Rare Neurodegenerative Disease Treatment Market
Rare Neurodegenerative Disease Treatment Market (Indication: Multiple Sclerosis [MS], 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; Drug Class: Neurotransmitter Agents, Neuroprotective Agents, Biologics, and Others; and Distribution Channel: Hospital Pharmacies, Online Pharmacies, and Retail Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Emergence of New Medical Approaches and Efforts to Improve Collaborative Research Networks to Aid Market Growth
The healthcare sector around the world is compelled to address a host of challenges, ranging from the onset of a pandemic to the discovery of new drugs and treatments for different diseases and medical conditions. One of the major areas within the healthcare sphere that continues to attract immense attention is that of the rare neurodegenerative disease treatment and the growing prevalence of several rare diseases worldwide. In addition, the prevalence of the rare neurodegenerative diseases has witnessed a gradual growth over the past couple of decades, owing to surge in the aging population, fast-paced urban lifestyle, etc.
Research and development activities have played an imperative role in enabling the growth of the biomedical research space and informatics due to which, understanding the epigenetic modifications, nutrition, and microbiome impact on health has improved considerably. Technological advancements and availability of computational facilities for large-scale analysis have also played an essential role in fueling the growth of the rare neurodegenerative disease treatment market– a trend that is expected to continue during the forecast period. In addition, the emergence of new medical approaches and ongoing efforts to improve collaborative networks across healthcare facilities are other major factors that are likely to propel the growth of the rare neurodegenerative disease treatment market in the forthcoming decade.
Increasing government support, private investments toward the development of new treatments and therapeutics, and demand for personalized treatment programs is likely to deeply influence the growth trajectory of the market for rare neurodegenerative disease treatment in the upcoming years. At the back of these factors, the global rare neurodegenerative disease treatment market is expected to attain a market value of US$ 116.3 Bn by the end of 2030.
To know the scope of our report Get a Sample on Rare Neurodegenerative Disease Treatment Market
Research Activities to Shape Future of Rare Neurodegenerative Disease Treatment
Over the past few decades, researchers, scientists, and other experts across the healthcare sector have come together to discover new therapies and medications for different rare neurodegenerative diseases. Research and development activities have shifted gears in the past decade due to which, the growth of the global rare neurodegenerative disease treatment market is projected to remain consistent in the upcoming years. In several regions, regulatory authorities, along with leading research organizations have enabled a host of research projects to move forward and thereby, offer promising advancements in the field of rare neurodegenerative disease treatment. For instance, the European Joint Programme on Rare Diseases (EJP RD) was primarily established to improve the overall efficiency and coordination among various research institutes working in tandem across the global rare neurodegenerative disease treatment market.
Get a glimpse of the in-depth analysis through our Report Brochure
Research and development activities continue to focus on several key areas, including the development of novel therapeutics in a preclinical setting, leveraging disease models for improved drug development, and developing predictive and pharmacodynamics (PD) biomarkers in a preclinical setting. The overall growth of the global rare neurodegenerative disease treatment market is expected to be primarily driven by research and development activities. Although R&D activities have gained considerable momentum, market players are of the opinion that additional efforts and time are required to address several challenges across the rare diseases space.
Demand to Remain Steady amid COVID-19 Pandemic
The advent of the novel COVID-19 pandemic is anticipated to have a low impact on the overall growth of the global rare neurodegenerative disease treatment market. The healthcare bodies in different regions, along with local governments are increasingly seeking new approaches to address the medical conditions among patients suffering from rare diseases, including rare neurodegenerative diseases, as they are more vulnerable to the COVID-19 infection. Government personnel is increasingly focusing on providing access to high-quality and life-saving medications to patients suffering from rare diseases. While curbing the transmission of the novel COVID-19 virus is a top priority across the world, the U.S. FDA has also prioritized the development of new treatments for rare diseases. Moreover, governments in various developed regions of the world are also increasingly focusing on ensuring continuity of care for patients suffering from rare diseases such as global rare neurodegenerative disease. At present, governments across the world are seeking various avenues to improve the quality of treatment and access to these treatments for patients suffering from rare diseases during the COVID-19 pandemic.
