Neurodegenerative disease Market Size was valued at USD 54.8 Billion in 2022. The neurodegenerative disease market industry is projected to grow from USD 58.9 Billion in 2023 to USD 105.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.60% during the forecast period (2024 - 2032). Increasing understanding of genetic factors contributing to neurodegenerative diseases allows for targeted therapies and personalized medicine are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Increased government funding is driving the market growth
Market CAGR for the combat in opposition to neurodegenerative diseases has received a widespread improve with improved government investment. Governments worldwide understand the urgent want to cope with those complex issues, allocating sizable sources to investigate and improvement. For instance, the National Institutes of Health (NIH) in the United States has always improved its finances for neurodegenerative ailment research. In 2022, the NIH invested over $2 billion in various applications centered on know-how the reasons and developing revolutionary remedies for conditions like Alzheimer's and Parkinson's, emphasizing the important function of public price range in using development.
The rise of virtual fitness is revolutionizing how neurodegenerative diseases are identified, monitored, and handled. Organizations like the World Health Organization (WHO) have emphasized the importance of integrating digital technology into healthcare systems ly. Digital fitness equipment, along with wearables, far flung tracking gadgets, and telemedicine systems, offer real-time data which could considerably beautify disease control. The WHO's Strategy on Digital Health 2020-2025 highlights the capability of digital solutions in enhancing get admission to to exceptional care, in particular for continual conditions like neurodegenerative sicknesses.
Public focus and advocacy play a pivotal position in shaping the narrative round neurodegenerative illnesses and using societal guide. Organizations like the Alzheimer's Association and the Michael J. Fox Foundation were instrumental in raising cognizance, funding research, and advocating for regulations that prioritize neurodegenerative disorder studies and affected person care. The impact of such initiatives is clear inside the accelerated public and personal investments on this subject, with more people and organizations joining the combat towards those debilitating conditions. Public help is a riding pressure in the back of the momentum to discover effective remedies and ultimately a cure for neurodegenerative illnesses. Thus, driving the Neurodegenerative disease market revenue.
The neurodegenerative disease market segmentation, based on Drug class includes NMDA, SSRIs, and Dopamine Inhibitors. The SSRIs segment dominated the market in 2022. Increased funding and support from government agencies stimulate research and development efforts.
The Neurodegenerative disease market segmentation, based on Disease Indication, includes Parkinson’s disease, Alzheimer’s disease, Amyotrophic Lateral Sclerosis, Huntington disease. The Amyotrophic Lateral Sclerosis segment dominated the market in 2022. Growing awareness and advocacy efforts drive increased funding, research, and support for individuals affected by neurodegenerative diseases.
Figure 1: Neurodegenerative disease Market, by Disease Indication, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The growth of the neurodegenerative disease market is the aging population. As people live longer, they are more likely to develop these diseases. It is increasing demand for neurodegenerative disease Disease Indications in North America.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: NEURODEGENERATIVE DISEASE MARKET SHARE BY REGION 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America Neurodegenerative disease market accounts for the second-largest market share due to the increased government funding, and improved diagnostics. Further, the German Neurodegenerative disease market held the largest market share, and the UK Neurodegenerative disease market was the fastest growing market in the European region
The Asia-Pacific Neurodegenerative disease Market is expected to grow at the fastest CAGR from 2023 to 2032. There is growing awareness of neurodegenerative diseases, which is leading to increased diagnosis and treatment rates. Digital health technologies are being used to develop new diagnostic tools, treatment options, and support services for people with neurodegenerative diseases. Moreover, India Neurodegenerative disease market held the largest market share, and the Indian Neurodegenerative disease market was the fastest growing market in the Asia-Pacific region.
Neurodegenerative disease Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their therapy, which will help the Neurodegenerative disease market, grow even more. The neurodegenerative disease market is also facing increased competition from other therapy services, including NMDA and SSRIs. These Disease Indications are gaining popularity among consumers are perceived to be less harmful than neurodegenerative disease Indications. The competition to develop more environmentally friendly and sustainable therapy because the cultivation of product can have negative effects, such as deforestation and degradation, with important market developments including public Awareness, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Neurodegenerative disease industry must offer cost-effective Disease Indication.
