Rare Neurodegenerative Disease Treatment Market
Rare Neurodegenerative Disease Treatment Market By Indication (Multiple Sclerosis, Alzheimer’s Disease, Parkinson’s Disease, Acute Migraine, Autism, Narcolepsy, ALS, ADHD, Spinal Muscular Atrophy, Tourette Syndrome, Others), By Drug Class, Distribution Channel and Region - Global Market Insights 2023-2033
Analysis of Rare Neurodegenerative Disease Treatment Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Rare Neurodegenerative Disease Treatment Market Outlook (2023 to 2033)
Currently, the global rare neurodegenerative disease treatment market accounts for a valuation of US$ 72.9 billion and is forecasted to reach US$ 119.2 billion by the end of 2033, expanding steadily at 5% CAGR over the next ten years.
Neurodegenerative disorders, also known as degeneration nerve diseases are caused by the progressive loss of function or structure of neurons. Some of the most commonly known neurodegenerative ailments are Alzheimer’s disease, Parkinson’s disease, Amyotrophic Lateral Sclerosis (ALS), etc.
Cures for the aforementioned rare neurodegenerative diseases are very sparse and for most of these diseases, there are no definite treatments available, which has led to rising research activity to discover and develop new treatment approaches. Increasing investments in research and development of novel therapeutics and supportive initiatives by governments to promote the same are expected to primarily boost rare neurodegenerative disease treatment market growth in the future.
Rising geriatric population, growing healthcare expenditure, increasing research activity, rising awareness among the general population, growing medical tourism, increasing number of product approvals by regulatory authorities, and rising popularity of precision medicine are other prospects that could potentially boost sales of rare neurodegenerative disease therapeutics and drugs going forward.
The Asia Pacific regional market is projected to emerge as the most remunerative market for key rare neurodegenerative disease treatment providers owing to increasing investments in healthcare infrastructure development and rising awareness regarding rare genetic disorders.
Contrastingly, the high costs of rare neurodegenerative disease treatment products and therapies are projected to influentially hamper overall market evolution in the long run. The treatments available for genetic disorders and rare diseases are still in their nascent stages, which creates uncertainty over their long-term effects on patients and hence acts as a major challenge for established as well as aspiring rare neurodegenerative disease treatment providers in the global landscape over the coming years.
An elaborative assessment of product standards, safety regulations, quality control, and other factors have been mentioned in this newly updated rare neurodegenerative disease treatment research study by Fact.MR, a market research and competitive intelligence provider.
Rare Neurodegenerative Disease Treatment Market Size (2023)
US$ 72.9 Billion
Projected Market Value (2033F)
US$ 119.2 Billion
Global Market Growth Rate (2023 to 2033)
Dominant Regional Market (2023)
Key Companies Profiled
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Which Key Factor is Aiding Rare Neurodegenerative Disease Treatment Market Growth?
“Rising Investments in Healthcare Research”
The prevalence of chronic disorders and rare diseases has increased noticeably in recent years and this has led to heightened demand for novel treatments and therapeutics to treat the aforementioned diseases. Supportive government initiatives and rising investments from the private sector to bolster research and development of novel treatments are influentially driving rare neurodegenerative disease treatment demand. Increasing awareness regarding rare genetic disorders among the general population is also expected to spur the sales of rare neurodegenerative treatment drugs in the future.
Collaborative efforts by government organizations and private companies to hasten the development of new treatment procedures and aid research scientists around the world are also expected to foster the rare neurodegenerative disease treatment market development across the forecast period.
- In September 2022, the National Institutes of Health (NIH) and the United States Food and Drug Administration (FDA) announced the launch of a private-public partnership to facilitate a better understanding of rare neurodegenerative disorders and promote the development of novel treatments for them. The partnership is called the Critical Path for Rare Neurodegenerative Diseases (CP-RND).
How Can New Entrants Penetrate This Competitive Market?
“Start-ups Penetrating the Industry by Creating Novel Therapeutics and Raising Funds to Bolster Research”
Upcoming rare neurodegenerative disease treatment providers are focusing on raising new capital to finance their research efforts and accelerate the launch of their novel therapies and treatments for rare diseases.
- In November 2022, Cajal Neuroscience, a Seattle-based start-up announced that it had raised US$ 96 million in a capital raise round. The company is specifically working on rare disorders such as Parkinson’s disease and Alzheimer’s disease. The company focuses on finding data on the neurodegeneration process and how genes affect the same.
- In September 2021, Neuroglee Therapeutics, a digital therapeutics start-up for people affected with neurodegenerative diseases announced that it had raised US$ 10 million in a Series A finance round that was led by EDBI and Openspace Ventures. The new funding was expected to be used for the launch of new virtual neurology clinics and to support the company’s move to Boston.
- ParaMag Biosciences, a new company is focusing on commercializing new technologies for the treatment of Alzheimer’s disease and other neurodegenerative ailments developed by researchers at UC Davis Health. Professor John Voss is leading the research and is working on protein misfolding to treat the aforementioned neurodegenerative diseases.
