The market is projected to grow with a CAGR of 8. 7% from 2020-2027. The rare neurological disease treatment market is growing primarily due to the rising prevalence of rare neurological diseases, increasing awareness about rare diseases, and robust pipeline drugs in the North America region that are boosting the market over the years.
New York, May 19, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Rare Neurological Disease Treatment Market to 2027 - Regional Analysis and Forecasts by Indication ; Drug Type ; Distribution Channel ; Mode of Administration and Country" - https://www.reportlinker.com/p05894575/?utm_source=GNW
Restraining factors, such as higher cost of rare neurological disease treatments likely to damage the growth of the market in the coming years.
On the other hand, artificial intelligence for the treatment of rare neurological diseases is expected to have a positive impact on the growth of the North America rare neurological disease treatment market in the coming years.
A large group of rare diseases that have inefficient diagnoses and treatments are the neurological disease.These diseases target the nervous system, which include the brain, spinal cord, and all the nerves that run throughout the human body.
There is no surety regarding the onset of the diseases; some can strike during childhood, whereas others can affect even highly aged people.
Rapid developments in healthcare and drug discovery are leading to the introduction of new therapeutic solutions for the treatment of rare neurological diseases.Authorities such as World Health Organization, National Institute of Neurological Disorders and Stroke, and National Institutes of Health are taking constructive steps to encourage the research activities to find a remedy for rare neurological disease treatment.
For instance, in August 2019, National Institute of Neurological Disorders and Stroke and National Center for Advancing Translational Sciences, invited researchers to conduct study on rare neurological and neuromuscular diseases. In order to cope up with increasing prevalence of rare neurological diseases and geriatric population, pharmaceutical companies are actively participating in the development of drugs.
For instance, Neurological disorders, which include more than 1,000 conditions that disrupt the brain and nervous system, affect an estimated 100 million Americans, nearly one third of the US population.With the annual cost of neurological disorders already approaching $800 billion, new treatments that both modify and prevent neurological disease are more critical than ever.
There are currently 537 medicines in development for numerous, wide-ranging neurological disorders by America’s biopharmaceutical companies.These include 95 medicines for brain tumors, 92 for Alzheimer’s disease, 46 for chronic pain and many more impacting conditions ranging from multiple sclerosis to amyotrophic lateral sclerosis (ALS).
The results of this study are expected in mid-2020. Such increasing awareness and developments for rare neurological diseases are likely to boost the growth of the rare neurological disease treatment market in North America during the forecast period.
In 2019, the Alzheimer’s disease accounted for the largest market share in the North America rare neurological disease treatment market.Alzheimer’s disease is a progressive disease and a type of dementia, and the condition is characterized by eating and death of brain cells.
It is characterized by symptoms such as reduced thinking, memory loss, and lacking behavioral sense.These symptoms get worse over time and highly reduce the independently for daily routine.
The disease accounts for nearly 60% to 80% of all dementia cases.It is widely seen among the aging population.
An estimated 5.5 million people of all ages in the U.S. suffer from Alzheimer’s disease. Among these, about 5.3 million are 65 and older, and 200,000 are younger, with Alzheimer’s disease early onset. It is equivalent to 3.3 million people aged 65 and older in the U.S. who have Alzheimer’s disease and two million men. Among US adults, the 6th leading cause of death is Alzheimer’s disease.
In 2019, the biologics segment, held the most significant market share of the rare neurological disease treatment market by the drug type.This segment is also anticipated to be the fastest growing segment of the market in 2027, owing to the increasing neurological disorders, coupled with increasing robust hospital infrastructure and advancements in medicines, has enabled people for various treatments for the deadliest diseases.
Hence, the segment is anticipated to witness growth at a significant rate during the forecast period.
Some of the significant primary and secondary sources for cold plasma equipment included in the report are World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and National Institute of Health (NIH)
Read the full report: https://www.reportlinker.com/p05894575/?utm_source=GNW
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