New York, United States, May 27, 2022 (GLOBE NEWSWIRE) — Neurodegenerative diseases are a large and diverse group of disorders characterized by progressive deterioration of the function and structure of the central nervous system or enteric nervous system. Neurodegenerative diseases, such as Parkinson’s Disease, Multiple Sclerosis, Alzheimer’s Disease, and Huntington’s disease, have risen globally. Consequently, the increasing prevalence of these diseases is the primary factor driving market growth, with the rising geriatric population contributing to this growth. The NIH projects that by the year 2030, approximately 1.2 million Americans will have Parkinson’s disease. It is the second most prevalent form of neurodegeneration in the United States.
In addition, according to Alzheimer’s Disease International, there will be over 50 million people with dementia worldwide in 2020. It is predicted that this figure will be twice every 20 years, reaching 82 million in 2030 and 152 million in 2050. In addition, the majority of the increase will occur in developing nations. By 2050, 71 percent of people with dementia will reside in low- and middle-income countries, up from 60 percent today. In China, India, and the South Asian and western Pacific regions, the elderly population has increased at the fastest rate. Consequently, the increasing prevalence of dementia is anticipated to stimulate market expansion in the coming years.
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