Neurological Disease Treatment Market Report and Forecast 2024-2032

Neurological Disease Treatment Market Size

The neurological disease treatment market is expected to grow at a CAGR of 5.7% during the forecast period 2024-2032, driven by the increasing prevalence of neurological disorders across the 8 major markets.

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Neurological Disease Treatment Market Outlook

• According to Brain Research UK, 1 in 6 people are living with neurological conditions in the United Kingdom. The increasing incidence of diseases is expected to boost the market demand for treatment in the forecast period.

• In March 2024, UT Southwestern Medical Center researchers developed gene therapy for rare disease giant axonal neuropathy (GAN). Such advancements in treatment are likely to boost the market value in the coming years.

• The market is witnessing an emphasis on combating fatal symptoms of chronic neurological conditions. For instance, in March 2024, a treatment for Parkinson's, Foslevodopa-foscarbidopa (also known as Produodopa), became accessible through the NHS in England, providing relief for those with movement-related symptoms of Parkinson's.

Neurological Disease Treatment Market Overview

Neurological disease treatment includes different medical approaches focused on controlling and reducing symptoms of conditions that impact the nervous system. This consists of drugs, surgeries, physiotherapy, and advanced methods such as deep brain stimulation. Therapies are customized to suit the neurological disorder and individual requirements, with the goal of enhancing quality of life and functional results.

Neurological disorders impact the brain, spinal cord, and nerves, resulting in diseases such as Alzheimer's, Parkinson's, epilepsy, MS, and stroke. There are several symptoms that occur in such conditions, some of them are alterations in cognition, movement, sensation, and emotions that affect both daily living and overall well-being. Addressing neurological disorders is crucial for both quality of life and the functionality of healthcare systems.

Treatment options for neurological disorders may consist of lifestyle modifications, physical therapy, pain relief methods, and medication, with cognitive behavioral therapy showing effectiveness in addressing behavioral problems such as anxiety. Alternative treatments, such as medicine and therapies for organic brain conditions, strive to enhance function, hinder deterioration, and enhance quality of life. Successful treatments enhance results, decrease disability, and enhance daily functionality. Prompt detection and treatment are essential for providing adequate care to patients and controlling the disease.

Neurological Disease Treatment Market Growth Drivers

Surge in Incidence of Neurological Disorders Spurs Market Growth

The increase in neurological disorders is driving the expansion of the market for treating these conditions. Conditions such as Alzheimer's, Parkinson's, epilepsy, and multiple sclerosis are increasingly prevalent, primarily because of aging populations and improved diagnostic methods. According to World Health Organization (WHO ), 1 in 3 people are affected by neurological conditions which makes it the leading cause of illness and disability. According to Brain Research UK, 1 in 6 people are living with neurological conditions in the country. As a result, the need for innovative treatments like modern medications, minimally invasive procedures, and state-of-the-art technologies such as neurostimulation and gene therapy is increasing.

Technological Advancements to Meet Rising Neurological Disease Treatment Market Demand

Technological advancements are leading to higher demand in the market for treating neurological diseases. Neuroimaging methods such as MRI and PET scans offer in-depth information for timely and precise diagnosis, while neurostimulation technologies present novel treatment possibilities for stubborn conditions. Robotic surgery and minimally invasive procedures improve surgical precision and recovery times. These advancements improve how effective treatments are. It also broadens the scope of conditions that can be treated and gives hope to patients with neurological disorders that were previously untreatable. In March 2024, UT Southwestern Medical Center researchers developed gene therapy for the rare disease giant axonal neuropathy (GAN). Phase one trial showed tolerance and benefits in pediatric patients. It provides a promising treatment alternative for GAN and other neurological diseases.

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Neurological Disease Treatment Market Trends

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Growing Awareness and Diagnosis Rates

Growing efforts in public health and educational programs have increased awareness of neurological conditions, resulting in improved detection of symptoms and timely medical treatment. Technological advancements in diagnostics, such as imaging and genetic testing, help healthcare professionals accurately diagnose conditions like Alzheimer's, Parkinson's, and multiple sclerosis.

Increasing Aging Population 

The rising population of elderly people is causing an increase in neurological disorders. Increased life expectancy results in a greater likelihood of developing diseases such as Alzheimer's, Parkinson's, and strokes.

Government and Private Funding

Government and private sector funding are driving advancements in the treatment of neurological disorders. These funds are used to assist in research, conduct clinical trials, develop drugs, and establish specialized care centers.

Collaborations and Partnerships

Partnerships among healthcare institutions, research organizations, and pharmaceutical companies are crucial for advancing treatment for neurological diseases. These collaborations encourage sharing of knowledge and resources, leading to faster development of new therapies and improved patient care.

