Neurodegenerative Disorder Therapeutics Global Market Report 2021: COVID-19 Growth And Change To 2030
Major players in the neurodegenerative disorder therapeutics market are Biogen, Pfizer, Novartis, Sanofi, Teva Pharmaceutical, UCB, Hoffmann- La Roche Ltd, ACADIA Pharmaceuticals Inc. , Lundeck A/S and Boehringer Ingeiheim International GmbH.
New York, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Neurodegenerative Disorder Therapeutics Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151524/?utm_source=GNW
The global neurodegenerative disorder therapeutics market is expected to grow from $14.08 billion in 2020 to $15.19 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $20.15 billion in 2025 at a CAGR of 7%.
The neurodegenerative disorder therapeutics market consists of sales of neurodegenerative disorder therapeutics products and related services for neurodegenerative disorders.Neurodegenerative disorder is a range of incurable conditions that primarily affect the neurons of human brain and results in progressive degeneration or death of nerve cells.
The neurodegenerative disorder therapeutics deals with the manufacturing and development of drugs and treatment that stops or slows down the neurodegenerative processes of diseases such as Parkinson’s, Alzheimer’s, Huntington’s and other neurodegenerative disorders.
The neurodegenerative disorder therapeutics market covered in this report is segmented by indication type into Parkinson’s disease, Alzheimer’s disease, multiple sclerosis, Huntington disease, other indications. It is also segmented by drug type into n- methyl- d- aspartate receptor, selective serotonin reuptake inhibitor, dopamine inhibitors, others and by distribution into hospital pharmacy, retail pharmacy, online pharmacy.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
High rates of failure in clinical trials and research and development (R&D) have always been a major challenge in the neurodegenerative disorder therapeutics market.Companies are continuously investing in R&D to develop treatments for neurodegenerative diseases but currently very few treatments are approved for neurodegenerative disorders.
According to a study in 2019, there are officially 112 new molecular entities in Alzheimer’s disease (AD) clinical trials, although there are 3558 in cancer trials.For instance, 12 of the 42 (28 per cent) drugs certified by the US Food and Drug Administration (FDA) were oncology therapies, this compares with 0% of AD drugs in production.
This failure entitled Alzheimer’s disease drugs to the highest rates of failure at 99.6% when compared to any other disease, including cancer, which has a failure rate at 81%. Moreover, as reported by The New England Journal of Medicine, no new drug has been approved by the Food and Drug Administration (FDA) to treat Alzheimer’s disease since 2013. The low rate of approval of neurodegenerative therapeutics has a negative impact on the market, hindering the growth of the market.
In January 2020, Biogen Inc., an America Biotechnology company acquired a novel clinical stage asset, PF-05251749 alongwith the applications from Pfizer for $75 million. The acquisition of the asset is expected to strengthen Biogen’s existing pipeline of potential disease-modifying therapies in Alzheimer’s and Parkinson’s diseases since PF-05251749 is a CNS- penetrant regulator that has the potential to treat behavioral and neurological symptoms across various psychiatric and neurological diseases. Pfizer Inc., is a multinational pharmaceutical company based in the USA.
Increased prevalence of neurodegenerative among the global population contributes to the growth of neurodegenerative disorder therapeutics market.The increase in the number of geriatric population, attributes to the increased prevalence of neurodegenerative disorders.
According to World Population Prospects, the number of people above 60 years of age increased to 2.1 billion in 2050 and it is expected that people aged over 80 years will triple to 425 million in 2050. According to the Alzheimer’s Association, around 5.8 million Americans are suffering with Alzheimer disease and this number is projected to rise to around 14 million by 2050. The increased prevalence of neurodegenerative diseases among the ageing population increases the demand for neurodegenerative disorder therapeutics thereby driving the market.
Manufacturers of neurodegenerative disorder therapeutics are undergoing various strategic partnerships with government and non- government organizations to discover and develop therapeutics for a range of neurodegenerative diseases.The companies in the neurodegenerative disorder therapeutics market are also increasing their collaboration with other players in the market in order to increase their capabilities for research and development activities in order to develop new and more effective therapeutic solutions to treat neurodegenerative disorders.
For instance, from October 2019, Prevail Therapeutics Inc., a USA based biotechnology company and Lonza, a global supplier of pharma & Biotech and specialty ingredients based in Switzerland, collaborated to develop and manufacture gene therapy programs for patients of neurodegenerative diseases. Similarly, Abbevie, a USA based biopharmaceutical company and Voyager Therapeutics, a clinical stage gene therapy company based in USA, underwent a global strategic collaboration to develop and commercialize treatments for Alzheimer’s disease and other tau-related (a protein) neurodegenerative diseases.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06151524/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001