BCC Research Forecasts Neurology Market to Reach $94.8 Billion by 2029

"Increased Prevalence of Chronic Neurological Conditions and Enhanced Healthcare Infrastructure Drive Neurology Market Growth in Unexplored Markets"

, /PRNewswire/ -- According to the latest study from BCC Research, "Neurology Market: A BCC Research Overview" is estimated to increase from $67.3 billion in 2024 to $94.8 billion by the end of 2029, at a compound annual growth rate (CAGR) of 7.1% from 2024 through 2029.

This report covers the market's current and future potential and examines market drivers and constraints, pipeline medications, the competitive landscape, the regulatory picture, and the epidemiology of neurological disorders. The study segments the market by disease indications, including Parkinson's, Alzheimer's, psychotic disorders, epilepsy, autism, multiple sclerosis, and brain tumors, with therapeutic and regional analysis for each. It also profiles smarket participants and competitors across North America, Europe, Asia-Pacific, and the Rest of the World.

This report is significant at the present time because the global population has grown and aged over the past 30 years, increasing exposure to environmental, metabolic and lifestyle risk factors. Consequently, there has been a notable rise in neurological conditions such as stroke, Alzheimer's disease, other dementias, and meningitis. Prevalent neurological disorders include cerebrovascular, neurodegenerative, autoimmune, spinal cord issues, intracranial tumors, and craniocerebral trauma. The growing incidence of these conditions, alongside government initiatives and ongoing research, drives market growth in the neurological field.

The factors driving the market include:

Aging Population: As people live longer, more individuals are experiencing neurological disorders like dementia and Parkinson's disease, increasing the demand for treatments.

Rising Neurological Disorders: The global incidence of neurological conditions is growing due to longer life expectancies and better diagnosis, driving the need for improved healthcare services.

Awareness Initiatives: Governments and NGOs are raising awareness about neurological disorders, reducing stigma, and advocating for better prevention and treatment.

Research and Innovation: Ongoing research initiatives are leading to new technologies and treatments in neurology.

Request a sample copy of the global market for neurology report.

Report Synopsis

Report Metric	Details
Base year considered	2023
Forecast period considered	2024-2029
Base year market size	$63.0 billion
Market size forecast	$94.8 billion
Growth rate	CAGR of 7.1% for the forecast period of 2024-2029
Segments covered	Disease Indication, Region
Regions covered	North America, Europe, Asia-Pacific, Rest of the World
Countries covered	U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Switzerland, Denmark, Belgium, the Netherlands, Sweden, Russia, China, India, Japan, New Zealand, Singapore, Malaysia, Thailand, Indonesia, South Africa, GCC Countries, Brazil, Argentina, Colombia, Paraguay, and Peru
Market drivers	• Growing Geriatric Population with Neurological Disorders • Increasing Global Incidence of Neurological Disorders • Government and NGO Initiatives in Creating Awareness • Research Initiatives in Neurology

Interesting facts:

Emerging startups:

The report addresses the following questions:

Market leaders include:

MERCK & CO. INC.
NOVARTIS AG
OTSUKA HOLDINGS CO. LTD.
SANOFI
TEVA PHARMACEUTICAL INDUSTRIES LTD.
UCB S.A.

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