Global Neurologic Disorders Therapeutics Market: Overview
In today’s age, neurologic disorders are becoming increasingly common, especially neurodegenerative diseases. According to various studies, the growth of these neurological disorders is spreading rapidly across Europe and other parts of the world. In addition to this, the treatment for such disorders is also very challenging because of the presence of the strictly regulated blood-brain barrier. It is also challenging due to the unique ability to cover the brain from the new therapeutics. Traditional therapeutics, although effective, are still below the optimum level required for efficient treatment. Hence, there is need for finding newer and more effective therapeutics. This has thus given rise to the neurologic disorders therapeutics market.
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Global Neurologic Disorders Therapeutics Market: Notable Developments
Some of the notable developments in the global neurologic disorders therapeutics market are listed below:
- In August 2019, Pfizer Inc., a global leader in the neurologic disorders therapeutics market announced that the company is ready to invest additional half a billion dollars for the construction of its new state-of-the-art gene therapy manufacturing center. This new manufacturing center will be constructed in Sanford, North Carolina. This new facility is projected to help Pfizer’s constant efforts towards improving their research and development activities in the field of gene therapy. The facility would help in expanding the presence of the company in North Carolina where there is staff of over 3600. The construction of this new facility is expected to create 300 more jobs in the community.
- In July 2019, Pfizer Inc. announced that the company has successfully completed the acquisition of Array BioPharma Inc. This takeover is expected to help the company to expand its portfolio in field of science, research and development, and commercialization of their services.
- In June 2017, the European Commission granted authorization to market SPINRAZA® for the treatment of 5q spinal muscular atrophy. 5q SMA is the most common type of degenerative disease and represents nearly 95% of all the SMA cases.
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Names of other notable players in the global neurologic disorders therapeutics market are listed below:
- Johnson & Johnson Services Inc.
- Novartis AG, Biogen Inc.
- F-Hoffman La Roche Ltd.
Global Neurologic Disorders Therapeutics Market: Drivers and Restraints
There are several factors that are influencing the growth of the global neurologic disorders therapeutics market. One of the key driving factors is the increasing advances in the diagnosis of the different neurodegenerative indications. This has helped in increasing the demand for new therapeutics to effectively treat such neurodegenerative disorders. The early determination such disorders is difficult due to its complex nature of such disorders, lack of efficient diagnostics, and its fast progression. This has naturally helped in driving the activities of research and development for more effective treatment. Governments across the globe are also helping research institutes by allotting more funds for the development of new neurologic disorder therapeutics.
Global Neurologic Disorders Therapeutics Market: Geographical Outlook
The global neurologic disorders therapeutics market is primarily divided into five key regions viz. North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. Of these, the global neurologic disorders therapeutics market is primarily dominated by North America region. This is because of the high aging population in the region, advancements in technology, and highly developed healthcare infrastructure.
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