The neurological disorder drugs global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Neurological Disorder Drugs Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The neurological disorder drugs market size has grown strongly in recent years. It will grow from $79.67 billion in 2023 to $84.60 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increasing animal testing and obtaining promising results, an increase in therapeutic treatments, the growth of neurological problems, government initiatives, and a growth in healthcare expenditure.
The neurological disorder drugs market size is expected to see strong growth in the next few years. It will grow to $108.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to expanding therapeutic options and personalized therapies, a growing focus on disease-modifying treatments, the expanding use of digital biomarkers, and the increasing prevalence of neurological diseases. Major trends in the forecast period include advancements in drug design, advancements in neuroimaging, advancements in genetic research, collaborations and licensing agreements, and the emergence of regenerative medicine.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing prevalence of neurological diseases is expected to propel the growth of the neurological disorder drugs market going forward. Neurological disorders refer to the conditions affecting the brain, spinal cord, and nerves caused by structural, biochemical, or electrical abnormalities, leading to various symptoms. The increase in neurological diseases is attributed to the aging global population and greater exposure to environmental, metabolic, and lifestyle risk factors. Neurological disorder drugs play a critical role in managing these complex conditions, offering relief from symptoms, slowing disease progression, and improving long-term outcomes for patients. For instance, in September 2021, according to a report published by the UK Parliament, a UK-based government body, the number of people waiting to begin neurology treatment increased to 140,482 in June 2021, up from 134,245 in May 2021. Therefore, the increasing prevalence of neurological disease is driving the growth of the neurological disorder drugs market.
Market Trends –
Major companies operating in the neurological disorder drugs market are focusing on developing innovative Ocrelizumab drug therapies to enhance treatment efficacy, improve patient outcomes, and expand therapeutic options for individuals with multiple sclerosis. Ocrelizumab is a humanized monoclonal antibody used as a therapeutic drug in the treatment of multiple sclerosis (MS), a type of neurological disorder. For instance, in February 2024, Roche Holding AG, a Switzerland-based pharmaceutical company, launched Ocrevus (Ocrelizumab), a new disease-modifying therapy (DMT) drug for the treatment of multiple sclerosis in India. Ocrevus is the first and only approved DMT for both relapsing-remitting multiple sclerosis (RRMS) and primary progressive multiple sclerosis (PPMS), based on over 10 years of clinical and real-world data. It is a monoclonal antibody that targets CD20-positive B cells, which are believed to play a role in the autoimmune attack on the central nervous system in multiple sclerosis (MS). Ocrevus is used to treat both relapsing-remitting MS (RRMS) and primary progressive MS (PPMS), making it the first drug approved for both forms of the disease. It is administered intravenously, typically every six months, and has shown efficacy in reducing disease activity and disability progression in clinical trials.
The neurological disorder drugs market covered in this report is segmented –
1) By Drug Class: Cholinesterase Inhibitors, N-Methyl-D-Aspartate (NMDA) Receptor Antagonists, Antiepileptic, Antipsychotic And Antidepressant, Other Drugs Classes
2) By Indication: Epilepsy, Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, Cerebrovascular Disease, Other Indications
3) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Other Distribution Channels
5) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End Users
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Regional Insights –
North America was the largest region in the neurological disorder drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurological disorder drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the neurological disorder drugs market are F. Hoffmann-La Roche Ltd, Bayer AG, Sanofi S.A, AstraZeneca PLC, Abbott Laboratories, Novartis AG, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company Pvt Ltd, Amgen Inc, Boehringer Ingelheim GmbH, Novo Nordisk A/S, Merck KGaA, Teva Pharmaceutical Industries Ltd, Otsuka America Pharmaceutical Inc, Biogen Inc, Bausch Health Companies Inc, Alexion Pharmaceuticals Inc., UCB S.A., Eisai Co Ltd, Cipla Inc, BioMarin Pharmaceutical Inc., Biocon Ltd, Acorda Therapeutics Inc.
Table of Contents
1. Executive Summary
2. Neurological Disorder Drugs Market Report Structure
3. Neurological Disorder Drugs Market Trends And Strategies
4. Neurological Disorder Drugs Market – Macro Economic Scenario
5. Neurological Disorder Drugs Market Size And Growth
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27. Neurological Disorder Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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