Parkinson’s Disease Therapeutics Market Outlook, Key Financials, Segmental Revenue and Geographical Revenue till 2026
Parkinson’s disease (PD) is a chronic disorder which leads to malfunctioning and death of vital nerve cells in the brain and can be caused by tremor, dementia, and depression. Parkinson’s disease progression leads to the uncontrolled body movement of the patient and there is no cure at present for Parkinson’s disease, the only options are medication and surgery to manage the symptoms. Parkinson’s disease mainly affects people over 50 and the risk increases with increasing age. Parkinson’s disease treatment is used to control symptoms such as uncontrolled movement, shakiness of hands, and some others. The therapeutic approaches like levodopa in combination with carbidopa are considered as an effective treatment over symptoms of Parkinson’s disease. The surgical treatment option is available but it is only effective for patients who are previously responded to levodopa therapy. The ongoing research and development in the field of Parkinson’s disease therapeutic will help in the treatment of Parkinson’s disease.
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Rising prevalence of Parkinson’s disease around the world is driving the Parkinson’s disease therapeutics market
According to Parkinson’s disease foundation, more than 10 million people globally are living with Parkinson’s disease and 60,000 Americans are diagnosed with Parkinson’s disease each year. The rising prevalence of Parkinson’s disease across the world is one of the major factors which is driving the Parkinson’s disease therapeutics market. Rising male patients is also the major factor owing to Parkinson’s disease therapeutic market, because as mentioned in the data of Parkinson’s disease foundation, chances of getting Parkinson’s disease are one and half times more in men than women. Moreover, the increase in the number of geriatric population base rate and the advent of technological advancements such as combination therapies for prolong the action of continuous dopaminergic stimulation drugs, gene therapy, neural transplantation are some of the other factors which are likely to drive Parkinson’s disease therapeutics market. On the flip side, expiry of patents for several drugs such as Stalevo, Azilect, Rytary, Comtan, etc. can impact market growth negatively.
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The advancements in the medical devices segment for Parkinson’s disease treatment is expected to boost the growth in Parkinson’s disease therapeutics market
Global Parkinson’s disease therapeutics market is segmented based on treatment type, end-user, and geographical regions
Based on treatment type:
- Medical Devices
- Deep Brain Stimulation (DBS) Devices
- Carbidopa/Levodopa Enteral Suspension (Duopa) delivery devices
- Drug Class
- Dopamine precursors
- COMT Inhibitors
- MAO Inhibitors
- Peripheral Decarboxylase Inhibitors
Based on end-user:
- Homecare Settings
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Advancements in the treatment of Parkinson’s disease have boosted the growth in North America for Parkinson’s disease therapeutics market
Regional segmentation of Parkinson’s disease therapeutic market according to coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America market is dominating the overall market owing to the high prevalence of Parkinson’s disease, increasing investment in the research and development field and good reimbursement policies. For instance, over 40 medicines are developed for the treatment of Parkinson’s disease and many have gained the fast track designation from the U.S. Food and Drug Administration (FDA) in North America.
New product development is the key strategy adopted by major industry player in Parkinson’s disease therapeutics market
Key players in the Parkinson’s disease therapeutics market globally are Salix Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Novartis AG, GlaxoSmithKline Plc., Mylan N.V., Orion Corporation, Boehringer Ingelheim, UCB, and Impax Labs. Many of the key players involved in the anti-Parkinson’s disease medication and some of the biopharmaceuticals research companies in the U.S. are currently in the development of new medicines for the treatment of Parkinson’s disease. The industry players such as Novartis AG, Pfizer, Ceregene, and Biogen are expected to launch new drugs for Parkinson’s disease treatment in the future.About Us:
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