Rare Neurological Disease Treatment Market Size to Grow at 8.5% CAGR by 2027

Market trends are independently researched to provide qualitative analysis of its implications.

NEW YORK, UNITED STATES, February 20, 2023 /EINPresswire.com/ -- The Insight Partners Latest Research on "Rare Neurological Disease Treatment Market to 2027" Includes Global Analysis and Forecasts by Indication (Narcolepsy, Amyotrophic Lateral Sclerosis, Alzheimer's Disease, Multiple Sclerosis, Spinal Muscular Atrophy (SMA), Duchenne Muscular Dystrophy, Other Indication); Drug Type (Organic Compounds, Biologics); Distribution Channel (Online Pharmacies, Hospital Pharmacies, Retail Pharmacies); Mode of Administration (Oral, Injectables) and Geography

‘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 market and the factors driving market along with those that act as hindrances.

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Neurological diseases having less diagnostics and treatment options affecting small number of population is termed as rare neurological diseases. These diseases target the nervous system, which include the brain, spinal cord, and all the nerves that run throughout the human body. Amyotrophic lateral sclerosis (ALS), Duchenne muscular dystrophy, Huntington's disease are few examples of rare neurological conditions.

Market leaders operating in the market have undertaken various organic growth strategies in the rare neurological disease treatment market. The rare neurological disease treatment market majorly consists of the players such as 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. Several organic approaches, such as product launches, and expansion/relocation in the rare neurological disease treatment market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market. Similarly, utilizing expansion activities, it is easy to venture into untapped economies and use the opportunities being offered.

Below is the list of the growth strategies done by the players operating in the Rare Neurological Disease Treatment market:

Feb-20: Followed by U.S. Food and Drug Administration (FDA) approval for UBRELVY (ubrogepant), Allergan plc launched the product in 2020 for adults with acute migraine with or without aura

Jan-20: Charles River has entered a multi-year drug discovery collaboration with Takeda Pharmaceutical Co. to launch multiple integrated programs across Takeda’s four core therapeutic areas—oncology, gastroenterology, neuroscience, and rare disease—with the goal of delivering preclinical candidates that Takeda can advance into clinical development

Nov-19: Merck (MSD) has acquired small molecule therapies developer Calporta Therapeutics. The company develops small molecule agonists to treat lysosomal storage diseases and neurodegenerative disorders

Dec-19: Cerevance, a clinical stage biopharmaceutical company advancing new medicines for brain diseases, has formed a multi-year research alliance with Takeda Pharmaceutical Company Limited (“Takeda”) to identify novel target proteins expressed in the central nervous system and to develop new therapies

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The frequency of neurological disorders has increased significantly across the world. These disorders are estimated to affect over a billion population worldwide, according to the World Health Organization in 2016. Neurological disorders are commonly found among population, irrespective of the age groups, and geographic region. In the recent years, various measures have been implemented to generate awareness and educate the population regarding rare neurological diseases, which is facilitating patients to access the suitable medications and treatments for these conditions. According to National Center for Biotechnology Information 2017, clinician and public awareness of various neurological disorders with the intent of increasing rates of recognition and treatment.

Segments:

The global rare neurological disease treatment market, based on drug type, was segmented as organic compounds, and biologics. The biologics segment held the largest share of the market in 2019 and the same segment is anticipated to register the highest CAGR during the forecast period. Biologic segment offers novel therapies that provides innovative treatment options for patients. Also, biologics have shown positive results in the treatment of diseases such as Alzheimer's disease, multiple sclerosis, amyotrophic lateral sclerosis, Parkinson's disease. For instance, L-DOPA treatment is considered as a standard of care for patients, and it assists in managing the common motor symptoms, including tremors and dyskinesia in the patients of Parkinson's disease.

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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