Neuroprotective drugs are the drugs used for the management of the neuronal structure and function. Neuroprotective drugs can cut the number of deaths which accounts for 6 million deaths due to stroke. According to the Global Burden of Disease report from the World Health Organization about 50 million people have epilepsy worldwide. Neuroprotective drugs can cut the economic burden of diseases on GDP spent on healthcare. Neuroprotective drugs are useful in treating a range of indications including ischemic strokes, Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis, brain injuries, and other neurodegenerative disorders. Life expectancy has risen over the last few decades in both emerging and developed countries and the geriatric population with neurological disorders or degenerative problems have also increased. This gives a large scope for neuroprotective drug manufacturers to capitalize on the opportunity by entering the niche markets or expanding the reach of already available drugs.
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Increasing incidence and prevalence of various neurological diseases such as dementia, autism, Alzheimer’s disease and other rare diseases expected to drive the growth of the neuroprotective drugs market. Growing incidence of surgeries is anticipated to drive the growth of the neuroprotective drugs market. The rising number of people suffering from degenerative disorders expected to fuel the growth of neuroprotective drugs market. The incurable diseases like multiple sclerosis and amyotrophic lateral sclerosis are expected to rise the demand steadily over the years for neuroprotective drugs. Level of awareness regarding the detection of glaucoma and diabetic retinopathy is anticipated to be one of the factors leading the growth of neuroprotective drugs. An ever-increasing number of traumatic injuries due to recreational activities and transportation is expected to be one of the main drivers of neuroprotective drugs.
The global neuroprotective drugs market is segmented based on the drug class, application, route of administration, distribution channel and region.
By drug class, the global neuroprotective drugs market is segmented as:
- Antiepileptic drugs
- Anti-inflammatory drugs
- Antioxidants/free radical scavengers
- Ion Channel Blockers
By application, the global neuroprotective drugs market is segmented as:
- Multiple sclerosis
- Parkinson’s disease
- Traumatic brain injuries
By route of administration, the global neuroprotective drugs market is segmented as:
By distribution channel, the global neuroprotective drugs market is segmented as:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
The key players are focusing more on clinical trials related to neuroprotective drugs through collaboration with research institutes generating more fund from government sources. The global neuroprotective drugs market is expected to experience steady growth over the forecast period due to increasing prevalence of neurological disorders. By drug class, immunomodulators are expected to be the most lucrative segment in the global neuroprotective drugs market. On the basis of application type, stroke is expected to be the most revenue-generating segment in global neuroprotective drugs market. Based on route of administration, the oral route is expected to be the most lucrative segment in the global neuroprotective drugs market. By distribution channel, retail pharmacies is expected to be the most lucrative segment in the global neuroprotective drugs market owing to higher patient footfall.
The global neuroprotective drugs market is expected to be dominated by North America due to higher prevalence of the pain. Europe is expected to be the second most lucrative region in the global neuroprotective drugs market owing to higher adoption of the neuroprotective drugs. Asia-Pacific is expected to be the fastest-growing neuroprotective drugs market due to large population residing in countries such as India and China. Latin America market is expected to experience steady growth whereas MEA expected to be the least lucrative market due to lower adoption.
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The key participants operating in the global neuroprotective drugs market are: Teva Pharmaceutical Industries Ltd, Biogen, Novartis AG, Janssen Global Services, LLC, Sunovion Pharmaceuticals Inc., Pfizer Inc., Sanofi, Allergan, AstraZeneca, Acorda Therapeutics and others.