The Rare Neurological Disease Treatment Market is expected to register a CAGR of 8.6% during the forecast period. A disease can be defined as rare if it has a prevalence of less than 5 per 10,000. Rare neurological diseases (RNDs) are vastly underdiagnosed and effective treatment is often lacking. There are about 5000–8000 rare diseases, and about 5–8% of the European population is affected by a rare disease, many of which have neurological manifestations. Reflex Sympathetic Dystrophy Syndrome, Battaglia-Neri syndrome, Creutzfeldt Jakob Disease, Agnosia, Aicardi syndrome, Aicardi-Goutieres syndrome, are some of the neurological disorders. However, the diagnosis of rare neurological diseases involves several barricades such as lack of awareness about rare neurological disorders within the population. Rare diseases creating huge healthcare and economic burden worldwide.
According to the National Organization for Rare Disorders (NORD) Report, estimates around 7,000 known rare diseases lead to remarkable morbidity and mortality in 25 million Americans affected by them. In addition, about one-third of these are thought to include neurological components and symptoms.
Increasing prevalence of rare neurological diseases and favourable government policies worldwide for speeding up development processes are the key driving factors in rare neurological disease treatment market.
Key Market Trends
Biologics Segment is Expected to Hold a Major Market Share in the Rare Neurological Disease Treatment Market
- Biologics segment holds a significant market share in the rare neurological disease treatment market and is anticipated to show similar trend over the forecast period due to the higher cost of biological drugs compared to .
- As per Australian Huntington's Disease Association, in Australia over 1,800 people have Huntington’s Disease and approximately 9,000 individuals are at risk of developing disease. Similarly, a very high concentration of Huntington's Disease has been found in the Venezuela where the prevalence of Huntington's Disease is about 700 per 100,000 population.
- Increasing incidences of rare neurological diseases worldwide, increasing focus on fast-track approvals, technological advancements and growing awareness regarding early diagnosis of rare neurological diseases are the key driving factors of the biologics segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global rare neurological disease treatment market due to availability of reimbursement, growing incidence of rare neurological diseases and increasing research and development in this region. As per the Center for Rare Neurological Disease Research Report, the rare neurological diseases affects approximately 200,000 individuals in the United States. Furthermore, increasing healthcare spending and presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
The Rare Neurological Disease Treatment Market is Consolidated competitive and consists of a few major players which dominate the market. Some of the leading market players include , CSL Ltd, Kedrion Biopharma Inc, US WorldMeds LLC (Solstice Neurosciences, LLC), Merz Pharma GmbH & Co. KGaA, Aquestive Therapeutics, Inc, Bayer AG, Pfizer Inc, Novartis AG, Merck & Co., Inc (EMD Serono, Inc) and Jazz Pharmaceuticals Plc.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Rare Neurological Diseases
4.2.2 Promising Pipeline Drugs for Treatment of Rare Neurological Diseases
4.2.3 Favorable Government Policies worldwide for Speeding up Diagnostic Processes
4.3 Market Restraints
4.3.1 High Cost of Treatment
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Drug Type
5.1.2 Small Molecules
5.2 By Mode of Administration
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 US WorldMeds LLC (Solstice Neurosciences, LLC)
6.1.2 CSL Ltd
6.1.3 Merz Pharma GmbH & Co. KGaA
6.1.4 Aquestive Therapeutics, Inc
6.1.5 Kedrion Biopharma Inc
6.1.6 Bayer AG
6.1.7 Pfizer Inc
6.1.8 Novartis AG
6.1.9 Merck & Co., Inc (EMD Serono, Inc)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.