The market is expected to reach $15.44 billion by 2024 at a CAGR of 8.30% with improvements in early disease diagnosis, finds Frost & Sullivan
SANTA CLARA, California, Oct. 28, 2019 /PRNewswire/ — With both large pharmaceutical companies and mid-sized biotechs adopting emerging technologies such as artificial intelligence and machine learning, there has been a reorientation of drug discovery and development, validation, testing, and clinical deployment. Scientific advancements such as cell and gene therapies and understanding of the microbiome, plus improvements in early disease diagnostics, are expected to drive the $9.56 billion neurodegenerative disorder (ND) therapeutics market for Alzheimer’s and Parkinson’s Diseases (AD/PD) toward $15.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.30%.
“With the alarming attrition rate of clinical pipeline for Alzheimer’s and Parkinson’s, and elusive success of therapies in their ability to modify disease, the future of the therapy hinges on the course of action companies take today,” said Khushbu Jain, Transformational Health Industry Analyst. “As the understanding of science behind disease deepens and offers new pathways for drug development, pharma companies will have to seek additional avenues for revenue and unconventional partnerships to offer immediate solutions to patients. The most lucrative partners remain digital platform providers that can help manage the disease better, help expedite drug discovery and, ultimately, deliver on outcome-based care.”
Frost & Sullivan’s recent analysis, Growth Opportunities in the Neurodegenerative Disorder Therapeutics Market, Forecast to 2024, examines the new risk mitigation strategies in light of generalization and price erosion. It also identifies viable partnership models and the organizations’ alternative solutions to R&D challenges cloaked in digital alternatives. It analyzes the innovativeness of the key regional markets of North America, Western Europe (EU5, Scandinavia, Benelux), and Asia-Pacific (China, Philippines, Indonesia, India, Malaysia, Singapore, Japan, Vietnam, South Korea, Taiwan, Australia, and Thailand).
For further information on this analysis, please visit: http://frost.ly/3t7.
“Unprecedented funding, favorable regulatory overhaul, and culture of open innovation will create a favorable environment for successful disease-modifying therapies, despite the high degree of drug pipeline attrition. The segments with the most potential will be cell and gene therapies,” noted Jain. “By 2024, adjunctive digital therapies are expected to become an integral part of care delivery for NDs.”
There will be additional growth opportunities for drug developers that:
- Invest in analytics platforms to reliably extract meaning from data gathered in uncontrolled environments, as well as establish the validity of patient-reported data.
- Focus on digital biomarkers as they offer an opportunity to go beyond episodic measurement to frequent and continuous symptom/outcome measurement.
- Utilize the microbiome to develop non-invasive diagnostic and screening tools to facilitate early detection, as related symptoms can serve as identifiable markers for PD diagnosis.
- Explore a combinatorial approach for AD, with stem cells tagged with neurotransmitters or protein-modifying enzymes, and simultaneously evaluate sources, types, stages, doses, and routes of stem cell transplantation for therapy optimization.
- Collaborate with device manufacturers from the early stages of drug discovery to design targeted drug delivery devices.
- Leverage new-generation digital tools or outsource them to contract research organizations (CROs) for faster, efficient, and economical repurposing of existing drugs.
Growth Opportunities in the Neurodegenerative Disorder Therapeutics Market, Forecast to 2024 is part of Frost & Sullivan’s global Life Sciences Growth Partnership Service program.
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Growth Opportunities in the Neurodegenerative Disorder Therapeutics Market, Forecast to 2024
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