The Neurodegenerative Disease Treatment Market is estimated to be valued at US$ 42,388.8 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Neurodegenerative diseases are progressive disorders that involve the deterioration of neurons. Some neurodegenerative diseases include Alzheimer's disease, Parkinson's disease, Huntington's disease, and Amyotrophic lateral sclerosis (ALS). Currently, there is no cure available and available treatment options are aimed at managing symptoms of the disease and improving quality of life. Over time, neurodegenerative diseases can severely damage areas of the brain involved with thinking, memory, and muscle control. Effective treatment and management is important.

Market key trends:
One of the key trends expected to drive the growth of the neurodegenerative disease treatment market is the rising prevalence of Alzheimer's disease. According to the Alzheimer's Association, Alzheimer's disease is the most common cause of dementia, accounting for approximately 60-80% of dementia cases. The number of people with Alzheimer's disease is expected to double by the year 2050, with the total number expected to reach around 13.8 million in 2050. Additionally, the risk of developing Alzheimer's disease doubles every 5 years after the age of 65. With an aging global population, the prevalence of Alzheimer's disease is expected to rise exponentially in the coming years, driving the demand for effective treatment and management drugs for neurodegenerative diseases.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate. The high capital requirement for R&D and manufacturing along with regulatory barriers pose hurdles for new players.

Bargaining power of buyers: The bargaining power of buyers is moderate to high. The availability of alternative treatment options provides bargaining power to buyers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitute raw material sources.

Threat of new substitutes: The threat of new substitutes is high due to ongoing research on alternative treatment approaches.

Competitive rivalry: Intense due to presence of major players.

SWOT Analysis

Strength: Wide range of product portfolio and extensive R&D capabilities. Weakness: High costs associated with drug development and regulatory requirements.

Opportunity: Growing geriatric population worldwide and increasing prevalence of neurodegenerative diseases. Untapped markets in developing countries.

Threats: Stringent regulatory framework. Risk of failure & side-effects of drugs in clinical trials. Patent expiration of blockbuster drugs.

Key Takeaways

The global neurodegenerative disease treatment market is expected to witness high growth, exhibiting CAGR of 3.1% over the forecast period, due to increasing prevalence of neurodegenerative disorders. North America dominates the market currently due to presence of major players and high healthcare spending.

Regional analysis- The market in Asia Pacific is expected to grow at the fastest rate owing to rising healthcare investments, increasing awareness, and growing geriatric population. Countries like China and India are expected to lucrative markets.

Key players operating in the neurodegenerative disease treatment market are Abbvie Inc., Amneal Pharmaceuticals Inc., Boehringer Ingelheim International Gmbh, F. Hoffmann-La Roche, and Merck & Co. Inc., among others. Major players are focusing on product launches, collaborations and acquisitions to strengthen their market presence.