Global Rare Neurodegenerative Disease Treatment Market Overview
Neurodegenerative diseases largely refer to incremental damage to nerve cells in different parts of the body. These ailments, including Alzheimer’s disease, Parkinson’s disease, ADHD, and ALS, can result in loss of memory and cognitive control. While cures for such conditions are very limited, over the years, the pharmaceutical industry has released a number of treatment offerings to minimize the symptoms of neurodegenerative diseases.
The global rare neurodegenerative disease treatment market size is anticipated to expand at a steady rate to surpass a valuation of US$ 116 billion by 2030-end. The COVID-19 pandemic is expected to have a moderate impact on the market. Advances in medical technology for the diagnosis and treatment of these ailments will contribute to long-term growth.
Rare Neurodegenerative Disease Treatment Market Insights by Indication
Neurodegenerative diseases can arise from deposits of toxins in brain tissue or alternatively through genetic mutations, or misfolded protein in the body’s neural network, which can result in a range of illnesses. The rare neurodegenerative disease treatment market has been divided into varying indications, including multiple sclerosis, Alzheimer’s disease, Parkinson’s disease, acute migraine, autism, narcolepsy, amyotrophic lateral sclerosis, attention deficit hyperactivity disorder, spinal muscular atrophy, Tourette syndrome, and others.
The leading indication of rare neurodegenerative diseases, which holds a majority market share, is from multiple sclerosis, with increasing cases across North America and Europe. Alzheimer’s disease and Parkinson’s disease also account for substantial market share, with increased research investments, which is a major growth influencer.
Rare Neurodegenerative Disease Treatment Market Insights by Drug Class
The global rare neurodegenerative disease treatment market is primarily segmented according to drug class into neurotransmitter agents, neuroprotective agents, and biologics. Out of these, neuroprotective agents are estimated to account for a larger market share on the back of lower toxicity in comparison to conventional synthetic drugs.
The use of plant polyphenols aids neurotransmitter regulation and regular functioning of neurotransmitter receptors. Also, these drugs provide antioxidant benefits, which widens the scope of therapeutic applications, aiding growth in the market.
Rare Neurodegenerative Disease Treatment Market Insights by Distribution Channel
In the rare neurodegenerative disease treatment market, drugs are commonly distributed through hospital pharmacies, retail pharmacies, and online pharmacies. Out of these channels, hospital pharmacies account for significant rare neurodegenerative disease treatment market share.
Growth of this segment can be primarily attributed to the availability of critical drugs, robust supply chains, and larger volumes of inventory being maintained by relevant hospital facilities in the industry.
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Regional Outlook of Rare Neurodegenerative Disease Treatment Market
The global rare neurodegenerative disease treatment market is divided into the following regions – North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is likely to remain a prominent market for rare neurodegenerative disease treatment, with efforts by major market players to consolidate their position through strategic mergers and acquisitions.
Europe is also projected to reflect strong growth on the back of growing incidence of neurodegenerative diseases, while Asia Pacific will generate lucrative opportunities with increased investments in healthcare modernization initiatives in China and India, coupled with the growth of medical tourism in the region.
Rare Neurodegenerative Disease Treatment Market: Key Players
The global rare neurodegenerative disease treatment market is fairly fragmented in nature, characterized by the presence of numerous small-scale players in regional markets. Leading players in the market include Allergan Plc, Bayer AG, F.Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Merck KGaA, Novartis AG, Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.
Manufacturers in the rare neurodegenerative disease treatment market are increasingly emphasizing on investments towards product development and launches, with improvements in functionality and accuracy of results.
- For instance, Ionis Pharmaceuticals announced the receipt of FDA approval of Orphan Drug status for its ION373 treatment for Alexander Disease.
- Similarly, Orphazyme A/S announced the acceptance of New Drug Application for arimoclomol as a viable treatment for Type C Niemann-Pick disease.
- Also, PTC Therapeutics launched PTC Pinpoint, which is a genetic testing program for detecting neurotransmitter disorders.
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The Analyst’s Viewpoint
“A number of drug candidates for rare neurodegenerative disease treatments in research & development and clinical trial settings have revealed promising results. Consequently, major pharmaceutical manufacturers are expected to leverage these opportunities in the near future, through investments in product development and strategic collaborations.”
