According to Future Market Insights, the neurotrophins market is forecast to attain a monetary value of US$ 5 billion by the conclusion of 2023. The worldwide demand for Neurotrophins is expected to increase at a CAGR of 7.2% over the next decade, reaching an estimated value of US$ 10 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 5 billion |
| Projected Market Value in 2033 | US$ 10 billion |
| Growth Rate (2023 to 2033) | 7.2% CAGR |
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The neurotrophins market has seen a surge in growth in recent years due to the increasing demand for better treatments for neurological disorders. There are several trends that are driving this growth, including:
This Neurotrophins market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study.
This study is one of the most comprehensive documentation that captures all the facets of the evolving Neurotrophins market.
The neurotrophins are basically neural factors that helps in the growth, survival and programmed cell death of the neurons. Neurotrophins also regulate axon growth, cell fate decisions, dendrite pruning, and the expression of proteins that are important for basic neurological function. Neurotransmitters and various ion-channels help in the proper functionating of the neuronal factors.
Neurotrophins has been widely used for treating various chronic neurological disorders like Alzheimer’s disease, Parkinson's Disease etc. by regulating the cell death pathway. CD11b integrin have been upregulated in peripheral neutrophil. These neutrophils further help in adhesion and migration of neutrophils.
These activated neutrophils help in controlling the severity of the disease. Nerve growth factor (NGF), brain-derived neurotrophic factor (BDNF), neurotrophin-3 are some of the types of neurotrophins that help in the proper functioning of neurons.
Increasing prevalence of chronic neurological diseases is the primary factor driving the neurotrophins market. Also, rising awareness regarding mental health may upsurge the demand for neurotrophins market. Moreover, the neurological disease increases with age, about 5-6% of people above 65 years are more susceptible towards chronic neurological diseases.
Hence, rising geriatric population across the globe will drive the neurotrophic market. Additionally, the availability of funding for research and drug development to various pharmaceutical industries in developed economies will also propel the growth of neurotrophins market.
On the other hand, lack of high healthcare infrastructure and may deter the growth of neurotrophins market in under developing economies. Neurotrophins works by slowing cell death which can lead to disease onset or clinical decline.
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Based on product type, brain growth factor segment will capture the highest revenue share. This is due to increased adoption by various doctors for treating chronic neurological diseases. Among all application of neurotrophins, alzheimer’s disease segment is expected to generate major revenue for global neurotrophins market due to increasing prevalence of the disease.
Among all end user, the hospital segment is anticipated to grow at a significant rate over the forecast period due to growing hospital infrastructure in the developed nations.
North America will show the high revenue for the neurotrophins market, since the prevalence of chronic neurological disease is more and also the people are more concern about the and brain health. After North America, the Europe region will show the robust growth for the neurotrophins market in the near future, due to availability of better hospital infrastructure and due to regional government initiatives.
In Asian countries like China, the rate of the neural disease is high due to the lifestyle pattern, this may show the additional demand for the neurotrophins to treat neurological diseases. The Middle East and Africa are expected to be least lucrative region for neurotrophins market due to lack of awareness about the brain health.
Examples of some of the market participants in Neurotrophins market include Janssen Biotech, Inc., Johnson & Johnson, Lonza Groups, FibroGen, Inc., Scil Proteins GmbH, Merck Serono, Scil Proteins GmbH, PeproTech, Inc., GE Healthcare and others.
Prodcut launch is the major strategy followed by the manufacturers to compete in the neurotrophin market. The USA Food and Drug Administration on August 2018, approved first drug, Oxervate, for the treatment of neurotrophic keratitis, a rare disease which mainly affects the cornea.
The research report on neurotrophins market presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report on Neurotrophins market provides analysis and information according to market segments such as geographies, application, and industry.
The report on neurotrophins market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global neurotrophins market is classified on the basis of product type, application, and end user.
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Neurotrophins Market
