Latest Research Study Neurodegenerative Disease
The Neurodegenerative Disease Market is expected to grow at a CAGR of 7.45% during the forecast period 2024-2031
A Neurodegenerative Disease refers to a group of disorders that involve the progressive degeneration of the structure and function of the nervous system, particularly the brain and spinal cord. These diseases occur when nerve cells (neurons) begin to deteriorate or die over time, leading to impairments in movement, memory, and cognitive abilities. The exact cause of these diseases is often unknown, but genetics, environmental factors, and protein misfolding are believed to play significant roles.
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Market Growth Drivers:
The rising prevalence of neurodegenerative diseases is expected to drive market growth.
The growing geriatric population is contributing significantly to the rise in neurodegenerative diseases like Alzheimer’s, Parkinson’s, and delirium, driving the market forward. As individuals age, the risk of developing these conditions increases. For example, delirium affects 14-56% of hospitalized elderly patients, with over 12.5 million individuals aged 65 and older experiencing it annually, according to the NIH.
Additionally, the United Nations’ Department of Economic and Social Affairs data reveals that the global population aged 65 and over was 272 million in 2020 and is expected to grow to 1.5 billion by 2050, with the geriatric population increasing from 9.3% to 16%.
Furthermore, 1 in 10 people aged 45 and above experience Subjective Cognitive Decline, which affects the daily activities of 41% of the global elderly population, as reported by the WHO. Also, nearly 55 million seniors globally are living with dementia, with 10 million new cases each year.
According to Alzheimer’s Disease International, 55 million people were living with dementia worldwide in 2020, and this number is expected to rise to 78 million by 2030 and 139 million by 2050. The annual global cost of dementia is already over US$ 1.3 trillion and is predicted to increase to US$ 2.8 trillion by 2030, underscoring the growing need for effective neurodegenerative disease management and treatment options.
Strict regulatory guidelines and the expiration of treatment patents are expected to hinder the growth of the global neurodegenerative disease market.
However, strict regulatory guidelines for drug development and the expiration of neurodegenerative disease treatment patents are key factors expected to hinder the growth of the global neurodegenerative disease market.
Industry analysis.
The global neurodegenerative disease market report will provide an in-depth analysis of the market based on various industry factors such as Porter`s five forces, innovations, new product launches, pricing analysis, and pipeline analysis.
Market Segments:
- By Indication Type: Parkinson’s Disease, Amyotrophic Lateral Sclerosis, Alzheimer’s Disease, Huntington Disease, Others
- By Drug Type: N-methyl-D-aspartate Receptor, Selective Serotonin Reuptake Inhibitor, Dopamine Inhibitors, Others
- By End User: Hospitals and Clinics, Other
- By Region: North America, Latin America, Europe, Asia Pacific, Middle East and Africa
Top Key Players:
- Novartis
- AbbVie Inc.
- Amneal Pharmaceuticals Inc.
- Boehringer Ingelheim International GmbH
- F Hoffmann-La Roche Ltd.
- GlaxoSmithKline PLC
- Merck & Co Inc.
- Pfizer Inc.
- Teva Pharmaceutical
- UCB SA
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Regional Growth
The North American region holds the largest market share of the global neurodegenerative disease market.
North America leads the global neurodegenerative disease market, holding the largest market share in 2021, primarily due to the rising prevalence of Alzheimer’s disease in the region. According to the Alzheimer’s Association, by 2022, 6.5 million Americans aged 65 and older are living with Alzheimer’s, with this number expected to nearly double to 12.7 million by 2050. Many patients, however, remain undiagnosed. Alzheimer’s was also the seventh-leading cause of death in the U.S. in 2020 and 2021.
As the U.S. population continues to age, the number of people living with neurodegenerative diseases is on the rise. The Parkinson’s Foundation estimates that 60,000 Americans are diagnosed with Parkinson’s disease (PD) each year. Additionally, by the end of 2022, the combined cost of Alzheimer’s and other dementias in the U.S. was projected at $321 billion, and by 2050, it could soar to nearly $1 trillion, highlighting the growing economic impact of these conditions.
