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Neurotherapeutic Drugs Market: Overview

Neurological disorders are referred to as the change in the functioning of nervous system. Etiology of neurological disorder includes structural or biochemical change in the activity of brain, spinal cord and other nerves. Neurological disorders can be segmented primarily into three categories that include peripheral nervous system disorders (PNS) disorder, autonomous nervous system (ANS) disorder and central nervous system (CNS) disorders. Disorders those are associated with nerve and ganglia outside the brain and spinal cord are categorized as peripheral nervous system disorder. Likewise, disorder associated with brain and spinal cords are included in central nervous system disorders. Visceral fibers and efferent fibers are found in autonomic nervous system which acts as a control system for the CNS and PNS.  

Disorders in the above mentioned fiber are termed as autonomous nervous system disorder. Most of the neurologic disorders involve progressive decline in mental and physical capabilities that disturbs patient’s life. This change in activity of brain can be witnessed due to brain injury, changing lifestyle, genetic disorders, congenital health problems and other traumas. Patients suffering from these neurological disorders witnessed varied symptoms such as muscle weakness, paralysis, poor condition, pain and other disorders. Alzheimer’s, Parkinson’s, Huntington’s disease, neurological cancers, epilepsy and others traumas are the common neurological disorder.

Hence, neurotherapeutic drugs are prescribed for the management of such anxiety causing disorders. Few of the neurological therapeutic products that are in development phase includes MEM 3454, MKC-231, NS2330, 189254, Phosiphen, IL-13-PE38, 737004, 234551, CEP 1347, KW-6002, SLV308, MT 100, MT 300 and BIBN4096 BS.

Neurotherapeutic Drugs Market: Trends and Drivers

An increase in the geriatric population base worldwide, rising investments in R&D, and a deeper understanding of neurologic diseases are aiding the growth of the neurotherapeutic drugs market globally. The aged are more prone to brain disorders – this thus makes the growing geriatric population a high-impact driver for the demand for and sales of neurotherapeutic drugs worldwide. The World Health Organization has reported that by 2020, about 14.1% of the global population will suffer from some form of neurologic disorder. This will impel the production of neurotherapeutic drugs.

Some of the neurological drugs that occupy the lion’s share of the neurotherapeutic drugs market include Alzheimer’s, peripheral nerve disorders and neurological cancers.  Moreover, a large number of drugs are also available in the market for the treatment of the other neurological conditions such as stroke, dementia, migraine, Huntington’s disease, movement disorders, epilepsy and others. As supervision of both severe and persistent condition of the above mentioned disorder is a challenge to the patient and healthcare industry. Hence, a number of neurotherapeutic drugs are available in the market or in the clinical trial phases. 

Neurotherapeutic Drugs Market: Region-wise Outlook

Geographically, North America stands as the largest neurotherapeutic drugs market due to major and regular technological advancements. The region is marked by the presence of top market players. Moreover, with heightened awareness among people about various neurological conditions and government initiatives, the growth of the neurotherapeutic drugs treatment market is North America is projected to remain steady. Europe held the second largest neurotherapeutic drugs treatment market trailed by Asia-Pacific and Rest of the World. APAC is regarded as an emerging market as several countries in the region are poised on the brink of strong economic growth (healthcare facility upgradation, healthcare infrastructure, and product expansion). These countries include India, China, Japan, and Malaysia.

Various key players contributing to the global neurotherapeutic drugs treatment market comprises Abbott Laboratories, Inc., Becton, Dickinson and Company, Novartis AG, Johnson & Johnson, Pfizer, Inc., Sanofi-Aventis, Biogen, Inc., GlaxoSmithKline, Inc., AstraZeneca plc and Merck & Co.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Neurotherapeutic Drugs Market

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