Shift towards Orphan Drugs is anticipated to Drive Demand Growth in Rare Neurological Disease Treatment Market
The global rare neurological disease treatment market is projected to expand at a stellar CAGR of over 8.5% and is anticipated to grow 2.3x between 2018 and 2028.
Over the last decade, the prevalence of rare diseases, evolving trend of orphan drugs and increasing expenditure on healthcare has provided a huge momentum to overall sales of rare neurological drugs.
As a result, the global sales within the rare neurological disorder treatment market has achieved a new milestone and surpassed the valuation of US$ 6.5 Bn in 2019.
In addition, due to their relatively high market value share and growth rate, the rare neurological disease treatment market is estimated to remain the most lucrative market within the rare disease treatment markets.
Furthermore, rapid developments in healthcare and dramatic socioeconomic changes resulting in modified lifestyles is also giving opportunities to manufacturers to expand their footprint within the rare neurological disease treatment market
Revenue Share in Injectable Segment is forecast to Jump ~180 BPS
Ongoing research and development activities in the field of rare neurological disease treatment are proliferating on the back of increasing demand for orphan drugs.
This is anticipated to create an absolute dollar opportunity of US$ 8.1 Bn between 2018 and 2028.
The promulgation of disposable injectors is rapidly covering all aspects of the rare neurological disease treatment market. Hence, injectable drug delivery devices are acquiring a leading position.
Furthermore, increasing demand for patient friendly parenteral drug delivery systems and increasing number of surgical treatments are expected to boost the growth of injectable segment over the forecast period.
Biologics Segment to Account for over 40% Market Share in Drug Class Category
A biopharmaceutical revolution is showing its prevalence in pharmaceutical research and development laboratories which is driving industry-wide progress, including the advancement of primary packaging and delivery technologies.
Biologics is enabling the treatment of cancers, chronic autoimmune and lifestyle diseases that were previously untreatable. The biologics segment is projected to expand at a CAGR of over 7.5% over the long term forecast period (2018-2028).
The key players in the biologics segments are likely to face less competition across the globe on back of the high level of complexity that is associated with the production of biologics
Asia-Pacific to Pave Way for Profitable Alliances for Key Manufacturers
North America is poised to be the leading region in the global rare neurological disease treatment market accounting for a 2/5th market share in 2019 on the back of well-established healthcare infrastructure and continuous emphasis on R&D in drugs and treatment of rare diseases.
Changing regional demographics, epidemiology and amplified healthcare coverage plans in regions such as South Asia, East Asia and Latin America are propelling the global rare neurological disease treatment market within these regions.
In Europe, the disease treatment industry is mainly bound to various government policies and market strategies.
In a bid to attain a competitive edge over the market players at the global platforms, the players in Europe are concentrating on offering product innovations.
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Innovations in Value Chain is Setting a New Growth Trajectory for Key Market Actors
The global rare neurological disease treatment market is expected to showcase a consolidated market structure.
Key industry giants such as Novartis AG, Pfizer Inc., and Johnson & Johnson Services, Inc. hold more than 50% of share in the global rare neurological disease treatment market and are anticipated to attract more end users in near future owing to its brand positioning across the globe.
Manufacturers are focused on developing new therapies to decrease the burden of rare diseases, thus increasing their respective market shares.
In addition, innovations across the value chain and drug delivery models is likely to play a vital role in order to gain more penetration in the global market.
Global Rare Neurological Disease Treatment Market: In-Depth Assessment on Key Segments
The global rare neurological disease treatment market is segmented on the basis of drug class, route of administration, disease indication, distribution channel, and region.
Route of Administration
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Country-specific assessment on demand for rare neurological disease treatment has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous rare neurological disease treatment manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target disease indications. The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global rare neurological disease treatment market.
Some of the key competitors operating in the rare neurological disease treatment market are Novartis AG, Pfizer, Inc., Johnson & Johnson Services, Inc. Bayer AG, GlaxoSmithKline Plc, Sanofi S.A., Allergan Plc, Merck & Co., Inc., and others.
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