Top 6 Companies in the Neurological Disease Treatment Market in 2024

The neurological disease treatment market is expected to grow at a CAGR of 5.7% during the forecast period of 2024-2032, driven by the increasing prevalence of neurological disorders across the 8 major markets.

Treatment of neurological disorders primarily involves symptom management, functional restoration, and improvement in quality of life. Strategies include pharmacological interventions, physical therapy, cognitive behavioral therapy (CBT), pain management techniques, and lifestyle modifications. Rehabilitation is essential to help a patient regain lost functions. Therapeutic approaches are focused on symptom alleviation and prevention of further decline. Neurological conditions can cause difficulties in movement, cognition, or behavior due to their impact on the brain and nervous system. Common types of such conditions include neurodegenerative diseases like Alzheimer's disease and Parkinson's disease, seizure disorders such as epilepsy, strokes, migraines, and multiple sclerosis. The treatment modalities used involve pharmacological therapies and special intervention techniques.

The global market for neurological disease treatment is expanding rapidly because of a rising incidence of neurological disorders, especially among elderly individuals. Advancements in diagnostic tools, therapies, and medical devices are improving patient outcomes and driving the demand for treatments. This market encompasses pharmaceuticals, medical devices, and neurostimulation therapies, contributing to its continuous expansion. Some of the factors fuelling growth in the market are increasing investment in healthcare, rising awareness about neurological conditions, and rapid innovation in drug development and methodology of treatment. Pharmaceutical companies and medical device manufacturers continue to find new products and treatments for conditions that will further increase market growth in both developed and emerging regions.

In September 2024, the US Food and Drug Administration approved Aqneursa, or levacetylleucine, for adults and pediatric patients with Niemann-Pick disease, Type C (NPC) to treat neurological signs and symptoms. This approval came two weeks after another drug for NPC was approved, reflecting the FDA's commitment to advancing innovative therapies for rare diseases. Such regulatory approvals are anticipated to drive growth in the global market for rare disease treatments, particularly for neurological conditions.

Let’s explore the profile of top companies leading the neurological disease treatment market in 2024.

1.    AbbVie Inc.

AbbVie is one of the biggest biopharmaceutical firms in the world and covers research areas such as immunology, oncology, neuroscience, and eye care. In October 2024, the company disclosed its agreement to buy Aliada Therapeutics, a move considered crucial in the future development of neurological disorder treatment. Aliada's patented blood-brain barrier-penetrating technology, featured in its lead investigational therapy ALIA-1758, has the potential to transform Alzheimer's treatment by effectively targeting amyloid plaques. This innovation addresses a significant unmet need in the management of central nervous system diseases.

2.    Merck & Co., Inc.

Merck & Co., Inc. is the global healthcare leader and successful in the treatment of neurological disorders. The division for neuroscience at Merck focuses on developing new treatments for Alzheimer's, Parkinson's, and schizophrenia. They focus on disease -modifying strategies, along with symptomatic relief while working in collaboration with key organizations to further the cause. The company's research focuses on improving patients' quality of life and arresting neurodegenerative disease progression.

3.    F. Hoffmann-La Roche Ltd

Roche is the leader in the therapeutic market for neurological diseases, focusing on conditions such as Parkinson's. With over 50 years of experience, Roche develops therapies aimed at the biology of neurodegenerative diseases to reverse or halt disease progression; hence, it pushes innovations forward in its treatments to continue improving results for millions worldwide who suffer from neurological conditions.

4.    Biogen

Biogen, founded in 1978, is a biotechnology firm, and leader in neurology disorders. Its pipeline includes advanced therapies, such as LEQEMBI for Alzheimer’s treatment and tau-targeting drugs aimed at addressing tau-related pathologies. The company also focuses on treatments for multiple sclerosis (MS), spinal muscular atrophy (SMA), and other neurological conditions, reinforcing its position as a global leader in this category of medicines.

5.    Pfizer Inc.

Pfizer Inc. is one of the world's leading biopharmaceutical companies dedicated to developing treatments for diseases that affect the nervous system. They work towards developing innovative therapies with the potential to cure Alzheimer's disease, Parkinson's disease, and multiple sclerosis. They carry out pioneering research and development, aiming to improve outcomes by targeting the core of neurological disorders through innovative drug formulation and advanced therapy.

6.    Otsuka Holdings

Otsuka Pharmaceutical is a leading company in psychiatry and neurology. In September 2023, the company acquired Mindset Pharma. Mindset Pharma is a firm with specializations in product development for serotonin 5-HT2A receptor agonists for psychiatric and neurological diseases. This acquisition brings innovative and promising therapies to treat treatment-resistant depression and post-traumatic stress disorder that form significant unmet needs within the neurological market and will make Otsuka stronger globally.