Aging Population Drives Neurology Market to US$94.8 Billion

The global neurology market is expected to grow from US$67.3 billion in 2024 to US$94.8 billion by 2029, according to a new report from BCC Research. The forecast reflects a compound annual growth rate of 7.1% driven by demographic shifts, increased disease prevalence, and expanding healthcare access.

"The continued aging of the population, rising rates of neurological disorders, and enhanced diagnosis and treatment capabilities are shaping the neurology market globally," notes the report. It also highlights that government and NGO-led awareness efforts are contributing to early diagnosis and demand for neurological care.

The research emphasizes that the global increase in life expectancy and exposure to risk factors such as environmental and metabolic conditions have made neurological disorders more prevalent. Conditions such as stroke, Alzheimer’s disease, Parkinson’s disease, and meningitis are contributing to the market’s expansion. The study outlines that autoimmune, cerebrovascular, neurodegenerative, and trauma-related conditions are among the most frequently reported diagnoses.

Market segmentation includes disease categories such as epilepsy, autism, psychotic disorders, and brain tumors. Among these, the report forecasts that multiple sclerosis will represent the largest segment over the next four years. Geographically, North America holds the largest market share, followed by Europe and the Asia-Pacific region. The study covers trends across countries including the United States, China, India, Brazil, and South Africa.

The report also tracks regulatory developments, competitive dynamics, and the impact of research pipelines. Recent milestones include the approval of BRIVIACT (brivaracetam) by Japan’s Ministry of Health for partial-onset seizures and the European Medicines Agency’s validation of a Type II application for epcoritamab.

In corporate activity, Lundbeck’s acquisition of Longboard Pharmaceuticals in December 2024 is noted as a strategic move to expand its neuro-rare disease portfolio.

In addition to established pharmaceutical companies such as Biogen, Novartis, Roche, and Sanofi, the market includes emerging players like Harmony Biosciences, Evox Therapeutics, QurAlis, and Passage Bio. These companies are contributing to innovation in both rare and widespread neurological conditions.

The report underscores that while much of the growth is centered in mature markets, there is increasing attention to underpenetrated regions where neurological care infrastructure is still evolving. BCC Research projects that these markets will be key growth drivers through 2029.