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Neurotherapeutic Drugs Market - Forecast(2024 - 2030)
Neurotherapeutic Drugs Market Overview
The Neurotherapeutic Drugs Market size is estimated to reach $112.3 billion by 2027, growing at a CAGR of 5.4% during the forecast period 2022-2027. Neurotherapeutic drugs market research involves reporting on the segments, drivers, challenges and competitive landscape related to the Neurotherapeutic Drugs Market. In the UK, Neurotherapeutics Solutions Ltd, a medical device firm, aims at neurological ailments with an initial focus on products to help inpiduals with Tourette Syndrome improve their condition without surgical or pharmaceutical interferences. In the U.S., some of the biggest key players are Abbott Laboratories, Inc. and Becton, Dickinson and Company. The increasing predominance of neurological conditions among the elderly is set to drive the Neurotherapeutic Drugs Market. The growing awareness of the Neurotherapeutic drugs market in the U.S. is set to propel the growth of the Neurotherapeutic Drugs Industry during the forecast period 2022-2027. This represents the Neurotherapeutic Drugs Industry Outlook.
Neurotherapeutic Drugs Market Report Coverage
The report: “Neurotherapeutic Drugs Market Report - Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Neurotherapeutic Drugs Market.
By Type: Peripheral Nervous System (PNS) Disorders, Autonomous Nervous System (ANS) Disorders, Central Nervous System (CNS) Disorders and Others.
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies and Online Pharmacies.
By Geography: North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest Of The World (the Middle East and Africa).
Key Takeaways
- Geographically, North America (Neurotherapeutic Drugs market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the principal technological progress in the Neurotherapeutic drugs market in the North American region, particularly the US.
- Neurotherapeutic Drugs Market research and growth are being driven by the expanding population of the elderly. However, certain side-effects related to surgical procedures and medications are some of the major factors hampering the growth of the Neurotherapeutic Drugs Market.
- Neurotherapeutic Drugs Market Detailed Analysis on the Strength, Weaknesses and Opportunities of the prominent players operating in the market would be provided in the Neurotherapeutic Drugs Market report.
Neurotherapeutic Drugs Market: Market Share (%) by Region, 2021
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Neurotherapeutic Drugs Market Segment Analysis - By Type
The Neurotherapeutic Drugs Market based on type can be further segmented into Peripheral Nervous System (PNS) Disorders, Autonomous Nervous System (ANS) Disorders, Central Nervous System (CNS) Disorders and Others. The Central Nervous System (CNS) Disorders Segment held the largest share of the Neurotherapeutic Drugs market in 2021. This growth is owing to the increasing predominance of central nervous system disorders like seizures and epilepsy. The surging application of CNS agents like antiparkinsonian drugs is further propelling the growth of the Central Nervous System (CNS) Disorders segment.
Furthermore, the Autonomous Nervous System (ANS) Disorders segment is estimated to grow at the fastest CAGR of 6.6% during the forecast period 2022-2027 owing to the increasing predominance of autonomous nervous system disorders which can happen alone or as the outcome of another ailment, like Parkinson's disease, alcoholism and diabetes.
Neurotherapeutic Drugs Market Segment Analysis - By Distribution Channel
The Neurotherapeutic Drugs Market based on distribution channels can be further segmented into Hospital Pharmacies, Retail Pharmacies and Online Pharmacies. The Hospital Pharmacies Segment held the largest share of the Neurotherapeutic Drugs market in 2021. This growth is driven by the surging availability of neurotherapeutic drugs in hospital pharmacies to treat neurological ailments. The increasing inclination of patients to instantaneously purchase neurotherapeutic medications from hospital pharmacies on the prescription of physicians is further propelling the growth of this segment. Furthermore, the Online Pharmacies segment is estimated to grow with the fastest CAGR of 6.9% during the forecast period 2022-2027 due to the soaring application of online pharmacies by patients to readily purchase the Neurotherapeutic Drugs required as prescribed by physicians right at the click of the mouse with home delivery options and discounted rates.