Creating novel and cutting-edge Disease Indications, such as NMDA neurodegenerative disease Disease Indications and disease made with neurodegenerative diseases in the neurodegenerative disease industry to benefit clients and increase the market sector. In recent years, the neurodegenerative disease industry has NMDA Investing in brand building activities to create a strong brand presence in the market. Major players in the neurodegenerative disease market, including Novartis, Pfizer, Merck Serono, Biogen Idec, TEVA Pharmaceuticals Industries, UCB, Boehringer Ingelheim, Sanofi S.A., GlaxoSmithKline, and others, are attempting to increase market demand by investing in research and development operations.
Novartis, a healthcare company headquartered in Switzerland, stands as one of the leading players in the pharmaceutical and life sciences industry. With a rich history dating back to the 18th century, Novartis has evolved into a diversified healthcare powerhouse. The company focuses on discovering, developing, manufacturing, and marketing a wide range of innovative healthcare products, including prescription drugs, generics, biosimilars, and eye care devices. Novartis operates in multiple therapeutic areas, such as oncology, cardiovascular diseases, neuroscience, and immunology. Known for its commitment to research and development, Novartis consistently invests in cutting-edge technologies and collaborations to bring transformative healthcare solutions to patients worldwide.
Pfizer, a biopharmaceutical giant headquartered in the United States, is renowned for its significant contributions to the healthcare industry. Founded in 1849, Pfizer has grown into a leading research-based pharmaceutical company with a broad portfolio of prescription medicines, vaccines, and consumer healthcare products. The company operates across various therapeutic areas, including oncology, immunology, cardiology, and infectious diseases. Pfizer has played a pivotal role in developing groundbreaking drugs and vaccines that have had a profound impact on health. With a commitment to innovation and a focus on addressing unmet medical needs, Pfizer continues to be a key player in advancing healthcare solutions for people around the world.
Key Companies in the neurodegenerative disease market include
Neurodegenerative disease Industry Developments
In July 2021: UCB announced a collaborative worldwide license agreement with Roche and Genentech to develop and commercialize UCB0107 in Alzheimer's Diseases.
In June 2021: Biogen and Eisai Co. Ltd announced the receiving of accelerated approval for their Alzheimer's disease treatment drug, ADUHELM, from the US Food and Drug Administration.
In January 2020: Novartis announced the acquisition of Cadent Therapeutics to expand its neuroscience p Merck announced receiving approval from the United States Food and Drug Administration for Belsomra to treat insomnia in patients with mild-to-moderate Alzheimer's disease. Portfolio in schizophrenia and other movement disorders.
Neurodegenerative disease Report Scope
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 54.8 Billion |
| Market Size 2023 | USD 58.9 Billion |
| Market Size 2032 | USD 105.93 Billion |
| Compound Annual Growth Rate (CAGR) | 7.60% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Drug class, Disease Indication, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Novartis, Pfizer, Merck Serono, Biogen Idec, TEVA Pharmaceuticals Industries, UCB, Boehringer Ingelheim, Sanofi S.A., GlaxoSmithKline |
| Key Market Opportunities | ·        Increase in government funding |
| Key Market Dynamics | ·        Growing awareness of neurodegenerative diseases, which is leading to increased diagnosis and treatment rates. |
Frequently Asked Questions (FAQ) :
The Neurodegenerative disease market size was valued at USD 54.8 Billion in 2022.
The market is projected to grow at a CAGR of 7.60% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are Novartis, Pfizer, Merck Serono, Biogen Idec, TEVA Pharmaceuticals Industries, UCB, Boehringer Ingelheim, Sanofi S.A., GlaxoSmithKline
The SSRIs category dominated the market in 2022.
The Amyotrophic Lateral Sclerosis based had the largest share in the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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