Because there is currently little to no money available for research on the pathophysiology of rare diseases and a dearth of representative patient population, most rare diseases lack adequate diagnostic and therapeutic protocols.The most prevalent kind of rare diseases, with inadequate diagnosis and treatment choices, is the rare neurological disease treatment sector. A rare neurological condition will be diagnosed in one out of every ten persons at some point in their lives, according to the WHO. The prevalence of neurological diseases is thought to be mostly determined by brain diseases, and the only method to avoid or lessen long-term morbidity and related healthcare expenditures is by early intervention. By 2032, the market is probably going to surpass US$ 19.795 million.
The Rare Neurological Disease Treatment Market stands at a pivotal juncture, propelled by groundbreaking research, increased awareness, and a growing commitment to address the unmet medical needs of individuals affected by rare neurological disorders. These conditions, often complex and debilitating, present unique challenges for patients, caregivers, and healthcare providers alike. However, recent advancements in molecular biology, genetics, and targeted therapies offer renewed hope for effective treatments and improved patient outcomes. Pharmaceutical companies, research institutions, and advocacy groups are collaborating to accelerate the development of innovative therapies tailored to specific neurological conditions, bolstering the pipeline of potential treatments. Additionally, initiatives aimed at streamlining regulatory processes and enhancing patient access to emerging therapies are further catalyzing progress in the field. As a result, the Rare Neurological Disease Treatment Market is witnessing a surge in investment, with forecasts indicating substantial growth and a promising horizon ahead.
New Drug Formulations and Initiatives toward Improving Treatment & Care of Patients to Influence Market Growth
Declining blockbuster drugs have led pharmaceutical companies to keenly investigate potential new areas of research & development. Drug manufacturers have been incentivized by the Orphan Drug Act to develop new drug formulations associated with treatment of various rare diseases such as rare neurological diseases, in a bid to introduce new treatment options to the market. Regulatory advantages such as breakthrough designations, longer market exclusivity, and reduced fees & tax incentives have encouraged investments in R&D of drugs related to rare neurological diseases.
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The world is entering into a new era, wherein science has realized the capability of aiding development of treatment & care for patients affected with rare neurological conditions. Several initiatives are being taken for coordinating efforts of pharmaceutical companies and healthcare institutes who share similar aim of improving treatment & care for patients suffering from rare neurological diseases.
For example, Brains for Brain Foundation, European Brain Council, LSD Patient Collaborative, and members of pharma industry are supporting an initiative in Europe which is expected to enhance visibility, awareness and recognition of rare neurological disorders for facilitating their early diagnosis. The initiative also aims to facilitate and promote collaboration and partnership between physicians, patient advocates, decision- & policy-makers, and researchers.
North America to Lead Global Rare Neurological Disease Treatment Market
North America is set to lead the global rare neurological disease treatment market, with an estimated revenue share of over 40% during 2017 to 2026. Economic and technological vigour, coupled with increasing geriatric population in the region, which is highly prone to such brain-related diseases, will influence demand for rare neurological disease treatment in North America.
The market revenue share of Europe and Asia-Pacific excluding Japan will also remain significant. However, combined revenues from the markets in these two regions will continue to be smaller than those amassed from the market in North America. Rare neurological disease treatment market in North America and Europe will record a parallel expansion through 2026, in terms of value.
Biologics to Remain Preferred Drug for Rare Neurological Disease Treatment
Biologics will continue to be the preferred drug for treatment of rare neurological diseases. Revenues from sales of biologics will account for the lion’s share of the market through the forecast period, based on drug type. However, revenues from sales of organic compounds for rare neurological disease treatment are forecast to record a relatively faster growth through 2026.
With an estimated market revenue share of nearly 60% during 2017 to 2026, Alzhiemer’s disease will continue to dominate the market, based on indication. In addition, revenues from treatment of this indication segment are likely to record the fastest rise in the market through 2026. Injectables will remain sought-after among mode of administration of drugs for treating rare neurological conditions.
Since the recent past, leading pharmaceutical companies have been placing more emphasis on rare disease, with tremendous support from the government. There is a greater likelihood that effective therapeutic measures for these life threatening rare diseases will be realized in the near future.
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Key Players:
- EMD Serono, Inc.
- Jazz Pharmaceuticals
- Teva Pharmaceutical Industries Limited
- Johnson & Johnson
- Sanofi
- Medtronic Plc
- Bayer Aktiengesellschaft
- Novartis AG.
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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