North America Neurotherapeutics Market

The size of the North America Neurotherapeutics Market is estimated to be growing at a promising rate between 2022 to 2027. North America has the highest share in the market due to top market players and significant technological advancements.

The growth of the neurotherapeutics market in the North American region is expected to be majorly driven by the factors such as an increase in the incidence of neurological disorders such as Alzheimer’s, Parkinson’s, neurological cancers across North America. Also, the rapid advancements in healthcare are expected to support the market growth. 

Other factors such as rising awareness among the people about the various neurological disorders and the increasing healthcare expenditure are fuelling the market growth. In addition, the growing geriatric population is one of the significant growth contributors of the Neurotherapeutics market because the senior population is vulnerable to brain disorders; therefore, the life expectancy of the people is expected to boost the market growth.

On the other hand, the factors such as the growing population, changing lifestyles, associated congenital health problems, genetic disorders, and other traumas significantly influence market growth.  The increasing population and the life expectancy of the people are expected to drive market growth. DBS is becoming more popular as a therapeutic option for drug-resistant movement disorders such as Parkinson's disease, dystonia, and tremor. Deep brain stimulation involves implanting a device that stimulates the parts of the brain that govern movement. The increasing prevalence of neurological illnesses that result in paralysis or impairment is one of the primary reasons driving market expansion.

Increasing investments and funding by the key market players and government in research and development activities are expected to provide lucrative growth opportunities for market growth.  To gain a competitive advantage over the marketplace, the key players in the region are adopting various market strategies such as partnerships, mergers, and acquisitions. These strategies also strengthen the regional market growth. Furthermore, with favorable reimbursement policies, the FDA has approved the insertion of a brain implant to treat tremor symptoms. These factors are also expected to drive the neurological movement disorders market forward.

However, the presence of a complex regulatory framework and lack of proper reimbursement policies in some of the areas of the North American region is expected to restrain the market growth. 

This research report on the North American neurotherapeutics market has been segmented and sub-segmented into the following categories.

By Treatment:

• Neurologic drugs
  • Oral administration
  • Injections
• Neurologic devices
  • Electroconvulsive Therapy (ECT)
  • Vagus Nerve Stimulation (VNS)
  • Transcranial magnetic stimulation
  • Deep Brain Stimulator

By Disorders:

• Central Nervous System (CNS) Disorders
• Peripheral Nervous System (PNS) Disorders
• Autonomous Nervous System (ANS) Disorders

By Distribution channels:

• Hospitals
• Neurotherapeutic Centre
• Clinical research organizations
• Clinics

By Country:

• The United States
• Canada
• Rest of North America

Regionally, the North American market dominated the global neurotherapeutics market in 2020, and it is anticipated to witness a significant share during the forecast period. The regional market growth is projected to be fuelled by the availability of advanced healthcare infrastructure, high healthcare spending, and favorable reimbursement policies. In addition, the presence of the largest economies such as the United States and Canada are significantly contributing to the North American regional market growth. 

The United States accounted for the largest share of the market, and it is most likely to continue its dominance throughout the forecast period. The proliferation of neurological disorders, a better understanding of the nature of neurological diseases, technological advancements in healthcare sectors, and high healthcare spending are propelling the market growth. 

The Canadian market is projected to record a significant share during the forecast period. Increasing investments, supportive government policies, improving the healthcare sector, and increasing prevalence of neurological disorders are surging the market growth. 

KEY MARKET PLAYERS:

Companies operating in the North America 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.