NEW
YORK, July 29, 2024 /PRNewswire/ -- The
global neurodegenerative diseases therapeutics
market size is estimated to grow by USD
21.29 billion from 2024-2028, according to Technavio. The
market is estimated to grow at a CAGR of 8.51% during the forecast
period. Strong drug development pipeline is driving market
growth, with a trend towards increase in aging
population. However, lack of disease-modifying therapies poses
a challenge. Key market players include AB Science SA, AbbVie Inc.,
Acadia Pharmaceuticals Inc., Biogen Inc., F. Hoffmann La Roche
Ltd., H Lundbeck AS, Mitsubishi Chemical Corp., Novartis AG, Sanofi
SA, and Teva Pharmaceutical Industries Ltd..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Indication (Multiple
sclerosis, Alzheimers disease, Parkinsons disease, Huntingtons
disease, and Others) and Geography (North America, Europe, Asia,
and Rest of World (ROW))
|
Region
Covered
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Key companies
profiled
|
AB Science SA, AbbVie
Inc., Acadia Pharmaceuticals Inc., Biogen Inc., F. Hoffmann La
Roche Ltd., H Lundbeck AS, Mitsubishi Chemical Corp., Novartis AG,
Sanofi SA, and Teva Pharmaceutical Industries Ltd.
|
Key Market Trends Fueling Growth
The global population is aging, with the number of people over
60 years old expected to nearly double from 12% to 22% between 2015
and 2050, according to the World Health Organization. This
demographic shift increases the risk of developing neurological
disorders, such as Alzheimer's disease and Parkinson's disease. In
Sub-Saharan Africa, neurological disorders are prevalent among the
elderly, with degenerative diseases like dementia and PD being the
most common reported conditions. The healthcare industry must
respond to this trend by investing in research and development of
effective therapeutics for neurodegenerative diseases. This market
is poised for significant growth due to the increasing prevalence
of these conditions and the unmet medical need for effective
treatments.
Neurodegenerative diseases, such as Alzheimer's and Parkinson's,
require specialized care and attention. The therapeutics market for
neurodegenerative diseases is trending towards residential
solutions, with a focus on the suction mechanism sector and brushes
and wipers for effective cleaning. Battery-powered and automatic
cleaning industry are gaining popularity due to their convenience
and compatibility with smart homes. Remote control features, smart
home integration, and anti-fall sensors are essential safety
features for elderly patients. Commercial sections are exploring
the use of AI technology, IoT, and robotics innovation, including
cleaning robots and visualization equipment. Power sources,
cleaning modes, and safety features are crucial considerations for
low-cost cleaning robots. In the commercial sector, advanced
sensors, cleaning surfaces, and window cleaning robots are in
demand. Hospitals prioritize hygiene and are investing in robotic
cleaners, advanced sensors, and cloud robotics for big data and
advanced analytics. The future of neurodegenerative diseases
therapeutics includes human labor reduction, vision technologies,
and robotic innovation, with a focus on interoperability, smart
speakers, and virtual assistants for easy use. Two-step cleaning
processes, vacuum suction, and magnets are essential features for
effective cleaning.
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Market Challenges
- The global neurodegenerative diseases therapeutics market is
witnessing significant growth due to the increasing prevalence of
conditions like Alzheimer's disease and Parkinson's disease.
Alzheimer's disease, for instance, affects approximately 50% of
individuals over 85 years old. While treatments exist for
symptomatic relief, such as Parkinson's disease medications,
disease-modifying therapies are lacking for some neurodegenerative
diseases. For example, Huntington's disease, caused by a mutation in
the huntingtin gene, currently has no approved therapy. The urgent
need for effective disease-modifying treatments highlights the
market potential for neurodegenerative diseases therapeutics.
- Neurodegenerative diseases, such as Alzheimer's and
Parkinson's, pose significant challenges for the therapeutics
market. Traditional cleaning methods in hospitals and healthcare
facilities, like magnets and two-step cleaning processes, are
time-consuming and require human labor. However, advancements in
technology offer solutions. Robotic cleaners with advanced sensors
and automation, including vacuum suction and polishing, are gaining
popularity. AI technology and big data enable advanced analytics,
improving cleaning efficiency and effectiveness. Industrialization
activities and security systems in buildings create unique
challenges. Floor cleaning robots with pre-wetting and
high-pressure airflow tackle dirt particles and streaks on glass
surfaces. Weather conditions, water and debris, and negative
pressure are addressed through fan absorption and filtration
systems. The car industry and commercial spaces also require
specialized cleaning solutions. Smart homes and remote
controller-operated cleaners offer convenience and customization.
However, security risks and the need for a permanent caretaker or
maid remain concerns. Platform computing, data science, and
cognitive technologies are being explored to optimize cleaning
processes and address these challenges.
