Parkinson’s Disease Drugs Market to grow with a CAGR of 7.50%
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Parkinson’s Disease Drugs Market.
According
to TechSci Research report, “Global Parkinson’s Disease Drugs Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Parkinson’s Disease
Drugs Market has valued at USD 4.80 billion in 2022 and is anticipated to
witness an impressive growth in the forecast period with a CAGR of 7.50% through
2028. This can be due to collaborations and partnerships among leading
companies with a diverse approach to merge the expertise of individual
companies and to strengthen their position in the market.
Global
expansion serves as a driver for the Global Parkinson's Disease Drugs Market.
Expanding into new geographic regions and markets can provide pharmaceutical
companies with opportunities for growth and increased sales of Parkinson's
disease drugs. Expanding into new countries or regions with growing healthcare
markets can lead to increased sales and revenue. As populations age and
healthcare access improves in various parts of the world, the demand for
Parkinson's disease drugs is likely to increase. Global expansion can provide
access to diverse patient populations for clinical trials and research. This is
essential for testing the safety and efficacy of new Parkinson's disease drugs
and obtaining regulatory approvals. Some regions are harmonizing their
regulatory frameworks with international standards, making it easier for
pharmaceutical companies to gain approval for their products. Streamlined
regulatory processes can accelerate market entry.
The
Covid-19 epidemic has had a large effect on the market. The COVID-19 pandemic
has relatively little of an impact on the world market for Parkinson's disease
medications. The epidemic has had a direct impact on the supply and demand for
Parkinson's medications, as well as on businesses and financial markets. It has
also disturbed the distribution system. To determine the effect of Covid-19 on
PD patients, however, there have been more clinical trials and extensive
research projects.
In
May 2022, For the treatment of motor fluctuations in patients with advanced
Parkinson's disease (PD), AbbVie has submitted a New Drug Application (NDA) to
the U.S. Food and Drug Administration (FDA) for ABBV-951
(foscarbidopa/foslevodopa). The goal of ABBV-951 is to offer a unique,
continuous, 24-hour subcutaneous delivery of CD/LD. It provides the potential
for improvement in motor fluctuations in patients with advanced Parkinson's
disease, a chronic, progressive neurological disorder caused by the loss of
dopamine-producing brain cells.1 Parkinson's disease is primarily characterized
by tremor, muscle rigidity, sluggish movement, and balance issues. In
Parkinson's disease (PD), patients and their healthcare professionals have the
same objective: to increase the amount of "On" time, which refers to
the time when symptoms are well-controlled and free of dyskinesia or
uncontrollable movements.
Disease heterogeneity is a challenge in the Global
Parkinson's Disease Drugs Market. Parkinson's disease is not a single, uniform
condition but rather a complex and heterogeneous disorder with variations in
symptom presentation, progression, and response to treatment among individuals. Parkinson's
disease manifests differently in each patient. Some individuals may experience
predominantly motor symptoms, while others may have significant non-motor
symptoms, such as cognitive impairment, depression, or sleep disturbances.
Variability in symptom presentation makes it challenging to develop
one-size-fits-all treatment approaches. The rate of
disease progression varies widely among patients. Some individuals may have a
slow and relatively stable progression, while others experience a more rapid
decline in motor and cognitive function. This heterogeneity complicates the
timing and selection of treatment interventions.
Browse over XX market data Figures and spread through 110 Pages and an
in-depth TOC on "Global Parkinson’s Disease Drugs Market.”
Based on Mechanism of Action, Global Parkinson’s
Disease Drugs Market is segmented into Dopamine Agonists, Anticholinergic,
MAO-B Inhibitors, Amantadine, Carbidopa-levodopa, COMT Inhibitors, and Other
Mechanisms of Action. Dopamine agonists are compounds that bind to and activate
dopamine receptors in the brain. By doing so, they mimic the action of dopamine
itself, which is often deficient in conditions like Parkinson's disease. In
Parkinson's disease, there is a progressive loss of dopamine-producing neurons
in the brain, leading to motor symptoms like tremors, rigidity, bradykinesia
(slowness of movement), and postural instability. Dopamine agonists are used
alongside other medications, such as levodopa, to help alleviate these motor
symptoms by directly stimulating dopamine receptors. Some dopamine agonists are used to treat conditions such as acromegaly
(excess growth hormone production) and Cushing's disease (excess
adrenocorticotropic hormone, or ACTH, production) by suppressing the production
of the respective hormones.
Based on Region, North America dominated the Global Parkinson’s Disease
Drugs Market. North America, including the United States and Canada, has
a relatively high prevalence of Parkinson's disease. This is partly due to the
aging population, with a significant portion of the population being over 65,
which is the age group most affected by Parkinson's disease. The region boasts
advanced healthcare infrastructure, including well-established healthcare
systems, medical research institutions, and clinical trial networks. This
infrastructure supports the diagnosis, treatment, and research of Parkinson's
disease. The United States is a global leader in pharmaceutical research and
development. Many pharmaceutical companies and biotech firms in North America
are actively engaged in Parkinson's disease drug discovery and development.
These companies often receive significant funding and collaborate with research
institutions.
Asia-pacific region to fastest growth in
the Global Parkinson’s Disease Drugs Market. The Asia-Pacific region has a
rapidly aging population. With an increasing number of elderly individuals, the
prevalence of neurodegenerative disorders like Parkinson's disease is expected
to rise. This demographic shift drives the demand for Parkinson's disease
drugs. Improved healthcare infrastructure and increased awareness of
Parkinson's disease in the Asia-Pacific region have led to more accurate
diagnoses. As healthcare systems become more adept at recognizing the
condition, more individuals are likely to receive appropriate treatment. Many countries
in the Asia-Pacific region have experienced significant economic growth,
resulting in improved access to healthcare services and medications. This
increased affordability can contribute to higher demand for Parkinson's disease
drugs.
Some
of the major companies operating in the Global
Parkinson’s Disease Drugs Market include:
- Amneal Pharmaceuticals LLC
- AbbVie Inc.
- Boehringer Ingelheim International GmbH
- GSK plc
- Teva Pharmaceuticals Industries Ltd
- Pfizer Inc.
- Novartis AG
- F. Hoffmann-La Roche Ltd
- Kissei Pharmaceutical Co., Ltd.
- AstraZeneca Plc
- Prevail Therapeutics Inc.
- Newron
Pharmaceuticals SPA
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“Certain areas, particularly in
North America, are projected to exert significant demand for Parkinson disease
drugs. The growth in the competitive landscape and the presence of
well-established companies in the market, committed to enhance the overall
wellbeing of people each year, are expected to contribute to a remarkable
growth of the Global Parkinson’s Disease Drugs Market in the forecast period,"
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based Global management consulting firm.
Parkinson’s
Disease Drugs Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented by
Mechanism of Action (Dopamine Agonists, Anticholinergic, MAO-B Inhibitors,
Amantadine, Carbidopa-levodopa, COMT Inhibitors, and Other Mechanisms of
Action), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies,
Others), By Region, and Competition evaluated
the future growth potential of Global Parkinson’s Disease Drugs Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Parkinson’s Disease Drugs Market.
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