The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The neurological disorder drugs market is experiencing significant growth, driven by an increase in neurological diseases, advancements in treatment options, and strategic industry moves. This blog will explore the current market size, future growth forecasts, major drivers, key players, and emerging trends.

Market Size and Growth Rate

2024 Market Size:

• The market for neurological disorder drugs is projected to grow from $79.67 billion in 2023 to $84.60 billion in 2024.
• CAGR: 6.2%, reflecting strong market momentum.

Growth Drivers:

• Increase in therapeutic treatments.
• Growth in neurological problems.
• Rising healthcare expenditures.
• Government initiatives.

Future Growth Forecast

2028 Market Size:

• Expected to reach $108.05 billion by 2028.
• CAGR: 6.3%, indicating sustained market growth.

View More On The Neurological Disorder Drugs Market Report 2024 – https://www.thebusinessresearchcompany.com/report/neurological-disorder-drugs-global-market-report

Key Factors:

• Expansion of personalized therapies.
• Growing focus on disease-modifying treatments.
• Increasing use of digital biomarkers.
• Continued prevalence of neurological diseases.

Emerging Trends:

• Advancements in drug design and neuroimaging.
• Progress in genetic research.
• Collaboration and licensing agreements.
• Emergence of regenerative medicine.

Market Drivers: Rising Neurological Disorders

Increasing Prevalence:

• Impact: Growing cases of neurological diseases, including Alzheimer’s, Parkinson’s, and multiple sclerosis, are major market drivers.
• Contributing Factors: Aging population, lifestyle changes, and environmental risk factors.

Market Role:

• Neurological disorder drugs are essential for managing complex conditions, relieving symptoms, and improving patient outcomes.

Key Players in the Global Market

Leading Companies:

• Pharmaceutical Giants: F. Hoffmann-La Roche Ltd, Bayer AG, Sanofi S.A, AstraZeneca PLC, Abbott Laboratories.
• Others: Novartis AG, GlaxoSmithKline plc, Takeda Pharmaceutical, Eli Lilly and Company, Amgen Inc.

Strategic Importance:

• These companies are at the forefront of drug development, market expansion, and innovation, driving the industry forward.

Trends in Neurological Disorder Drugs

Innovative Treatments for Multiple Sclerosis:

• Focus: Major companies are developing innovative drug therapies like Ocrelizumab for multiple sclerosis.
• Example: In February 2024, Roche launched Ocrevus (Ocrelizumab) in India, a treatment for both relapsing-remitting and primary progressive multiple sclerosis.
• Significance: This is the first drug approved for both forms of MS, showing efficacy in reducing disease activity and progression.

Mergers and Acquisitions: Strengthening Market Position

Pfizer’s Strategic Move:

• Acquisition: In October 2022, Pfizer acquired Biohaven Pharmaceuticals for $11.6 billion.
• Objective: Strengthen leadership in migraine treatments by gaining access to Biohaven’s calcitonin gene-related peptide portfolio.
• Impact: Enhances Pfizer’s internal medicine pipeline and global reach, targeting over 1 billion people affected by migraines.

Market Segmentation

By Drug Class:

• Cholinesterase Inhibitors, NMDA Receptor Antagonists, Antiepileptic, Antipsychotic, and Antidepressant.

By Indication:

• Epilepsy, Alzheimer’s, Parkinson’s, Multiple Sclerosis, Cerebrovascular Disease.

By Route of Administration:

• Oral, Parenteral, Other Routes.

By Distribution Channel:

• Hospital, Retail, Online Pharmacies.

By End-Users:

• Hospitals, Specialty Clinics, Homecare.

Regional Insights

North America:

• Market Leader: Largest region in the neurological disorder drugs market in 2023.
• Growth Factors: High healthcare expenditure, advanced research, and strong presence of key players.

Asia-Pacific:

• Growth Potential: Expected to be the fastest-growing region during the forecast period.
• Drivers: Increasing healthcare investments, growing awareness, and expanding market access.

Conclusion

The neurological disorder drugs market is on a robust growth trajectory, driven by rising neurological diseases, innovative treatment options, and strategic acquisitions. As the industry continues to evolve, key players and emerging trends will shape the future of neurological disorder treatments, offering hope for improved patient outcomes and expanding global market opportunities.

Request A Sample Of The Global Neurological Disorder Drugs Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=17207&type=smp