The global Parkinson’s disease treatment market size is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing of Parkinson's disease.
Parkinson’s disease (PD) is a neurodegenerative disorder. Loss of dopamine production in the brain causes Parkinson’s disorder. It leads to continuous worsening of motor function inside human body by affecting nerve cells and brain. Parkinson’s disease disorder is a progressive neurological disorder that affects the body movements. This disorder has five stages. Parkinson’s disease effects on facial expression and hand & leg movements of individuals which gets worst with increase in age.
At an early stage of the disease, the doctors are able to notice the disease only based on the barely noticeable tremor in one hand. PD is caused because of genetic mutations and environmental factors. Also, it causes problems such as depression, emotional change, sleep disorder, bladder problems, constipation, swallowing problems, and thinking difficulties. After Alzheimer’s disease, Parkinson’s disease is the second most common neurodegenerative disorder. Globally, around 10 million people are suffering from Parkinson’s disease. Women are affected 1.5 times lesser than a man. Combination treatments which help in prolonged action of unremitting dopaminergic stimulation medicines, natural transplantation, and gene therapy are projected to propel the growth of the industry.
Parkinson’s disease is primarily recognized through reduced movement of arms while walking, slowness at the task performance, and stiffness. Also, secondary symptoms are depression, anxiety, and dementia. This disease is commonly found in people who are at age of 60 and above years and weakening of the disease differs from person to person.
Market Trends, Drivers, Restraints, and Opportunities
- Growing prevalence of Parkinson’s disease and increasing number of scope of gene therapy are major factors responsible for propelling the market growth.
- Increasing investments in research and development, rising number of clinical trials, and increasing Government funding are projected to boost the market growth.
- Growing ageing population and unmet needs for effective treatments are anticipated to fuel the market expansion in coming years.
- Favorable government policies and increasing drug pipeline are expected to drive the growth of the market over the forecast period.
- Availability of alternate treatments is estimated to impede the market expansion in the coming years.
- Expiration of patents of drugs is major factor that hampering the market growth over the forecast period.
Scope of the Report
The report on the global Parkinson’s disease treatment 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 Treatment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Drug Classes (Dopamine Receptor Agonists, MAO-Inhibitors, Carbidopa/Levodopa, and Others), Distribution Channels (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), End-users (Hospitals and Clinics)
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Regional 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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GlaxoSmithKline Plc.; Novartis AG; Teva Pharmaceutical Industries Ltd.; Impax Laboratories, Inc.; Orion Corporation; Par Pharmaceutical; Mylan N.V.; Daiichi Sankyo; Cipla Inc.; Wockhardt Limited; Apotex Inc.; Salix Pharmaceuticals; AbbVie Inc.; Merck & Company; Boehringer Ingelheium Inc.; Sun Pharma; Valeant Pharmaceuticals; and UCB Inc.
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Market Segment Insights
Carbidopa/Levodopa segment is projected to hold a major market share
In terms of drug classes, the Parkinson’s disease treatment market is segmented into dopamine receptor agonists, MAO-inhibitors, carbidopa/levodopa, and others. The other drug classes are amantadine, vassopressant drugs, cholinesterase inhibitors, and antipsychotic drugs.
The carbidopa/levodopa segment is expected to hold a key share of the market during the forecast period. The carbidopa/levodopa drugs are widely used as they are more potent as compared to other drugs. This drug is highly recommended for the treatment of motor symptoms of Parkinson’s disease. The carbidopa/levodopa drug is marketed by a brand name of Sinemet but, it is manufactured by Merc. For symptomatic treatment of Parkinson’s disease, the combination of levodopa and carbidopa is believed as a gold standard. Levodopa combination therapy is extremely effective for controlling the symptoms as it is an enteral suspension therapy.
