Newark, Oct. 17, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global Parkinson’s Disease Treatment market is expected to grow from USD 5.87 Billion in 2022 to USD 12.15 Billion by 2032, at a CAGR of 7.55% during the forecast period 2023-2032.
The increase in government investment in pharmaceutical research and development in emerging countries can be attributed to numerous factors such as rising healthcare expenditure, progressing clinical diagnostics and drug discovery fields, emerging applications, technological advancements, growing geriatric populations, and changing demographics. Advances have aided the growth of the Parkinson’s disease treatment market in drug development innovations. As a result, high-end treatment procedures are being developed, further fueling the Parkinson’s disease treatment market.
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Competitive Strategy
To enhance their market position in the global Parkinson’s Disease Treatment market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In October 2023: Abbvie has signed an agreement for the complete acquisition of Mitokinin, a small biotech company performing the experimental treatment for Parkinson’s disease. This acquisition helps the organization strengthen its neuroscience pipeline.
Market Growth & Trends
Parkinson's disease is a brain disorder that results in uncontrollable movements like stiffness, trembling, and issues with coordination and blood. Usually, symptoms are minor to begin with, and worsen over time. As the condition develops, individuals may have trouble speaking and moving about. Additionally, the patient may experience behavioral changes, depression, sleep issues, and memory loss. The risk of acquiring Parkinson's is almost at anyone; however, certain studies indicate that men are more vulnerable to this condition. The basal ganglia experience nerve cell death and impairment, which is one of the most prevalent symptoms of Parkinson's disease. Norepinephrine, the primary chemical messenger of the sympathetic nervous system that controls several essential functions like heart rate and blood pressure, is majorly impacted by Parkinson's disease. Many people around the globe have developed Parkinson's disease in the last two decades compared to other neurological disorders. According to recent estimates, Parkinson’s disease caused 329,000 deaths in 2019, an increase of over a hundred percent in two decades. Aging is one of the common factors contributing to the rising prevalence of Parkinson’s disease. Numerous studies have demonstrated that environmental elements such as pesticides, industrial solvents, and air pollution may raise the risk of developing Parkinson's disease.
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Key Findings
• In 2022, the carbidopa-levodopa segment dominated the market with the largest market share of 29.20% and market revenue of USD 1.71 Billion.
The drug class segment is divided into dopamine agonists, COMT inhibitors, MAO-B inhibitors, anticholinergics, carbidopa-levodopa, and others. In 2022, the carbidopa-levodopa segment dominated the market with the largest market share of 29.20% and market revenue of USD 1.71 Billion. Levodopa and carbidopa are among the most effective drug combinations to treat Parkinson's disease.
• In 2022, the oral segment dominated the market with the largest market share of 47.10% and market revenue of USD 2.76 Billion.
The administration route segment includes injection, oral and transdermal. In 2022, the oral segment dominated the market with the largest market share of 47.10% and market revenue of USD 2.76 Billion. Oral administration is the most convenient administration route for most patients.
• In 2022, the retail pharmacies segment dominated the market with the largest market share of 45.55% and market revenue of USD 2.67 Billion.
The distribution channel segment includes retail pharmacies, hospital pharmacies, and online pharmacies. In 2022, the retail pharmacies segment dominated the market with the largest market share of 45.55% and market revenue of USD 2.67 Billion. Retail pharmacies provide all the medications used for managing the symptoms of Parkinson's disease.
• In 2022, the hospital segment dominated the market with the largest market share of 79.21% and market revenue of USD 4.65 Billion.
The patient care facility segment includes hospitals and clinics. In 2022, the hospital segment dominated the market with the largest market share of 79.21% and market revenue of USD 4.65 Billion. Patients with Parkinson's disease usually prefer to visit hospitals for treatment procedures.
Regional Segment Analysis of the Parkinson’s Disease Treatment Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Parkinson’s Disease Treatment industry, with a market share of 36.08% and a market value of around USD 2.12 Billion in 2022. The region has a high market growth rate due to an increasing prevalence of Parkinson’s disease. The North American market will be driven by investment in the healthcare sector to support the Parkinson’s disease treatment market. The growing investment by regional agencies and support of research and development policies provide lucrative growth opportunities to the market.
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Key players operating in the global Parkinson’s Disease Treatment market are:
• Cerevel Therapeutics
• Teva Pharmaceutical Industries Ltd.
• Novartis AG
• Merck & Co., Inc.
• AbbVie, Inc.
• GlaxoSmithKline plc.
• Boehringer Ingelheim International GmbH
• H. Lundbeck A/S
• Supernus Pharmaceuticals, Inc
• Amneal Pharmaceuticals LLC
• Zydus Cadila
• Sun Pharmaceutical Industries Ltd.
• Dr. Reddy’s Laboratories
• Cipla Inc
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Parkinson’s Disease Treatment market based on below mentioned segments:
Global Parkinson’s Disease Treatment Market by Drug Class:
• Dopamine Agonists
• COMT Inhibitors
• MAO-B Inhibitors
• Anticholinergics
• Carbidopa-Levodopa
• Others
Global Parkinson’s Disease Treatment Market by Administration Route:
• Injection
• Oral
• Transdermal
Global Parkinson’s Disease Treatment Market by Distribution Channel:
• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies
Global Parkinson’s Disease Treatment Market by Patient Care Facility:
• Hospitals
• Clinics
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About the report:
The global Parkinson’s Disease Treatment market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
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