NEUROLOGICAL DISORDER DRUGS MARKET ANALYSIS

Market Challenges And Opportunities

Neurological Disorder Drugs Market: Drivers

Rising awareness associated with early disease diagnosis through awareness campaigns by government regulatory bodies and private organizations, and market entry of efficient drugs in the near future, owing to the presence of strong drug pipeline is expected to drive growth of the neurological disorder drugs market.

For instance, according to a report published by the Pharmaceutical Research and Manufacturers of America (PhRMA) in April 2018, there are currently 537 medicines in development by biopharmaceutical companies in the U.S for various neurological disorders. This mainly includes 95 medicines for brain tumors, 46 for chronic pain, and 92 for Alzheimer's disease. The other 30 are being developed for a range of conditions including multiple sclerosis, migraines, amyotrophic lateral sclerosis, and Parkinson's disease.

Furthermore, key players are engaged in gaining regulatory approval for neurological drugs, to expand its market presence. For instance, in April 2017, the U.S. Food and Drug Administration (FDA) approved Neurocrine Biosciences' Ingrezza (valbenazine), first drug to treat tardive dyskinesia in adults.

Furthermore, UCB S.A., a Belgium-based company involved in the research and development of antiepileptic drugs (AEDs), received European Commission (EC) approval for BRIVIACT (brivaracetam) as an adjunctive therapy for the treatment of partial-onset seizures with or without secondary generalization in adult and adolescent patients from 16 years of age with epilepsy.

Neurological Disorder Drugs Market: Restraint

Stringent and lengthy drug approval procedures, strict policies in prescribing sedatives for the treatment of neurological disorders, and slowdown in the development of drugs, owing to expensive research and development cost is expected to restrain the global neurological disorder drugs market growth over the forecast period.