Stem Cell Therapy is Fastest Growing Segment Fueling the Growth of Neurodegenerative Disease Treatment Market

The global Neurodegenerative Disease Treatment Market is estimated to be valued at US$ 42,388.8 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Neurodegenerative diseases refer to a range of conditions which primarily affect the neurons in the human brain. Some of the most common neurodegenerative diseases include Alzheimer's disease, Parkinson's disease, Huntington's disease, and Amyotrophic lateral sclerosis (ALS). Symptoms of neurodegenerative diseases include loss of memory, impaired judgment, compromised motor skills and coordination. Treatments aim to slow down progression and manage symptoms with drugs, stem cell therapy, and other novel treatment options in the pipeline.

Market key trends:
One of the key trends in the neurodegenerative disease treatment market is the rising prominence of stem cell therapy. This therapy involves the implantation of stem cells in the brain to replace damaged or dead cells and has shown potential in animal studies to slow disease progression in certain neurodegenerative conditions like Parkinson's and Huntington's disease. With more clinical trials ongoing, stem cell therapy is expected to emerge as a major novel treatment approach alongside gene and immunotherapy for a wide range of neurodegenerative diseases over the forecast period.
Segment Analysis
The global neurodegenerative disease treatment market is segmented based on disease type and geography. By disease type, the market is divided into Alzheimer's disease, Parkinson's disease, Huntington disease, amyotrophic lateral sclerosis, and others. Among these, the Alzheimer's disease segment held the largest market share in 2022, owing to the increasing prevalence of the disease among the aging population. Alzheimer's disease is a progressive neurodegenerative condition that causes memory loss and deterioration of other cognitive abilities. Rising risk factors like heart diseases, obesity, and lack of physical activity are fueling the incidence of Alzheimer’s disease globally.

Key Takeaways
The global neurodegenerative disease treatment market size is expected to witness high growth, exhibiting a CAGR of 3.1% over the forecast period from 2023 to 2030, due to increasing prevalence of neurodegenerative conditions like Alzheimer's and Parkinson's disease among the expanding geriatric population.

The market was valued at US$ 42,388.8 Mn in 2023. North America dominated the global market in 2022 owing to the availability of advanced treatment options and ongoing research initiatives towards developing new drugs for neurodegenerative diseases. Asia Pacific is anticipated to register the highest CAGR during the forecast period due to the presence of a large patient pool and rising healthcare expenditures in countries like China and India.

Key players operating in the neurodegenerative disease treatment market are Abbvie Inc., Amneal Pharmaceuticals Inc., Boehringer Ingelheim International Gmbh, F. Hoffmann-La Roche, and Merck & Co. Inc., among others. The major companies are focusing on developing new products through extensive R&D activities and strategic collaborations to strengthen their market position.