The global neurodegenerative diseases drug market size growth is expected to derive growth from the rising prevalence of neurodegenerative diseases, especially among the aging population. Fortune Business Insights in a report, titled “Neurodegenerative Diseases Drugs: Global Market Analysis, Insights and Forecast, 2019-2026” offers valuable insights into the trends prevailing in the market. In 2018, the global market was valued at US$35,497.3 Mn and is projected to be worth US$ 62,786.2 Mn by 2026. At this pace, the global market is estimated to exhibit a healthy CAGR of 7.2% during the forecast duration.
The report provides a market analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
North America Dominates with Rising R&D Investments
In 2018, the North American market was valued at US$ 18,174.6 Mn and is anticipated to maintain its dominance throughout the forecast years. Neurodegenerative diseases have become more prevalent in the U.S. owing to an increasingly aging population. As per the Alzheimer’s Association, around 5.4 million Americans were suffering from Alzheimer’s in the year 2016. Moreover, this disease is more prevalent among people aged 65 years and above. As per research studies, approximately 30,000 people in the U.S. are projected to be suffering from another neurodegenerative disease called Huntington’s disease. As per a study conducted by the Parkinson’s Association in 2018, around 1.2 million people in the U.S are estimated to be suffering from Parkinson’s disease by 2030. With the continuous rise in population, this disease is projected to double between 2018 and 2026. Considering these numbers, the market is likely to grow in North America. This, coupled with favorable healthcare reimbursement policies and rising research and development (R&D) investments is driving the market in this region.
The market in the Asia Pacific is anticipated to report a considerable CAGR primarily on account of the rising geriatric population.
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Source: Medgadget
