Neurodegenerative disease or neurodegeneration refers to the progressive damage or wear and tear of the nerve cells. Neurodegenerative disease causes loss of abilities like decision making and eventually memory loss. Neurodegeneration is a broader term which comprises of different disease namely Parkinson’s disease, Huntington disease, Amyotrophic Lateral Sclerosis and Alzheimer’s disease. These are the most commonly occurring diseases under the condition “Neurodegeneration”. Neurodegeneration can be caused due to genetic factor but the proportion is minimal. Major cause of neurodegeneration could be deposition of toxic protein substance in the brain or loss of functionality/improper functioning of mitochondria present in brain. Patients generally show mixture of symptoms for one or more neurodegenerative disease. Currently there is no cure for this condition however specific drugs are present in the market to minimize the symptoms (for example: donepezil and memantine for Alzheimer’s disease, L-dopa for Parkinson’s, riluzole for ALS).
Neurodegenerative Disease Market: Drivers & Restraints
Neurodegenerative market is expected to dwell due to continuous advancement in medical technology both for the diagnosis and the treatment of neurological disorders have raised the demand of neurodegenerative drugs. Ageing population is increasing which in turn is leading to increase in the incidence of neurological disorders are some major factors driving the growth of neurodegenerative market. Growing awareness amongst the physicians is helping the market to dwell in developed countries. Developing countries especially Asia Pacific countries, where due to large population the market growth is expected to be significant in the upcoming years. Lack of complete curative treatment measures primarily because of the manifold nature of the disease could possibly hamper the market of neurodegenerative disease market at the global level.
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Neurodegenerative Market: Segmentation
Neurodegenerative market is classified on the basis of Drug class, indications and geography.
Based on Drug class, the global Neurodegenerative disease market is segmented into the following:
- Dopamine Inhibitors
Based on Indications, the global Neurodegenerative disease market is segmented into the following:
- Parkinson’s disease
- Huntington disease
- Amyotrophic Lateral Sclerosis
- Alzheimer’s disease
Neurodegenerative Disease Market: Overview
Neurodegenerative disease market is expected to grow at a significant pace mainly due to increasing cases of neurological disorders. The market is expected to witness advancement in the upcoming years due to launch of new type of drugs. In the Alzheimer’s market, drugs like GABA receptor modulators, anti-amyloid protein agents and nicotinic and cholinergic receptor agonists are expected to influence the market growth however in the Parkinson’s disease market will be driven due to launch of drugs like dopamine receptor agonists and reuptake inhibitors, glutamate receptor modulators, and adrenergic and adenosine antagonists. New players are expected to enter the market in the forecast years due to patent protection loss for major players.
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Neurodegenerative Market: Region-wise Outlook
Depending on geographic regions, global neurodegenerative disease market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. Global market for neurodegenerative disease is expected to grow by a CAGR of around 5%. Asia Pacific is expected to witness the highest growth due to large population base over the forecast years.
Neurodegenerative Market: Key Players
Some of the key market players in global Neurodegenerative market are Novartis, Pfizer, Merck Serono, Biogen Idec, TEVA Pharmaceuticals Industries, UCB, Boehringer Ingelheim, Sanofi S.A., GlaxoSmithKline to name a few. Major players will face competition in the upcoming years due to patent protection loss.