Rare Neurological Disease Treatment Market Scope 2031
The Rare Neurological Disease TreatmentMarket was valued at US$ 7.6 billion in 2021 and is expected to reach US$ 14.5 billion by 2031. The market is expected to register a CAGR of 8.7% from 2023–2031. Clinical trials and drug research to treat rare neurological disease treatment is likely to remain key Rare Neurological Disease Treatment Market trends.
Rare Neurological Disease TreatmentMarket Analysis
Innovative Therapies Rare Neurological Disease Treatment
Centre for Drug Evaluation and Research (CDER) announced in 2023 approval for the first enzyme replacement therapy to treat non-neurological effects of alpha-mannosidosis (a rare genetic lysosomal storage disorder). Additionally, in March 2024, a clinical study found that an investigational gene therapy may help patients with rare neurodegenerative disease. Further, in May 2022, the Accelerating Rare Disease Cures (ARC) Program was established to drive scientific and regulatory innovation and engagement to accelerate the availability of treatment for patients with rare diseases. The FDA will leverage the ARC Program's infrastructure, expertise, and strategic leadership to establish an inter-centre Rare Neurodegenerative Diseases Task Force. The aforementioned factors are responsible for influential rare neurological disease treatment market growth during 2021-2031.
Rare Neurological Disease TreatmentMarket Overview
Technology, innovation, and smart technological solutions such as continue to influence rare neurological disease treatment market significantly. Innovative therapies rare neurological disease treatment and product launches are the most influential factors responsible for Rare Neurological Disease Treatment Market growth. Clinical trials and drug research to treat rare neurological disease treatment is a key trend for Rare Neurological Disease Treatment Market growth. Rising Research & Development (R&D) activities will provide lucrative market opportunity.
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Rare Neurological Disease Treatment Market: Strategic Insights
Market Size Value in US$ 7,300.12 Million in 2019 Market Size Value by US$ 13,830.96 Million by 2027 Growth rate CAGR of 8.5% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Rare Neurological Disease Treatment Market: Strategic Insights
| Market Size Value in | US$ 7,300.12 Million in 2019 |
| Market Size Value by | US$ 13,830.96 Million by 2027 |
| Growth rate | CAGR of 8.5% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Rare Neurological Disease TreatmentMarket Drivers and Opportunities
Product Launches to Favor Market
In November 2022, CENTOGENE announced launching of "Biodata Network" a portfolio of data-driven rare and neurodegenerative diseases for biopharma and research institutes. Additionally, CENTOGENE datasets represents an estimated 20% increase in both breadth and depth of genomic data currently available through BC platforms. This dataset reflects a diverse geographic and ethnic sample base including prevalence of paediatric cases suffering from rare and neurodegenerative diseases including clinical, multiomic, and socio-demographic data. Therefore, such innovative product launching datasets for rare neurological disease treatment will contribute significantly in the coming years.
Rising Research & Development (R&D) Activities– An Opportunity
- In December 2023, The Food and Drug Administration (FDA) announced grants and contracts to public and private entities covering the cost of research and development (R&D) to prevent, diagnose, mitigate, treat, and cure Amyotrophic lateral sclerosis (ALS) and other rate neurodegenerative diseases in adults and children.
- In June 2023, Ipsen and Medentia announced a collaboration for extensive drug discovery and medicinal chemistry. Through this collaboration, the companies will collectively bring new solutions to people worldwide, focusing on rare diseases, including rare neurodegenerative diseases.
Therefore, rising R&D activities will provide lucrative market opportunities accounting considerable market share in the coming years for Rare Neurological Disease Treatmentmarket.
Rare Neurological Disease Treatment
Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Rare Neurological Disease Treatment Market analysis are candidature and services.
- Based on Indication, the Rare Neurological Disease Treatment Market is segmented into narcolepsy, amyotrophic lateral sclerosis, Alzheimer’s disease, multiple sclerosis, spinal muscular atrophy, Duchenne muscular dystrophy, and others. The Alzheimer’s disease may hold a larger market share in 2023.
- Based on Drug Type, the Rare Neurological Disease Treatment Market is bifurcated into organic compounds and biologics. The biologics may hold a larger market share in 2023.
- Based on Mode of Administration, the Rare Neurological Disease Treatment Market is bifurcated into Oral and Injectable. The Oral segment may hold a larger market share in 2023.
- Based on Distribution Channel, the Rare Neurological Disease Treatment Market is segmented as Hospital Pharmacies, Retail Pharmacies, and Others. The Hospital Pharmacies segment may hold a larger market share in 2023.
Rare Neurological Disease Treatment Market Share Analysis by Geography
The geographic scope of the Rare Neurological Disease TreatmentMarket report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the Rare Neurological Disease Treatment Market. In North America, US accounts considerable share for rare neurological disease treatment. Presence of top manufacturers present in the US and increasing R&D activities are the most influential factors responsible for market growth. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Rare Neurological Disease Treatment
Market Report Scope
Rare Neurological Disease TreatmentMarket News and Recent Developments
The Rare Neurological Disease TreatmentMarket is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in them market for Rare Neurological Disease Treatment and strategies:
- In September 2022, the US Food and Drug Administration (USFDA) and the National Institute of Health (NIH) announced the launching of the "Critical Path for Rare Neurodegenerative Diseases (CP-RND)," a public-private partnership aiming to advance the understanding of neurodegenerative diseases that foster the development of treatments for amyotrophiclateral sclerosis (ALS) and other rare neurodegenerative diseases.
Rare Neurological Disease TreatmentMarket Report Coverage and Deliverables
The “Rare Neurological Disease TreatmentMarket Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Indication ; Drug Type ; Distribution Channel ; Mode of Administration and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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