Dublin, Oct. 07, 2024 (GLOBE NEWSWIRE) -- The "Parkinson's Disease Market by Drug Class, Medical Devices Devices, Route of Administration, Distribution Channel, and Region" report has been added to ResearchAndMarkets.com's offering.
The global Parkinson's disease market accounted for USD 3.6 billion in 2023 and is expected to reach USD 11.66 billion by 2034 with a CAGR of 11.26% during the forecast period 2024-2034. The market for Parkinson's disease will grow as a result of rising co-morbidity rates, government initiatives and healthcare policies, aging populations, increased awareness and education, and advancements in research and development. 
The market for Parkinson's disease is growing as a result of government measures to improve access to treatment and improve the quality of healthcare, especially in developing nations. Prioritizing neurological illnesses and allocating funds for research and development are important aspects of healthcare policy that stimulate innovation and market growth. For instance, AbbVie reported positive Phase 3 findings in December 2023 for its investigational medication, ABBV-951, which treats psychosis in Parkinson's disease.
Report Scope
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Drug Class, Medical Devices, Route of Administration, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- AbbVie Inc.
- Acorda Therapeutics Inc.
- Adamas Pharmaceuticals Inc.
- Amneal Pharmaceuticals Inc.
- Apopharma Inc.
- BIAL - Portela & Ca S.A.
- Impax Laboratories LLC
- Lundbeck A/S
- Medtronic plc
- Merck & Co. Inc.
- Neurocrine Biosciences Inc.
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- UCB S.A.
- Voyager Therapeutics Inc.
Parkinson's Disease Market Analysis, by:
Drug Class 2023-2034 (Revenue USD Bn)
- Levodopa/Carbidopa
- Dopamine Receptor Agonists
- MAO-Inhibitors
- COMT-Inhibitors
- Anticholinergics
- Other Drugs
By drug class, the Levodopa/Carbidopa segment accounted for the highest revenue-grossing segment in the global Parkinson's disease market in 2023 owing to its effectiveness in managing motor symptoms and its long-standing status as a cornerstone therapy in Parkinson's disease treatment. For instance, Acorda Therapeutics reported encouraging Phase 2 data for their Parkinson's disease treatment candidate tozadenant in November 2023.
Additionally, the MAO-B inhibitors and COMT inhibitors segment is predicted to grow at the fastest CAGR during the forecast period owing to their efficacy in adjunctive therapy, the increasing focus on combination therapies, and the introduction of novel formulations and delivery methods.
Medical Devices 2023-2034 (Revenue USD Bn)
- Deep Brain Stimulation (DBS) Devices
- Carbidopa/Levodopa Enteral Suspension (Duopa) Delivery Devices
By medical devices, the deep brain stimulation (DBS) devices segment accounted for the highest revenue-grossing segment in the global Parkinson's disease market in 2023 owing to its proven efficacy in managing motor complications, technological advancements improving device performance and patient outcomes, and expanding adoption among neurologists and patients. For instance, Medtronic announced in December 2023 that a pivotal study for their adaptive deep brain stimulation system for Parkinson's disease would begin.
Additionally, the Carbidopa/Levodopa enteral suspension (Duopa) delivery devices segment is predicted to grow at the fastest CAGR during the forecast period owing to its targeted delivery, enhanced efficacy in managing motor fluctuations and increasing adoption of continuous dopaminergic therapies for Parkinson's disease management.
Route of Administration 2023-2034 (Revenue USD Bn)
- Oral
- Transdermal
- Subcutaneous
- Intestinal Infusion
- Others
By route of administration, the oral segment accounted for the highest revenue-grossing segment in the global Parkinson's disease market in 2023 owing to its convenience, established efficacy, patient preference, and wide availability of oral medications for symptom management. For instance, Novartis reported encouraging Phase 3 data in December 2023 on their gene treatment for advanced Parkinson's disease.
Additionally, the subcutaneous and intestinal infusion segment is predicted to grow at the fastest CAGR during the forecast period owing to its ability to provide continuous drug delivery, improved efficacy in managing motor fluctuations, and growing interest in alternative administration routes for Parkinson's disease treatment.
Distribution Channel 2023-2034 (Revenue USD Bn)
- Hospital Pharmacies
- Clinics
- Retail Pharmacies
- Online Pharmacies
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global Parkinson's disease market in 2023 owing to its ability to dispense specialized medications and handle complex treatment regimens often associated with Parkinson's disease management, along with the availability of comprehensive healthcare services in hospital settings. For instance, in June 2023, Prometheus Biosciences, Inc. ("Prometheus") and Merck, which is known as MSD outside of the US and Canada, declared that the transaction was complete.
Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of e-commerce platforms for medication purchases, convenience, wider accessibility, and the growing trend of telemedicine and digital healthcare services.
Region 2023-2034 (Revenue USD Bn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America is anticipated to have the highest revenue share during the forecast period owing to its advanced healthcare infrastructure, high prevalence of Parkinson's disease, strong research and development activities, and greater access to novel therapies and treatment options.
Additionally, Asia Pacific is predicted to grow at the fastest CAGR during the forecast period owing to its large population base, increasing awareness about neurological disorders, rising healthcare expenditure, improving healthcare infrastructure, and a growing emphasis on research and development in the region. For instance, in May 2023, Just - Evotec Biologics, the Seattle-based subsidiary of Evotec SE, and Sandoz, a global leader in off-patent (generic and biosimilar) medicines, established a multi-year cooperation.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $3.6 Billion |
| Forecasted Market Value (USD) by 2034 | $11.66 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/b3nd00
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