According to FutureWise analysis the market for neurodegenerative drugs in 2023 is US$ 42.09 billion, and is expected to reach US$ 76.3 billion by 2031 at a CAGR of 7.72%.
Neurodegenerative diseases are characterized by progressive loss in the function and structure of neurons. Sometimes, this can also lead to the death of neurons. Neurodegeneration is a major cause. It occurs when toxic protein substances are deposited in the brain. This hinders the function and growth of mitochondria in your brain. Some neurodegenerative diseases can be caused by genetic mutations, such as Huntington's and spinocerebellar axias. Some neurodegenerative diseases can be caused by misfolded proteins. Intrinsic mitochondrial apoptotic pathway is a common factor in cell death during neurodegeneration, such as Amyotrophic Lateral Sclerosis. Alzheimer's disease results from the accumulation of misfolded proteins. Parkinson's disease is caused by an abnormal accumulation of protein alpha-synuclein bound with ubiquitin in damaged cells. Huntington's disease, a genetic disorder that causes nerve cells to die, is known as Huntington's disease. As medical technology improves for the detection and increasing demand for the treatment of neurological diseases, the market is expected to flourish. Neurological diseases are currently the most common cause of disability. The incidence of neurodegenerative diseases like Multiple Sclerosis (PD), Alzheimer's disease (MS), Huntington's disease (HD), and Parkinson's disease is expected to rise with the aging process.
The market is being held back by a lack of reimbursement policies from the government and hospitals to treat neurodegenerative diseases like Alzheimer's, Parkinson's, and Amyotrophic Lateral Sclerosis. The prevalence of neurological disorders is increasing worldwide due to an increase in the global population and a longer life expectancy. A broad term that describes a variety of neurological conditions that affect neurons in the brain, neurodegenerative disease can be used to describe a wide range of conditions. The gradual death of neurons is the result of neurodegenerative diseases. Alzheimer's disease (AD), a progressive disorder, causes brain cells to die and waste away. The market for neurodegenerative drugs worldwide will see lucrative opportunities in the future due to increased investment in research and development to develop new treatments. Multiple patent expiries are expected to limit the market for neurodegenerative diseases in the coming years. Over the next few decades, many innovative drugs will lose their patents. The already approved generic alternatives can be sold at a lower cost after expiration. The market value will be less if multiple generics are available with the same brand name. The market's overall value is being negatively affected by the increase in drug volume. However, generics are becoming cheaper.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Neurodegenerative Drugs Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Neurodegenerative Drugs Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.