Authored By: Sarah
11 Jul 2024

 Neurodegenerative Diseases Therapeutics Market Size to grow by USD 21290 million between 2024-2028

According to a research report “ Neurodegenerative Diseases Therapeutics Market” by Indication (Multiple sclerosis, Alzheimers disease, Parkinsons disease, Huntingtons disease, Others) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 21290 million, at a CAGR of  8.51% during the forecast period. The global prevalence and incidence of neurodegenerative diseases are on the rise, with neurological conditions accounting for a significant proportion of global illness and disability. Notably, by March 2024, over 1 in 3 people were affected by such conditions. Key neurodegenerative diseases include Alzheimer's disease, Parkinson's disease, Huntington's disease, and multiple sclerosis, with Alzheimer's and Parkinson's diseases experiencing particularly rapid growth. In the US alone, approximately 6.5 million individuals lived with Alzheimer's disease in 2023. Consequently, the neurodegenerative diseases therapeutics market is witnessing substantial investment in research and development. By 2024, there were around 164 clinical trials underway, assessing 127 potential drugs for Alzheimer's disease treatment. This robust drug development pipeline underscores the market's commitment to addressing the growing burden of neurodegenerative diseases.

Browse market data tables, figures, and in-depth TOC on “Neurodegenerative Diseases Therapeutics Market” by Indication (Multiple sclerosis, Alzheimers disease, Parkinsons disease, Huntingtons disease, Others) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Indication, the Multiple sclerosis segment is projected to dominate the market size in 2024

ai_market_segmentation_by

By Geography, North America  segment is expected to hold the largest market size for the year 2024

In the neurodegenerative diseases therapeutics market, multiple sclerosis (MS) represents a significant opportunity for key players. Notable drugs for MS treatment include Tecfidra, Aubagio, Lemtrada, Gilenya, and Tysabri. The global prevalence of MS is escalating, with approximately 1 million individuals in the US and 2.9 million people worldwide diagnosed in 2023. This rising trend necessitates continued research and development efforts from industry leaders to introduce novel MS therapies. Simultaneously, researchers focus on identifying individual risk factors to mitigate disease progression, thereby fueling market expansion during the forecast period.

North America is forecasted to hold the largest market size by region in 2024

The Neurodegenerative Diseases Therapeutics Market represents a significant business opportunity for pharmaceutical companies, with a growing demand for innovative treatments. This market is driven by the increasing prevalence of neurodegenerative diseases, such as Alzheimer's, Parkinson's, and Huntington's disease. Companies are investing heavily in research and development to bring novel therapies to market, focusing on disease-modifying treatments and symptomatic relief. The market is expected to grow at a robust rate, offering substantial returns for investors.

The Neurodegenerative Diseases Therapeutics Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AB Science SA
  • AbbVie Inc.
  • Acadia Pharmaceuticals Inc.
  • Biogen Inc.
  • F. Hoffmann La Roche Ltd.
  • H Lundbeck AS
  • Mitsubishi Chemical Corp.
  • Novartis AG
  • Sanofi SA
  • Teva Pharmaceutical Industries Ltd.
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

Neurodegenerative diseases, such as Alzheimer's and Parkinson's, continue to pose a significant challenge to the healthcare industry. While there is ongoing research for effective treatments and cures, the market for therapeutics in this sector remains a priority. However, let's take a break from medical jargon and discuss an unrelated yet intriguing topic: the advanced cleaning technology revolutionizing various sectors. Security systems, industrialization activities, and building constructions generate an immense amount of dirt and grime. Polishing glass surfaces and cleaning floors have become essential tasks to maintain a clean and hygienic environment. Floor cleaning robots with advanced sensors and robotic cleaners have become indispensable tools in the automatic cleaning industry. These devices employ a two-step cleaning process, using magnets for dust and suction for liquid spills. Window cleaning robots, equipped with advanced sensors and brushes, can clean hard-to-reach areas. Battery-powered sector robots offer compatibility with various floor types and come with remote control features. The suction mechanism sector, including brushes and wipers, ensures thorough cleaning. The residential sector also benefits from these advancements, with robotic vacuums offering convenience and efficiency.

Market Research Overview

Neurodegenerative diseases, such as Alzheimer's and Parkinson's, continue to pose a significant challenge to the healthcare industry. While research for effective therapeutics is ongoing, another industry making strides in innovation is the commercial and industrial cleaning sector. This sector is leveraging advanced technologies like cognitive technologies, data science, platform computing, and robotics to address environmental requirements, particularly in the context of maintaining glass surfaces and floors. For instance, car factories use high-pressure airflow and vacuum cleaners to remove dirt particles from glass surfaces, while pre-wetting and negative pressure systems help tackle water and debris. Weather conditions pose an impediment, but fan absorption and smart cleaning robots equipped with advanced sensors are overcoming these challenges. The residential sector is also embracing automation with floor cleaning robots and window cleaning robots, which use magnets, suction, and advanced sensors for a two-step cleaning process. Smart homes are integrating cleaning robots with virtual assistants, smart speakers, and interoperability features, making cleaning more efficient and convenient. However, safety features, cleaning modes, power source, and compatibility with various cleaning tools and systems are essential considerations for the automatic cleaning industry. Battery-powered sector, brushes and wipers, and suction mechanism sectors are crucial components of these advanced cleaning solutions. Despite these advancements, human labor remains a significant part of the cleaning industry, especially in the commercial section. The integration of AI technology, smart homes, and remote controller features can help reduce the workload and improve hygiene standards in hospitals and other public spaces. In conclusion, the cleaning industry is undergoing a technological revolution, driven by the need for efficiency, hygiene, and safety. The integration of cognitive technologies, data science, robotics, and IoT is transforming the industry, making it more accessible, convenient, and effective. However, safety features, compatibility, and power source considerations are crucial to ensure the success of these innovations.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio