Parkinson's Market

The global Parkinson's market size was valued at USD 5.9 billion in 2021 and is expected to surpass USD 12.1 billion by 2030, expanding at a CAGR of 7.9% during the forecast period, 2022–2030. The growth of the market is attributed to the high prevalence of the disease among the geriatric population worldwide and increasing government regulations’ approval of new drugs for the disease treatment.    

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Parkinson's or Parkinson's disease is a chronic ailment mainly caused by the progressive development of neurodegeneration that affects the normal functions of the brain. It is one of the most common types of neurological disorders, which usually results in the inability to control body movements. Patients having the disease often show difficulty in talking and walking such as balance or coordination difficulties, tremors, stiffness, and shaking, which get worse gradually as the disease progresses. These patients also usually experience unintended non-motor activities including sleeping problems, memory difficulties, rapid eye movements, and depression. As per several global reports, as many as 2.3 million Parkinson's cases were registered worldwide in 2021 and the disease was found more prevalent among men and among those groups of people who are aged 60 and above. As per the report of the National Institute on Aging, only about 5% to 10% of the patients are expected to experience Parkinson's symptoms before the age of 50.

Medication is the first step in Parkinson's disease treatment and patients usually undergo surgical treatment if the medication fails to improve their mental conditions. At present, there is no single Parkinson's disease drugs or therapy that can completely cure the disease and several treatment methods are available for patients only to improve the control of their movement coordination. The approval of two key medications, RYTARY and DUOPA in 2015 by the U.S. Food and Drug Administration (FDA) laid the milestone foundation for better treatment of the disease. Over the years, several government regulations, especially in Europe have approved a series of new drug pipelines and existing drugs for the wider audience and commercialization of the drugs across the globe.   

The COVID-19 pandemic had affected the market as hospitals and clinics were entirely focused on the treatment of COVID patients. A sharp decline in hospital visits from Parkinson's patients and sudden interruption in the supply of medications to the patients, impacted by the prolonged closure of the routine clinical space, delivery systems, and lack of regular access to drugs. As per the reports by International Parkinson and Movement Disorder Society in August 2020, the impact of the pandemic had been harsh on Parkinson's patients due to the lacking access to quality treatment services and the absence of proper medications for patients.

Market Trends, Drivers, Restraints, and Opportunities

• Rising geriatric population globally who are at high risk of exposing neurological disorders and increasing awareness about advanced the disease treatment are key factors driving the market.
• Strong therapeutic drug pipeline for Parkinson's patients and rising spending on disease treatment are expected to boost the market further in the coming years.
• Rapid introduction of specialized care centers and home-care treatment settings for Parkinson's patients are other key drivers of the market.
• Lack of competency and medical devices for early diagnosis of the disease as well as the high cost of the disease treatment act as major restraining factors to the market. The average cost of Parkinson's treatment medicine is about USD 2,500 per year and the surgery for the disease can cost a patient up to USD 100,000.
• Growing funding for alternative treatment methods such as gene therapy is another major challenge that can hamper the market during the forecast period.
• Increasing patent expiry of branded drugs and favorable government policies encouraging R&D programs have opened up several growth opportunities for the market.
• Technological advancements and the rapid introduction of innovative drugs with extensive research on clinical drug tests and nervous system stimulation are offering lucrative opportunities for market growth.    

Scope of the Report

The report on the global Parkinson's market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Levodopa/carbidopa segment to expand at a rapid growth rate

Based on drugs class, the global Parkinson's market is divided into dopamine receptor agonists, COMT inhibitors, MAO-B inhibitors, levodopa/carbidopa, anticholinergics, and others. The levodopa/carbidopa segment is expected to expand at a rapid growth rate during the forecast period since the drug offers more effectiveness in Parkinson's treatment as compared to other drugs available. A series of levodopa/carbidopa combination therapies and adjunctive drug classes are widely used to improve the motor skills of the patients.

Wide availability of medication capsules and tablets boosts the oral segment

On the basis of routes of administration, the market is categorized as oral, subcutaneous injection, transdermal, and others. The oral segment accounted for a key market share in 2021 and is anticipated to exhibit a high growth rate in the coming years owing to the wide availability of Parkinson's treatment drugs and high patients’ preference for oral consumption. The majority of levodopa/carbidopa drugs including Amneal’s IPX203 and accordion pill are available in form of capsules and tablets, which can be delivered orally that help in easy absorption of the drugs.  

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Rapid adoption of brain surgery fuels the deep brain stimulation devices segment

In terms of medical devices, the global Parkinson's market is bifurcated into deep brain stimulation devices and carbidopa/levodopa enteral suspension delivery devices. The deep brain stimulation devices segment is anticipated to account for a major market share during the forecast period due to the increasing adoption of brain surgery for patients having an advanced-stage illness. The devices are used for brain surgery and electrodes are basically implanted into certain brain areas through surgery, which is connected to a simulator device to activate electric signals to the brain and enhance body movement for patients. These electrodes help in activating and regulating abnormal impulses, which are closely linked to certain cells and areas of the patient’s brain.

