Neurodegenerative Disorder Market

Neurodegenerative Disorder Market Outlook (2023 to 2033)

According to Fact.MR, the global neurodegenerative disorder market is predicted to increase from a valuation of US$ 3.6 billion in 2023 to US$ 6.8 billion by 2033. Worldwide revenue from therapies for neurodegenerative disorders is projected to rise at a CAGR of 6.7% from 2023 to 2033.

The occurrence of amyotrophic lateral sclerosis (ALS) is rising worldwide. There has been an increase in patients displaying severe symptoms of neurodegenerative diseases, ultimately resulting in locked-in syndrome. This rise in cases is expected to drive the demand for neurodegenerative disease diagnosis and therapeutics, thus contributing to market growth.

• According to the ALS Association's 2021 Annual Report, approximately 21,545 individuals were living with ALS in the United States in 2021. that Globally, it is estimated there are 5,760 to 6,400 new cases of ALS each year, which equates to approximately one in 50,000 people. The report also suggests that 8% to 10% of ALS cases are believed to have an inherited component.

The symptoms of ALS, a degenerative neurological system illness that affects nerve cells in the nervous system and spinal cord and results in loss of muscle control, are most prevalent in older individuals between the ages of 55 and 75. The aging population is one of the primary factors fueling demand for neurodegenerative disorder diagnosis and treatment.

• According to projections from the World Health Organization (WHO) - 2021, one in six individuals worldwide will be 60 years of age or older by 2030. The number of people in the world who are 60 years of age or older is expected to increase from 1 billion in 2020 to 1.4 billion by 2050. By 2050, there will be twice as many people in the world who are 60 years of age or older (2.1 billion), compared to 2020.

Amyotrophic lateral sclerosis (ALS) is the most common motor neuron disease, leading to progressive dysarthria, dysphagia, paralysis, and respiratory disabilities.

Even in the advanced stages of ALS, caregiver-independent communication and environmental management are possible thanks to high-tech augmentative and alternative communication (HT-AAC) tools like eye-tracking-based computers and brain-computer interfaces. They allow patients to convey their end-of-life choices on their own and maintain their social participation. Utilization of these HT-AAC functions is believed to enhance the quality of life for patients, foster self-determination, and reduce the burden on caregivers.

HT-AAC is considered the benchmark for palliative care among individuals with ALS, due to its several benefits.

Report Attributes	Details
Neurodegenerative Disorder Market Size (2023)	US$ 3.6 Billion
Forecasted Market Value (2033)	US$ 6.8 Billion
Global Market Growth Rate (2023 to 2033)	6.7% CAGR
Market Share of Treatment Segment (2023)	91.2%
United Kingdom Market Growth Rate (2023 to 2033)	8.2% CAGR
United States Market Growth Rate (2023 to 2033)	6.7% CAGR
South Asia Market Growth Rate (2023 to 2033)	7.8%
Key Companies Profiled	Amylyx Pharmaceuticals, Inc. Mitsubishi Tanabe Pharma Corporate Eyegaze Inc. EYETECH DIGITAL SYSTEMS g.tec medical engineering GmbH Tobii AB Cognixion NeuroChat CereProc Ltd. EyeFree Assisting Communication Ltd. Synapse Biomedical Inc. Acapela Group Cyberdyne Inc. CareTech Holdings (Smartbox Assistive Technology)

What are the Factors Influencing the Demand for Neurodegenerative Disease Diagnosis and Treatments?

“Shift to Advanced Treatment Protocols and Improved Healthcare Infrastructure”

Increasing incidence of neurological disorders has led to the use of more advanced treatment protocols. There have also been advances in the technology offered by neurodegenerative disease drug manufacturers. Better access to improved healthcare facilities and therapies is enabling wider use of this technology.

Patients with disabilities, such as those who are paralyzed, benefit from recent advances in neurotechnology. Any technology that senses, affects, or communicates with the neurological system is referred to as neurotechnology. Brain-computer interfaces (BCIs) are a field of neurotechnology that is still relatively new.

Due to their high signal quality and potential 24/7 availability, implantable BCIs have the potential to provide a useful solution to the daily challenges faced by persons with LIS (locked-in syndrome). This is something that drives the attention of manufacturers in the neurodegenerative disorder market. This would eventually have a positive impact on neurodegenerative disorder diagnosis and treatments and the growth of the market.

