Parkinson’s Disease Drugs Market Outlook
The Parkinson’s disease drugs market size was valued at USD 6.05 Billion in 2022 and is likely reach to USD 10.40 Billion by 2031, expanding at a CAGR of 6.2% during the forecast period, 2023–2031. The growth of the market is attributed to ageing population and increasing frequency of neurological disorders.
Parkinson's disease is a long-term neurological disease affecting mobility. Tremor in the hands, bradykinesia, postural instability, and stiffness in the motions of body parts and muscles are all symptoms of this condition.
Depression, emotional changes, urinary difficulties, disrupted sleep, dysphagia, constipation, dysarthria, and skin problems are also the symptoms. It also affects the victims' mobility and muscular control.
Both motor and non-motor factors have an impact on it. Non-motor symptoms of the illness are linked to the death of neurons in non-dopaminergic regions of the nervous system, whereas motor symptoms are linked to the loss of striatal dopaminergic neurons.
Certain nerve cells (neurons) in the brain eventually break down or die in Parkinson's disease. Many of the symptoms are caused by the death of neurons in your brain that generate dopamine, a chemical messenger. Dopamine deficiency produces aberrant brain activity, which leads to poor mobility and other Parkinson's disease symptoms.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing elderly population is projected to fuel the market during forecast period.
- Increasing frequency of neurological disorders is key factor propelling the market in the coming years.
- High price of therapy is expected to restrict the market growth.
- Lack of competence for early diagnosis act as major challenge that can hinder the market during the forecast period.
- R&D investment and technological advancement is expected to created lucrative opportunities for the market players.
Scope of Parkinson’s Disease Drugs Market Report
The report on the Parkinson’s disease drugs market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Parkinson’s Disease Drugs Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Mechanism of Action (Dopamine Agonists, Anticholinergic, MAO-B Inhibitors, Amantadine, Carbidopa-levodopa, COMT Inhibitors, and Others)
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Geographical Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Teva Pharmaceuticals Industries Ltd; AbbVie Inc.; Boehringer Ingelheim GmbH; Merck & Co. Inc.; GlaxoSmithKline PLC
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Parkinson’s Disease Drugs Market Segment Insights
The COMT inhibitors segment is projected to hold a major market share
In terms of mechanism of action, the Parkinson’s disease drugs market is segregated into dopamine agonists, anticholinergic, MAO-B inhibitors, amantadine, carbidopa-levodopa, COMT inhibitors, and others.
The COMT inhibitors segment is expected to represent a key share of the market during the forecast period. The most effective treatment for Parkinson's disease motor symptoms is carbidopa-levodopa therapy.
However, it has been discovered that this medicine does not work as it should. As a result, co-therapeutic drugs such as COMT (catechol-O-methyltransferase) inhibitors must be used in conjunction with carbidopa-levodopa treatment.
Comtan (entacapone) and tasmar are the two most often used COMT inhibitors in the treatment of Parkinson's disease (tolcapone). Both of these medicines are used in combination with carbidopa-levodopa treatment and are available in tablet form.
Parkinson’s Disease Drugs Market Regional Outlook
The US is expected to dominate the market
On the basis of geography, the Parkinson’s disease drugs market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The US is anticipated to dominate the market during the forecast period.
Parkinson's disease is expected to affect 1.2 million individuals in the US during the forecast period, according to the national institute of health. As the world's population ages, the number of persons suffering from Parkinson's disease (PD) is anticipated to expand during forecast period.
Factors such as increasing number of people with Parkinson's disease, as well as the availability of reimbursements and increased awareness are estimated to boost the market. Parkinson's medicine costs about USD 2,500 per year on average, while surgery for Parkinson's can cost up to USD 100,000 per patient.
Segments
Mechanism of action
- Dopamine Agonists
- Anticholinergic
- MAO-B Inhibitors
- Amantadine
- Carbidopa-levodopa
- COMT Inhibitors
- Others
Geography
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the Parkinson’s disease drugs market include Teva Pharmaceuticals Industries Ltd, AbbVie Inc., Boehringer Ingelheim GmbH, Merck & Co. Inc., and GlaxoSmithKline PLC.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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