The size of the MEA Neurotherapeutics Market is predicted to be growing at a sluggish CAGR between 2022 to 2027.
The growth of the neurotherapeutics market in MEA can be attributed to the increasing incidence of neurological disorders, including brain aneurysms, Huntington's disease, brain tumors, epilepsy, memory impairment, multiple sclerosis, Alzheimer's disease (AD), Parkinson’s disease, peripheral neuropathy, postherpetic neuralgia, spinal cord tumor, and stroke.
Most neurological disorders cause gradual deterioration in physical and mental abilities, disrupting daily life. Hence, diseases require immediate and comprehensive care to limit brain damage and other complications. Various factors can cause neurological disease like lifestyle changes, genetic disorders, congenital health issues, other trauma, etc. The number of AD cases is projected to increase to 131.55 million by 2050, with the majority coming from low- and middle-income countries (Alzheimer's disease International). The prevalence of dementia in Saudi Arabia is estimated at 6.48%. Epilepsy affects 4.48 million people in sub-Saharan Africa, while lifelong epilepsy affects 5.44 million. The prevalence of active epilepsy peaks in the 20-29 age group at 11.57 / 1000 and again in the 40-49 age group at 8.22 / 1000. According to the latest WHO data, deaths from Parkinson's disease reported in the UAE have reached over 38 or 0.28% of all deaths.
Rising healthcare spending, increasing investments to reduce neurological disorders, and high attention to diagnosis and devices are projected to drive the overall growth of the MEA neurotherapeutics during the forecast period.
High costs associated with this disease are projected to hamper the growth of this market. In addition, deep brain stimulation is limited to patients and highly refractory conditions, generally as part of multidisciplinary treatment modalities and clinical research, which is also projected to limit the growth of the market. But the side effects of neurotherapeutics, such as allergic reaction, numbness, and tingling sensation, may restrict the market to some extent.
This research report on the MEA neurotherapeutics market has been segmented and sub-segmented into the following categories.
By Distribution channels:
Geographically, the Middle East is the most dominant region in the MEA neurotherapeutic market due to significant and steady technological advancements. Meanwhile, the African and sub-Saharan regions are expected to register slow growth and represent the least share in the overall market.
The regional market in Saudi Arabia is forecasted to occupy a major share in the MEA market during the forecast period due to the presence of the best market players, increased awareness among people of various neurological diseases, funds for research and development, supportive government initiatives, the growth of the neurotherapeutic drugs manufacturing with the latest development. This region also has an emerging incidence of neurological disorders. Epilepsy is a common neurological disorder found in Saudi Arabia, with a prevalence of 6.89 per 1000. The total number of cases captured per year is 45, resulting in primary CNS neoplasms in Saudi Arabia is 3.18 / 100,000 for the general population and 2.98 / 100,000 for Saudi nationals.
Nigeria, Egypt, and Uganda were found to have the highest number of CNS tumor cases in Africa. This increased prevalence of neurological diseases, the rapid growth of the elderly population, growing public awareness will drive the neurotherapeutics market in the African region.
KEY MARKET PLAYERS:
Companies playing a notable role in the Middle East and Africa Neurotherapeutics Market are Abbott Laboratories, Inc., Becton, Novartis AG, Dickinson and Company, Pfizer, Inc., Johnson & Johnson, Biogen, Inc., GlaxoSmithKline, Inc., AstraZeneca plc, Sanofi-Aventis, Spiegelberg, Stryker, Covidien, Medtronic, GE healthcare, and Merck & Co.
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