Expanding operations in future? To get the perfect launch ask for a custom report
The global rare neurodegenerative disease treatment market is expected to expand at a moderate CAGR of ~5% during the forecast period. The market growth can be primarily attributed to factors such as growing prevalence of rare diseases worldwide, growing private investments, increasing support from governments, collaborations between research and medical institutes, and rising interest from the private sector. At present, research and development activities are likely to drive the global rare neurodegenerative disease treatment market.
Rare Neurodegenerative Disease Treatment Market: Overview
- According to Transparency Market Research’s latest research report on the global rare neurodegenerative disease treatment market for the historical year (2018), base year (2019), and the forecast period (2020–2030), increase in incidence of neurological disorders is projected to drive the global rare neurodegenerative disease treatment market in the near future
- According to the report, the global rare neurodegenerative disease treatment market was valued at US$ 67 Bn in 2019 and is anticipated to expand at a CAGR of ~5% from 2020 to 2030
Rise in Research & Development Programs to Drive Global Market
- Rise in prevalence and increase in demand for newer drugs for the treatment of rare neurological disorders have led to the rise in research & development efforts followed by the introduction of innovative neurological disorder drugs. For instance, GlaxoSmithKline plc, Novartis AG, and Merck & Co. have comprehensive R&D programs, wherein these companies focus on the development of new therapeutics for the treatment of neurodegenerative diseases.
- Increase in demand for neurological disorder drugs for treatment of Alzheimer’s disease and Parkinson’s disease, and rise in competition between key players are projected to boost the growth of the global rare neurological diseases treatment market. Leading players focus on research and development, with key technological improvements in drugs in order to fulfil customer demand.
- In January 2020, Biogen, Inc. acquired a novel clinical stage asset, PF-05251749, along with the applications from Pfizer for US$ 75 Mn. The acquisition will strengthen Biogen’s existing pipeline of potential disease-modifying therapies in Alzheimer’s and Parkinson’s diseases, as PF-05251749 is a CNS-penetrant regulator that has the potential to treat behavioral and neurological symptoms across various psychiatric and neurological diseases.
- In May 2019, Abbott Laboratories joined the National Institutes of Health's BRAIN Initiative to explore neuromodulation research. Therefore, rise in research & development programs and strategic decisions taken by various players augment the market.
Application of Precision Medicine in Neurodegenerative Diseases Propels Global Market
- Precision medicine is data driven, and requires integration of clinical research, experimental biology, bioinformatics, and training of competent data scientists
- MicroRNAs (miRNAs) have been extensively studied due to their implications in several disorders related to the central nervous system as well as for their potential role as biomarkers of diagnosis, prognosis, and response to treatment
- Hence, the application of precision medicine in the treatment and prevention of neurodegenerative disorders appears to be highly promising in contrast to the traditional approach
High Cost of Treatment to Hamper Global Market
- Cost of neurological disorder treatment is considerably high, owing to large quantity of antiepileptic, anticholinergic, and hypnotic & sedatives required. This is likely to hamper the global rare neurodegenerative disease treatment market.
- Researchers found that out-of-pocket costs for multiple sclerosis drugs exhibited the steepest monthly increase. People taking this medication paid an average out-of-pocket cost of US$ 15 a month in 2004, compared to an average of US$ 309 a month in 2016.
Rare Neurodegenerative Disease Treatment Market: Competition Landscape
- This report profiles major players operating in the global rare neurodegenerative disease treatment market based on attributes such as company overview, financial overview, product portfolio, major brands, business strategies, and recent developments
- The global rare neurodegenerative disease treatment market is moderately fragmented, with the presence of a few large players in the international market and numerous small players in regional markets. The top players hold major share of the global rare neurodegenerative disease treatment market.
- Prominent players operating in the global rare neurodegenerative disease treatment market include
- Allergan plc
- Bayer AG, F
- Hoffmann-La Roche Ltd.
- GlaxoSmithKline plc
- Johnson & Johnson
- Merck KGaA
- Novartis AG
- Pfizer, Inc.
- Teva Pharmaceutical Industries Ltd.
- The report on the global rare neurodegenerative disease treatment market discusses individual strategies, followed by company profiles of manufacturers of rare neurodegenerative disease treatment drugs and therapies. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global rare neurodegenerative disease treatment market.
Rare Neurodegenerative Disease Treatment Market – Scope of the Report
TMR’s report on the global rare neurodegenerative disease treatment market studies the past as well as current growth trends and opportunities to gain valuable insights for the market during the forecast period from 2020 to 2030. The report provides the revenue of the global rare neurodegenerative disease treatment market for the period from 2018 to 2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) for the global rare neurodegenerative disease treatment market for the same period.
The report has been prepared after extensive research. Primary research involves a bulk of research efforts, wherein analysts conducted interviews with market leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global rare neurodegenerative disease treatment market.
Secondary research also includes Internet sources and statistical data from government agencies, websites, and trade associations. Analysts have also employed a combination of top-down and bottom-up approaches to study various phenomena in the global rare neurodegenerative disease treatment market.
The report includes an elaborate executive summary, along with a snapshot of the growth pattern of various market segments included in the scope of the study. Furthermore, the report sheds light on the changing competition dynamics in the global rare neurodegenerative disease treatment market. These indices serve as valuable tools for existing market players as well as new players interested in entering the global rare neurodegenerative disease treatment market. The next section of the report highlights the USPs, which include regulatory scenario by region/globally, disease prevalence & incidence rates, pipeline analysis, and COVID-19 pandemic impact on industry (value chain and short/mid/long-term impact).
The report delves into the competition landscape of the global rare neurodegenerative disease treatment market. Key players operating in the global rare neurodegenerative disease treatment market have been identified and each one of them has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players operating in the global rare neurodegenerative disease treatment market profiled in this report.
Key Questions Answered in Rare Neurodegenerative Disease Treatment Market Report
- What are the major drivers, restraints, and opportunities in the global rare neurodegenerative disease treatment market?
- What is the revenue share projection of key segments of the global rare neurodegenerative disease treatment market during the forecast period?
- Which segment is likely to lead the global rare neurodegenerative disease treatment market in terms of revenue between 2020 and 2030?
- How mergers & acquisitions among players are widening the scope of the global rare neurodegenerative disease treatment market?
- What is the market position of different companies operating in the global rare neurodegenerative disease treatment market?
Rare Neurodegenerative Disease Treatment Market – Research Objectives and Research Approach
The comprehensive report on the global rare neurodegenerative disease treatment market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of objectives of this study and health care compliances laid down by accredited agencies in the purview of research in the global rare neurodegenerative disease treatment market. It is followed by market introduction, market dynamics, and an overview of the global rare neurodegenerative disease treatment market, which includes TMR’s analysis of market drivers, restraints, and trends pertaining to the global rare neurodegenerative disease treatment market. Furthermore, Y-o-Y growth analysis with elaborated insights has been provided in order to understand the Y-o-Y growth trend of the global rare neurodegenerative disease treatment market. The next section of the global rare neurodegenerative disease treatment report highlights the USPs, which include research & development strategies & pipeline analysis, treatment cost by key regions, and drug prices by key regions.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into smaller ones. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.
The report segments the global rare neurodegenerative disease treatment market in terms of indication, drug class, distribution channel, and region. Key segments under each criterion have been studied at length and the market share for each segment by the end of 2030 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investments in the global rare neurodegenerative disease treatment market.
Rare Neurodegenerative Disease Treatment Market – Segmentation