Neurodegenerative Diseases Drugs Market Worth USD 62,786.2 Million at 7.2% CAGR Forecast by 2026

The rising prevalence of neurodegenerative diseases is expected to result in increased sales in the Global Neurodegenerative Diseases Drugs Market. Fortune Business Insights in a new study, titled “Neurodegenerative Diseases Drugs: Global Market Analysis, Insights and Forecast, 2019-2026” predicts that such life-threating diseases can adversely affect the mental and physical health of people. These diseases include Parkinson’s Disease, amyotrophic lateral sclerosis, multiple sclerosis, Huntington's disease, multiple system atrophy, and spinal muscular atrophy. Moreover, they directly attack the neurons of a human brain.

As per the report by Fortune Business Insights, the global market was valued at US$ 35,497.3 Mn in 2018 and is estimated to reach US$ 62,786.2 Mn by 2026. In addition to this, the global market is anticipated to expand at a CAGR of 7.2% throughout the forecast period.

Mayzent’s Recent FDA Approval Forecast to Enable Growth in Multiple Sclerosis Segment

In 2018, the multiple sclerosis segment accounted for 66.1% share in the global neurodegenerative diseases market. This segment is expected to maintain its dominance throughout the forecast years. Continuous governments support and mounting costs of drugs induce growth in this segment. Further to this, Novartis receives FDA approval for a drug called Mayzent in March 2019.

This drug is used for patients suffering from multiple sclerosis. Besides multiple sclerosis segment, spinal muscular atrophy segment is anticipated to witness incremental growth by 2026. Launch of a new drug called SPINRAZA and its limited competition is the primary factor responsible for positively impacting the segment’s growth.

Among regions, North America is anticipated to dominate the global market owing to rising R&D investment and favorable healthcare reimbursement policies

Hoffmann-La Roche and Biogen Together Account for the Maximum Share as per Revenue

In 2018, Biogen emerged as the leading player in the global neurodegenerative diseases market. This is attributable to the rising sales of Tecfidera and launch of SPINRAZA. The company has also gained from an increasing number of strategic partnerships to expand its drug distribution. F. Hoffmann-La Roche Ltd. is the second- most leading company in the global market owing to the launch of two drugs called Madopar and Ocrevus.

Apart from these companies, Novartis AG is also expected to gain considerable share on account of rising demand for Gilenya drug. Not only this, the company has recommended the use of Extavia drug to the National Institute for Health and Care Excellence or NICE in 2018. This recommendation was made to treat patients suffering from relapsing-remitting multiple sclerosis.

Some of the other leading players operating in the global market are Merck & Co., Inc., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Sanofi, UCB S.A, ACADIA Pharmaceuticals Inc., Orion Pharma, Mitsubishi Tanabe Pharma Corporation, and H. Lundbeck A/S.

Adamas Pharmaceuticals Conducts Phase 3 Clinical Trial to Treat Multiple Sclerosis Patients

According to a study conducted by the European Parkinson’s Disease Association, over 1.2 million people in Europe have Parkinson’s disease and this number is estimated to double by 2030. As per the European Multiple Sclerosis Platform or EMSP, around 762,760 people in Europe were living with multiple sclerosis in the year 2015. The demand for neurodegenerative treatment drugs is increasing as these diseases are likely to advance with age. Rising geriatric population is expected to escalate the neurodegenerative diseases drug use during the forecast period.

This will further enhance the neurodegenerative diseases in drug development. For instance, Adamas Pharmaceuticals is conducting phase 3 clinical study on an investigational amantadine agent called ADS-5102. This is primarily for treating patients suffering from multiple sclerosis. Active support and research grants from governments are surging demand for neurodegenerative disease treatment.

Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/neurodegenerative-diseases-drugs-market-100661

The Global Neurodegenerative Diseases Drugs Market can be segmented into the following categories: