Europe, the rare neurological disease treatment market, is anticipated to reach US$ 3,763.41 Mn in 2027 from US$ 2,048.10 Mn in 2019. The market is projected to grow with a CAGR of 8.1% from 2020-2027.
The rare neurological disease treatment market is growing primarily due to the rising prevalence of rare neurological diseases, increasing awareness about rare diseases, and robust pipeline drugs in the Europe region that are boosting the market over the years. Restraining factors, such as higher cost of rare neurological disease treatments likely to damage the growth of the market in the coming years. On the other hand, artificial intelligence for the treatment of rare neurological diseases is expected to have a positive impact on the growth of the Europe rare neurological disease treatment market in the coming years.
A large group of rare diseases that have inefficient diagnoses and treatments are the neurological disease. These diseases target the nervous system, which include the brain, spinal cord, and all the nerves that run throughout the human body. There is no surety regarding the onset of the diseases; some can strike during childhood, whereas others can affect even highly aged people.
In the world of medicine, rare neurological diseases represent significant burden on health systems in terms of disease diagnosis, treatment, and management. Some of the majorly observed rare neurological diseases comprises narcolepsy, amyotrophic lateral sclerosis, Alzheimer’s disease, multiple sclerosis, spinal muscular atrophy (SMA), Duchenne muscular dystrophy, and others. According to a data published by World Health Organisation (WHO), it is estimated that about 30 million Europeans in 27 EU-countries suffer from a rare disease.
Over the past few decades, various research and developmental works have been carried out pertaining to the diagnosis and management of rare neurological diseases. Advancements in healthcare systems and modernizing diagnostic systems are likely to enhance the screening operation for rare neurological diseases. Additionally, increasing prevalence of rare neurological diseases is expected to drive the growth of the rare neurological disease treatment market during the forecast period.
In 2019, the Alzheimer’s disease accounted for the largest market share in the Europe rare neurological disease treatment market. Alzheimer’s disease is a progressive disease and a type of dementia, and the condition is characterized by eating and death of brain cells. It is characterized by symptoms such as reduced thinking, memory loss, and lacking behavioural sense. These symptoms get worse over time and highly reduce the independently for daily routine. The disease accounts for nearly 60% to 80% of all dementia cases. It is widely seen among the aging population. In Germany, more than 1.5 million people are living with Alzheimer's disease. For instance, In 2012, Alzheimer's Europe reports that 1,572,104 individuals with dementia were in Germany. This constitutes 1.92 per cent of the total 81,990,837 population. The number of people with dementia is marginally higher than the EU average of 1.55 per cent.
In 2019, the biologics segment, held the most significant market share of the rare neurological disease treatment market by the drug type. This segment is also anticipated to be the fastest growing segment of the market in 2027, owing to the increasing neurological disorders, coupled with increasing robust hospital infrastructure and advancements in medicines, has enabled people for various treatments for the deadliest diseases. Hence, the segment is anticipated to witness growth at a significant rate during the forecast period.
Some of the significant primary and secondary sources for cold plasma equipment included in the report are World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), Food and Drug Administration (FDA) and National Institute of Health (NIH)