Neurological Disorder Drugs
Market: Drivers
Rising awareness associated with
early disease diagnosis through awareness campaigns by government regulatory
bodies and private organizations, and market entry of efficient drugs in the
near future, owing to the presence of strong drug pipeline is expected to drive
growth of the Neurological
Disorder Drugs Market.
For instance, according to a
report 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 for
various neurological disorders. This mainly includes 95 medicines for brain
tumors, 46 for chronic pain, and 92 for Alzheimer’s disease. The other 30 are
being developed for a range of conditions including multiple sclerosis,
migraines, amyotrophic lateral sclerosis, and Parkinson’s disease.
Furthermore, key players are
engaged in gaining regulatory approval for neurological drugs, to expand its
market presence. For instance, in April 2017, the U.S. Food and Drug
Administration (FDA) approved Neurocrine Biosciences’ Ingrezza (valbenazine),
first drug to treat tardive dyskinesia in adults.
Furthermore, UCB S.A., a
Belgium-based company involved in the research and development of
anti-epileptic drugs (AEDs), received European Commission (EC) approval for
BRIVIACT (brivaracetam) as an adjunctive therapy for the treatment of
partial-onset seizures with or without secondary generalization in adult and adolescent
patients from 16 years of age with epilepsy.
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Neurological disorder is
associated with dysfunction in any part of the brain or nervous system,
resulting in physical and/or psychological symptoms. Various neurological
disorders are congenital, which emerge during the early years of embryo
developmental and may be diagnosed at birth. Whereas, acquired neurological
disorders develop after the birth due to traumatic brain injuries, immune disorders,
postnatal injections, spinal cord injuries, neoplasm, and exposure to
environmental chemicals or toxins, among others.
Many bacterial (Mycobacterial
tuberculosis, Neisseria meningitides), viral (Human Immunodeficiency Virus
(HIV), Enteroviruses, West Nile Virus, Zika), fungal (Cryptococcus,
Aspergillus), and parasitic (malaria, Chagas) infections can also affect the
nervous system, resulting in neurological disorders.
Various types of neurological
drugs such as antipsychotic, antiepileptic, anticholinergic, and analgesics are
used for the treatment of neurological disorders. Moreover, choice of
medication mainly depends on the patient’s neurological condition. These drugs
help in managing the neurological condition, reduce symptoms, and improve the
quality of life. Commonly used neurological drugs include corticosteroids,
which are often indicated for the treatment of multiple sclerosis and assist in
decreasing inflammation.
Neurological Disorder Drugs
Market: Restraint
Stringent and lengthy drug approval
procedures, strict policies in prescribing sedatives for the treatment of
neurological disorders, and slowdown in the development of drugs, owing to
expensive research and development cost is expected to restrain the global
neurological disorder drugs market growth over the forecast period.
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Neurological Disorder Drugs
Market: Regional Analysis
North America is expected to hold
a dominant position in the global neurological disorder drugs market and
account for the largest market share over the forecast period, owing to high presence
of key players in the region and approval and launch of novel products by them
in the region.
For instance, in May 2018, Amgen
received the U.S. FDA approval for Aimovig (erenumab-aooe), for the preventive
treatment of migraine in adults. Aimovig is a novel therapeutic approach and
the only FDA-approved treatment specifically developed to prevent migraine by
blocking the calcitonin gene-related peptide receptor (CGRP-R), which plays a
critical role in migraine.
Neurological Disorder Drugs
Market: Key Players
Key players operating in the
global neurological disorder drugs market include Amgen Inc., UCB S.A.,
Neurocrine Biosciences, Inc., Pfizer Inc., Biogen Inc., Teva Pharmaceutical
Industries Ltd., AcelRx Pharmaceuticals, Inc., Eli Lilly and Company, Ionis
Pharmaceuticals, Inc., Adamas Pharmaceuticals, Inc., BioMarin Pharmaceutical
Inc., Otsuka America Pharmaceutical, Inc., AstraZeneca plc, and Novartis
International AG.
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