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A neurological disorder is a disturbed physical condition affecting the brain along with Central Nervous System (CNS)and Peripheral Nervous System (PNS).These disorders include biochemical, structural or electrical malfunction inside the brain, spinal cord, cranial/ peripheral/ autonomic nervous system and muscles. These results in a range of symptoms include sensational loss, paralysis, and musculardystrophy, altered level of consciousness, poor coordination and body imbalance.
Until date, more than 600 kind of neurological diseases have already been reported among which some of the major are mentioned below:
Neuro-degenerative diseases, where nerve cells are damaged or die, such as Parkinson’s disease and Alzheimer’s disease
Problem with faulty nervous system development, such as ‘Spina bifida’
Diseases caused by faulty genes such as Huntington’s disease and Muscular dystrophy
Seizure disorders such as epilepsy
Injuries to the spinal cord and brain
Brain infections, such as meningitis
Diseases of the blood vessels that supply the brain such as stroke
Cancer such as brain tumours.
Presently, hundreds of millions of people are suffering from neurological disorders. According to ‘WORLD HEALTH ORGANIZATION Statistics’, more than 50million people are suffering through epilepsy, 24 million by Alzheimer’s disease and a wide amount of future generation is going to be affected by Dementia.
This neurological burden has become a serious threat to the public health. This is expected to drive the neurological disorder drugs market to grow in the next couple of years.
Notable industry movements:
Presently,economy of neurological disorder drugs market is running at a slow pace, but prevalence of neurological diseases in all strata of age groups is expected to lead the market to degrees of success.
In developed and developing countries of North America and Europe, life threatening neurological diseases is of major concern now days.
Frequent reported cases of rare neuro diseases from all over the world are also driving the market. Spreading knowledge about the common neurodiseases among mass population by government agencies will initiate the drive further.
Thrive in geriatric population is also a prime factor for this market growth, since target population of these diseases fall into this age group.
Since R&D costing for neurodisorder drugs are very high and have longer trial period, many pharmaceutical companies are not showing interest to enter in this market at current stage. Another reason is strict rules for prescribing those neurodrugs, which is restricting the neurological disorder drugs market growth.
Even though the companies are likely to introduce lesser-priced drugs with the advancements of distribution channel and production capacities.
Antipsychotic, Antiepileptic, Analgesics, Anticholinergic, Hypnotic and sedative, Antihypertensive, Anticoagulants and others
Distribution and Channel segment
Retail pharmacy, Hospital pharmacy, e-commerce
Based on disorder, the market is dominated by cerebrovascular diseases and is expected to remain the same through the forecast period.
Geographical framework and growth trends:
From geographic point of view, the market is segmented into North America, Europe including CES, Asia Pacific, Latin or South America and Africa &Caribbean.
Due to increased number of epilepsy and dementia cases, North America is dominating the global therapeutics market followed by Europe. In Europe, these drugs are already catering the local market on a mass basis with a growing number of geriatric population and innovative drug trials.
As a result, new entrants are investing huge in research and development of innovative drugs with a competitive price and trying to make their footholds in major developing countries. Due to prevalent cases of neurological disorder diseases (increasing at the growth rate of 4% YOY); local and global companies are expected to penetrate developing regions such as India, Chinaand Africa, in the coming years.
In this market, basically new and old companies have to focus on innovative branding techniques, short but successful trials and developing cost effective neuromedicines. The companies should also concentrate on tabulating this market on the basis of therapeutic, technological and geographical areas for a successful growth in the forecast period.
Some of the major players in this market are Merck & Co.,Boehringer Ingelheim GmBH, Bayer AG, Novartis AG, SunovionPhrmaceuticals, Inc., Pfizer, Inc., Cephalon, Inc., Johnson & Johnson Ltd., F-Hoffman- La Roche Ltd., AstraZeneca, Teva Pharmaceuticals Industries Ltd.
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