Parkinson's Disease Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: October 06, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 4.8 billion |
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Revenue forecast in 2030 |
US$ 9.43 billion |
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Growth Rate |
CAGR of 7.80% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
Drug Class, Route of Administration, End-User, and Region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global Parkinson's disease drugs market was pegged at US$ 4.8 billion in 2021 and is expected to witness a CAGR of 7.80 % during the forecast period.
Market Fundamentals
Parkinson's disease is a progressive sickness that affects the neurological system and the areas of the body that the nerves regulate. Even though there is no cure for Parkinson's disease, medicines may significantly reduce the symptoms. The most significant risk factor for Parkinson's disease progression is age. Breakdown of neurons in the brain causes a fall in dopamine levels destroying the brain, which results in Parkinson's disease symptoms. Parkinson's disease frequently begins with hand tremors, slow movement, stiffness, and loss of balance.
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Market Dynamics
The rising prevalence of Parkinson's disease in the senescent population, the launch of many new drugs by prominent market players, a strong pipeline, growing public awareness, and R&D investments are all expected to propel the market growth. However, strict government guidelines for drug approvals, the risk of late-stage pipeline candidate failure, and the availability of alternative treatments may impede the expansion of the global Parkinson's disease drugs market.
Market Ecosystem
The global Parkinson's disease drug market has been analyzed from four perspectives: drug class, route of administration, end-user, and region.
Parkinson's Disease Drugs Market by Drug Class
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Based on drug class, the global Parkinson's disease drugs market is segmented into decarboxylase inhibitors, dopamine agonists, monoamine oxidase type B (MAO-B) inhibitors, catechol-o-methyltransferase (COMT) inhibitors, and others. Decarboxylase inhibitors have dominated the market in the drug class segment. The enzyme decarboxylase initiates the breakdown of levodopa at the blood-brain barrier. Decarboxylase inhibitors work by inhibiting the enzyme decarboxylase activity, which alters levodopa's breakdown. This increases the amount of levodopa across the blood-brain barrier. In the brain, levodopa, in turn, is converted into dopamine, which helps in controlling movement and coordination. The dopamine agonists act directly on the dopamine receptor, so metabolic conversion is not required. The dopamine agonists have a longer half-life and do not undergo oxidative breakdown resulting in free radicals, which leads to oxidative stress.
Parkinson's Disease Drugs Market by Route of Administration
Based on route of administration, the global Parkinson's disease drugs market is categorized into oral, transdermal, and injection deliveries. The oral segment has dominated the global Parkinson's disease market. The oral segment has dominated the market owing to more preference for oral drugs, ease of administration, and treatment adherence. Furthermore, transdermal and injection segments are expected to show a high growth rate in the forecast period due to their growing preference in treating motor dysfunction.
Parkinson's Disease Drugs Market by Region
Based on region, the global Parkinson's disease drugs market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The European region has dominated the global Parkinson's disease drugs market. Factors attributed to the region's growth are the geriatric population, high reimbursement activities, and rapid approval of novel drugs. North America is characterized by many market players in the region and more significant investments in research activities. The Asia Pacific market is anticipated to proliferate due to increased healthcare systems and a large patient population. China is expected to have a significant bulk of people living with Parkinson's disease during the next two decades, eventually growing the global market. An estimate from an SML study on Parkinson's disease states that in China, the Han population's average prevalence of Parkinson's disease is 3.9% in individuals over 50. By 2030, it is predicted that 4.94 million Chinese people will have Parkinson's disease, making up half of all Parkinson's patients globally.
Competitive Landscape
Some of the prominent players operating in the global Parkinson's disease drugs market are:
Strategic Developments
The rising prevalence of Parkinson's disease, the launch of many new drugs by prominent market players, significant government initiatives, growing public awareness, and R&D investments are all expected to propel the market growth.
Some prominent players operating in the Parkinson's disease drugs market are Pfizer, Inc., Novartis AG, Orion Pharma Ltd., Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., F. Hoffman-La Roche Ltd., Impax Laboratories, Inc., UCB S.A, Vertical Pharmaceutical, LLC, ACADIA Pharmaceuticals Inc., AbbVie Inc., Boehringer Ingelheim International GmbH, and H. Lundbeck A/S, among others
The global Parkinson's disease drugs market is expected to witness a CAGR of 7.80 % during the forecast period from 2022 to 2030.
The high cost of drugs and the availability of other treatments will likely restrain the market growth.
*Insights on financial performance is subject to availability of information in public domain