Neurodegenerative Disease Therapeutics Market

The global neurodegenerative disease markets combine to account for USD 8.33 billion revenue in 2021

Neurodegenerative Disease Therapeutics Industry | Forecast 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.The following data points will be included in the final product offering in two reports and one sector report overview.

The global neurodegenerative disease markets combine to account for USD 8.33 billion revenue in 2021, which is expected to reach USD 28.15 billion by 2030, growing at a cumulative rate of 15.6% over the forecast period. The combination bundle is designed to provide a holistic view of these highly dynamic market spaces.

Access the Global Neurodegenerative Disease Therapeutics Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Parkinson’s Disease Treatment Market Insights

The global Parkinson’s disease treatment market size was valued at USD 4.28 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.1% 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.

In addition, LY03003 (Rotigotine ER Microsphere) and P2B001 (extended-release (ER) formulations of pramipexole and rasagiline) are currently being developed by Luye Pharma Group and Pharma Two B respectively. Chronic PD requires treatment for a long duration, along with critical care. Treatments of such illnesses require high expenditure. The treatment cost for PD varies depending on the region. According to a research study, the direct annual medical cost per PD patient is estimated to be around USD 10,043 to USD 12,491 in the U.S.; out of this, prescription drugs accounted for around 14-22%. Owing to favorable healthcare policies and reimbursement scenarios in developed countries such as the U.S., the overall cost burden on an individual patient is reduced.

Order your copy of the Free Sample of “Neurodegenerative Disease Therapeutics Industry Data Book – Parkinson’s Disease Treatment and Alzheimer’s Therapeutics Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Alzheimer’s Therapeutics Market Insights

The global alzheimer’s therapeutics market size was valued at USD 4.05 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 19.99% from 2023 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.