On the other hand, the dopamine receptor agonists segment is anticipated to expand at a rapid pace during the forecast period. There are four dopamine agonists which are approved by Federal Drug Administration (FDA) and available in the US for the use. These four drugs are Mirapex® (pramipexole), Requip® (ropinirole), Neupro® (rotigotine) and Apokyn® (apomorphine). Dopamine agonists is used as monotherapy and the only drug used for Parkinson’s disease treatment.
Hospital Pharmacy segment is expected to expand at a significant pace
On the basis of distribution channels, the market is divided into hospital pharmacy, online pharmacy and retail pharmacy. The hospital pharmacy segment is anticipated to expand at a rapid pace during the forecast period owing to availability of a wide range of drugs. Moreover, growing number of Parkinson’s disease cases and rising number of patient visits to hospitals are projected to fuel the segmental growth over the forecast period. The need of multiple times visits and stays during Parkinson’s disease treatment is driving the segment growth. Large number of patients prefers hospital pharmacy. This is attributed to quick and easy access to various drugs and adequate products offered by this distribution channel.
Online pharmacy and retail pharmacy are also growing due to increasing popularity of e-commerce channels which offers multiple options including in-depth information about drugs.
Hospital segment is projected to account for a key market share
Based on end-users, the Parkinson’s disease treatment market is bifurcated into hospitals and clinics. The hospital segment is expected to account for a key share of the market in the coming years. The treatment and therapy are performed under one roof in hospitals which is major factor responsible for the growth of the segment. The growth of the segment is attributed to high demand of advanced equipment for Parkinson’s disease treatment and huge patient pool. Number of patient visits for the PD treatment is increasing because of accessibility of such facilities. Moreover, rising investment in state-of-the-art healthcare infrastructures, robust healthcare services in hospitals, and presence of skilled professionals are some of the major driving factors.
On the other hand, the clinic segment is anticipated to expand at a rapid pace during the forecast period. Recently, need of specialized treatments is increasing also many patients are choosing specialty clinics for quick diagnosis.
Asia Pacific is anticipated to dominate the market
On the basis of regions, the Parkinson’s disease treatment market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is expected to exhibit a rapid growth rate in the coming years. The regional market growth can be attributed to rising prevalence of Parkinson’s disease. Furthermore, the well-developed infrastructure of healthcare.
However, the market of Asia Pacific is anticipated to dominate the market during the forecast period owing to the presence of untapped opportunities in this region. Rising patient count and increasing expenditure by governments are projected to drive the regional market growth. Additionally, increasing research and development activities and favorable government policies are expected to boost the growth of the regional market.
Segments
Segments Covered in the Report
The global Parkinson’s disease treatment market has been segmented on the basis of
Drug Classes
- Dopamine Receptor Agonists
- MAO-Inhibitors
- Carbidopa/Levodopa
Distribution Channels
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
End-users
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- GlaxoSmithKline Plc.
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Impax Laboratories, Inc.
- Orion Corporation
- Par Pharmaceutical
- Mylan N.V.
- Daiichi Sankyo
- Cipla Inc.
- Wockhardt Limited
- Apotex Inc.
- Salix Pharmaceuticals
- AbbVie Inc.
- Merck & Company
- Boehringer Ingelheium Inc.
- Sun Pharma
- Valeant Pharmaceuticals
- UCB Inc.
Competitive Landscape
Key players competing in the parkinson’s disease treatment market are GlaxoSmithKline Plc.; Novartis AG; Teva Pharmaceutical Industries Ltd.; Impax Laboratories, Inc.; Orion Corporation; Par Pharmaceutical; Mylan N.V.; Daiichi Sankyo; Cipla Inc.; Wockhardt Limited; Apotex Inc.; Salix Pharmaceuticals; AbbVie Inc.; Merck & Company; Boehringer Ingelheium Inc.; Sun Pharma; Valeant Pharmaceuticals; and UCB Inc.
Major market players are adopting several business strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance, in 2016, UK based BIAL Pharm has launched opicapone (Ongentys). Opicapone drug is a novel drug developed for improving mobility in patients.
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