This new rare neurodegenerative disease treatment market research report by Fact.MR proffers a comprehensive assessment of how new developments by start-ups are influencing product standards and pricing trends on a global level.
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Which Country is Leading Market Growth in North America?
“United States to Spearhead Regional Market Development”
The frequent launch of new treatment drugs and therapies coupled with the presence of a developed healthcare infrastructure creates a highly opportunistic market scenario for rare neurodegenerative disease treatment providers in the United States. The presence of key biopharmaceutical companies, increasing research activity, and increasing approvals for new treatment products are other aspects that could potentially augment market development going forward.
Moreover, increasing awareness regarding the symptoms of neurodegenerative disorders and growing senescent population are also expected to promote sales of rare neurodegenerative disease treatment drugs and therapeutics in the country through 2033.
What Makes Japan an Investment-worthy Market?
“High Geriatric Population Driving Rare Neurodegenerative Disease Treatment Demand”
The rapidly aging population of Japan is a prime factor that is anticipated to bolster demand for rare neurodegenerative disease treatment in the country throughout the forecast period. Elder people are more at risk of contracting neurodegenerative disorders and as their population increases, it is projected to boost investments in research and development of novel neurological disorder therapeutics and treatments in Japan.
Rising awareness regarding dementia, a high focus on healthcare research, supportive government initiatives, and growing investments in medical infrastructure development are other factors that could potentially bolster market development in Japan through 2033.
- In February 2021, researchers at Okayama University in Japan discovered that stem cells have therapeutic capabilities to treat neurodegenerative diseases such as Amyotrophic lateral sclerosis (ALS), which currently has no definite cure.
What is the Demand Outlook for Rare Neurodegenerative Disease Treatment in European Countries?
“Rising Incidence of Neurodegenerative Disorders Driving Sales of Neurological Disorder Treatment Drugs”
European countries have witnessed a notable increase in the prevalence of neurodegenerative disorders among their population in recent years, which has subsequently driven the demand for novel treatments and therapeutics for the aforementioned disorders.
Rising investments in research and development of advanced treatments and supportive government initiatives to bolster healthcare infrastructure development are other factors that are anticipated to uplift rare neurodegenerative disease treatment demand in European countries such as Germany, France, and the United Kingdom over the next ten years.
Which Diseases Account for High Demand for Rare Neurodegenerative Disease Treatment?
“Alzheimer’s Disease & Parkinson’s Disease Leading Market Growth”
Based on indication, the rare neurodegenerative disease treatment market is segmented into multiple sclerosis, Alzheimer’s disease, Parkinson’s disease, acute migraine, autism, narcolepsy, Amyotrophic Lateral Sclerosis (ALS), Attention Deficit Hyperactivity Disorder (ADHD), spinal muscular atrophy, Tourette syndrome, Huntington’s disease, and others.
Alzheimer’s disease is one of the most commonly known neurodegenerative disorders that affect several people across the world and is projected to prominently influence demand for neurodegenerative disease treatment over the coming years. Alzheimer’s disease mostly causes dementia and affects the older population of more than 60 years. The expanding geriatric population on a global level is projected to bolster demand for the treatment of Alzheimer’s disease, Parkinson’s disease, etc. over the coming years.
- As per the statistics published on the Alzheimer’s Disease International website, more than 55 million individuals were living with dementia in the year 2020.
Increasing awareness regarding the aforementioned neurodegenerative diseases coupled with advancements in the medical industry is predicted to offer lucrative growth scope for rare disease treatment providers.
Competitive Landscape :
Prime rare neurodegenerative disease treatment providers are focusing on expanding their business scope through the launch of new services and products.
- In July 2022, Labcorp, a renowned clinical services organization announced the launch of its first blood test to identify and confirm the symptoms of various neurodegenerative disorders such as Parkinson’s, ALS dementia, etc. It achieves this by tracking the neurofilament light chain (NfL), which is a particular protein found in the bloodstream.
More insights about new developments by leading rare neurodegenerative disease treatment companies and how they alter future pricing trends have been discussed in detail in this revised Fact.MR research analysis.
Rare Neurodegenerative Disease Treatment Industry Research Segments
By Indication :
- Multiple Sclerosis
- Alzheimer’s Disease
- Parkinson’s Disease
- Acute Migraine
- Amyotrophic Lateral Sclerosis (ALS)
- Attention Deficit Hyperactivity Disorder (ADHD)
- Spinal Muscular Atrophy
- Tourette Syndrome
- Huntington’s Disease
By Drug Class :
- Neurotransmitter Agents
- Neuroprotective Agents
By Distribution Channel :
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
By Region :
- North America
- Latin America
- FAQs -
The global rare neurodegenerative disease treatment market stands at US$ 72.9 billion in 2023.
By 2033-end, rare neurodegenerative disease treatment demand is slated to rake in revenue of US$ 119.2 billion.
Over the next ten years, demand for rare neurodegenerative disease treatment is projected to rise steadily at 5% CAGR.
The North American rare neurodegenerative disease treatment market accounts for a commanding share of the global landscape.
GlaxoSmithKline Plc, Bayer AG, Teva Pharmaceuticals Industries Ltd., and Novartis AG are key companies in this space.