According to The Insight Partners market research study of ‘Rare Neurological Disease TreatmentMarketto 2027 – Global Analysis and Forecasts by Indication, Drug Type, Distribution Channel, and Mode of Administration.’ The global rare neurological disease treatmentmarket 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. The report provides trends prevailing in the global rare neurological disease treatment marketand the factors driving market along with those that act as hindrances.
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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.
Leading companies operating in the Rare Neurological Disease Treatment market are 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.
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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.
Deprivation of sleep, psychological stress, an inherited genetic fault, sudden change in sleep patterns, and aging are the main factors that accelerate the prevalence of rare neurological diseases. Considering these factors, the elderly population is highly vulnerable for neurological conditions. For instance, as per the study published in Annals of Neurology in 2017, around 100 million US populations was affected by the rare neurological disease in 2011. Moreover, these diseases are responsible to increase the morbidity and disability, which affects the economic condition of the country. Neurological sleep related disorders are expected to increase in coming years owing to the increasing ageing population across the world. According to the data published by National Institute of Health (NIH) in 2019, approximately 40 million Americans suffer from neurological diseases in the US, whereas additional 20 million people experience occasional sleeping problems.
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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.
The report segments global Rare Neurological Disease Treatment market as follows:
Global Rare Neurological Disease Treatment Market– By Indication
- 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
GlobalRare Neurological Disease Treatment Market– By Distribution Channel
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
Global Rare Neurological Disease Treatment Market – By Mode of Administration
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