COVID-19 Impact on Rare Neurodegenerative Disease Treatment Market
Recent research has shown that the effects of COVID-19 on people suffering from rare neurodegenerative disorders is largely unpredictable. For instance, neuropathology of Parkinson’s disease has been found to potentially reduce symptoms of the COVID-19 virus. On the other hand, patients suffering from multiple sclerosis are at higher risk.
In addition, progression of neurodegeneration and long-term impacts of COVID-19 are yet to be discovered, with neurological ailments increasing the severity of acute respiratory syndrome. Further, redirection of medical resources for COVID-19 treatment and restrictions on in-person consultations are likely to have an adverse impact on the rare neurodegenerative disease treatment market in the short term, while creating lucrative opportunities through telehealth mediums.
Rare Neurodegenerative Disease Treatment Market: About the Report
Fact.MR has published an exclusive report on forecast data on the global rare neurodegenerative disease treatment market for the period of 2020 and 2030. A key objective of this study on the rare neurodegenerative disease treatment market is to generate actionable insights on the market scenario, demand influencers, and technological improvements in the industry. Further, the report on discusses essential dynamics that are likely to affect the future and sales of leading neurodegenerative treatment options.
The report on the global rare neurodegenerative disease treatment market starts with an executive overview, which includes precise product definition. The report also provides the taxonomy of the rare neurodegenerative disease treatment market, with comprehensive details on key segments. Also, the study provides actionable insights on the dynamics of the rare neurodegenerative disease treatment market, including the drivers, restraints, opportunities, and trends, in addition to pricing analysis and major purchase influencers for relevant treatments. Pricing analysis and supply chain analysis in addition to major differences in rare neurodegenerative disease treatments have been added to the report to aid readers in gaining clearer understanding the product framework map in the global rare neurodegenerative disease treatment market.
Rare Neurodegenerative Disease Treatment Market – Report Scope
Fact.MR recently published a report on the global market for rare neurodegenerative disease treatments. The study gives a clear assessment of critical market dynamics, including the drivers, trends, opportunities, and restraints, in addition to detailed data about the structure of the rare neurodegenerative disease treatment market. The market study presents exclusive information about how the rare neurodegenerative disease treatment market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market and compounded annual growth rate (CAGR) are explained in Fact.MR’s study in detail. This information can help readers understand the quantitative growth prospects of the rare neurodegenerative disease treatment market during the forecast period.
The study is relevant for stakeholders in the rare neurodegenerative disease treatment market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the rare neurodegenerative disease treatment market, investors, industry experts, researchers, and journalists, as well as business researchers, can leverage the information and data presented in Fact.MR’s study.
It also offers actionable insights based on the future trends in the rare neurodegenerative disease treatment market. Furthermore, small businesses and new entrants in the rare neurodegenerative disease treatment market too can make use of the information presented in this study, based on which, they can make appropriate business decisions to gain momentum in the market.
Key Segments of Rare Neurodegenerative Disease Treatment Market
Fact.MR’s study on the rare neurodegenerative disease treatment market offers information divided into four important segments — indication, drug class, distribution channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
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Key Questions Answered in Fact.MR’s Rare Neurodegenerative Disease Treatment Market Report
- Which regions will remain the most profitable regional markets for rare neurodegenerative disease treatment market players?
- Which factors will induce a change in the demand for rare neurodegenerative disease treatments during the assessment period?
- How will changing trends impact the rare neurodegenerative disease treatment market?
- How can market players capture the low-hanging opportunities in the rare neurodegenerative disease treatment market in developed regions?
- Which companies are leading the rare neurodegenerative disease treatment market?
- What are the winning strategies of stakeholders in the rare neurodegenerative disease treatment market to upscale their position in this landscape?
- What is the impact of the COVID-19 pandemic on the rare neurodegenerative disease treatment market?
Rare Neurodegenerative Disease Treatment Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the rare neurodegenerative disease treatment market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the rare neurodegenerative disease treatment market study include statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the rare neurodegenerative disease treatment market, and makes Fact.MR’s projections on the growth prospects of the rare neurodegenerative disease treatment markets more accurate and reliable.
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Rare Neurodegenerative Disease Treatment Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030