Global Rare Neurological Disease Treatment Market Report 2023: Promising Pipeline Drugs for Treatment of Rare Neurological Diseases Drives Growth
DUBLIN, April 27, 2023 /PRNewswire/ -- The "Rare Neurological Disease Treatment Market - Growth, Trends, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The Rare Neurological Disease Treatment Market is expected to register a CAGR of 8.6% during the forecast period.
Companies Mentioned
- US WorldMeds LLC (Solstice Neurosciences LLC)
- CSL Ltd
- Merz Pharma GmbH & Co. KGaA
- Aquestive Therapeutics Inc.
- Kedrion Biopharma Inc.
- Bayer AG
- Pfizer Inc.
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Biogen Inc.
- F. Hoffmann - La Roche Ltd
- Merck & Co. Inc. (EMD Serono Inc.)
Rare Neurological Disease Treatment Market Trends
The Small Molecules Segment is Expected to Hold a Major Share in the Rare Neurological Disease Treatment Market
A small molecule is a drug that can enter cells quickly due to its low molecular weight. The segment holds a significant share of the rare neurological disease treatment market and is anticipated to show a similar trend over the forecast period due to the higher cost of biological drugs.
According to a research article published in August 2021 in Neurotherapeutics Journal, small molecules can be used to treat genetic epilepsies and rare or ultrarare genetic epilepsy. The advantage of the small molecules is their size, which allows access to extracellular and intracellular targets for modulation of discrete protein functions, such as ion channel gating.
These substances can also be made more quickly, in large numbers, and at an economical cost, making them useful for developing medicines for rare disorders in the upcoming years. Such research studies are likely to create opportunities and increase the demand for small molecules to develop rare neurological diseases.
Furthermore, as per an article published Orphanet Journal of Rare Diseases in March 2021, the survey on research priorities was designed by the ERN for Rare Neurological Diseases (ERN-RND) working group on research and registries. In this, both patient representatives and healthcare professionals were asked to prioritize five research themes for rare neurological diseases, as patient involvement in research increases the impact of research and the likelihood of adoption in clinical practice. Such studies will raise awareness regarding rare diseases, leading to high demand for small-molecule treatment options.
Moreover, with the help of collaborations among market players, the segment's growth is mainly contributed to the research and discovery of small molecules for rare neurological diseases.
Hence, increasing incidences of rare neurological diseases worldwide, increasing focus on fast-track approvals, technological advancements, and growing awareness regarding early diagnosis of rare neurological diseases are the key factors driving the small molecules segment.
North America is Expected to Hold a Significant Market Share Over The Forecast Period
North America is expected to hold a significant share of the rare neurological disease treatment market due to the availability of reimbursement for the treatment of rare diseases, the growing incidence of rare neurological disorders, and increasing research and development (R&D) in the region.
As per the Orphanet report published in January 2022, according to a StatPearls article updated in March 2022, approximately 350 cases of Creutzfeldt-Jakob disease (CJD) are diagnosed annually in the United States. Sporadic CJD is the commonest form of human prion disease, and the mean age of onset is 61 years. Thus the high prevalence in the region is expected to propel the demand for the rare neurological disease treatment market during the forecast period.
In addition, the strategic initiatives by market players, such as product launches, approvals, collaborations, and partnerships, contribute to the studied market's growth. For instance, in December 2021, Novartis received approval from the US FDA for Fast Track designation for branaplam (LMI070) to treat Huntington's disease (HD). The product launches and approvals are expected to propel the market in the region during the forecast period.
Moreover, increasing healthcare spending on R&D and the presence of well-established healthcare infrastructure are fueling the growth of the overall regional market to a large extent.
For instance, as per the National Institutes of Health (NIH) RePORT 2022 update, the research spending for Huntington's disease was USD 49 million in 2020 and USD 46 million in 2021. The estimated R&D spending on Huntington's disease is USD 48 million in 2022 in the United States. The high expenditure on rare neurological disease is expected to augment the market growth in the region during the forecast period.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Rare Neurological Diseases
4.2.2 Promising Pipeline Drugs for Treatment of Rare Neurological Diseases
4.2.3 Favorable Government Policies Worldwide for Speeding up Diagnostic Processes
4.3 Market Restraints
4.3.1 High Cost of Rare Neurological Disease Treatment
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Drug Type
5.1.1 Biologics
5.1.2 Small Molecules
5.2 By Mode of Administration
5.2.1 Intravenous
5.2.2 Oral
5.3 By Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/cv2y17
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