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 characterized 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.
Middle East & Africa: 1558 million USD (2030 value); CAGR: 1.62%
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Neurological disorders are characterized largely by their symptoms, and there are currently no treatment options that may cure these conditions. The major objective of treating neurodegenerative diseases is to maintain control over the signs and symptoms of the condition, which might include tremors in the hands, difficulty walking, and a general slowing of movement. The treatment plan for each individual is tailor-made to address their specific symptoms.
In the Middle East and Africa area, an expansion of the treatment market for neurodegenerative diseases is anticipated due to the rising prevalence of environmental factors and genetic inheritance. In addition, recent developments in the treatment of neurodegenerative diseases, such as combination therapies to extend the action of continuous dopaminergic stimulation drugs, approval for neurostimulation devices, neuroprotective therapies to slow disease progression, gene therapy, neural transplantation, and other developments, are anticipated to drive massive growth in the Middle East and Africa market for neurological disease treatments.
A year-over-year increase in the elderly population, which is anticipated to be aided by the rising prevalence of Parkinson's disease and another neurological disease, and which is anticipated to accelerate the market's growth rate during the forecast period in this region is expected to be one of the primary factors driving the market. Increasing investments in research & development lead to the creation of innovative therapies, which in turn is anticipated to assist in the growth of the market. As more individuals become aware of the many treatment options available, there will be a greater demand for treatment of Parkinson's disease.
Additionally, factors such as rising breakthroughs in the manufacturing of novel medicines and improving health infrastructure in various MEA nations are projected to drive market expansion in the future years. This is predicted to be the case since these variables are expected to play a role. In addition, increasing consumer demand for services of a higher quality, which is driving higher healthcare spending, is projected to lead to further market expansion.
Parkinson's disease is a neurodegenerative disorder that primarily impacts the human brain. This condition makes it difficult to operate and to carry out the activities of daily living. Parkinson's disease is characterised by a lack of dopamine production, which leads in a variety of symptoms, including stiffness, tremors, and trouble walking. This ailment has the potential to become fairly dangerous if it is not treated as soon as it is detected.
However, effective symptomatic treatment for Parkinson's disease is no longer accessible because of the pandemic's limitations on available resources and its diversion of those resources.
In terms of geography, it is anticipated that the regional markets of the Middle East and Africa would account for a moderate proportion of the worldwide market over the period covered by the projection. The increasing burden of neurological illness management of the healthcare systems of big countries, such as the UAE and Kuwait, would motivate the government to undertake aggressive efforts to speed research and development in the treatment of neurodegenerative diseases.
The Middle East And Africa Neurodegenerative Disease 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 Middle East neurodegenerative diseases market. Various indication types include other Middle East 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.