North America held a significant market share in the global neurological movement disorders market in 2020 due to the high prevalence of the disorder, high awareness among the patient population, and technological advancements.
Pune, India, June 01, 2021 (GLOBE NEWSWIRE) -- The global neurological movement disorders market has been estimated to reach a value of USD 12,800 million in 2021 and is projected to grow at a CAGR of 9.80% during the forecast period from 2021 to 2030.
Neurological movement disorders are conditions that impair one's ability to generate and regulate movement. This condition predominantly affects the brain, spinal cord, as well as nerves in the body, resulting in cerebrovascular diseases, adult degenerative diseases, and other complications. The key growth drivers of the movement disorder market are the development of efficient and advanced technology, growing prevalence of neurodegenerative disorders, patent expiration of many blockbuster drugs, and the advent of new technologies globally.
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In developing countries such as China and India, improving economies and health have increased life expectancy and shifted the emphasis away from communicable diseases to non-communicable diseases. The prevalence of movement disorders and age-related diseases such as Parkinson's disease is predicted to rise in these countries. Such neurological movement disorders can hamper the ability to walk and talk.
The global neurological movement disorders market is anticipated to be influenced by FDA-approved drugs and treatments. Two drugs that have recently cleared the FDA pipeline are Xadago (safinamide) tablets and Ingrezza capsules. Xadago (safinamide) and Ingrezza capsules tablets have recently been approved for the treatment of dyskinesia and Parkinson's disease, respectively. Furthermore, the FDA has approved the implantation of a brain implant to relieve tremor symptoms. These factors are also projected to promote the growth of the neurological movement disorders market.
According to a publication of the Neurological Society of India, movement disorders constitute 3-8% of neurological disorders in India, with a crude prevalence rate (CPR) varying from 31 to 45/100,000 above 60 years of age. They are more frequent in rural India
Global Neurological Movement Disorders Market, by Disorder Type
Based on the disorder type, the market is segmented into ataxia, chorea, dystonia, functional movement disorder, Huntington’s disease, multiple system atrophy, myoclonus, Parkinson’s disease, and others. Among these, the Parkinson’s disease segment is projected to dominate the market during the forecast period. Several factors that are expected to boost market growth include growth in ageing population and the associated increase in the prevalence of Parkinson’s disease. Moreover, growing healthcare awareness and increased government funding for research are anticipated to propel the market growth of the Parkinson’s disease segment.
Parkinson's disease is a progressive neurological condition that causes movement difficulties. The disease progresses through five stages and can gradually trigger changes in a person's facial expressions and hand and leg movements. The average age for the development for Parkinson's disease is in the early 60s, while 5-10% may develop the condition before the age of 40 years. In Canada, 1 in every 500 people has Parkinson's disease.
The increasing prevalence of ataxia, coupled with increased diagnosis rates and technological advancements in pharmacotherapy to treat ataxia symptoms, is driving the movement disorder market. According to the National Organization for Rare Disorders (NORD), the prevalence of Friedreich's Ataxia (FRDA) is approximately 1 in 40,000 individuals.
Huntington's disease (HD) is an inherited neurodegenerative condition characterized by a wide range of motor, cognitive, and psychological symptoms. According to the National Association for Rare Diseases, about 30,000 people in the United States have Huntington's disease, with an additional 200,000 at risk of developing the disorder.
Global Neurological Movement Disorders Market, By Treatment Type
Based on the treatment type, the market is segmented into drugs, deep brain stimulation, and non-invasive treatments. Deep brain stimulation is further segmented into fixed-life and rechargeable battery. Among these, the deep brain stimulation treatment type is anticipated to dominate the market.
Deep Brain Stimulation (DBS) is becoming more common as a treatment option for drug-resistant movement disorders, such as Parkinson's disease, dystonia, and tremor. Deep brain stimulation uses an implant to stimulate the areas of the brain that control movement. One of the main factors in contributing to the global growth of this market is the growing prevalence of neurological disorders that result in paralysis or impairment.
