The neurological disorder drugs market in Europe has just a handful of players who account for most of the share in the market. This makes the competitive landscape consolidated. Some such players are Astra Zeneca, GlaxoSmithKline plc., Merck & Co., Bayer AG, and Novartis AG. As per a report by Transparency Market Research, these top five players accounted for a substantial 60.5% in the overall market in 2015. Currently these players are focused on enhancing their geographical footprints and bolstering their pipeline with different drug class so as to gain greater foothold in the market.
As per the research report, the market for neurological disorder drugs in Europe will likely expand at a CAGR of 6.4% from 2016 to 2024 to become worth US$32.0 bn from US$18.3 bn in 2015.
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Cambridge, which is Europe’s nerve-center for biotech boom, has been seeing a lot of research in the field of neurological drugs disorder market. The latest initiative in that direction has been developing two experimental drugs that could become the first treatments for progressive brain disorder known as Huntington’s disease. Efforts such as these have boded well for the market so far.
In fact, the alarming instances of brain-altering diseases has drawn numerous pharmaceutical companies into the neurological disorder drugs market in the recent past. With substantial amounts of money being ploughed into research and development of innovative and effective drugs to treat disorders such as Alzheimer’s disease, epilepsy, cerebrovascular disease, Parkinson’s disease, multiple sclerosis, etc. the market is poised to progress at a good clip in the foreseeable future. Growth will also be stoked by the rising geriatric pool in Europe.
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The different types of commonly occurring neurological disorders in Europe are Alzheimer’s disease, epilepsy, Parkinson’s disease, cerebrovascular disease, and multiple sclerosis, among others. Of them, the cerebrovascular disease contributed the most to revenue in 2015. According to the World Health Organization (WHO), cerebrovascular diseases can manifest as a stroke or migraine or headache and is a major source of worry in many patients. Almost 80% of patients suffering from cerebrovascular diseases across the European Union exhibit these symptoms.
Depending upon geography, the market for neurological disorder drugs in Europe can be classified into Germany, Netherlands, France, Italy, Spain, U.K., Russia, Switzerland, Poland, and the Rest of Europe. Germany, among them, accounts for a substantial share and is trailed closely by France. The two countries will continue dominating the market in the near future on account of the increasing instances of neurological disorders and improving the awareness about the diseases owing to initiatives of support groups and government. The growing elderly population in Germany will also contribute to the market.
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