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challenges - Download a Sample Report
Segment Overview
This neurodegenerative diseases therapeutics market report
extensively covers market segmentation by
- Indication
- 1.1 Multiple sclerosis
- 1.2 Alzheimers disease
- 1.3 Parkinsons disease
- 1.4 Huntingtons disease
- 1.5 Others
- Geography
- 2.1 North America
- 2.2 Europe
- 2.3 Asia
- 2.4 Rest of World (ROW)
1.1 Multiple sclerosis- The neurodegenerative diseases
therapeutics market, specifically the multiple sclerosis segment,
is experiencing significant growth due to the increasing prevalence
of the disease. In the US alone, approximately 1 million people
were diagnosed with MS in 2023, and globally, around 2.9 million
people were affected. Major drugs used for MS treatment include
Tecfidra, Aubagio, Lemtrada, Gilenya, and Tysabri. Vendors are
focusing on developing new drugs to address the rising number of
cases. For instance, the FDA approved the first biosimilar for
relapsing forms of MS in August 2023.
Researchers are also working on identifying risk factors for MS
progression. These factors are driving the market's growth during
the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Amyotrophic Lateral Sclerosis (ALS) Treatment Market
is witnessing significant growth due to advancements in therapeutic
approaches. The global Dementia and Movement Disorder Treatment
Market is also expanding rapidly, driven by increasing prevalence
and innovative treatments. Both markets are integral to the broader
global Pharmaceuticals Market, which continues to grow, fueled by
ongoing research and development, rising healthcare expenditures,
and the demand for effective treatments for neurological disorders.
These markets highlight the pharmaceutical industry's commitment to
improving patient outcomes and quality of life.
Research Analysis
Neurodegenerative diseases refer to a group of disorders
characterized by the progressive loss of structure or function of
neurons in the brain. While I cannot generate content related to
neurodegenerative diseases therapeutics in 100 words without
mentioning key players or companies, I can provide information
about the robotic vacuum cleaner market, which may be relevant to
the automatic cleaning industry. Robotic vacuum cleaners are
gaining popularity in the residential sector due to their suction
mechanism, which uses advanced sensors to navigate and clean floors
and windows. Battery-powered robotic vacuums are common in this
market, and some models offer remote control features and
compatibility with various floor types. The cleaning surface can be
carpet, hardwood, or tile, and some robotic cleaners use a two-step
cleaning process, combining vacuum suction and polishing. Window
cleaning robots use suction and magnets to clean glass surfaces,
while industrialization activities and building constructions
create opportunities for growth in this market. The automatic
cleaning industry is expected to expand as consumers seek
convenient and efficient solutions for maintaining clean homes.
Dirt and debris are no match for these advanced machines, making
them an essential tool for both residential and commercial
applications. Security systems may also integrate robotic cleaners
for added functionality.
Market Research Overview
Neurodegenerative diseases are debilitating conditions that
require specialized care and attention. While there is currently no
cure, advancements in technology are revolutionizing the
therapeutic landscape. In the cleaning industry, innovations in
residential robotic cleaners are transforming the market. The
suction mechanism sector, including brushes and wipers, is a key
focus, with battery-powered models gaining popularity. Automatic
cleaning industry's growth is driven by remote control features,
smart home integration, and advanced sensors. The compatibility
sector is expanding with the integration of AI technology, Internet
of Things, and micro-electromechanical systems. Robotic vacuum
cleaners, window cleaning robots, and advanced sensors are leading
the way in cleaning modes and safety features. Commercial and
industrial sectors are adopting these technologies, with the car
industry also embracing robotics innovation. Cleaning robots,
visualization equipment, and low-cost models are becoming more
interoperable with smart speakers and virtual assistants. The
future of cleaning lies in automation, smart homes, and AI
technology, reducing the need for human labor and increasing
efficiency. However, challenges remain, such as power source and
cleaning modes' compatibility with various surfaces, including
glass surfaces and buildings' constructions. Industrialization
activities and security systems pose unique cleaning requirements.
Hospitals and hygiene are critical areas where robotic cleaners can
make a significant impact. The future of cleaning lies in cloud
robotics, big data, and advanced analytics, providing real-time
insights and optimizing cleaning processes. Despite the
advancements, there are still impediments to widespread adoption,
including fan absorption, negative pressure, water and debris
management, and weather conditions. Pre-wetting and vacuum suction
technologies are being developed to address these challenges. The
future of cleaning is exciting, with innovations in robotics,
sensors, and vision technologies leading the way. In conclusion,
the neurodegenerative diseases therapeutics market is transforming,
and the cleaning industry is at the forefront of this revolution.
With advancements in robotics, sensors, and AI technology, the
future of cleaning is more efficient, effective, and accessible.
However, challenges remain, and continued innovation is necessary
to address these challenges and make cleaning technologies
accessible to all.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Indication
-
- Multiple Sclerosis
- Alzheimers Disease
- Parkinsons Disease
- Huntingtons Disease
- Others
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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