Moreover, the market is expected to expand due to the potential benefits of deep brain stimulation products, such as long-term effectiveness and better control of postoperative outcomes. Deep brain stimulation segment is further bifurcated into fixed-life and rechargeable battery.
In certain cases, movement problems cannot be cured or resolved completely, and the purpose of treatment is to reduce symptoms and pain. Drug therapies are used mainly to control the symptoms of movement disorders.
Global Neurological Movement Disorders Market, By End User
Based on end user, the market is segmented into hospital, clinics & ablation centers, ambulatory surgical centers, and research laboratories & academic institutes. Among these, the hospital segment was estimated to hold the largest market share in 2020, and it is expected to grow at a healthy CAGR during the forecast period. The presence of skilled neurologists as well as robust health infrastructure are the major factors that are contributing to the growth of the segment.
An ASC (Ambulatory Surgical Center) is a modern healthcare facility that provides same-day surgical services, including diagnostic and preventative procedures, according to the Ambulatory Surgical Centre Association. A well-managed ASC can save surgeons several hours per day and enable them to perform more surgeries with more efficiency.
Global Neurological Movement Disorders Market, By Region
Based on region, the market is segmented as North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America held a significant market share in the global neurological movement disorders market in 2020 due to the high prevalence of the disorder, high awareness among the patient population, and technological advancements.
Europe is listed as the second largest market for neurological movement disorders, as well as one of the top study destinations. The most promising market for movement disorders diagnosis and treatment is the Asia Pacific market. Rising aging population and increasing number of generic drug manufacturers across the region are key factors that are anticipated to drive the market in Asia Pacific.
Some Noted Developments Considered in the Report:
January 2020 - Abbott received the expanded indication from the U.S. FDA for directional deep brain stimulation system to treat Parkinson's disease.
COVID-19 Impact on Global Neurological Movement Disorders Market
The QMI team has closely monitored the impact of COVID-19 on the global neurological movement disorders market, and has observed the heavy impact of COVID-19 outbreak. Concerns have been raised about the potentially heightened risks of COVID-19 in people with Parkinson's disease and other movement disorders due to the increased vulnerability of the elderly and those with comorbidities, as well as the growing prevalence of Parkinson's disease with age. During the COVID-19 pandemic, several academic and industry laboratories researching new treatments or diagnostics for Parkinson's disease were forced to close or drastically reduce their operations. This has impacted the growth of the market.
Some Major Findings of Global Neurological Movement Disorders Market Include:
Major global market trend, forecast analysis, and country-specific market analysis for up to 25 countries
In-depth global neurological movement disorders market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
Profiles of key market players operating in the global neurological movement disorders market, which include Abbott Laboratories,Inc., Boston Scientific Corporation, Aleva Neurotherapeutics Sa, Nexstim, Neuropace, Inc., Allergan, EISAI Co., Ltd, IPSEN, Insightec Ltd, Merz Pharma, Abbvie, Sonacare Medical, and Resofus Alomar.
Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years.
Key impact factor analysis across regions that include analysis, along with drivers, restraints, opportunities, and challenges that are prevailing in the global neurological movement disorders market.
Impact of COVID-19 on the global neurological movement disorders market.
Browse key industry insights spread across 150 pages with 100 market data tables and 70 figures & charts from the report, “Neurological Movement Disorders Market by Disorder Type (Ataxia, Chorea, Dystonia, Functional Movement Disorder, Huntington’s Disease, Multiple System Atrophy, Myoclonus, Parkinson’s Disease, Others), Treatment Type (Drugs, Deep Brain Stimulation, And Non-Invasive Treatments) End User (Hospital, Clinics & Ablation Centers, Ambulatory Surgical Centers, And Research Laboratories & Academic Institutes), and Region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America) — Market Size and Forecasting (2021–2030)”, in-depth analysis along with the table of contents (ToC).
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