Neurodegenerative diseases therapeutics market to grow by $21.29b by 2028

It is driven by a strong drug development pipeline.

The global market for neurodegenerative diseases therapeutics is projected to grow by $21.29b from 2024 to 2028, at a compound annual growth rate of 8.51%, according to Technavio. 

This growth is driven by a strong drug development pipeline and the increasing number of elderly individuals worldwide. 

The rising number of elderly people, expected to nearly double from 12% to 22% of the global population between 2015 and 2050, is increasing the incidence of neurological disorders such as Alzheimer's and Parkinson's. 

Innovations driving the market include battery-powered and automatic cleaning devices, which are popular for their convenience and compatibility with smart homes. 

Additionally, AI, IoT, and robotics are being used in commercial care settings for cleaning robots and advanced sensors. Hospitals are investing in robotic cleaners with advanced sensors and cloud robotics to ensure hygiene. 

However, the market faces challenges due to the lack of disease-modifying therapies. 

Looking ahead, the focus will be on reducing human labor through vision technologies and robotic innovations, with key features including interoperability, smart speakers, and virtual assistants to assist elderly patients, alongside effective cleaning solutions incorporating vacuum suction and magnets. 

The market is set for significant growth as the healthcare industry continues to advance treatments for neurodegenerative diseases.