Fact.MR – A Market Research and Competitive Intelligence Provider: As per the insights by Fact.MR, the global rare neurological disease treatment market is set to expand by 2.3X, exhibiting a CAGR of over 8.5% over the forecast period 2018-2028.
Three Out of Every Ten Cases of Rare Neurological Disease Reported in North America, Pushing the Reason to Account for More than One Third of Treatment
The rare neurological disease treatment market study by Fact.MR offers compelling insights into key growth drivers and restraints impacting the market through 2031. The survey offers rare neurological disease treatment demand outlook and studies opportunities existing in key segments, including drug class and route of administration. It also highlights key strategies adopted by market players to increase rare neurological disease treatment sales.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per the insights by Fact.MR, the global rare neurological disease treatment market is set to expand by 2.3X, exhibiting a CAGR of over 8.5% over the forecast period 2018-2028.
The global rare neurological disease treatment market is primarily driven by the rising prevalence of rare diseases coupled with surging adoption of orphan drugs. Also, rapid developments in the healthcare sector are pushing demand for rare neurological disease treatments.
Among various routes of administration, the injectable segment is gaining traction and is forecast to total US$ 8.1 Bn between 2021 and 2031. Fact.MR has also found that due to high demand for patient friendly parenteral drug delivery systems and increasing number of surgical treatments, the demand in the injectable segment is grow exponentially in the coming years.
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Apart from these, manufacturers are focusing on investing in research and development activities as they seek to develop new therapies to offer improved patient care. As per Fact.MR, key industry players including Novartis AG, Pfizer Inc., and Johnson & Johnson Services, Inc. are expected to hold more than 50% of share in the global market.
Regionally, North America market is estimated to demonstrate a rapid growth owing to factors such as increasing investments in research and development activities coupled with focus towards expansion of healthcare infrastructure.
“Increasing cases of rare diseases coupled with rising spending on healthcare infrastructure is driving rare neurological disease treatment market growth. Besides this, leading manufacturers are focusing on strengthening their market footprint. Therefore, they are launching new product innovations to address the needs of patients,” says a Fact.MR analyst.
Key Takeaways from Rare Neurological Disease Treatment Market Survey
- North America is expected to emerge as a lucrative pocket. It accounted for over 2/5th of the market share in 2019.
- Driven by increasing focus on new product development, the Europe market for rare neurological disease treatment is anticipated to grow at a rapid pace over the assessment period.
- More companies are expected to shift focus towards Asia-Pacific, as developed markets slowly reach stagnancy.
- Based on drug class, the demand for biologics is forecast to expand at a CAGR of 7.5% through 2028.
- The global rare neurological disease treatment market surpassed the valuation of US$ 6.5 billion in 2019.
Key Drivers
- Growing prevalence of rare neurological diseases is contributing to the market growth.
- Gradual shift towards orphan drugs for the treatment of rare neurological diseases will create opportunities for growth.
Key Restraints
- High treatment cost of rare neurological disease is expected to hamper the market growth.
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Competitive Landscape
Rare neurological disease treatment manufacturers are undertaking strategic partnerships and acquisitions to gain an edge over other competitors.
For instance, in 2020, Biogen Inc announced the acquisition of a novel CNS-penetrant small molecule inhibitor of casein kinase 1 (CK 1), for the potential treatment of patients with behavioural and neurological systems across various neurological and psychiatric diseases from Pfizer Inc.
Some of the leading players operating in the rare neurological disease treatment market profiled by Fact.MR are:
- Novartis AG
- Pfizer, Inc.
- Johnson & Johnson Services, Inc.
- Bayer AG
- GlaxoSmithKline Plc
- Sanofi S.A.
- Allergan Plc
- Merck & Co., Inc.
More Valuable Insights on Rare Neurological Disease Treatment Market
Fact.MR, in its new report, offers an unbiased analysis of the global rare neurological disease treatment market, analyzing forecast statistics through 2021 and beyond. the survey reveals growth projections on rare neurological disease treatment market with detailed segmentation:
Drug Class
- Anti-depressants
- Anti-psychotics
- Cholinesterase Inhibitors
- Biologics
- Others (Anti-vertigo, Anti-seizure, etc.)
Route of Administration
- Injectable
- Oral
Disease Indication
- Alzheimer's Diseases
- Narcolepsy
- Multiple Sclerosis
- Amyotrophic Lateral Sclerosis
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies and Drug Store
- Online Pharmacies
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Key Questions Covered in the Rare Neurological Disease Treatment Market Report
- The market survey also highlights projected sales growth for rare neurological disease treatment market between 2021 and 2031
- The report offers insight into rare neurological disease treatment demand outlook for forecast period 2021-2031
- Rare neurological disease treatment market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Rare neurological disease treatment market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Explore Fact.MR’s Coverage on the Healthcare Domain –
Rare Neurodegenerative Disease Treatment Market- Market participants are increasing their investments in medication development for the treatment of neurodegenerative diseases, and patients are becoming more aware of the various therapeutic choices available. In the long run, the rise in medical tourism and investments in modernizing healthcare infrastructure across Asia Pacific's developing countries are projected to benefit the rare neurodegenerative disease treatment market. Long-term growth will be aided by advances in medical technology for the diagnosis and treatment of various ailments.
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Source: Fact.MR