The global Parkinson’s disease treatment market is expected to reach USD 9.12 billion by 2027 from USD 5.11 billion in 2020, at a CAGR of 8.6 %. Rising geriatric population and government funding for research on Parkinson’s disease are the driving factors for this market. Parkinson’s disease is a progressive, degenerative neurological motor disorder, primarily affecting the dopaminergic cells of the brain.
The symptoms of this disease include rigidity, tremor, bradykinesia and postural instability. The global Parkinson’s disease drug market has witnessed remarkable growth in recent years owing to a large patient pool and increased diagnosis rates. According to the Parkinson's Disease Foundation, there are about 10 million people suffering from Parkinson’s disease globally. Parkinson’s, in terms of its presence, has a higher frequency in the developed countries. In the United States (U.S.), around 60,000 new cases are diagnosed with Parkinson’s, each year. Parkinson’s disease is an idiopathic disease occurring due to unknown causes. Presently, only symptomatic drug treatments are available in the market. Moreover, these symptoms are diagnosed at later stages when most of the dopamine producing cells have lost their function. This scenario indicates an impending need for innovative drugs. Rising old age population and higher incidences of neurodegenerative diseases are two significant factors that drive the growth of this market. Moreover, increasing R&D investment and number of drugs in the pipeline are further expected to fuel the market growth. However, high cost of treatment and lack of expertise for early diagnosis is likely to curtail the market growth.
Latest developments in Parkinson’s disease treatment, for instance, combination treatments to prolong the action of unremitting dopaminergic stimulation medicines, support for neurostimulation tools, neuroprotective treatment to slow down prediction of a disease, neural transplantation and gene therapy, and so on, are anticipated to bring huge development in global Parkinson’s disease treatment market in the coming future. In addition, growing aging inhabitants, the occurrence of Parkinsonism across the globe are the major aspects propelling the demand and requirement for the global Parkinson’s disease treatment market. Also, increasing old age inhabitants and higher occurrences of the neurodegenerative syndrome are two important aspects that are likely to fuel the development of the global Parkinson’s disease treatment market. In addition, growing R&D venture and a number of medicines in the pipeline are further projected to propel the market development. On the other hand, high expenditure of treatment and short of proficiency for early diagnosis is anticipated to curtail the market development.
Key players operating in the Parkinson’s disease treatment market include Teva (Israel), Novartis AG (Switzerland), GSK (UK), AbbVie (US), Merck (US), Boehringer Ingelheim (Germany), Impax Laboratories (US), Lundbeck (Denmark), UCB (Belgium), Valeant Pharmaceuticals (Canada), Acadia (US), Sun Pharma (India), Wockhardt (India), Dr. Reddy’s (India), Intas (India), US WorldMeds (US), Zydus Cadila (India), Cipla (India), Strides (India), 1 A Pharma (India), and Upsher-Smith (US).
Europe is anticipated to achieve the largest share of the global Parkinson’s disease treatment market, which is likely to be followed by North America with a considerable market share. High knowledge about the treatment, augment in expenditure for R&D, favorable medicinal reimbursement regulations and policies, the high occurrence of Parkinson’s disease, the quickly increasing geriatric populace, and potential medical pipeline products are likely to contribute to the major share of Europe in the global Parkinson’s disease treatment market. The global Parkinson’s disease treatment market in the Asia Pacific is projected to develop at a reasonable rate. The most important market share of the global Parkinson’s disease treatment market is likely to be captured by China and Japan in the Asia Pacific, mainly owing to the large population of elderly people who are affected with Parkinson’s ailment in these countries.
The symptoms of this disease include rigidity, tremor, bradykinesia and postural instability. The global Parkinson’s disease drug market has witnessed remarkable growth in recent years owing to a large patient pool and increased diagnosis rates. According to the Parkinson's Disease Foundation, there are about 10 million people suffering from Parkinson’s disease globally. Parkinson’s, in terms of its presence, has a higher frequency in the developed countries. In the United States (U.S.), around 60,000 new cases are diagnosed with Parkinson’s, each year. Parkinson’s disease is an idiopathic disease occurring due to unknown causes. Presently, only symptomatic drug treatments are available in the market. Moreover, these symptoms are diagnosed at later stages when most of the dopamine producing cells have lost their function. This scenario indicates an impending need for innovative drugs. Rising old age population and higher incidences of neurodegenerative diseases are two significant factors that drive the growth of this market. Moreover, increasing R&D investment and number of drugs in the pipeline are further expected to fuel the market growth. However, high cost of treatment and lack of expertise for early diagnosis is likely to curtail the market growth.
Latest developments in Parkinson’s disease treatment, for instance, combination treatments to prolong the action of unremitting dopaminergic stimulation medicines, support for neurostimulation tools, neuroprotective treatment to slow down prediction of a disease, neural transplantation and gene therapy, and so on, are anticipated to bring huge development in global Parkinson’s disease treatment market in the coming future. In addition, growing aging inhabitants, the occurrence of Parkinsonism across the globe are the major aspects propelling the demand and requirement for the global Parkinson’s disease treatment market. Also, increasing old age inhabitants and higher occurrences of the neurodegenerative syndrome are two important aspects that are likely to fuel the development of the global Parkinson’s disease treatment market. In addition, growing R&D venture and a number of medicines in the pipeline are further projected to propel the market development. On the other hand, high expenditure of treatment and short of proficiency for early diagnosis is anticipated to curtail the market development.
Key players operating in the Parkinson’s disease treatment market include Teva (Israel), Novartis AG (Switzerland), GSK (UK), AbbVie (US), Merck (US), Boehringer Ingelheim (Germany), Impax Laboratories (US), Lundbeck (Denmark), UCB (Belgium), Valeant Pharmaceuticals (Canada), Acadia (US), Sun Pharma (India), Wockhardt (India), Dr. Reddy’s (India), Intas (India), US WorldMeds (US), Zydus Cadila (India), Cipla (India), Strides (India), 1 A Pharma (India), and Upsher-Smith (US).
Europe is anticipated to achieve the largest share of the global Parkinson’s disease treatment market, which is likely to be followed by North America with a considerable market share. High knowledge about the treatment, augment in expenditure for R&D, favorable medicinal reimbursement regulations and policies, the high occurrence of Parkinson’s disease, the quickly increasing geriatric populace, and potential medical pipeline products are likely to contribute to the major share of Europe in the global Parkinson’s disease treatment market. The global Parkinson’s disease treatment market in the Asia Pacific is projected to develop at a reasonable rate. The most important market share of the global Parkinson’s disease treatment market is likely to be captured by China and Japan in the Asia Pacific, mainly owing to the large population of elderly people who are affected with Parkinson’s ailment in these countries.
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