The growth of the market is driven by factors such as the rising prevalence of rare neurological diseases, increasing awareness about rare diseases, and robust pipeline drugs in the North America region. However, higher cost of rare neurological disease treatments is likely to restrain the market growth to a certain extent.
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 National Institutes of Neurological Disorders and Stroke in 2019, 7,000 rare neurological diseases have been registered in the US. Additionally, according to the same study, these conditions are responsible for significant number of morbidity and mortality. Additionally, increasing prevalence of rare neurological diseases is expected to drive the growth of the during the forecast period.
Rapid developments in healthcare and drug discovery are leading to the introduction of new therapeutic solutions for the treatment of rare neurological diseases. Authorities such as World Health Organization, National Institute of Neurological Disorders and Stroke, and National Institutes of Health are taking constructive steps to encourage the research activities to find a remedy for rare neurological disease treatment. For instance, Neurological disorders, which include more than 1,000 conditions that disrupt the brain and nervous system, affect an estimated 100 million Americans, nearly one third of the US population. With the annual cost of neurological disorders already approaching $800 billion, new treatments that both modify and prevent neurological disease are more critical than ever. Such increasing awareness and developments for rare neurological diseases are likely to boost the growth of the rare neurological disease treatment market in North America during the forecast period.
The increasing use of rare neurological disease treatment in medical treatment cases in North America is expected to drive rare neurological disease treatment market the growing pharmaceuticals industry in the country create a lucrative opportunity and the presence of an established market for rare neurological disease treatment.