BCC Research Forecasts Neurology Market to Reach $94.8 Billion by 2029
"Increased Prevalence of Chronic Neurological Conditions and Enhanced Healthcare Infrastructure Drive Neurology Market Growth in Unexplored Markets"
BOSTON, May 21, 2025 /PRNewswire/ -- According to the latest study from BCC Research, "Neurology Market: A BCC Research Overview" is estimated to increase from $67.3 billion in 2024 to $94.8 billion by the end of 2029, at a compound annual growth rate (CAGR) of 7.1% from 2024 through 2029.
This report covers the market's current and future potential and examines market drivers and constraints, pipeline medications, the competitive landscape, the regulatory picture, and the epidemiology of neurological disorders. The study segments the market by disease indications, including Parkinson's, Alzheimer's, psychotic disorders, epilepsy, autism, multiple sclerosis, and brain tumors, with therapeutic and regional analysis for each. It also profiles smarket participants and competitors across North America, Europe, Asia-Pacific, and the Rest of the World.
This report is significant at the present time because the global population has grown and aged over the past 30 years, increasing exposure to environmental, metabolic and lifestyle risk factors. Consequently, there has been a notable rise in neurological conditions such as stroke, Alzheimer's disease, other dementias, and meningitis. Prevalent neurological disorders include cerebrovascular, neurodegenerative, autoimmune, spinal cord issues, intracranial tumors, and craniocerebral trauma. The growing incidence of these conditions, alongside government initiatives and ongoing research, drives market growth in the neurological field.
The factors driving the market include:
Aging Population: As people live longer, more individuals are experiencing neurological disorders like dementia and Parkinson's disease, increasing the demand for treatments.
Rising Neurological Disorders: The global incidence of neurological conditions is growing due to longer life expectancies and better diagnosis, driving the need for improved healthcare services.
Awareness Initiatives: Governments and NGOs are raising awareness about neurological disorders, reducing stigma, and advocating for better prevention and treatment.
Research and Innovation: Ongoing research initiatives are leading to new technologies and treatments in neurology.
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Report Synopsis
Report Metric | Details |
Base year considered | 2023 |
Forecast period considered | 2024-2029 |
Base year market size | $63.0 billion |
Market size forecast | $94.8 billion |
Growth rate | CAGR of 7.1% for the forecast period of 2024-2029 |
Segments covered | Disease Indication, Region |
Regions covered | North America, Europe, Asia-Pacific, Rest of the World |
Countries covered | U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Switzerland, Denmark, Belgium, the Netherlands, Sweden, Russia, China, India, Japan, New Zealand, Singapore, Malaysia, Thailand, Indonesia, South Africa, GCC Countries, Brazil, Argentina, Colombia, Paraguay, and Peru |
Market drivers | • Growing Geriatric Population with Neurological Disorders • Increasing Global Incidence of Neurological Disorders • Government and NGO Initiatives in Creating Awareness • Research Initiatives in Neurology |
Interesting facts:
- In 2024, biopharma company UCB announced that BRIVIACT (brivaracetam) had been approved for use as a monotherapy and adjunctive treatment for partial onset seizures in adult epileptic patients, with or without secondary generalization, by the Japanese Ministry of Health, Labour, and Welfare (MHLW). The European Medicine Agency (EMA) has validated a Type II application for epcoritamab (TEPKINLY) for the same indication.
- In December 2024, H. Lundbeck A/S acquired Longboard Pharmaceuticals, a clinical-stage biopharmaceutical developer of innovative medications for neurological conditions. Lundbeck's acquisition of Longboard is a strategic milestone that advances its objective of developing a neuro-rare disease franchise.
Emerging startups:
- Harmony Biosciences
- Evox Therapeutics
- QurAlis
- Passage Bio
The report addresses the following questions:
The global neurology market was valued at $63.0 billion in 2023 and is expected to reach $94.8 billion by the end of 2029, at a CAGR of 7.1% from 2024 to 2029.
Government and NGO initiatives designed to increase awareness of the increasing global incidence of neurological disorders, the growing geriatric population with neurological disorders, and research initiatives in neurology.
The global neurology market is segmented based on disease indication and region.
The multiple sclerosis segment will dominate the market for the next four years.
North America holds the largest share of the market.
Market leaders include:
- ABBVIE INC.
- ALPHA COGNITION
- BIOGEN
- BOEHRINGER INGELHEIM INTERNATIONAL GMBH
- BRISTOL-MYERS SQUIBB CO.
- EISAI CO. LTD.
- F. HOFFMANN-LA ROCHE LTD.
- H. LUNDBECK A/S
- LILLY
- MERCK & CO. INC.
- NOVARTIS AG
- OTSUKA HOLDINGS CO. LTD.
- SANOFI
- TEVA PHARMACEUTICAL INDUSTRIES LTD.
- UCB S.A.
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Breakthrough Therapies: Market Dynamics and Investment Opportunities: This report explores the potential risks and benefits of breakthrough therapy designation (BTD), comparing fast-track drug development approaches and highlighting the opportunities and challenges in creating breakthrough therapies. It covers therapy areas for cardiovascular, neurology, rare diseases, and oncology, and analyzes leading companies, their products and their revenues.
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