Global Neurological Disorder Drugs Market Overview:
A neurological disorder is any medical condition that affects the nervous system which includes the brain, spinal cord, and other nerves. Problems with the structure or function of any part of the nervous system can lead to a neurological disorder. According to the World health organization, more than 6 million people die because of stroke each year; over 80% of these deaths take place in low- and middle-income countries. More than 50 million people have epilepsy worldwide. It is estimated that there are globally 47.5 million people with dementia with 7.7 million new cases every year - Alzheimer's disease is the most common cause of dementia and may contribute to 60–70% of cases. The prevalence of migraine is more than 10% worldwide Some of the key players profiled in the study are Novartis International AG (Switzerland), Johnson and Johnson (United States), GlaxoSmithKline (United Kingdom), Pfizer (United States), Amgen (United States), UCB (Belgium), Merck & Co (United States), Bayer (Germany), AstraZeneca and Boehringer Ingelheim (Germany).
On the basis of geography, the market of Neurological Disorder Drugs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Brick and Mortar Drug Stores will boost the Neurological Disorder Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Disorder, the sub-segment i.e. Parkinson’s Disease will boost the Neurological Disorder Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Adults will boost the Neurological Disorder Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Presence of large geriatric population suffering from neurological problems like Alzheimer's disease and Parkinson’s disease
- Increased awareness about available preventive drugs for diseases like dementia, epilepsy, multiple sclerosis and migraine, owing to advancements in drug technology
Market Trend
- The rise in usage of Artificial intelligence and Machine Learning in the current care of neurological disorders
Restraints
- Stringent government regulations for approval of drugs
Opportunities
- Breakthrough research in neurological disorders can provide pharmaceuticals companies with increased opportunities for their market growth
- Growing neurological disorders worldwide can provide emerging prospects for drug retailers
Challenges
- Research and development initiatives for drug formulations are expensive
- Provision of affordable drugs inconsideration with developing and underdeveloped countries
Major Market Developments:
In December 2019, The U.S. Food and Drug Administration approved Ubrelvy (ubrogepant) tablets for the acute (immediate) treatment of migraine with or without aura (a sensory phenomenon or visual disturbance) in adults and In November 2019, Philips launched Philips Intellispace Cognition, the digital, cloud-based assessment tool that takes established neuropsychological tests and enables their administration by a medical assistant via a tablet in an office setting
In June 2019, Pfizer acquired Array BioPharma expanding its operations in the United States
The Neurological Disorder Drugs market is highly fragmented with the presence of many players worldwide. Some of the leading players are adopting some organic and inorganic strategies such as a merger, acquisition, expansion, new product launches, among others in order to gain leading share within the market. There are scopes for expansion with the surge in new improved products being launched owing to technological advancements
Target Audience:
Pharmaceutical Companies, Pharmacy Chains/Drug Stores, Drug Suppliers/Traders, Drug Exporters/Importers, Investors, Regulatory and Government Bodies, Upstream Vendors, Downstream Vendors and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Neurological Disorder Drugs market on the basis of product [Antipsychotic, Antiepileptic, Anticholinergic, Analgesics, Hypnotic and Sedative, Antihypertensive, Anticoagulants and Others] , application [Hospital, Clinic and Home], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Neurological Disorder Drugs market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Neurological Disorder Drugs industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Neurocrine Biosciences (United States), Biogen (United States), Eli Lilly and Company (United States), Ionis Pharmaceuticals (United States), Adamas Pharmaceuticals (United States), BioMarin Pharmaceutical (United States), Otsuka America Pharmaceutical (United States) and AstraZeneca (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Neurological Disorder Drugs market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.