Neurological Disorder DrugsMarket: Drivers
Rising awareness associated withearly disease diagnosis through awareness campaigns by government regulatorybodies and private organizations, and market entry of efficient drugs in thenear future, owing to the presence of strong drug pipeline is expected to drivegrowth of the NeurologicalDisorder Drugs Market.
For instance, according to areport published by the Pharmaceutical Research and Manufacturers of America(PhRMA) in April 2018, there are currently 537 medicines in development by biopharmaceutical companies in the U.S forvarious neurological disorders. This mainly includes 95 medicines for braintumors, 46 for chronic pain, and 92 for Alzheimer’s disease. The other 30 arebeing developed for a range of conditions including multiple sclerosis,migraines, amyotrophic lateral sclerosis, and Parkinson’s disease.
Furthermore, key players areengaged in gaining regulatory approval for neurological drugs, to expand itsmarket presence. For instance, in April 2017, the U.S. Food and DrugAdministration (FDA) approved Neurocrine Biosciences’ Ingrezza (valbenazine),first drug to treat tardive dyskinesia in adults.
Furthermore, UCB S.A., aBelgium-based company involved in the research and development ofanti-epileptic drugs (AEDs), received European Commission (EC) approval forBRIVIACT (brivaracetam) as an adjunctive therapy for the treatment ofpartial-onset seizures with or without secondary generalization in adult and adolescentpatients from 16 years of age with epilepsy.
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Neurological disorder isassociated with dysfunction in any part of the brain or nervous system,resulting in physical and/or psychological symptoms. Various neurologicaldisorders are congenital, which emerge during the early years of embryodevelopmental and may be diagnosed at birth. Whereas, acquired neurologicaldisorders develop after the birth due to traumatic brain injuries, immune disorders,postnatal injections, spinal cord injuries, neoplasm, and exposure toenvironmental chemicals or toxins, among others.
Many bacterial (Mycobacterialtuberculosis, Neisseria meningitides), viral (Human Immunodeficiency Virus(HIV), Enteroviruses, West Nile Virus, Zika), fungal (Cryptococcus,Aspergillus), and parasitic (malaria, Chagas) infections can also affect thenervous system, resulting in neurological disorders.
Various types of neurologicaldrugs such as antipsychotic, antiepileptic, anticholinergic, and analgesics areused for the treatment of neurological disorders. Moreover, choice ofmedication mainly depends on the patient’s neurological condition. These drugshelp in managing the neurological condition, reduce symptoms, and improve thequality of life. Commonly used neurological drugs include corticosteroids,which are often indicated for the treatment of multiple sclerosis and assist indecreasing inflammation.
Neurological Disorder DrugsMarket: Restraint
Stringent and lengthy drug approvalprocedures, strict policies in prescribing sedatives for the treatment ofneurological disorders, and slowdown in the development of drugs, owing toexpensive research and development cost is expected to restrain the globalneurological disorder drugs market growth over the forecast period.
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Neurological Disorder DrugsMarket: Regional Analysis
North America is expected to holda dominant position in the global neurological disorder drugs market andaccount for the largest market share over the forecast period, owing to high presenceof key players in the region and approval and launch of novel products by themin the region.
For instance, in May 2018, Amgenreceived the U.S. FDA approval for Aimovig (erenumab-aooe), for the preventivetreatment of migraine in adults. Aimovig is a novel therapeutic approach andthe only FDA-approved treatment specifically developed to prevent migraine byblocking the calcitonin gene-related peptide receptor (CGRP-R), which plays acritical role in migraine.
Neurological Disorder DrugsMarket: Key Players
Key players operating in theglobal neurological disorder drugs market include Amgen Inc., UCB S.A.,Neurocrine Biosciences, Inc., Pfizer Inc., Biogen Inc., Teva PharmaceuticalIndustries Ltd., AcelRx Pharmaceuticals, Inc., Eli Lilly and Company, IonisPharmaceuticals, Inc., Adamas Pharmaceuticals, Inc., BioMarin PharmaceuticalInc., Otsuka America Pharmaceutical, Inc., AstraZeneca plc, and NovartisInternational AG.
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