InsightAce Analytic's most recent study predicts that the global market for neurodegenerative diseases would be worth US$41.79 billion in 2021. It is anticipated to record a CAGR of 4.3% between 2022 and 2030.An umbrella term for a range of conditions that affect neurons in the human brain are referred to as neurodegenerative diseases. Neurons normally don’t replace or reproduce themselves, so when they become damaged or die, they cannot be replaced by the body. Neurodegenerative diseases are incurable and debilitating conditions that result in progressive degeneration and/or death of nerve cells. Degenerative nerve diseases include Alzheimer's disease, amyotrophic lateral sclerosis, Friedreich's ataxia, huntington’s disease, Lewy body disease, Parkinson's disease, spinal muscular atrophy.
The market of neurodegenerative disease is boosted by the rising awareness among people and the research and developmental activities undertaken by various research institutions and companies to develop effective therapies to treat them. However, the complex nature of the diseases and the lack of knowledge about their causative factors in most cases hamper the advancement of research and development into effective treatment methods. Current therapies only help to alleviate symptoms rather than curing. Due to rapidly increasing prevalence, Alzheimer's disease and Parkinson's disease pose to be the most challenging diseases. Entry of generics to the already existing products can be a challenge to the market. Reformulating marketed drugs shall provide great opportunities to the neurodegenerative disease market.
The Global market for neurodegenerative disease is fragmented into its drug class and indications. Based on the drug class, the global market is segregated into NMDA, dopamine inhibitors, and SSRIs. On the basis of indications, the market is categorized into Huntington disease, Alzheimer's disease, Parkinson's disease, spinal muscular atrophy, and amyotrophic lateral sclerosis. The market is also segmented based on the region Americas, the EMEA, and the APAC.
Some of the molecules under development include VY AADC is gene therapy from Voyager Therapeutics, which is in phase 2 stage of development for the treatment of Parkinson's disease, Crenezumab of Roche is in Phase 3 for Alzheimer’s disease, Gocovri, Ingrezza , Radicava are some of the products approved in 2017 for neurodegenerative diseases.
Some of the key players include Novartis, Pfizer, Merck Serono, Biogen Idec, TEVA, UCB, Boehringer Ingelheim, Sanofi, GlaxoSmithKline.
