“The Global Parkinson’s Treatment Market growing at a significant CAGR over the seven years of forecast years 2019-2025 to reach US$ 5,378.2 Mn by 2025 owing to surge in prevalence of Parkinson’s disease around the globe”
The global Parkinson’s treatment market was valued at US$ XX Mn in 2018 and increasing at a significant CAGR over the forecast years due to increase in the prevalence of Parkinson’s disease around the world. For instance, according to Parkinson’s Foundation, more than 10 Mn people are living with Parkinson’s disease around the globe and approximately 4% of people with more than 50 years are newly diagnosed with the disease every year. Moreover, increase in the R&D expenditure for the development of newer therapeutics, surge in geriatric population, fundraising from public and private sectors for R&D activities, and rise in healthcare expenditure are anticipated to boost the global Parkinson’s treatment market over the forecast years. However, high cost of treatment, adverse effects with drugs due to long term treatment, lack of disease awareness in underdeveloped countries are hamper the growth of Parkinson’s treatment market over the forecast timeframe
Global Parkinson’s treatment market segmented on the basis of drug class, distribution channel, and region
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Azoles Dominate the Global Parkinson’s Treatment Market
Based on the drug class, global Parkinson’s treatment market segmented into monoamine oxidase inhibitors, dopamine precursors, catechol-o-methyltransferase inhibitors, peripheral decarboxylase inhibitors, and others. Among all the drug classes, dopamine precursors dominated the global Parkinson’s treatment market in 2018 and the same trend is expected over the forecast years owing to wide usage of levodopa and carbidopa due to its more potency compared with other drugs. Moreover, increase in the R&D for the development and launch of newer formulations also surge the market over the forecast timeframe. For instance, in January 2015, Impax Laboratories, Inc. received FDA approval for Rytary, an extended-release oral capsule of carbidopa and levodopa for Parkinson’s treatment.
North America Leads the Global Parkinson’s Treatment market
PBI’s global Parkinson’s treatment market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2014-2018 and expected to dominate over 2019-2025 owing to surge in the prevalence of Parkinson’s disease in U.S. and Canada. For instance, according to Parkinson’s Foundation, approximately 60,000 people diagnosed with Parkinson’s disease each year. Moreover, favorable reimbursement policies, increase in the R&D activities for the development of newer therapeutics, and surge in healthcare expenditure are bolster the market over the forecast years. Asia Pacific Parkinson’s treatment market projected to exhibit significant growth due to rapid growth in aging population and surge in incidence of Parkinson’s disease in the region.
Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players
Global Parkinson’s treatment market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.
- For instance. In January 2015, europore Therapies Inc. ntered into a commercialization agreement with UCB S.A, for commercialization of NPT200-11, a small molecule drug used to treat the Parkinson’s disease
Key player’s profiles in the report are Salix Pharmaceuticals, GlaxoSmithKline Plc., Wockhardt Limited, Impax Laboratories, Inc., Novartis AG, Mylan N.V, Teva Pharmaceutical Industries Ltd., Cipla Inc., Par Pharmaceutical, and Apotex Inc
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Precision Business Insights (PBI) in its report titled “Global Parkinson’s Treatment Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
By Drug Class
- Monoamine Oxidase Inhibitors (MAO)
- Dopamine Precursors
- Catechol-o-methyltransferase Inhibitors (COMT)
- Peripheral Decarboxylase Inhibitors
- Others (Anticholinergics, Antihistaminics)
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
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