growth Drivers:

• The market is growing as the prevalence of rare neurological illnesses rises.
• As the focus shifts to orphan drugs for the treatment of rare neurological diseases, chances for growth will emerge.

Key Restraints

• Expensive treatment cost of rare neurological disease is expected to hamper the market growth.

Prominent Regions

North America held a major share of the global rare neurodegenerative disease treatment market in 2020. 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 2020. 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.

Key Players

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.

Market Segmentation

By Indication

• 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
• Others

By Drug Class

• Neurotransmitter Agents
• Neuroprotective Agents
• Biologics
• Others

By Distribution Channel

• Hospital Pharmacies
• Online Pharmacies
• Retail Pharmacies

By Region

• North America
• Europe
• Asia Pacific     
• Latin America
• Middle East & Africa

Immediate Delivery Available | Buy this Premium Research Report@ https://www.visionresearchreports.com/report/cart/36742

You can place an order or ask any questions, please feel free to contact at sales@visionresearchreports.com | +1 9197 992 333

Blog: https://www.novaoneadvisor.com/

Blog: https://qyresearchmedical.com/