Neurotherapeutic Drugs Market Segment Analysis - By Geography
North America dominated the Neurotherapeutic Drugs market with a 39% share of the overall market in 2021. The growth of this region is owing to the increasing predominance of neurological ailments, boosting the neurotherapeutic drugs market in the U.S. The existence of key players like Abbott Laboratories, Inc. is further propelling the growth of the Neurotherapeutic Drugs Industry, thereby contributing to the growth of the Neurotherapeutic Drugs Industry Outlook, in the North American region. Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR over the forecast period 2022-2027. This growth is driven by the factors like the expanding healthcare facility upgrade in the Asia-Pacific region. The powerful economic growth in countries like India, China, Japan and Malaysia is further fueling the progress of the Neurotherapeutic Drugs Market in the Asia-Pacific region.
Neurotherapeutic Drugs Market Drivers
Surging Investigations Pertaining to NMDA Antagonists as Neurotherapeutic Drugs:
As per World Health Organization (WHO), in 2019, 301 million people were living with an anxiety ailment, involving 58 million children and teenagers. Antagonists of the N-methyl-D-aspartate (NMDA) subtype of glutamate (Glu) receptor have become the target of appreciable attention as potential neurotherapeutic agents in view of growing evidence showing NMDA receptors in acute central nervous system (CNS) injury syndromes like stroke, trauma and status epilepticus. Additionally, NMDA receptor antagonists are of possible interest for the clinical handling of neuropathic pain and averting the establishment of tolerance to opioid analgesics. The surging investigations pertaining to NMDA Antagonists as neurotherapeutic drugs are therefore fueling the growth of Neurotherapeutic Drugs Market Research during the forecast period 2022-2027.
Soaring Therapeutic Innovations in Neuroscience:
As per World Health Organization (WHO), 1 in every 8 people in the world lives with a mental ailment. Stephenson et al. examine whether and how creative trial designs and technologies can propel the progress of treatments for typical neurological ailments like Parkinson’s disease. These technologies include multiarm adaptive platform designs and digital health tools to supervise progression in rare ailments like Duchenne muscular dystrophy and amyotrophic lateral sclerosis (ALS). Novel platforms including data from finished clinical trials, registries, natural history investigations and preclinical data have been examined. The soaring therapeutic innovations in Neuroscience are therefore driving the growth of the Neurotherapeutic Drugs Industry, thereby contributing to the Neurotherapeutic Drugs Industry Outlook during the forecast period 2022-2027.
Neurotherapeutic Drugs Market Challenges
Scientific Challenges in Neurotherapeutic Pharmaceutical Development:
Generally, sales of CNS therapeutics include nearly 15% of total pharmaceutical sales and $30 billion, globally. Around two-thirds of these sales are for psychiatric treatments. The scientific challenges for therapeutics developers are high in neurotherapeutics. While the move is made from symptomatic treatments to mechanistically targeted cures, there is a battle to base development on fields of knowledge that are very quickly altering and far from complete. Also, the comprehension of the interactions between factors is fragmentary at best in such cases. Neurotherapeutics developers encounter unexpectedly great failure rates and enormous attendant expenses that must be covered by the tiny number of therapeutics that triumph. These issues are thus hampering the growth of the Neurotherapeutic Drugs Market.
Neurotherapeutic Drugs Industry Outlook
Novel and innovative device launches and expanding R&D activities are key strategies adopted by players in the Neurotherapeutic Drugs Market. The top 10 companies in the Neurotherapeutic Drugs market are:
- Abbott Laboratories, Inc.
- Becton, Dickinson and Company
- Novartis AG
- Johnson & Johnson
- Pfizer, Inc.
- Sanofi-Aventis
- Biogen, Inc
- GlaxoSmithKline, Inc.
- AstraZeneca plc
- Merck & Co.
Recent Developments
- In September 2021, Merck and Acceleron Pharma Inc. declared that the firms have entered into a definitive agreement. Under this agreement, Merck would gain Acceleron for $180 per share in cash. The acquisition completes Merck’s cardiovascular pipeline.
- In April 2021, Merck declared the successful finishing of the cash tender offer, by way of a subsidiary. This was performed for all of the outstanding shares of common stock of Pandion Therapeutics, Inc. As of the tender offer termination, 27,770,123 shares of the common stock of Pandion were validly tendered.
- In January 2021, Merck declared the acquisition of AmpTec. Based in Hamburg, Germany, AmpTec is a superior, mRNA contract development and manufacturing organization (CDMO). The deal consolidates Merck's capacities to establish and produce mRNA for its customers.
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