Neurodegeneration is the progressive loss of structure or function of neurons, including death of neurons. Many neurodegenerative diseases including amyotrophic lateral sclerosis, Parkinson’s, Alzheimer’s, and Huntington’s occur as a result of neurodegenerative processes. Moreover, neurodegenerative diseases and their prevalence increases significantly with increasing age. Neuroprotective products are medications that protect the brain neurons from degeneration and injury and are used in the treatment of several central nervous system complications such as Parkinson’s disease, Alzheimer’s disease, and traumatic brain injuries among others.
Increasing incidence of neurodegenerative diseases expected to drive the global neuroprotective products market
Increasing incidence of neurodegenerative diseases across the globe is a key factor driving growth of the global neuroprotective products market. In addition, increasing geriatric population, and a rising need for effective treatments for brain injuries are major factors expected to drive growth of the global neuroprotective products market over the forecast period.
However, high costs involved in R&D of neuroprotective drugs is a key factor restraining growth of the global neuroprotective products market. Additionally, stringent regulatory standards, and high failure rate of clinical trials are major factors expected to restrain growth of the global neuroprotective products market over the forecast period.
The global neuroprotective products market report has been segmented on the basis of type of drugs, treatment of medical condition, and region. On the basis of type of drugs, the global neuroprotective products market is segmented into Cholinesterase inhibitors, NMDA receptor antagonists, Anti-inflammatory and anti-apoptotic agents, Neurotropic factors, Mitochondrial dysfunction regulators, Metal Ion Chelators, Ion channel modulators, Free radical trappers, Anti-excitotoxic agents, and Others. On the basis of treatment of medical conditions into, Alzheimer’s disease, Multiple sclerosis, Parkinson’s disease, Ocular degeneration (retinal disorders), Amyotrophic lateral sclerosis (ALS), Huntington’s disease, Neuropathies, Brain injury, and Other disorders affecting the nervous system. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America is estimated to account for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to high awareness about neurodegeneration, and neuroprotective products in the region. Europe is estimated to account for second largest revenue share contribution to the global market followed by markets in Asia Pacific. The markets in Asia Pacific, and Europe are expected to have an increasing demand for neuroprotective products, due to commercialization of different personalized medications for neurodegenerative disorders over the forecast period.
Key players in the global neuroprotective products market include, Genervon Biopharmaceuticals, NeuroVive Pharmaceutical AB, Ceregene, BHRPharma LLC, Neuren Pharmaceuticals, Allon therapeutics Inc., Bionure Inc., and Varinel Inc.