High hospital visits of patients drive the hospital pharmacies segment

Based on distribution channels, the market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies. The hospital pharmacies segment represented a key market share in 2021 and is anticipated to exhibit steady growth in the coming years due to the high rate of hospital visits and hospitalization cases of Parkinson's patients for diagnosis and treatment. Moreover, the wide availability of treatment drugs in hospital pharmacies are key factor boosting the segment. On the other hand, the online pharmacies segment is projected to hold a key market share during the targeted period owing to the rising buying of medications from online pharmacies, impacted by the increasing adoption of self-help and home-care settings for the patients.
 

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Hospitals segment to register a considerable CAGR

On the basis of patient care settings, the global Parkinson's market is segregated into clinics, hospitals, and others. The hospitals segment held a major market share in 2021 and is projected to register a considerable CAGR during the forecast period owing to the wide availability of high-skilled neurologists and the availability of advanced medical devices for treatment in hospitals. Increasing governments’ spending on the healthcare infrastructure and the introduction of specialized care for Parkinson's patients in hospitals further fuel the segment.

North America to dominate the market

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a major market share in 2021 and is expected to dominate the market during the projected period owing to the presence of a large pool of the geriatric population and the wide occurrence of the disease among the aged group of people. As per the data of the National Institute of Health, Parkinson's disease has affected more than 1.2 million individuals in the US alone; the US Parkinson's market was worth nearly USD 2.1 billion in 2021. Moreover, favorable reimbursement policies from insurance companies for disease treatment and therapy in the region are key factors propelling the regional market. On the other hand, the market in Asia Pacific is anticipated to grow at a robust pace during the forecast period owing to the increasing establishments of generic drug manufacturing companies and the rising clinical lab tests for drugs, with the leading funding from key players in the region.

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Segments

The global Parkinson's market has been segmented on the basis of

Drugs Class

• Dopamine Receptor Agonists
• COMT Inhibitors
• MAO-B Inhibitors
• Levodopa/Carbidopa
• Anticholinergics
• Others

Routes of Administration

• Oral
• Subcutaneous Injection
• Transdermal
• Others

Medical Devices

• Deep Brain Stimulation Devices
• Carbidopa/Levodopa Enteral Suspension Delivery Devices

Distribution Channels

• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies

Patient Care Settings

• Clinics
• Hospitals
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Merck & Co. Inc.
• Novartis AG
• Teva Pharmaceutical Industries Ltd.
• AbbVie Inc.
• Appello Pharmaceuticals
• GlaxoSmithKline plc
• Pfizer Inc.
• Boehringer Ingelheim International GmbH
• Sun Pharmaceutical Industries Ltd.
• Cipla Inc.
• F. Hoffmann-La Roche Ltd
• Impax Laboratories LLC
• Bausch Health
• ACADIA Pharmaceuticals Inc.
• Apotex Inc.
• UCB S.A.
• Dr. Reddy’s Laboratories Ltd.
• STADA Arzneimittel AG
• WOCKHARDT
• DAIICHI SANKYO COMPANY LIMITED
• Orion Corporation
• Par Pharmaceutical
• Mylan N.V.

Competitive Landscape

Key players competing in the global Parkinson's market are Merck & Co. Inc.; Novartis AG; Teva Pharmaceutical Industries Ltd.; AbbVie Inc.; Appello Pharmaceuticals; GlaxoSmithKline plc; Pfizer Inc.; Boehringer Ingelheim International GmbH; Sun Pharmaceutical Industries Ltd.; Cipla Inc.; F. Hoffmann-La Roche Ltd; Impax Laboratories LLC; Bausch Health; ACADIA Pharmaceuticals Inc.; Apotex Inc.; UCB S.A.; Dr. Reddy’s Laboratories Ltd.; STADA Arzneimittel AG; WOCKHARDT; DAIICHI SANKYO COMPANY LIMITED; Orion Corporation; Par Pharmaceutical; and Mylan N.V. Some of these players have adopted a series of business development strategies including merger and acquisition, entering into partnerships and collaboration, product launches, and rapid clinical trials of innovative drugs to expand their consumer base and enhance their market share.
For instance,

• In October 2021, US-based clinical-stage neurology and therapeutic company, Appello Pharmaceuticals began the phase 1 clinical trials of its Parkinson's drug candidate, mGlu4 PAM AP-472. The drug was designed to develop an innovative treatment operation in conjunction with an existing drug, levodopa.
• In October 2020, a US-based biopharmaceutical company, AbbVie Inc. initiated its phase 3 comparative study for ABBV-951 continuous infusion with oral LD/CD for the treatment of advanced-stage Parkinson's patients.