Rare Neurological Disease Treatment Market to Surpass US$7Bn, with Heightened Investments in Orphan Drugs, Says Fact.MR
Published : 11 Mar 2020 Industry: Healthcare
The global rare neurological disease treatment market is anticipated to reach a value pool of ~US$7.5 Bn by 2020 and is projected to grow at Y-o-Y of over 8.5% by 2020 over 2019. The market for rare neurological disorder treatment is expected to follow an upward growth trend over the forecast period on the back of increasing trend of e-prescribed drugs, promotional programmes and regulatory exclusivity. The new business model to invest more in orphan drugs developments could offer an integrated healthcare solution that enables pharmaceutical companies to develop newer areas of therapeutics, diagnosis, treatment, monitoring, and patient support. In addition, increasing penetration of online pharmacies is also becoming a wish list of key manufacturers to drive revenue in the rare neurological disease treatment market.
Key Takeaways from the Rare Neurological Disease Treatment Market:
- In terms of revenue, North America accounts for ~40% of the market share in the global rare neurological disease treatment market
- In East Asia, three countries namely Japan, Taiwan and South Korea have introduced policies that foster orphan drug research and development. Resultantly, the region is expected to witness a strong growth of over 8% during the forecast period (2018-2028).
- Increasing per capita healthcare spending on rare neurological diseases such as Alzheimer’s is supporting the robust growth of the global rare neurological disease treatment market. Healthcare spending on Alzheimer’s disease treatment is poised to create an absolute $ opportunity of more than US$ 5 Bn during the forecast period.
- The retail pharmacy and drug store segment continues to set a high standard to achieve superior rates of customer satisfaction and is projected to grow at a Y-o-Y of 9% through the forecast period
“Strategic partnerships between pharmaceutical giants and researchers as well as orphan drug legislations are providing financial incentives for companies developing drugs for rare neurological diseases”, Says an Analyst at Fact.MR
Market Players Consolidating with Widening Investment Opportunities
The global rare neurological disease treatment market is consolidated across the legacy regions and witnessing several new investments and entry of new manufacturers in key therapeutic areas owing to increasing prevalence of rare diseases. Key Players such as Pfizer, Inc., Johnson & Johnson Services, Inc. and Novartis AG are continuously emphasizing on new investments and R&D activities to reduce their manufacturing costs. Over the years, the global market for rare neurological disease treatment has witnessed several collaborations and partnerships between the drug manufacturers to enhance revenue generation and expand geographical drug footprints. This has created several growth opportunities for manufacturers to increase their share in the rare neurological disease treatment market.
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The research study on the rare neurological disease treatment market by Fact.MR incorporates an unbiased assessment of key demand-driving factors and trends, which have shaped the landscape of the rare neurological disease treatment market over 2013 – 2017 and includes a detailed assessment of key parameters that are anticipated to exert influence during 2018 – 2028. Market statistics have been presented on the basis of drug class (anti-depressants, anti-psychotics, cholinesterase inhibitors, biologics, and others (anti-vertigo, anti-seizure, etc.)), route of administration (injectable and oral), disease indication (alzheimer’s disease, narcolepsy, multiple sclerosis, amyotrophic lateral sclerosis, and others), and distribution channel (hospital pharmacies, retail pharmacies & drug stores, and online pharmacies) across major countries of key regions.
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