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Neurodegenerative Disease Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 139 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4591891
The neurodegenerative disease market was valued at approximately USD 40,127.01 million in 2021, and it is expected to register a CAGR of 3.24% over the forecast period.

The COVID-19 impact on the market was significant as the pandemic impacted the workflows of clinical trials, research and development activities, and pipeline products, leading to relatively slow growth during the pandemic despite the presence of a robust late-stage product pipeline. For instance, in April 2020, Biogen delayed Alzheimer’s drug filing to the Food and Drug Administration due to the complexity of data analysis and the impact of COVID-19 on its research and development studies. However, in January 2021, Biogen and Eisai Co. Ltd reported that the United States Food and Drug Administration had extended the review period by three months for the Biologics License Application for aducanumab, an investigational treatment for Alzheimer’s disease. Thus, owing to the aforementioned factors, the studied market witnessed a short-term decline in growth during the COVID-19 pandemic.

The major factors for the growth of the market include the rising prevalence of neurological disorders, increasing public awareness, and a strong product pipeline for neurodegenerative disease treatment. With the increasing global population and average lifespan, the prevalence of neurological disorders is on the rise worldwide. According to the World Alzheimer Report, in 2019, around 50 million people worldwide were reported to be suffering from Alzheimer's and related dementia, and this number is further expected to reach 152 million by 2050. Additionally, elderly people are a rapidly growing proportion of the world’s population. Also, as per the National Multiple Sclerosis Society, nearly 2.8 million people were living with multiple sclerosis in 2020, globally. According to World Population Prospects, 2019 statistics, by 2050, one in six people in the world will be over age 65, and at present, it is one in 11. By 2050, one in four persons living in Europe and Northern America could be aged 65 or over. The number of persons aged 80 years or over is projected to triple, from 143 million in 2019 to 426 million in 2050 globally.​ As the geriatric population is more prone to neurodegenerative diseases, the growing elderly population globally is expected to drive the growth of the market. Furthermore, the growing awareness among the population about neurodegenerative diseases and their treatment options are expected to drive the market growth. For instance, in 2020, the American Parkinson's Disease Association launched a new public service announcement that encourages viewers to look closer at Parkinson’s disease. This program was featured on national television and social media. Thus, the aforementioned factors are expected to aid in the growth of the studied market over the forecast period. However, stringent regulatory guidelines and patent expiry of neurodegenerative disease treatment products are the major factors that are anticipated to hinder the market growth.

Key Market Trends


The Alzheimer's Disease Segment is Expected to Witness Significant Growth Over the Forecast Period


Alzheimer's disease (AD) is a progressive disorder that causes brain cells to waste away (degenerate) and die. Alzheimer's disease is the most common cause of dementia, which is a continuous decline in thinking, behavioral, and social skills that disrupts a person's ability to function independently. The prevalence and mortality due to the disease are increasing globally. For instance, according to the 2021 Alzheimer’s Disease Facts and Figures report released by the Alzheimer's Association, it was estimated that in the United States, around 6.2 million people of age 65 and older were living with Alzheimer's dementia in 2021.
One in nine people aged 65 and older has Alzheimer's dementia, and about two-thirds of Americans with Alzheimer's are women. The high incidence of Alzheimer's disease is expected to have a positive impact on the studied segment growth. Additionally, the growing research and development activities and new product launches also aid in the growth of the segment. For instance, in January 2021, Eli Lilly and Company revealed the results of a study of Donanemab, an investigational antibody that targets a modified form of beta-amyloid called N3pG, which showed a significant slowing of decline in a composite measure of cognition and daily function in patients with early symptomatic Alzheimer's disease compared to placebo in results from its Phase 2 TRAILBLAZER-ALZ study. Thus, owing to the aforementioned factors, the Alzheimer's disease segment is expected to witness significant growth in the coming years.



North America Holds the Major Share in the Market, and It is Expected to Dominate the Market Over the Forecast Period


North America is the most significant region in the neurodegenerative disease market. According to the Parkinson's Foundation, nearly one million people were expected to be living with Parkinson's disease in the United States in 2020, which is more than the combined number of people diagnosed with multiple sclerosis, muscular dystrophy, and Lou Gehrig's disease. The number is expected to rise to 1.2 million by 2030. Approximately 60,000 Americans are diagnosed with Parkinson's disease each year, with a collective direct and indirect cost of Parkinson’s, including treatment, social security payments, and lost income, estimated to be nearly USD 52 billion per year in the United States alone. More than 10 million people worldwide are living with PD. Also, as per the January 2020 report of the Public Health Agency of Canada, it was found that more than 432,000 Canadians aged 65 and older are living with diagnosed dementia, including Alzheimer’s disease. Thus, the growing burden of neurodegenerative diseases in the region is expected to drive the market growth.

North America is expected to dominate the market due to the presence of a large number of drug manufacturers and the advancing paradigm of care for neurodegenerative disease patients, which is supporting the growth in this region. For instance, in February 2020, Merck & Co. Inc. received approval from the United States Food and Drug Administration (FDA) for an update to the prescribing information for BELSOMRA (suvorexant) C-IV to include findings on its use for the treatment of insomnia in patients with mild-to-moderate Alzheimer’s disease. The advancements in novel technology for the treatment of neurodegenerative diseases and a strong product pipeline for wasting syndrome have also helped the growth of the neurodegenerative disease market in the region. Thus, owing to the aforementioned factors, the studied market is anticipated to propel significantly in North America over the forecast period.



Competitive Landscape


The market studied is moderately competitive. The major players are involved in strategic alliances such as mergers and acquisitions, partnerships and collaborations, investments in research and development activities, and new product launches to withstand the global competitive rivalry. Some of the major market players are AbbVie Inc., Amneal Pharmaceuticals Inc., Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche Ltd, Merck & Co. Inc., Pfizer Inc., Teva Pharmaceutical, Novartis AG, and UCB SA.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Neurological Disorders
4.2.2 Increasing Public Awareness
4.2.3 Strong Product Pipeline for Neurodegenerative Disease Treatment
4.3 Market Restraints
4.3.1 Patent Expiry of Neurodegenerative Disease Treatment Products
4.3.2 Stringent Regulatory Guidelines
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 Indication Type
5.1.1 Parkinson's Disease
5.1.2 Alzheimer's Disease
5.1.3 Multiple Sclerosis
5.1.4 Huntington Disease
5.1.5 Other Indication Types
5.2 Drug Type
5.2.1 N-methyl-D-aspartate Receptor Antagonists
5.2.2 Cholinesterase Inhibitors
5.2.3 Dopamine Agonists
5.2.4 Immunomodulatory Drugs
5.2.5 Other Drug Types
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AbbVie Inc.
6.1.2 Amneal Pharmaceuticals Inc.
6.1.3 Boehringer Ingelheim International GmbH
6.1.4 F. Hoffmann-La Roche Ltd
6.1.5 Merck & Co. Inc.
6.1.6 Novartis AG
6.1.7 Pfizer Inc.
6.1.8 Teva Pharmaceutical
6.1.9 UCB SA
6.1.10 Biogen Inc.
6.1.11 Johnson and Johnson
6.1.12 Sanofi
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AbbVie Inc.
  • Amneal Pharmaceuticals Inc.
  • Boehringer Ingelheim International GmbH
  • F. Hoffmann-La Roche Ltd
  • Merck & Co. Inc.
  • Novartis AG
  • Pfizer Inc.
  • Teva Pharmaceutical
  • UCB SA
  • Biogen Inc.
  • Johnson and Johnson
  • Sanofi

Methodology

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