Global Neurological Disorder Drugs Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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How Much Growth is Expected for the Neurological Disorder Drugs Market from 2024 to 2033?
The neurological disorder drugs market size has seen significant growth in recent years. It is expected to expand from $79.67 billion in 2023 to $84.60 billion in 2024, achieving a CAGR of 6.2%. This growth is driven by increased animal testing with promising results, more therapeutic treatments, a rise in neurological issues, government initiatives, and growing healthcare expenditures.
The neurological disorder drugs market size is forecasted to see substantial growth, reaching $108.05 billion by 2028, with a CAGR of 6.3%. This growth is attributed to the expansion of therapeutic options and personalized treatments, an increasing emphasis on disease-modifying therapies, the broader use of digital biomarkers, and the rising prevalence of neurological disorders. Major trends anticipated include innovations in drug design, advancements in neuroimaging, progress in genetic research, collaborations and licensing deals, and the emergence of regenerative medicine.
What Factors Are Encouraging Growth in the Neurological Disorder Drugs Market?
The growing prevalence of neurological diseases is projected to propel the neurological disorder drugs market. Neurological disorders affect the brain, spinal cord, and nerves due to structural, biochemical, or electrical abnormalities, resulting in various symptoms. The increase in these diseases is linked to an aging global population and greater exposure to environmental, metabolic, and lifestyle risk factors. Drugs for neurological disorders are crucial for managing these complex conditions, providing symptom relief, slowing disease progression, and improving long-term patient outcomes. For instance, a report by the UK Parliament indicated that the number of people waiting for neurology treatment rose to 140,482 in June 2021, up from 134,245 in May 2021. Therefore, the rising prevalence of neurological diseases is driving the neurological disorder drugs market.
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Which Segments Play a Vital Role in the Neurological Disorder Drugs Market?
The neurological disorder drugs market covered in this report is segmented –
1) By Drug Class: Cholinesterase Inhibitors, N-Methyl-D-Aspartate (NMDA) Receptor Antagonists, Antiepileptic, Antipsychotic And Antidepressant, Other Drugs Classes
2) By Indication: Epilepsy, Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, Cerebrovascular Disease, Other Indications
3) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Other Distribution Channels
5) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End Users
What Trends Are Driving Change in the Neurological Disorder Drugs Market?
Major companies in the neurological disorder drugs market are focused on developing Ocrelizumab therapies to improve treatment efficacy for multiple sclerosis. In February 2024, Roche Holding AG, a Swiss pharmaceutical company, launched Ocrevus, a new disease-modifying therapy for MS, approved for both relapsing-remitting and primary progressive forms of the disease.
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What Regions Are Contributing Significantly to the Growth of the Neurological Disorder Drugs Market?
North America was the largest region in the neurological disorder drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurological disorder drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Neurological Disorder Drugs Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the neurological disorder drugs market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Neurological Disorder Drugs Market Include
1. Neurological Disorder Drugs Market Executive Summary
2. Neurological Disorder Drugs Market Segments
3. Neurological Disorder Drugs Market Size And Template Market Growth Rate
4. Key Neurological Disorder Drugs Market Trends
5. Major Neurological Disorder Drugs Market Drivers
……
25. Key Mergers And Acquisitions In The Neurological Disorder Drugs Market
26. Top Neurological Disorder Drugs Companies
27. Neurological Disorder Drugs Market Opportunities And Strategies
28. Neurological Disorder Drugs Market, Conclusions And Recommendations
29. Appendix
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