Global Neurodegenerative Diseases Therapeutics Market 2018-2022| Increase in Aging Population to Drive Growth| Technavio
Technavio’s global neurodegenerative diseases therapeutics market research report forecasts the market to grow at a CAGR of nearly 8% during the forecast period.
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Technavio predicts the global neurodegenerative diseases therapeutics market to grow at a CAGR of nearly 8% by 2022. (Graphic: Business Wire)
The increase in aging population will be one of the major trends in the global neurodegenerative diseases therapeutics marketduring 2018-2022. Globally, there is an increase in the aging population due to declining fertility and increasing longevity. Medicine has prolonged the morbidity phase. This has increased the risk of developing neurological disorders such as Alzheimer's disease and Parkinson's disease. As per the United Nations, around 962 million people globally were reported to be aged 60 years in 2017.
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According to Technavio analysts, one of the key drivers for the global neurodegenerative diseases therapeutics market is the strong drug development pipeline:
Global neurodegenerative diseases therapeutics market: Strong drug development pipeline
Globally, the prevalence and incidence of neurodegenerative diseases are increasing. For instance, according to the CDC, Alzheimer's disease affected around five million people in the US in 2014 and is expected to nearly triple to 14 million people by 2060. The major neurodegenerative diseases include Alzheimer's disease, Parkinson's disease, Huntington's disease, and multiple sclerosis.
According to a senior analyst at Technavio for research on infectious and rare diseases, “The incidence of Alzheimer's disease and Parkinson's disease has been increasing rapidly. Thus, ongoing developments in the market are focused on R&D, which has led to a strong drug development pipeline. There are several drugs in the pipeline that could contribute to the growth of the market during the forecast period.”
Global neurodegenerative diseases therapeutics market: Segmentation analysis
This global neurodegenerative diseases therapeutics market analysis report provides market segmentation by indication (multiple sclerosis, Alzheimer’s disease, Parkinson's disease, Huntington's disease, and others) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major segments by indication, the multiple sclerosis segment held the largest neurodegenerative diseases therapeutics market share in 2017, contributing to over 41% of the market. This segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 52% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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