Rare Neurological Disease Treatment Market Grow Significantly, Product Types, Segmentation, Major Factors, Top Regions, Key Players Forecast 2027

Date

5/25/2020 3:33:02 PM

(MENAFN- iCrowdNewsWire) May 25, 2020

The rare neurological disease treatment market is expected to reach US$13,830.96 Mn in 2027 from US$ 7,300.12Mn in 2019. The market is estimated to grow with a CAGR of 8.5% from 2020-2027.

Neurological diseases having less diagnostics and treatment options affecting small number of population is termed as rare neurological diseases. These diseases target the nervous system, which include the brain, spinal cord, and all the nerves that run throughout the human body. Amyotrophic lateral sclerosis (ALS), Duchenne muscular dystrophy, Huntington's disease are few examples of rare neurological conditions. The global rare neurological disease treatment market is driven by factors such as rising prevalence of rare neurological diseases and favorable pipeline drugs and robust research activities for the treatment of rare neurological diseases. However, high treatment cost for rare neurological diseases are likely to show negative impact on market growth during the forecast period.

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Leading companies operating in the Rare Neurological Disease Treatment marketare Allergan plc, Bayer AG, GlaxoSmithKline plc, Johnson & Johnson Services, Inc, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi, Teva Pharmaceutical Industries Ltd and Takeda Pharmaceutical Company Limited, among others.

The global rare neurological disease treatmentmarket, based on the indication, is segmented into narcolepsy, amyotrophic lateral sclerosis, Alzheimer's disease, multiple sclerosis, and other indications.In 2019, the Alzheimer's disease segment accounted for the largest market share in the global rare neurological disease treatment market. The growth of Alzheimer's disease is attributed to an increasing prevalence of the disease across the world. According to the factsheet '2019 Alzheimer's Disease Facts and Figures' approximately 5.8 million people in the US suffer from Alzheimer's disease. The symptoms are widely seen in the geriatric group. Thus, the rising geriatric population across the globe is likely to influence market growth during the forecast period.

The rare neurological disease treatment marketfor is expected to grow, owing to factors such asgrowth rising prevalence of rare neurological diseases, and favorable pipeline drugs and robust research activities for the treatment of rare neurological diseases. Moreover, increasing awareness of rare neurological diseases coupled with developing healthcare infrastructureislikely to have a positive impact on the growth of the market in coming years.

Drug Type Insights

Based on drug type, the rare neurological disease treatment market is segmented into organic compounds, and biologics. The biologics segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period.

Distribution Channel Insights

Based on distribution channel, the rare neurological disease treatment market is segmented into online pharmacies, hospital pharmacies, and retail pharmacies. The hospital pharmacies segment held the largest share of the market in 2019 however, retail pharmacies is estimated to register the highest CAGR in the market during the forecast period.

Mode of Administration Insights

Based on mode of administration, the rare neurological disease treatment market is segmented into oral and injectable. The oral segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period

Strategic Insights

Product launches and FDA approvals strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is most commonly adopted by the market players in order to expand its product portfolio.

The market players operating in the rare neurological disease treatment market adopt the strategy of collaborations to enlarge customer base across the world, which also permits the players to maintain their brand name globally.

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The report segments global Rare Neurological Disease Treatment market as follows:

Global Rare Neurological Disease Treatment Market– By Indication

Narcolepsy
Amyotrophic Lateral Sclerosis
Alzheimer's Disease
Multiple Sclerosis
Spinal Muscular Atrophy (SMA)
Duchenne Muscular Dystrophy
Other Indications

Global Rare Neurological Disease Treatment Market– By Drug Type

Organic Compounds
Biologics

GlobalRare Neurological Disease Treatment Market– By Distribution Channel

Online Pharmacies
Hospital Pharmacies
Retail Pharmacies

Global Rare Neurological Disease Treatment Market – By Mode of Administration

Oral
Injectable

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