Neurological Disorder Drugs Market Report 2024

The neurological disorder drugs market size has grown strongly in recent years. It will grow from $79.67 billion in 2023 to $84.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historical period can be attributed to increasing animal testing and obtaining promising results, an increase in therapeutic treatments, the rise in neurological problems, government initiatives, and a growth in healthcare expenditure.

The neurological disorder drugs market size is expected to see strong growth in the next few years. It will grow to $108.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to expanding therapeutic options and personalized therapies, a growing focus on disease-modifying treatments, the increasing use of digital biomarkers, and the rising prevalence of neurological diseases. Major trends expected during this period include advancements in drug design, improvements in neuroimaging, progress in genetic research, collaborations and licensing agreements, and the emergence of regenerative medicine.

The increasing prevalence of neurological diseases is expected to drive the growth of the neurological disorder drugs market. Neurological disorders, which affect the brain, spinal cord, and nerves due to structural, biochemical, or electrical abnormalities, lead to various symptoms. The rise in neurological diseases is attributed to the aging global population and greater exposure to environmental, metabolic, and lifestyle risk factors. Neurological disorder drugs are crucial in managing these complex conditions by relieving symptoms, slowing disease progression, and improving long-term patient outcomes. For example, a report by the UK Parliament in September 2021 indicated that the number of people waiting to begin neurology treatment increased to 140,482 in June 2021, up from 134,245 in May 2021. Consequently, the growing prevalence of neurological diseases is fueling the growth of the neurological disorder drugs market.

Major companies in the neurological disorder drugs market are focusing on developing innovative Ocrelizumab drug therapies to enhance treatment efficacy, improve patient outcomes, and expand therapeutic options for multiple sclerosis patients. Ocrelizumab is a humanized monoclonal antibody used to treat multiple sclerosis (MS), a neurological disorder. For instance, in February 2024, Roche Holding AG, a Swiss pharmaceutical company, launched Ocrevus (Ocrelizumab) in India as a new disease-modifying therapy (DMT) for multiple sclerosis. Ocrevus is the first and only approved DMT for both relapsing-remitting multiple sclerosis (RRMS) and primary progressive multiple sclerosis (PPMS), backed by over ten years of clinical and real-world data. This monoclonal antibody targets CD20-positive B cells, believed to play a role in the autoimmune attack on the central nervous system in MS. Ocrevus treats both RRMS and PPMS, making it the first drug approved for both forms of the disease. It is administered intravenously every six months and has shown efficacy in reducing disease activity and disability progression in clinical trials.

In October 2022, Pfizer Inc., a US-based pharmaceutical company, acquired Biohaven Pharmaceuticals for $11.6 billion. This acquisition aims to bolster Pfizer's innovative internal medicine pipeline and global reach in migraine treatments by acquiring Biohaven's breakthrough calcitonin gene-related peptide portfolio, including the approved NURTEC ODT and pipeline assets such as Zavegepant. Pfizer plans to deliver these innovative therapies to over one billion people worldwide affected by migraines. Biohaven Pharmaceutical is a US-based clinical-stage biopharmaceutical company that offers a range of neurological and neuropsychiatric disorder drugs.

Major companies operating in the neurological disorder drugs market are F. Hoffmann-La Roche Ltd, Bayer AG, Sanofi S.A, AstraZeneca PLC, Abbott Laboratories, Novartis AG, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company Pvt Ltd, Amgen Inc, Boehringer Ingelheim GmbH, Novo Nordisk A/S, Merck KGaA, Teva Pharmaceutical Industries Ltd, Otsuka America Pharmaceutical Inc, Biogen Inc, Bausch Health Companies Inc, Alexion Pharmaceuticals Inc., UCB S.A., Eisai Co Ltd, Cipla Inc, BioMarin Pharmaceutical Inc., Biocon Ltd, Acorda Therapeutics Inc.

North America was the largest region in the neurological disorder drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurological disorder drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the neurological disorder drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Neurological disorder drugs are medications used to treat conditions affecting the nervous system, including the brain, spinal cord, and peripheral nerves. These drugs aim to manage symptoms, slow disease progression, and improve the quality of life for individuals affected by these disorders.

The main drug classes for neurological disorders include cholinesterase inhibitors, N-Methyl-D-Aspartate (NMDA) receptor antagonists, antiepileptics, antipsychotics, antidepressants, and others. Cholinesterase inhibitors, for example, prevent the breakdown of acetylcholine, a neurotransmitter crucial for memory and cognitive function. These medications can be used for various conditions such as epilepsy, Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, cerebrovascular disease, and others. They can be administered orally, parenterally, or by other routes. Distribution channels include hospital pharmacies, retail pharmacies, online pharmacies, and others, with end users being hospitals, specialty clinics, home care settings, and more.

The neurological disorder drugs market research report is one of a series of new reports that provides neurological disorder drugs market statistics, including neurological disorder drugs industry global market size, regional shares, competitors with a neurological disorder drugs market share, detailed neurological disorder drugs market segments, market trends and opportunities, and any further data you may need to thrive in the neurological disorder drugs industry. This neurological disorder drugs market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The neurological disorder drugs market consists of sales of antiepileptic drugs, dopaminergic agents, cholinesterase inhibitors, immunomodulatory drugs, and antipsychotic drugs. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.