Neurological Disease Treatment Market Segmentation

Market Breakup by Drug Class

• Antiepileptic

• Antipsychotic

• Antidepressant

• Cholinesterase Inhibitors

• NMDA Receptor Antagonists

• Others

Market Breakup by Disease Type

• Alzheimer’s Disease

• Cerebrovascular Disease

• Parkinson’s Disease

• Epilepsy

• Multiple Sclerosis

• Others

Market Breakup by Route of Administration

• Parenteral

• Oral

• Others

Market Breakup by End User

• Hospitals

• Specialty Clinics

• Others

Market Breakup by Region

• United States

• EU-4 and the United Kingdom 
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom

• Japan

• India

Neurological Disease Treatment Market Share

Market Share Based on Route of Administration

Based on the route of administration, the market is divided into parenteral, oral, and others. Oral delivery is the top choice for managing neurological disorders such as Alzheimer's, Parkinson's, and epilepsy, thanks to its convenience, patient adherence, and the presence of oral medications. Parenteral administration is commonly used for acute or severe situations when oral drugs prove to be ineffective. Individuals with chronic neurological disorders can take advantage of non-invasive oral treatments that can be administered at home for long-term management.

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Neurological Disease Treatment Market Analysis by Region

Based on region, the market report covers the United States, EU-4 (Germany, France, Italy, and Spain), the United Kingdom, Japan, and India.

The United States is expected to lead the market due to its advanced healthcare system, investment in research, and availability of state-of-the-art technologies. Specialized facilities provide advanced treatments, research studies, and public education efforts to promote early detection and complete care for neurological conditions.

EU-4 and the United Kingdom are experiencing growth due to their robust healthcare systems and research networks, in addition to their collaborative endeavors, which propel innovative treatments forward. Major pharmaceutical companies and universities are collaborating to advance the treatment of neurological disorders, emphasizing care that puts patients at the center. In March 2024, a treatment for Parkinson's, Foslevodopa-foscarbidopa (also known as Produodopa), became accessible through the NHS in England, providing relief for those with movement-related symptoms of Parkinson's. The market in both Japan and India is concentrating on improving treatment for neurological diseases, with Japan giving importance to technological advancements because of its aging population. 

Leading Players in the Neurological Disease Treatment Market

The key features of the market report include patent analysis, clinical trial analysis, grant analysis, funding, and investment analysis as well as strategic initiatives including recent partnerships and collaborations by the leading players. The major companies in the market are as follows:

AbbVie Inc.

AbbVie Inc. is a North Chicago-based American pharmaceutical company specializing in developing drugs for chronic and complex diseases. Their portfolio includes treatments for neurological conditions like migraine and movement disorders. In December 2023, they acquired Cerevel Therapeutics and their neuroscience pipeline targeting diseases such as schizophrenia and Parkinson's disease.

Merck & Co., Inc. 

Merck & Co Inc is a biopharmaceutical company focusing on developing and marketing prescription medicines, biologic therapies, vaccines, and animal health products for various diseases. In November 2023, Merck announced an agreement to acquire Caraway Therapeutics, a biotech company specializing in treatments for neurodegenerative and rare diseases. The deal was worth up to USD 610 million. Caraway Therapeutics creates innovative medicines for genetically defined conditions.

Biogen

Biogen, a global biotechnology company, is focused on developing innovative therapies for complex diseases. Their pipeline includes treatments for neurology, neuropsychiatry, immunology, and rare diseases. In July 2022, the FDA accepted Biogen's Drug Application for Tofersen, a potential treatment for ALS. Biogen continues to prioritize serving humanity through science and creating a healthier, more sustainable world.

Novartis AG

Novartis is a healthcare company specializing in pharmaceutical products and eye care. They offer treatments for cancer, cardiovascular diseases, dermatological conditions, and more. In January 2024, Novartis collaborated with Voyager Therapeutics to develop gene therapy for neurological disease and Alzheimer's, with an initial payment of USD 100 million. Novartis also conducts research through its BioMedical Research division.

Other players in the market F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., Johnson & Johnson Services, Inc., Otsuka Holdings, Pfizer Inc., and Teva Pharmaceutical Industries Ltd.

Key Highlights of the Report

Key Questions Answered in the Neurological Disease Treatment Market Report

• What was the neurological disease treatment market value in 2023? 
• What is the neurological disease treatment market forecast outlook for 2024-2032? 
• What are the regional markets covered in the EMR report?
• What is market segmentation based on disease type? 
• What is market segmentation based on drug class? 
• What is market breakup based on end users? 
• What is market segmentation based on the route of administration? 
• What are the major factors aiding the neurological disease treatment market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• What are the major drivers, opportunities, and restraints in the market?
• What are the major trends influencing the market?
• Which regional market is expected to dominate the market share in the forecast period?
• Which country is likely to experience elevated growth during the forecast period?
• Who are the key players involved in the neurological disease treatment market? 
• What are the current unmet needs and challenges in the market? 
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?