Parkinson’s Disease Sector to Flourish, Estimated at US$ 17.12 Billion by 2033 with 12.2% CAGR | FMI Analysis Reveals

In the year 2022, the global Parkinson’s Disease Market was estimated to be worth US$ 4.82 Billion. Considering the rising demand in the global market, it is predicted to reach a valuation of US$ 5.41 Billion by 2023. The market will also exhibit a steady CAGR of 12.2% from 2023-2033 and hence ultimately reach US$ 17.12 Billion by the end of 2033.

According to the Parkinson’s Foundation, males are more likely than women to have Parkinson’s disease. Men were discovered to have a higher occurrence, and their risk was shown to be around 1.5 times higher than that of women. Most often, those over 60 are affected by it. A number of the symptoms of Parkinson’s disease can be alleviated with medication and other therapy methods including exercise. Drugs including safinamide, levodopa, benztropine, pramipexole, and selegiline are important therapy options for Parkinson’s disease patients.

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Increasing pharmacological approvals for the Parkinson’s disease treatment are anticipated to stimulate market expansion throughout the anticipated time frame. For instance, the Japanese pharmaceutical and biotechnology company Kyowa Kirin Co., Ltd. reported in August 2019 that the NOURIANZ medication has received FDA clearance in the United States (istradefylline). It is used as an additional therapy to levodopa/carbidopa in adult patients with Parkinson’s disease who are having ‘OFF’ episodes (PD).

When a patient’s medications are not functioning effectively, it can lead to an increase in Parkinson’s disease (PD) symptoms including tremor and walking problems, which is known as an “off episode.” In the US, NOURIANZ (istradefylline), an antagonist of the adenosine A2A receptor, is used for Parkinson’s disease. The medication offers patients with Parkinson’s disease a brand-new non-dopaminergic once-daily oral treatment alternative. Such developments are expected to spur the global growth in the Parkinson’s disease market from 2023-2033.

Key Takeaways from the Market Study

• The global Parkinson’s disease market is currently worth more than US$ 4.82 Billion.
• In 2023, the Carbidopa-levodopa segment by drug class type is expected to take the dominant market share of 32%.
• In 2023, considering the age type, the adult segment is predicted to gain a 21% market share.
• The North American market for Parkinson’s disease is predicted to grow with a steady CAGR of 12.5% from 2023-2033.
• The APAC for Parkinson’s disease is expected to grow with a steady CAGR of 12% during 2023-2033.

 “The market is anticipated to expand as more drugs are approved for the treatment of Parkinson’s disease and as there is a robust pipeline of novel medications being developed for the condition.” comments a Future Market Insights analyst.

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Competitive Landscape

Some of the top players in the global Parkison’s disease market are:

• Sunovion Pharmaceuticals
• Adamas Pharmaceuticals
• Neurocrine Biosciences
• Supernus Pharmaceuticals
• Alectos Therapeutics
• Kyowa Kirin
• AbbVie
• Integrative Research Laboratories AB
• Annovis Bio Inc.
• Cerevel Therapeutics
• Biogen Inc.
• Amneal Pharmaceuticals

Some of the recent developments in this domain are:

• Biogen Inc. and Alectos Therapeutics signed an agreement in June 2022 to develop and market GBA2 inhibitors (AL01811), a possible therapy for Parkinson’s disease patients. This agreement grants Biogen worldwide rights to research, manufacture, and commercialize AL01811. They think they will be well-suited to assist bring AL01811 to patients who need it by combining Alectos’ experience in small-molecule therapies with Biogen’s worldwide development expertise in Parkinson’s disease. They are indeed energized by the prospect of using Biogen’s commercial skills to raise the standard of treatment in Parkinson’s disease as well as movement disorders in general.

More Valuable Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Parkinson’s disease market, presenting historical demand data (2018-2022) and forecast statistics from 2023 to 2033.

The study divulges essential insights on the market based on the parkinson’s disease market by type (juvenile parkinson disease, young-onset parkinson’s disease, idiopathic parkinson disease), by age (adult and pediatric), by diagnosis (CT Scan, MRI Scan, DaTSCAN-SPECT scan, PET Scan), by drug class (carbidopa-levodopa, carbidopa-levodopa infusion, dopamine agonists, monoamine oxidase b inhibitors, catechol o-methyltransferase inhibitors, anticholinergics, amantadine) and regions.

Key Segments Profiled in the Amyotrophic Lateral Sclerosis Industry Survey

Treatment:

• Medication
• Stem Cell Therapy
• Others

Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Others

Region:

• North America
• Latin America
• Europe
• Asia Pacific
• MEA

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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