Rare Neurodegenerative Diseases Market will Witness Steady Growth through 2030, Notes Fact.MR
Key market players are constantly focusing on achieving accurate results and functional improvement.
"Regular functioning and use of plant polyphenol aids neurotransmitter regulation. Increased research investment and developed medical assistance are anticipated to complement overall market growth," says a Fact.MR analyst.
Rare Neurodegenerative Disease Treatment Market - Key Takeaways
• Hospital Pharmacies will account for the highest market share owing to rising demand by researchers and doctors.
• Due to reduced levels of toxicity, neuroprotective agents are estimated to account for larger market share.
• North America will continue to hold largest share in neurodegenerative disease treatment market.
• Antioxidant benefits in plant polyphenol will widen the scope of therapeutic applications.
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Rare Neurodegenerative Disease Treatment Market - Drivers
• Steady government support and improved reimbursement policies pertaining to the medical industry
• Advancements in medical technology for treatment and diagnosis.
• Increasing cases of neurodegenerative diseases in North America and Europe.
• Increased research, development and investments by leading manufactures.
Rare Neurodegenerative Disease Treatment Market - Constraints
• High-priced nature of treatment can limit adoption over the forecast period.
• Absence of trained professionals in developing economies will act as a major constraint in the market.
Impact of COVID-19 on Rare Neurodegenerative disease Treatment Market
COVID-19 had an adverse effect on worldwide businesses. According to new research, patients suffering from multiple sclerosis are at higher risk as symptoms are not easily visible. According to Chicago based Medicine Health System, 82% of patients' in America while 1 in 3 patients in Europe recorded neurological symptoms post COVID treatment but redirection of medical resources towards coronavirus treatment and strict restrictions will reduce the adoption of neurological treatments.
Rare Neurodegenerative Market - Competition Landscape
Leading players identified in the global market include Allergan Plc, Bayer AG, F.Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Merck KGaA, Novartis AG, Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd. Manufacturers are focussing on product launches and improvements in functionality. For instance, PTC Therapeutics launched PTC Pinpoint, which is a genetic testing program to detect neurotransmitter disorders.
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