Rare Neurological Disease Treatment Market Growth Insights to 2027 - Allergan, Bayer AG, GlaxoSmithKline, Johnson & Johnson Services

Publisher: The Insight Partners

Alzheimer’s disease Segment by indication is expected to grow at A Fast Pace over the Forecast Period

According to The Insight Partners market research study of ‘Rare Neurological Disease Treatment Market to 2027 – Global Analysis and Forecasts by Indication, Drug Type, Distribution Channel, and Mode of Administration.’ The global rare neurological disease treatment market is expected to reach US$ 13,830.96 Mn in 2027 from US$ 7,300.12Mn in 2019. The market is estimated to grow with a CAGR of 8.5% from 2020-2027. The report provides trends prevailing in the global rare neurological disease treatment marketand the factors driving market along with those that act as hindrances.

The global rare neurological disease treatment market, based on the indication, is segmented into narcolepsy, amyotrophic lateral sclerosis, Alzheimer’s disease, multiple sclerosis, and other indications. In 2019, the Alzheimer’s disease segment accounted for the largest market share in the global rare neurological disease treatment market. The growth of Alzheimer’s disease is attributed to an increasing prevalence of the disease across the world. According to the factsheet “2019 Alzheimer’s Disease Facts and Figures” approximately 5.8 million people in the US suffer from Alzheimer’s disease. The symptoms are widely seen in the geriatric group. Thus, the rising geriatric population across the globe is likely to influence market growth during the forecast period.

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Market Insights

Rising Prevalence of Rare Neurological Diseases

In the world of medicine, rare neurological diseases represent significant burden on health systems in terms of disease diagnosis, treatment, and management. Some of the majorly observed rare neurological diseases comprises narcolepsy, amyotrophic lateral sclerosis, Alzheimer’s disease, multiple sclerosis, spinal muscular atrophy (SMA), Duchenne muscular dystrophy, and others. According to a data published by National Institutes of Neurological Disorders and Stroke in 2019, 7,000 rare neurological diseases have been registered in the US. Additionally, according to the same study, these conditions are responsible for significant number of morbidity and mortality.

Deprivation of sleep, psychological stress, an inherited genetic fault, sudden change in sleep patterns, and aging are the main factors that accelerate the prevalence of rare neurological diseases. Considering these factors, the elderly population is highly vulnerable for neurological conditions. For instance, as per the study published in Annals of Neurology in 2017, around 100 million US populations was affected by the rare neurological disease in 2011. Moreover, these diseases are responsible to increase the morbidity and disability, which affects the economic condition of the country. Neurological sleep related disorders are expected to increase in coming years owing to the increasing ageing population across the world. According to the data published by National Institute of Health (NIH) in 2019, approximately 40 million Americans suffer from neurological diseases in the US, whereas additional 20 million people experience occasional sleeping problems.

Indication Insights

Based on indication, the rare neurological disease treatment market is segmented into narcolepsy, amyotrophic lateral sclerosis, Alzheimer’s disease, multiple sclerosis, spinal muscular atrophy (SMA), Duchene muscular dystrophy, and other indications. The Alzheimer’s disease segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period. The disease accounts for nearly 60% to 80% of all dementia cases and is widely seen among the aging population.

The rare neurological disease treatment marketfor is expected to grow, owing to factors such asgrowth rising prevalence of rare neurological diseases, and favorable pipeline drugs and robust research activities for the treatment of rare neurological diseases. Moreover, increasing awareness of rare neurological diseases coupled with developing healthcare infrastructureislikely to have a positive impact on the growth of the market in coming years.

Leading companies operating in the Rare Neurological Disease Treatment marketare Allergan plc, Bayer AG, GlaxoSmithKline plc, Johnson & Johnson Services, Inc, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi, Teva Pharmaceutical Industries Ltd and Takeda Pharmaceutical Company Limited, among others.

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