Neurodegenerative Disease Treatment MarketSize and Trends

The global neurodegenerative disease market was valued at US$ 41,224.6 Mn in 2022 and is forecast to reach a value of US$ 52,768.3 Mn by 2030 at a CAGR of 3.18% between 2023 and 2030. The neurodegenerative disease market is experiencing strong growth owing to the rise in prevalence of neurodegenerative diseases and rise in geriatric (aging) population around the world. Moreover, Increase in demand for safe/effective therapeutics and increasing awareness among people about neurodegenerative disease and available therapeutics is expected to boost the growth of the market. However, stringent regulatory guidelines and patent expiry of neurodegenerative disease treatment products are expected to hamper growth of the market.

Global Neurodegenerative Disease Market: Regional Insights

Based on geography, the global neurodegenerative disease market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Global Neurodegenerative Disease Market Trends:

Increase in research and development (R&D) is a recent trend

Increase in prevalence of neurodegenerative disease across the globe has increased the demand for safe, effective therapeutics worldwide. Various researches are underway worldwide to find novel therapies for neurodegenerative disorders, showing a promising and potential future. Players in the market as well as several governments are focusing on bringing their discoveries closer to clinical application, as well as focusing on launching novel therapeutics. This trend is expected to continue over the forecast period, driving the growth of the market.

Expanding therapeutic applications is another trend

With the expanding therapeutic applications of brain monitoring devices, demand for non-invasive and minimally invasive devices is also increasing with the rapid pace. For instance, use of wearable brain sensors help differentiate cognitive states in many neurodegenerative conditions. Nowadays, wireless headsets allow readings to be done in a completely non-invasive way and in some cases, assess patients from the comfort of their homes. This trend is also expected to continue during the forecast period, driving the growth of the market.