Asia Pacific Neurodegenerative Disease Market

Market Overview

The worldwide neurodegenerative disease market size was estimated at USD 40,125 million in 2021, and it is predicted to reach USD 53,275 million by 2030, recording a CAGR of 3.2% during the forecast period (2022–2030).

In most cases, neurodegenerative disorders are characterised by gradual nerve cell degeneration that can occur in a variety of locations across the body. Loss of memory and cognitive control are potential outcomes of a number of conditions, including Alzheimer's disease, Parkinson's disease, attention deficit hyperactivity disorder (ADHD), and amyotrophic lateral sclerosis (ALS).

Although there are very few diseases that can be cured, the pharmaceutical industry has developed a variety of treatments throughout the years that aim to alleviate the symptoms of neurodegenerative ailments.

Neurodegenerative disorders are a varied group of ailments defined by the gradual degradation of the function and structure of the central nervous system or peripheral nervous system. Neurodegenerative disorders, including Parkinson's Disease, Alzheimer's Disease, Multiple Sclerosis, and Huntington's disease, have been rising globally. Thus, the growing burden of this condition is the key driver driving the market expansion, adding to it the expanding elderly population. According to NIH, nearly 1.2 million people in the United States will have Parkinson's disease by 2030. In the United States, it is the second most frequent neurodegenerative disorder.

Furthermore, according to Alzheimer's Disease International, more than 50 million adults with dementia globally in 2020. This number is anticipated to be more than double every two decades, reaching 82 million in 2030 and 152 million in 2050. Additionally, much of the increase will be in emerging countries. About 60% of persons with dementia reside in poor and middle-income nations, but by 2050, this will climb to 71% . The fastest rise in the senior population has happened in China, India, and South Asian and western Pacific countries. Thus, the growing burden of dementia is likely to enhance the market growth in the approaching years.

APAC: 13520 million USD (2030 value); CAGR: 5.02%

Market Dynamics

Industry Drivers

Demand in the Asia Pacific neurodegenerative disease market is being driven in large part by a variety of reasons, the most important of which are the growing elderly population and the rising incidence of neurological and Parkinson's diseases. A number of factors are contributing to the expansion of the Parkinson's disease treatment market in Asia and the Pacific region. These factors include the creation of unique and cutting-edge treatment methods as well as the rising demand among patients for less invasive surgical procedures.

The growing awareness of the importance of healthcare among the general population is also contributing to the acceleration of the growth rate of the neurodegenerative disease treatment market in the Asia Pacific region. The presence of prominent industry players as well as an expanding number of manufacturers is another factor that is helping to the expansion of the Parkinson's disease treatment market in the Asia-Pacific region.

It is anticipated that an expanding proportion of the elderly population and an ever-increasing patient base will contribute to an increase in the demand for Parkinson's therapies and an expansion of the prospects for growth available to market participants in the APAC region. It is anticipated that the increasing focus on research and development activities by private and public organisations for the purpose of developing novel and innovative treatment methods as a result of enormous advancements in healthcare will be creating more opportunities for growth in the market over the course of the forecast period. Emerging economies in developed and developing countries such as India, China, Japan, and others in the Asia Pacific region are expected to create lucrative opportunities for market players in the region during the forecast period. This is because India, China, Japan, and others in the region are located in the Asia Pacific region. It is anticipated that the expiry of the patents on a number of well-known medications would present attractive prospects for the leading competitors in the Asia Pacific market for the treatment of neurodegenerative diseases.

Industry Restraints

The Neurological illness treatment market in this region has major obstacles in the form of stringent regulatory laws and policies, which are the primary factors holding back the market's growth pace.

The expansion of the market for Parkinson's disease treatments in Asia and the Pacific is being hampered by unfavourable reimbursement rules. The accessibility of different therapies poses a significant barrier to the expansion of the neurodegenerative disease treatment market in Asia Pacific. As a result, this barrier is anticipated to act as a restraint on the market throughout the course of the forecast period.

Regional Analysis

The incidence of cerebrovascular and neurodegenerative illnesses in Asia is the highest it is anywhere in the globe, out of more than 600 different neurological conditions.

Ischemic strokes and transient ischemic attacks (also known as TIAs) are two types of cerebrovascular illnesses that are far more prevalent in Asia, notably in South and certain areas of Southeast Asia, than they are in Europe or North America. In India and Indonesia, stroke is the main cause of death, accounting for between one-third and one-fifth of all premature deaths in those nations respectively. In the United States, stroke is the third greatest cause of death overall. A research that was conducted in 2015 by the Indian Academy of Neurology found that there are more than 1.8 million people in the nation who are coping with the aftereffects of having a stroke. This pattern can be explained in large part by the prevalence of risk factors in the region, which include hypertension, high cholesterol, diabetes, and cigarette smoking. As a result of an increase in the population's awareness of the need of maintaining a healthy lifestyle, the incidence of cerebrovascular disorders has decreased over the past decade in high-income nations such as Japan, Korea, Taiwan, and Singapore.

As a result of the rapidly increasing elderly population in many Asian nations, neurodegenerative illnesses have been on an upward trend for some time. At the moment, more than one-quarter of the population in Japan is over the age of 65, while other nations such as Korea, China, Taiwan, and Singapore are all predicted to suffer accelerated ageing in the near future. A research that was published in 2016 in the Journal of Internal Medicine found that Alzheimer's Disease (AD) is the most frequent form of neurodegenerative dementia in Asia, accounting for more than 60% of all cases. The number of people living with Alzheimer's disease is projected to be 7 million in China, 4 million in India, and 1.5 million in Japan. Although the prevalence of Parkinson's Illness (PD) in Asia is slightly lower than that in Europe or North America, it is still the second most frequent kind of neurodegenerative disease in the region.

There has been a significant drop in the prevalence of neuroinfectious illnesses throughout Asia; nonetheless, diseases such as paragonimiasis and Japanese encephalitis can still be found in rural and warmer areas. Although the number of people diagnosed with brain and central nervous system tumours is still relatively low when compared to other types of cancer, the incidence of these diseases has been progressively rising.

Segmental Analysis

The Asia Pacific neurodegenerative diseases market is segmented according to the kind of indication, the type of medicine, and the geography.

Parkinson's disease, Alzheimer's disease, multiple sclerosis, Huntington's disease, and other indication types make up the market for neurodegenerative diseases. Various indication types include other Asia Pacific neurodegenerative diseases market. Multiple sclerosis was the most lucrative sector of the market in 2021, bringing in a total of USD 25,680 million in sales. It is anticipated that it would reach USD 29,360 million by the year 2030, recording a CAGR of 1.5% over the duration of the prediction.

The number of people living with multiple sclerosis has risen in every region of the world. It is anticipated that the overwhelming majority of multiple sclerosis cases throughout the world will drive market growth. In addition, another key growth aspect is the growing interest of businesses in the items that are in the pipeline, as well as the comprehensive product approvals. For example, in October 2019, the United States Food and Drug Administration granted approval for the treatment of relapsing forms of multiple sclerosis (MS) to Vumerity (diroximel fumarate), an oral fumarate formulation of the drug. This approval covers clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.