According to a recent analysis by Future Market Insights, the Rare Neurological Disease Treatment Market would experience phenomenal growth between 2022 and 2032. By the end of 2032, revenues from the treatment of uncommon neurological illnesses are expected to surpass US$ 19.795.14 million.
According to a recent Future Market Insights report, the market for medications to treat rare neurological disorders will expand significantly over the next few years (2017-2026). Market revenues are projected to cross $12,000 Mn by the end of 2026.
New Drug Formulations and Initiatives toward Improving Treatment & Care of Patients to Influence Market Growth
Pharmaceutical companies are carefully examining potential new areas of research and development as a result of declining blockbuster medications. The Orphan Drug Act has encouraged pharmaceutical companies to create novel medication formulations for the treatment of numerous rare diseases, including uncommon neurological disorders, in an effort to expand the range of available therapies. Investments in the research and development of medications for uncommon neurological illnesses have been stimulated by regulatory benefits such breakthrough designations, extended market exclusivity, reduced fees, and tax incentives.
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The world is about to enter a new era in which science has realised its potential to support the development of therapies and care for people with unusual neurological diseases. To better treat and care for individuals with uncommon neurological illnesses, a number of steps are being taken to coordinate the activities of pharmaceutical companies and healthcare organisations.
For instance, the Brains for Brain Foundation, the European Brain Council, the LSD Patient Collaborative, and members of the pharmaceutical industry are supporting a project in Europe that aims to increase the visibility, recognition, and understanding of rare neurological disorders in order to aid in their early diagnosis. The project also intends to encourage and facilitate collaboration and partnerships between researchers, decision- and policy-makers, patient advocates, and physicians.
North America to Lead Global Rare Neurological Disease Treatment Market
With a projected revenue share of more than 40% from 2017 to 2026, North America is expected to dominate the global market for the treatment of uncommon neurological diseases. Demand for the treatment of rare neurological diseases in North America will be influenced by the region’s growing senior population, which is extremely susceptible to such brain-related ailments, as well as the region’s economic and technical vitality.
The market revenue share of Europe and Asia-Pacific excluding Japan will also remain significant. However, combined revenues from the markets in these two regions will continue to be smaller than those amassed from the market in North America. Rare neurological disease treatment market in North America and Europe will record a parallel expansion through 2026, in terms of value.
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Biologics to Remain Preferred Drug for Rare Neurological Disease Treatment
Biologics will continue to be the preferred drug for treatment of rare neurological diseases. Revenues from sales of biologics will account for the lion’s share of the market through the forecast period, based on drug type. However, revenues from sales of organic compounds for rare neurological disease treatment are forecast to record a relatively faster growth through 2026.
With an estimated market revenue share of nearly 60% during 2017 to 2026, Alzhiemer’s disease will continue to dominate the market, based on indication. In addition, revenues from treatment of this indication segment are likely to record the fastest rise in the market through 2026. Injectables will remain sought-after among mode of administration of drugs for treating rare neurological conditions.
Since the recent past, leading pharmaceutical companies have been placing more emphasis on rare disease, with tremendous support from the government. There is a greater likelihood that effective therapeutic measures for these life threatening rare diseases will be realized in the near future.
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FMI’s report identifies and tracks key players influencing expansion of the rare neurological disease treatment market that include:
- EMD Serono, Inc.
- Jazz Pharmaceuticals
- Teva Pharmaceutical Industries Limited
- Johnson & Johnson
- Sanofi
- Medtronic Plc
- Bayer Aktiengesellschaft
- Novartis AG.
Market Taxonomy Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Indication
- Alzheimer’s Disease
- Narcolepsy
- Multiple Sclerosis
- Amyotrophic Lateral Sclerosis
- Other Indications
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Drug Type
- Biologics
- Organic Compounds
Mode of Administration
- Injectables
- Oral
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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