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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