Allied Market Research Forecasts $74.80 Billion Neurodegenerative Drugs Market by 2031 with 7.5% CAGR

𝘛𝘩𝘦 𝘨𝘭𝘰𝘣𝘢𝘭 𝘮𝘢𝘳𝘬𝘦𝘵 𝘧𝘰𝘳 𝘯𝘦𝘶𝘳𝘰𝘥𝘦𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘷𝘦 𝘥𝘳𝘶𝘨𝘴 𝘪𝘴 𝘱𝘳𝘰𝘫𝘦𝘤𝘵𝘦𝘥 𝘵𝘰 𝘨𝘳𝘰𝘸 𝘪𝘯 𝘵𝘩𝘦 𝘶𝘱𝘤𝘰𝘮𝘪𝘯𝘨 𝘺𝘦𝘢𝘳𝘴. 𝘛𝘩𝘪𝘴 𝘨𝘳𝘰𝘸𝘵𝘩 𝘪𝘴 𝘥𝘳𝘪𝘷𝘦𝘯 𝘣𝘺 𝘵𝘩𝘦 𝘳𝘪𝘴𝘪𝘯𝘨 𝘪𝘯𝘤𝘪𝘥𝘦𝘯𝘤𝘦 𝘰𝘧 𝘤𝘰𝘯𝘥𝘪𝘵𝘪𝘰𝘯𝘴 𝘴𝘶𝘤𝘩 𝘢𝘴 𝘈𝘭𝘻𝘩𝘦𝘪𝘮𝘦𝘳’𝘴 𝘥𝘪𝘴𝘦𝘢𝘴𝘦, 𝘗𝘢𝘳𝘬𝘪𝘯𝘴𝘰𝘯’𝘴 𝘥𝘪𝘴𝘦𝘢𝘴𝘦, 𝘢𝘯𝘥 𝘮𝘶𝘭𝘵𝘪𝘱𝘭𝘦 𝘴𝘤𝘭𝘦𝘳𝘰𝘴𝘪𝘴, 𝘢𝘭𝘰𝘯𝘨𝘴𝘪𝘥𝘦 𝘪𝘯𝘪𝘵𝘪𝘢𝘵𝘪𝘷𝘦𝘴 𝘣𝘺 𝘣𝘰𝘵𝘩 𝘨𝘰𝘷𝘦𝘳𝘯𝘮𝘦𝘯𝘵𝘢𝘭 𝘢𝘯𝘥 𝘯𝘰𝘯-𝘨𝘰𝘷𝘦𝘳𝘯𝘮𝘦𝘯𝘵𝘢𝘭 𝘰𝘳𝘨𝘢𝘯𝘪𝘻𝘢𝘵𝘪𝘰𝘯𝘴.

Allied Market Research has released a report titled “Neurodegenerative Drugs Market by Drug Class (Dopamine Agonists, Decarboxylase Inhibitors, Cholinesterase Inhibitors, Immunomodulators, and Others), by Indication (Parkinson’s Disease, Alzheimer’s Disease, Multiple Sclerosis, and Others), and by Distribution Channel (Hospital Pharmacies, Online Providers, and Drug Stores & Retail Pharmacies): Global Opportunity Analysis and Industry Forecast, 2022-2031.” The report reveals that the global neurodegenerative drugs market generated $36.27 billion in 2021 and is projected to reach $74.80 billion by 2031, growing at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2031.

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Prime Determinants of Growth

The global neurodegenerative drugs market is poised for growth due to several factors, including the increasing prevalence of conditions such as Alzheimer’s, Parkinson’s, and multiple sclerosis. Efforts by both governmental and non-governmental organizations are also playing a crucial role in driving market expansion. The introduction of new drugs is expected to further contribute to this growth. However, the complexity of drug development for these diseases may pose challenges, potentially limiting market expansion. Despite these hurdles, opportunities abound as research and development activities in the field of neurodegenerative diseases continue to rise.

Immunomodulators Segment to Maintain Leadership

In terms of drug class, the immunomodulators segment dominated the market in 2021, comprising over 40% of the global neurodegenerative drugs market revenue. This segment is expected to maintain its leading position throughout the forecast period, driven by the increasing prevalence of autoimmune diseases like rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis. Meanwhile, the decarboxylase inhibitors segment is anticipated to exhibit the highest compound annual growth rate (CAGR) of 11.1% from 2022 to 2031, due to their efficacy in improving motor symptoms associated with Parkinson’s disease.

Multiple Sclerosis Segment to Maintain Dominance

Based on indication, the multiple sclerosis segment held the largest market share in 2021, accounting for more than 60% of the global neurodegenerative drugs market. This segment is expected to retain its dominance throughout the forecast period, driven by an aging population and a rising prevalence of multiple sclerosis. Conversely, the Parkinson’s disease segment is projected to achieve the highest CAGR of 9.1% from 2022 to 2031, fueled by an increase in Parkinson’s disease cases and a robust pipeline of treatment options.

Drug Stores & Retail Pharmacies to Lead Distribution Channels

Among distribution channels, drug stores and retail pharmacies accounted for nearly 60% of the market revenue in 2021 and are expected to maintain this lead during the forecast period. This growth is attributed to the easy availability of neurodegenerative drugs and an increasing number of drug stores. However, the online providers segment is projected to experience the fastest growth, with a CAGR of 10.0% from 2022 to 2031, driven by the rising trend of online shopping and discounts offered on neurodegenerative drugs.

North America to Maintain Dominance, Asia-Pacific to Witness Fastest Growth

Regionally, North America led the market in 2021, capturing more than 40% of the global neurodegenerative drugs market revenue. The region’s dominance is expected to continue, supported by a large patient population, significant presence of key players, easy drug availability, favorable reimbursement policies, and high adoption of advanced therapeutics. Meanwhile, the Asia-Pacific region is anticipated to witness the fastest CAGR of 9.2% from 2022 to 2031, spurred by increasing health awareness, advancements in healthcare infrastructure, and government initiatives for managing neurodegenerative diseases.

Leading Market Players: –

• Novartis AG
• AbbVie Inc.
• F. Hoffmann-La Roche Ltd.
• Teva Pharmaceutical Industries Ltd.
• Sanofi
• Orion Corporation
• Sun Pharmaceutical Industries Ltd.
• UCB S.A.
• Viatris Inc.
• Biogen

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