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Strategic Analysis of World Emerging Neurological Therapeutics Markets
Frost & Sullivan, July 2004
Underserved Markets Present Significant Opportunities
Currently only a small number of pharmaceutical companies are manufacturing drugs for serious neurological disorders such as Alzheimers disease (AD), Parkinsons disease, and multiple sclerosis (MS). Despite some therapeutic advancement, room for improvement still exists in these largely underserved markets. Products on the market offer only short-term relief and, over time, the disease progresses to a stage where it fails to respond to any drug therapy. Therapies capable of slowing disease progression are in the late stages of clinical development and will be able to command a premium. With over 13 million people suffering from these neurological disorders and awaiting a breakthrough drug, the revenue potential for pharmaceuticals companies capable of providing therapies offering significant improvements over existing treatments is immense.
This strategic analysis offers insights into future trends in therapeutics markets for neurological disorders such as AD, MS, and Parkinsons disease. It studies the segments individually, evaluating each in terms of revenues, growth rates, trends, competition, and future market conditions while also offering revenue forecasts and growth analysis.
Alzheimers Disease Research Shows Promise in Controlling Disease Progression
AD is a condition affecting an estimated 8 million people worldwide, and with the increasingly aging population around the world, this disease is expected to affect millions more in the near future. Most AD drugs provide some relief in terms of either maintaining or slowing the progression of memory and cognition problems for short periods of time. Ultimately, however, the progression of the disease reaches the point where drug therapy fails to offer any relief.
Compounds in late stages of development which exhibit potential to not only improve memory and cognition but also to actually slow down or halt the progression of the disease are eliciting hope, says the analyst. A major step forward in the treatment of this disease is possible if these drugs prove successful.
Strong Growth Prospects for MS Drugs Despite Potential Saturation
The global market for MS therapies generated revenues of about $3.5 billion and grew by over 20 percent in 2003. Although the world market consists of only about 1 million patients, and individual segments show signs of saturation, it exhibits great potential for growth. There are currently about 14 Phase I to Phase III clinical trial programs underway and the market has attracted the interest of prominent and mid-sized pharmaceuticals companies.
Beyond the size of the market and escalating growth rates, there are also other factors attracting interest in the clinical development of MS therapies. The economic cost of MS in terms of lost wages and productivity is immense since it typically affects young adults and causes a lifetime of disability. With the discovery of newer and more effective therapies, the price of medications, which is considerably high, is likely to rise even further, and most drugs in development are years away from becoming marketable. However, these factors are not deterring companies from continuing to focus on this lucrative market. The future of treatment for AD, MS and Parkinson’s disease is expected to shift towards increasing use of combination therapy regimens, says the analyst. This is currently happening in all three markets and this practice is expected to continue, especially in the more advanced and harder to treat cases, he concludes.
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