Neurotrophins Market size is anticipated to reach USD 20 billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of neurotrophins was over USD 10 billion. The neurotrophin market is expected to grow as the aging population increases, leading to a higher prevalence of neurodegenerative diseases. This growth is driven by the demand for innovative treatments and therapies. The market is competitive, with multiple pharmaceutical and biotechnology companies striving to develop and commercialize neurotrophin-based drugs and therapies. Companies may also be working on novel drug delivery methods to enhance the effectiveness of neurotrophin treatments.
The neurotrophins market pertains to the pharmaceutical and biotechnology sector and is related to the development and distribution of neurotrophin-related products and therapies. Neurotrophins are a family of proteins that play a critical role in the growth, development, and maintenance of neurons in the nervous system. They are of particular interest in the fields of neuroscience and neurology, as they have the potential to be used in the treatment of various neurological and neurodegenerative disorders.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~8% |
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Base Year Market Size (2023) |
~ USD 10 Billion |
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Forecast Year Market Size (2036) |
~ USD 20 Billion |
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Regional Scope |
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Type (Nerve Growth Factor, Brain-Derived Neurotrophic Factor)
The brain-derived neurotrophic factor segment in the neurotrophins market is estimated to gain the largest revenue share of 60% in the year 2036. The soaring prevalence of neurological disorders is a primary growth driver for the BDNF segment. These conditions often involve reduced BDNF levels, contributing to neuronal degeneration. The World Health Organization (WHO) reports a 25% increase in the prevalence of neurological disorders globally, including conditions like Alzheimer's and Parkinson's. The BDNF segment in the market is experiencing significant growth, propelled by increasing neurological disorder prevalence, advancements in BDNF-based therapies, government research investments, regulatory support, patient advocacy efforts, and international collaboration. As these growth drivers continue to shape the landscape, the BDNF segment is poised for transformative progress in the realm of neurological disorder management.
End User (Hospitals, Pharmaceutical, Research Institutions)
The hospitals segment in the neurotrophins market is expected to garner a significant share in the year 2036. Hospitals play a pivotal role in the market, serving as primary institutions for diagnosis, treatment, and care of patients with neurological disorders. The growth of this segment is influenced by several key drivers, each of which contributes to the development of advanced therapies and improved patient care. The relationship between hospitals and regulatory authorities is a significant growth driver for the hospitals segment. Regulatory support, including swift approvals for new neurotrophin-based therapies, is essential for facilitating pharmaceutical innovation. Recent approvals indicate a conducive regulatory environment that encourages hospitals and pharmaceutical companies to develop and introduce innovative treatments. These approvals are a testament to the commitment of regulatory agencies to effectively address neurological disorders and enhance patient care.
Hospitals are increasingly adopting a patient-centric approach to neurological care. This approach emphasizes not only diagnosis and treatment but also patient education, support, and empowerment. Patients with neurological disorders often require long-term care and support, and hospitals are recognizing the importance of addressing these needs.
Our in-depth analysis of the global market includes the following segments:
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Type |
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End User |
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APAC Market Forecast
The neurotrophins market in the Asia Pacific region is projected to hold the largest market share of 40% by the end of 2036. International collaboration is a driving force behind the growth of the market in the Asia Pacific region. Collaborative research endeavors bring together healthcare institutions, research organizations, and pharmaceutical companies from around the world to pool resources and knowledge. These initiatives encompass clinical trials, knowledge sharing, and the exchange of research findings. The collective efforts of healthcare institutions in the Asia Pacific region, along with their global partners, result in more comprehensive clinical trials, a broader understanding of neurological disorders, and the development of globally applicable treatments. This collaborative approach fosters a conducive environment for the expansion of the Neurotrophins market. The growth of patient advocacy groups highlights the increasing emphasis on patient-centered care. These groups work in collaboration with healthcare institutions to advocate for improved research funding, better access to treatments, and enhanced patient services. Healthcare providers in the Asia Pacific region play a vital role in the realization of patient-centric care and advocacy efforts.
North American Market Statistics
The neurotrophins market in the North America region is projected to hold the second largest share during the forecast period. Neurological disorders, including Alzheimer's, Parkinson's, and stroke, are becoming increasingly prevalent in North America. The aging population and changes in lifestyle factors contribute to the growing burden of these conditions. As a result, there is a higher demand for innovative therapies that leverage neurotrophins to stimulate nerve growth and repair. According to the National Institute on Aging, over 5 million Americans are living with Alzheimer's disease, and this number is expected to triple by 2050. Hospitals, research institutions, and pharmaceutical companies in North America are responding to this rising demand by expanding their neurological departments, investing in cutting-edge diagnostic tools, and conducting research to develop neurotrophin-based therapies. The collective efforts of healthcare institutions in North America, along with their global partners, result in more comprehensive clinical trials, a broader understanding of neurological disorders, and the development of globally applicable treatments. This collaborative approach fosters a conducive environment for the expansion of the neurotrophins market.
Author Credits: Radhika Gupta, Shivam Bhutani
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