Subject: MRR
Neurodegenerative Disease Therapeutics Industry Expected to Reach USD 28.15 billion by 2030 - Grand View Research, Inc.
SAN FRANCISCO, March 21, 2023 /PRNewswire/ -- The global neurodegenerative disease therapeutics industry size amassed USD 8.33 billion in 2021 and will exhibit a CAGR of around 15.6% from 2022 to 2030, according to the "Neurodegenerative Disease Therapeutics Industry Data Book, 2023 - 2030" published by Grand View Research. Robust demand to create high-efficacy treatments for multiple sclerosis has augured well for companies seeking to bolster their footprint. Besides, researchers and drug development companies have gained confidence from drug approvals. For instance, the U.S. FDA approved Uplinza and Enspryng in 2020, taking the total tally of FDA-approved therapies to three for neuromyelitis optica spectrum disorder. The prevalence of neurodegenerative diseases, including Parkinson's disease (PD) and Alzheimer's disease (AD), has furthered the demand for therapeutics.
Cutting-edge technological advancements to foster the development of neurodegenerative disease treatment are expected to underpin Parkinson's disease treatment solutions. An uptick in the number of people who have Parkinson's disease (PD) across the U.S. has expedited the demand for state-of-the-art treatment. According to the Parkinson's Foundation, almost 1 million people are living with PD in the U.S., which is likely to be pegged at 1.2 million by 2030. A 2022 study backed by the Parkinson's Foundation found that around 90,000 people are diagnosed with PD yearly in the U.S.
Industry participants anticipate medications, such as Carbidopa-levodopa and treatments, including MRI-guided focused ultrasound (MRgFUS), to gain prominence. The latter is a minimally invasive treatment that can help manage tremors. Meanwhile, Carbidopa-levodopa has received an impetus as the most effective PD medication passed into the brain and converted to dopamine. Parkinson's disease treatment market size garnered USD 4.29 billion in 2021, registering approximately 12.7% CAGR during the assessment period.
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Soaring cases of Alzheimer's disease (AD) have prompted forward-looking companies, health governing bodies and other stakeholders to emphasize state-of-the-art treatment solutions. According to the Alzheimer's Association, over 6 million Americans are affected with Alzheimer's; the number could surge to 13 million by 2050. Strikingly, the onslaught of the COVID-19 outbreak led to a 17% rise in deaths due to Alzheimer's and dementia in 2020.
Precision medicine has received traction that can boost the body's immune system to produce antibodies to attack the protein that can expedite AD. In August 2022, Johnson & Johnson expressed contemplation in joining forces with AC Immune to develop a possible treatment to offset the protein?pTau?and slow disease progression. Moreover, medicine approvals and R&D activities have boded well for the industry growth. For instance, Mayo Clinic asserts that lecanemab, under review by the FDA, has depicted promising signs and could be available in 2023. The medicine reportedly slowed cognitive decline in people with early AD by 27% (in the phase 3 trial). The Alzheimer's therapeutics market size logged USD 4.04 billion in 2021 and could expand at 18.3% CAGR during the forecast period.
Some industry dynamics that could reshape the global landscape are highlighted below:
- Several researchers are exploring the use of artificial intelligence (AI) in brain-pacemaker surgery, including surgical targeting, patient selection and brain-pacemaker programming optimization.
- Cholinesterase inhibitors could gain traction to treat symptoms pertaining to language, memory, judgment, thinking and other thought processes by averting the breakdown of acetylcholine. Moreover, the combination of a cholinesterase inhibitor and a glutamate regulator could be used for moderate to severe AD.
- Asia Pacific is likely to witness bullish investments due to rising cases of PD and AD across China, Australia, Japan and India. According to ABS statistics and other reports, around 219,000 people are living with Parkinson's in Australia.
North America neurodegenerative disease therapeutics market share will be pronounced against the backdrop of rising morbidity and mortality due to PD and AD. Alzheimer's Association notes that in the U.S. one in 3 seniors succumbs to Alzheimer's or another dementia, killing more than prostate cancer and breast cancer combined. In addition, the prevalence of mild cognitive impairment (MCI) across the U.S. has compelled healthcare workers and other stakeholders to boost awareness campaigns and diagnose patients' cognitive impairment. The Association claims that around 10% to 15% of people with MCI develop dementia. Besides, bullish efforts for early diagnosis of the disease will solidify the position of companies gearing to reinforce their regional footprint.
The competitive landscape alludes to investments in organic and inorganic growth strategies, including R&D activities, technological advancements, innovations, collaboration and mergers & acquisitions. To illustrate, in July 2022, NRG Therapeutics (NRG) teamed up with Domainex to develop and enhance neurodegenerative disease treatment. Notably, NRG received a £2.68 million (roughly USD 3.2 million) award under the aegis of Innovate UK, a government-backed agency to propel research into Parkinson's disease treatment.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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