“Rising Adoption of Stem Cell Therapy for ALS”

Mesenchymal stem cell therapy has demonstrated significant therapeutic potential in a variety of clinical settings in neurodegenerative disease research. Clinical trials have revealed that mesenchymal stem cells (MSCs) are a possible therapy option for ALS. MSC transplantation may postpone the development and course of the disease, improving life expectancy.

There may be a reduction in motor neuron loss, which can delay the loss of motor function. The outcomes of preclinical trials have supported the use of mesenchymal stem cells (MSCs) in ALS patients.

“More Government Investments in Healthcare Sector”

Encouraging the enhancement of healthcare infrastructure and augmenting government investment in medicine will promote the development of costly drugs and devices aimed at treating ALS and LIS (locked-in syndrome). Utilization of state-of-the-art medical equipment is expected to expand across diverse healthcare facilities.

There are lucrative opportunities for leading manufacturers to expand their business in countries with a high prevalence of neurological conditions.

What are the Hindrances to the Expansion of the Neurodegenerative Disorder Market?

“High Cost Associated with Neurodegenerative Disorder Therapy”

The high cost of drugs like edaravone is projected to hamper the growth of this market. Since there is no cure for both ALS and LIS, the medications that are supposed to slow down the progression of the disease are taken for a long period. This requires more money to be spent by patients whose treatment does not fall under insurance coverage.

Cost is an important factor in helping patients and their family members decide whether to take advantage of available treatments or medications. This also depends on the patients’ insurance policies. Therefore, the high cost is a restraint that hampers the growth of the market to some extent.

“Social Stigma Associated with Neurodegenerative Disorders”

Patients with Parkinson's disease encounter stigma, which can interfere with their daily activities and cause frustration and loneliness.

• Stigmatization of neurological disorders is highly prevalent across the world, particularly in rural regions, intensifying the distress endured by patients. According to a survey conducted by the European Federation of Neurological Associations in 2020, 92% of respondents reported experiencing stigma as a consequence of their neurological condition.
• As per the same survey, more than 75% of people with neurological disorders say they experience stigma because of their illness, and many claim that because of it, they have been the target of abuse.

These variables imply that social stigma is a significant problem for people with neurodegenerative illnesses. Conditions such as ALS and LIS are difficult to understand for people who have never experienced them and can be misunderstood as signs of weakness and are likely to keep patients from seeking timely treatment.

What Initiatives Should Start-ups Adopt for Gaining Market Opportunities?

“Increased Research and Development Activities Associated with ALS”

• According to the ALS Association, there were approximately 162 ongoing research projects related to ALS in around 13 countries as of 2021.

• The ALS Association has committed funding for 24 new projects in fiscal year 2021 to support promising projects around the world. During the year, the association continued its role as a global leader in ALS research by managing more than 162 active projects with a multi-year commitment of more than US$ 55 million and US$ 113 million for research from the ALS Ice Bucket Challenge.

These efforts are expected to provide lucrative opportunities for the growth of the neurodegenerative disorder market.

Country-wise Insights

What Makes the United States a Lucrative Market for Providers of Neurodegenerative Disorder Diagnosis and Treatments?

“High Prevalence of Neurological Disorders among Aging Population”

The market in the United States is projected to expand at 6.7% CAGR to reach US$ 1.1 billion by 2033.

The overall burden of neurodegenerative disorders is predicted to increase with the expanding aging population. The rise in funding for various research projects regarding neurodegenerative diseases and early detection of neurological conditions are anticipated to boost market expansion in the country.

What is the Demand Outlook for Neurodegenerative Disorder Treatment in Germany?

“Rigorous Research into Neurodegenerative Medicine Propelling Demand for Neurodegenerative Disorder Treatments”

The market in Germany is estimated to be valued at US$ 192.2 million in 2023.

Development of medications for neurodegenerative disorders by a significant number of companies in Germany has helped the market expand in the country. Increased disease awareness and research into treatments as a result of the rising prevalence of neurological conditions are also fueling demand for these treatments.

Once these drugs in the pipeline for the treatment of neurodegenerative disorders are successfully commercialized, they are anticipated to fuel market growth.

Why is the Need for Neurodegenerative Disorder Treatment Rising in China?

“Rising Incidence of Alzheimer's Disease and Related Dementias”

The market in China is estimated to expand at a CAGR of 6.7% throughout the forecast period (2023 to 2033).

• The China Alzheimer's Report 2022 reports the rising prevalence of neurodegenerative diseases such as Alzheimer's disease (AD) and neurodegenerative disease dementia. Coinciding with China's rapidly aging population, the incidence, morbidity, and mortality rates of AD have steadily increased, making it the fifth leading cause of death in both urban and rural areas of China. Consequently, there is a growing demand for suitable treatment options to address these disorders.

