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(Health-NewsWire.Net, October 28, 2021 ) Rare Neurological Disease Treatment market size is forecast to reach $169.3 billion by 2026, growing at a CAGR of 8.1% during the forecast period 2021-2026. Rare Neurological Diseases that target the nervous system of human body include brain, spinal cord. Rare neurological diseases (RNDs) remain vastly underdiagnosed, and adequate care is often unavailable. There are various rare neurological disorders such as Aicardi syndrome, Aicardi-Goutieres syndrome, Reflex Sympathetic Dystrophy Syndrome, Battaglia-Neri syndrome, Creutzfeldt Jakob Disease, Agnosia and many others. There are various therapies used for the treatment of Rare Neurological Diseases such as Cognitive behavioral therapy, Interpersonal psychotherapy, Cyberknife and others. Increasing prevalence of rare neurological diseases coupled with growing favourable government policies are the major factors driving the growth of the market. Increasing research & development activities and enhancing healthcare infrastructure is set to further enhance the overall market development of the Rare Neurological Disease Treatment Market for the period 2021-2026.
Rare Neurological Disease Treatment Market Segment Analysis – By Disorders
Aicardi syndrome held the largest share in the Rare Neurological Disease Treatment Market in 2020 and is estimated to grow at a CAGR 8.7% during the forecast period 2021-2026. Aicardi syndrome is extremely rare neurological disorder. Aicardi syndrome is characterized by the absence or underdevelopment of tissue linking the left and right halves of the brain. They have seizures in childhood which lead to chronic seizures (epilepsy), which can be difficult to control. The clinical presentation, brain scans, and ophthalmology exam are used to make the diagnosis of Aicardi syndrome. Such characteristics that might be seen during a prenatal ultrasound test or fetal MRI increase the risk of a diagnosis. Aicardi syndrome is estimated to register the higher CAGR over the period 2021-2026.
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Rare Neurological Disease Treatment Market Segment Analysis – By Therapy
Cognitive Behavioral Therapy held the largest share in the Rare Neurological Disease Treatment Market in 2020 and is estimated to grow at a CAGR 9.3% during the forecast period 2021-2026. Cognitive Behavioral Therapy is very effective and safe for neurological diseases treatments. CBT assists in being mindful of incorrect or pessimistic thoughts so that one can see difficult circumstances more accurately and react to them more effectively. Cognitive Behavioral Therapy are estimated to register the higher CAGR over the period 2021-2026.
Rare Neurological Disease Treatment Market Segment Analysis – By Geography
North America dominated the Rare Neurological Disease Treatment Market with a major share of 40.0% in 2020. This is attributed to the early diagnosis and high purchasing capacity, Extensive availability of advanced technology, improved repayment strategies and rising prevalence of rare neurological disorder is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the development of health infrastructures and increasing awareness of health care is also increasing the growth of the market in this region.
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Rare Neurological Disease Treatment Market Drivers
Increasing Prevalence of Rare Neurological Disorder
Increasing prevalence of rare neurological disorder is increasing the growth of the Rare Neurological Disease Treatment Market. This is attributed to the development of the technologically advanced drug with extended longevity. According to National Institute of Health (NIH) Report, in 2019 around 40 million people suffer from rare neurological disorder in U.S. Thus, increasing the growth of the Rare Neurological Disease Treatment Market during the forecast period 2021-2026.
Technological Advancements
Technological advancements are increasing the growth of the Rare Neurological Disease Treatment Market. Technological advancements have enabled the manufacturers to develop new and rapidly expanding treatment options for patients with rare neurological disorders. Increasing advancements in various therapies for treatment of rare neurological disorders encompass Cognitive behavioral therapy, Interpersonal psychotherapy, Cyberknife. Thus, increasing the growth of the Rare Neurological Disease Treatment Market during the forecast period 2021-2026.
Rare Neurological Disease Treatment Market Challenges
Lack of Skilled and Trained Healthcare Professionals
Some of the factors that are set to impede the growth of the Rare Neurological Disease Treatment Market are lack of skilled and trained healthcare professionals. High cost of Rare Neurological Disease Treatment , lack of awareness about rare disorders among the people and lack of compensation policy, is also set to hinder the growth of the market.
Rare Neurological Disease Treatment Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Rare Neurological Disease Treatment Market. In 2020, the Rare Neurological Disease Treatment Market share is consolidated by the top ten players present in the market. The Rare Neurological Disease Treatment Market, top 10 companies are Bayer AG, Sanofi, Pfizer Inc., Novartis AG, Merck & Co. Inc., CSL Ltd., Johnson & Johnson Services Inc., Allergan plc., Aquestive Therapeutics Inc. and Kedrion Biopharma Inc.
Key Takeaways
North America dominated the Rare Neurological Disease Treatment Market in 2020 owing to the wide availability of advanced technologies and favourable reimbursement policies. The Rare Neurological Disease Treatment Market scope for different regions will be provided in the final report.
Increasing healthcare expenditure and technological advancement along with the new innovations are likely to aid the market growth of the Rare Neurological Disease Treatment Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Rare Neurological Disease Treatment Market report.
Lack of skilled and trained healthcare professionals and high cost of treatment is poised to create the hurdles for the Rare Neurological Disease Treatment Market.
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