Rare Neurodegenerative Disease Treatment Market to Reach US$ 116 Bn by 2030; Redirection of Resources towards Combating COVID-19 Outbreak to Affect Growth in Near Term
Published : 06 Oct 2020 Industry: Healthcare
The global rare neurodegenerative disease treatment market is projected to witness steady growth at a CAGR of 5%, reaching a valuation of over US$ 116 billion by 2030. However, the coronavirus outbreak is expected to have a marginally negative impact on the industry in the short term. Supply chain issues and dedication of healthcare facilities towards handling the unprecedented challenges of the pandemic are hindering market growth at present.
On the other hand, increasing investments by market players towards drug development for the treatment of neurodegenerative diseases, and rising awareness among patients about varied treatment options, are major contributors to the growth of the market. Also, rise in medical tourism and investments towards modernization of healthcare infrastructure across developing countries in Asia Pacific are expected to benefit the rare neurodegenerative disease treatment market in the long term.
Key Takeaways from Rare Neurodegenerative Disease Treatment Market Study
- North America is a prominent regional market, accounting for a major market share on the back of high healthcare expenditure and the presence of top pharmaceutical manufacturers in the region.
- Hospital pharmacies are the leading channel of distribution for drugs associated with neurodegenerative diseases, driven by larger inventories.
- Multiple sclerosis is the leading indication in the rare neurodegenerative disease treatment market, supported by growing awareness about the disease and rise in cases in recent years.
- Sales of neuroprotective agents are essential for market revenue, with popularity supported by reduced side effects.
- The COVID-19 pandemic is expected to have a moderate adverse impact on the global rare neurodegenerative disease treatment market in the short term.
“Lack of awareness about neurodegenerative disease treatments among populations in rural and developing regions and dearth of curative treatment options as compared to disease management offerings are challenges that players in the market will have to contend with,”says a Fact.MR analyst
Research on Product Development - Key to Market Growth
Leading players in the global rare neurodegenerative disease treatment market, such as Allergan plc, Bayer AG, GlaxoSmithKline, Johnson & Jonson, Merck KGaA, Novartis AG, Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd. are increasingly investing in capacity and geographical expansion and research into product development pertaining to neurodegenerative ailments. These are key factors that are likely to contribute to the growth of revenue and bolster product improvement in the competitive rare neurodegenerative disease treatment market landscape in the long term.
More Valuable Insights on Rare Neurodegenerative Disease Treatment Market
Fact.MR, in its latest report, has provided readers with a comprehensive analysis of the global rare neurodegenerative disease treatment market, with details on historical demand (2015-2019) and forecast data for 2020 and 2030. The report provides insights on the rare neurodegenerative disease treatment market in terms of indication (multiple sclerosis, Alzheimer’s disease, Parkinson’s disease, acute migraine, autism, narcolepsy, amyotrophic lateral sclerosis, attention deficit hyperactivity disorder, spinal muscular atrophy, Tourette syndrome, Huntington’s disease, and others), drug class (neurotransmitter agents, neuroprotective agents, biologics, and others), and distribution channel (hospital pharmacies, online pharmacies, and retail pharmacies), across key regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa).
About the Healthcare Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the healthcare team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the healthcare industry lucidly in 50+ countries for over a decade. The healthcare team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.