The Chinese government has implemented initiatives like “Healthy China” from 2019 to 2030, which aims to shift the focus of the population from disease treatment to health maintenance. This approach is expected to contribute to the increased adoption of neurodegenerative medicines and consequently propel the market further within the country.

Category-wise Insights

What Has Made Neurodegenerative Disorder Treatment Gain Traction?

“Growing Demand for Neurodegenerative Disorder Treatment Due to Their Effectiveness in Slowing Down Disease Progression”

The neurodegenerative disorder treatment segment was valued at US$ 3.1 billion in 2022.

While it is currently not feasible to stop the progression of neurodegenerative diseases, specific treatments can provide relief from certain physical or cognitive symptoms associated with these conditions. Neurodegenerative diseases have a significant impact on social and financial aspects, which can be mitigated through early detection and appropriate treatment.

There is an increasing willingness among individuals to seek treatment for neurodegenerative disorders to alleviate symptoms, slow disease progression, and improve overall well-being.

Which Indication-based Segment Accounts for Higher Demand?

“High Demand for Diagnosis and Treatment for Amyotrophic Lateral Sclerosis (ALS) Due to its Increased Prevalence Worldwide”

Based on indication, the market is classified into amyotrophic lateral sclerosis (ALS) and locked-in syndrome (LIS).

Based on indication, the amyotrophic lateral sclerosis (ALS) segment accounted for an 85.3% market share in 2022.

• According to the National Institute of Health (2020), the prevalence of ALS in 2016 in urban China was 2.91 cases per 100,000 individuals, while in the United States, the estimated prevalence ranged between 4 and 6 cases per 100,000 people.
• It is estimated that approximately 18,000 Americans are affected by ALS at any given time.

Which Service Provider Accounts for a Significant Market Share?

“Availability of Advanced Neurodiagnostic Tests and Skilled Healthcare Professionals in Hospitals”

Based on service provider, the market is classified into hospitals, specialty clinics, rehabilitation centers, home care settings, nursing care settings, and diagnostic centers. Hospitals held a 29.8% share of the market in 2022.

Hospitals are vital in managing the diagnosis and treatment of neurological conditions, especially neurodegenerative diseases. A team of professionals handles complex differential diagnoses and provides appropriate care to ensure accuracy and effectiveness. Hospitals employ a comprehensive approach, offering advanced facilities and neurodiagnostic tests for precise diagnoses and efficient treatment. As primary healthcare providers for individuals with neurodegenerative illnesses, hospitals provide specialized knowledge, comprehensive treatment options, extensive resources, easy accessibility, and supportive services.

Competitive Landscape

A significant number of companies operating in the global market for neurodegenerative disorders are heavily funding research and development projects. Mergers & acquisitions and expansion of product lines are common strategies used by key players. Major players in the market are employing innovative techniques such as new developments and unique marketing strategies to enhance their market share.

• Amylyx Pharmaceuticals made a significant announcement in September 2022, stating that RELYVRIO (sodium phenylbutyrate and taurursodiol) has been approved by the FDA as a medical treatment for adults with amyotrophic lateral sclerosis (ALS).
• In January 2021, Mitsubishi Tanabe Pharma America, a subsidiary of the company in the United States, entered into a license and supply agreement with Aquestive Therapeutics Inc. for the United States rights of Riluzole oral film, a therapeutic agent for ALS.

Key Segments of Neurodegenerative Disorder Industry Research

• By Diagnosis & Treatment :

  • Diagnosis
    • Inpatient
    • Outpatient
  • Treatment
    • Drugs
      • Riluzole
      • Edaravone
    • Therapy
      • Breathing & Feeding Care
      • Physical Therapy
      • Occupational Therapy
      • Speech Therapy
    • Assistive Technology Devices
      • Brain-computer Interfaces
      • Human-computer Interfaces
      • Speech Generating Devices
      • Communication Boards and Symbol Devices
      • Other Assistive Devices

• By Indication :

  • Amyotrophic Lateral Sclerosis (ALS)
  • Locked-in Syndrome (LIS)

• By Distribution Channel :

  • Hospitals Pharmacies
  • Retail Pharmacies
  • Drug Stores
  • Online Pharmacies
  • e-Commerce
  • Supermarkets

• By Service Provider :

  • Hospitals
  • Specialty Clinics
  • Rehabilitation Centers
  • Home Care Settings
  • Nursing Care Settings
  • Diagnostic Centers

• By Region :

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa