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Neurological Diseases Treatment Market is expected to grow at a CAGR of 5.1%

With changes in lifestyle, the frequency of neurological/EEG disorders is increasing significantly. One of the most common diseases is epilepsy. The prevalence of epilepsy focuses on the number of people with epilepsy at any given point in time. This comprises people with new-onset epilepsy plus those who have had epilepsy for a longtime. Each year, about 150,000 Americans are diagnosed with the central nervous system disorder that causes seizures. Furthermore, it is estimated that over a lifetime, one in 26 people will be diagnosed with it. Rising research and development activities in the field of neurology have been the key driver for the neurological diseases treatment market and is expected to fuel its growth throughout the forecast period (2022 – 2030). The neurological diseases treatment market is expected to grow at a CAGR of 5.1% during the forecast period 2022-2030.

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As per the Centers for Disease Control and Prevention, around 2.3 million American adults suffer from epilepsy. More than 467,000 children have been diagnosed with the central nervous system disorder. Also, as per the WHO, neurological disorders are expected to grow from 95 million globally in 2015 to 103 million by 2030.The anticholinergic and antiepileptic segment alone contribute to over 44% of the revenue share in 2021. Based on therapeutic segment, Alzheimer’s disease dominated the market segment in 2021.

North America accounted for the largest share in global neurological diseases treatment market due to key driving factors such as rising prevalence of neurological diseases, rising awareness associated with early neurological disease diagnosis and treatment, supportive reimbursement policies, & incessant developments in the field of research and development. An estimated 5.4 million Americans have Alzheimer’s disease and today someone in America develops Alzheimer’s disease every 68 seconds. By 2050, there is expected to be one new case of Alzheimer’s disease every 33 seconds, or nearly a million new cases per year, and Alzheimer’s disease prevalence is projected to be 11 million to 16 million. During the forecast period 2021 – 2029, Asia Pacific was observed as the fastest growing region. The key driving factors include increasing prevalence of neurological disorders, developing healthcare infrastructure, rising awareness associated with neurological diseases which is fueling the rate of diagnosis, and mounting accessibility of modern treatments in developing countries such as China, India, and Indonesia.

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It is evident that drug related activities are the most preferred strategy among the top players. Drug related activities include drug approval across various geographies, presenting clinical trial outcomes, receiving permission to launch neurology drugs in various phases of clinical trials. Strategies such as mergers and acquisitions and partnerships & collaborations are comparatively insignificant in this market. Other strategies include receiving recognitions, creating awareness, participation in neurology related events and so on. The market is dominated by several players, depending on their major competencies. The key players in this market are Novartis, GSK, Merck & Co., Boehringer Ingelheim GmbH, Bayer AG, Astra Zeneca, F-Hoffmann-La Roche Ltd., Teva Pharmaceutical Industries Ltd., and GlaxoSmithKline plc among others.

KEY MARKET MOVEMENTS

  • The neurological diseases treatment market is expected to grow at a CAGR of 5.1% during the forecast period 2022-2030.
  • The anticholinergic and antiepileptic segment alone contribute to over 44% of the revenue share in 2021.
  • Based on therapeutic segment, Alzheimer’s disease dominated the market segment in 2021.
  • North America accounted for the largest share in global neurological diseases treatment market.
  • Asia Pacific was observed as the fastest growing region.
  • It is evident that drug related activities are the most preferred strategy among the top players.
  • The key players in this market are Novartis, GSK, Merck & Co., Boehringer Ingelheim GmbH, Bayer AG, Astra Zeneca, F-Hoffmann-La Roche Ltd., Teva Pharmaceutical Industries Ltd., and GlaxoSmithKline plc among others.

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