- Increase in number of patients suffering from disorders, such as multiple sclerosis, Parkinson’s disease, cerebrovascular diseases, Alzheimer’s disease, and epilepsy is bolstering the market
ALBANY, N.Y., April 25, 2022 (GLOBE NEWSWIRE) -- The global neurological disorder drugs market is estimated to register growth at a CAGR of 5.4% during the forecast period from 2019 to 2027, says assessment by Transparency Market Research (TMR).
Major enterprises operating in the pharmaceutical industry are using strategies of partnerships with academic institutes and small biotech companies in order to develop innovative CNS drugs. Moreover, several players are boosting their R&D efforts in neuroscience. Such efforts are projected to play an important role in the growth of the neurological disorder drugs market, which is anticipated to be valued over US$ 112 Bn by 2027.
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The neurological disorder drugs market in North America is anticipated to maintain its leading position during the forecast period, owing to a surge in understanding about latest drugs intended for neurological disorders treatment and existence of key companies in the region.
Neurological Disorder Drugs Market: Key Findings
- Techniques used for drug development intended for disorders pertaining to the central nervous system (CNS) are generally reliant on conventional approaches related to rodent prototypes or cell-based in vitro prototypes. As differences between rodents and humans are complex for the correlation of huge data gathered in neurodevelopmental researches, these techniques are creating challenges for companies engaged in the drug development. Moreover, latest tools are known for showing maximum similarity to the human brain functions and architecture. As a result, several enterprises are focusing on advancements in the field of 3D CNS organoids and stem cells. This factor is boosting the growth avenues in the global neurological disorder drugs market.
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- CNS organoids offer significant avenues in the healthcare industry, as they help in imitating the physiology of a human brain. They work as an exceptional modeling tool for the study of standard versus pathological brain. CNS organoids are being gaining popularity, as they can help in understanding mechanisms of neurological health conditions. This factor suggests that the global neurological disorder drugs market is expected to gain profitable opportunities during the forecast period.
- Players operating in the neurological disorder drugs market are incorporating innovative therapeutic approaches in the treatment of the Parkinson’s disease. Moreover, several enterprises are investing in R&Ds in order to comprehend genetic risk factors linked to the disease and develop advanced treatment solutions. As a result, making changes to the GBA1 gene is working as one of the key approaches in the drug development activities. As alterations in the gene can cause changes of GCase (glucocerebrosidase) enzymes, players in the neurological disorder drugs market are concentrating on activation of wild type GCase in order to develop latest drug compounds in the Parkinson’s disease treatments.
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Neurological Disorder Drugs Market: Growth Boosters
- Rise in focus of regulatory authorities on addressing the need for effective drug development is expected to support the growth of the global neurological disorder drugs market
- Surge in the prevalence of Alzheimer’s disease, epilepsy, multiple sclerosis, Parkinson’s disease, and cerebrovascular diseases is propelling the global neurological disorder drugs market
- Increase in geriatric population, which is at higher risk of developing neurological disorders, is boosting the sales prospects in the global market for neurological disorder drugs
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Neurological Disorder Drugs Market: Key Players
Some of the key players profiled in the report are:
- GlaxoSmithKline plc
- Novartis AG
- Pfizer
- F. Hoffmann-La Roche Ltd.
- Boehringer Ingelheim GmbH
- Bayer AG
- Teva Pharmaceutical Industries
- AstraZeneca
- Otsuka Pharmaceutical Co., Ltd.
- Merck & Co., Inc.
- UCB S.A.
- Amgen, Inc.
- Biogen
- Eli Lilly and Company
Neurological Disorder Drugs Market Segmentation
Disorder
- Epilepsy
- Alzheimer’s Disease
- Parkinson’s Disease
- Multiple Sclerosis
- Cerebrovascular Diseases
- Others
Drug Class
- Anticholinergic
- Antiepileptic
- Antipsychotic
- Hypnotic & Sedatives
- Analgesics
- Antihypertensive
- Anticoagulants
- Others
Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Neurological Biomarkers Market: The global neurological biomarkers market is expected to witness a rapid growth with the prevailing neurological disorder cases all over the world. A major percentage of world population is affected by neurological disorders, this in turn is causing major disabilities globally.
Neurological Disorder Diagnostic Market: The neurological disorder diagnostic devices are utilized to diagnosis of several neurological disorder like Multiple Sclerosis, Alzheimer’s disease (AD) and Parkinson’s disease (PD). Also, rising prevalence of neurological disorder in recent past likely to boost growth of the global neurological disorder diagnostic market.
Rare Neurological Disease Treatment Market: Rare neurological diseases are vastly underdiagnosed and most of them go untreated. Additionally, until recently there has been no specific treatments for such disorders. However, the landscape of the market is changing slowly. It is expected that the global rare neurological disease treatment market will have a great potential in the coming years of the forecast period ranging from 2020 to 2030.
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