Motor Neuron Disease Treatment Market Trends
Growth Drivers
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Spiking Geriatric Population – The elderly are one of the most vulnerable patient groups requiring motor neuron disease treatment. Therefore, increasing geriatric population worldwide is regarded as a major factor driving the growth of the market. According to the United Nations Department of Economic and Social Affairs' World Population Aging 2020 report, the number of people aged 65 and over worldwide in the year 2020 is estimated at 727 million. Hence, spiking aged population across the globe is estimated to be an important factor to drive the growth of the global motor neuron disease treatment market.
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Rising Prevalence of Diabetes – Diabetes, which is a chronic disease, is one of the most prevalent diseases across the globe. Diabetes damages many organs in the body, including the eyes, nerves, brain, kidneys, heart, and blood vessels. Rise in adults with chronic disease and diabetes is expected to increase the demand for motor neuron disease treatment during the forecast period. For instance, in the year 2021 it was noted that more than 530 million adults have diabetes, which is expected to rise to about 640 million by the year 2030. Hence, this is also expected to be a major factor to add to the growth of the global market.
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Rise in Research Spending – Growth in the global market during the forecast period can be further attributed to increased investment in research and development activities to continuously find more viable solutions for motor neuron disease treatment. Research reports show that global R&D spending has more than tripled in real terms since 2000, rising from about USD 680 billion to more than USD 2.5 trillion in the year 2019.
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Rising Healthcare Spending – According to the latest spending data, global healthcare spending has increased over the past two decades, effectively doubling from 8.5% in 2000 to USD 8.5 trillion in the year 2019, increasing GDP reached 9.8%. The boom will continue during the forecast period.
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Growing Incidences of Spinal Cord Injuries – It is expected that patients with chronic illnesses and disabilities, including spinal cord injuries, experience motor neuron diseases more severely, which is anticipated to drive the market growth. It was discovered that between 300,000 and 500,000 people worldwide experience spinal cord injuries every year.
Challenges
- High Cost of Motor Neuron Treatment
- Low awareness of treatments among people in low and middle-income countries
- Lack of reimbursement policies for motor neuron disease treatment in some countries
Motor Neuron Disease Treatment Market: Key Insights
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
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Base Year |
2024 |
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Forecast Year |
5.80% |
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CAGR |
USD 10.06 billion |
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Base Year Market Size (2024) |
USD 10.06 billion |
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Forecast Year Market Size (2037) |
USD 10.06 billion |
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Regional Scope |
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