Parkinson’s Disease Therapeutics Market Worldwide Top Players Revenue and Forecasts To 2027
Parkinson’s disease (PD) is a chronic disorder characterized by the malfunctioning and death of vital nerve cells in the brain, and can be characterized by tremor, dementia, and depression. Parkinson’s disease progression leads to uncontrolled body movement of the patient. There is no cure presently for Parkinson’s disease only treatments options such as medication and surgery to manage the symptoms are available. 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 is 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 research and development in the field of Parkinson’s disease therapeutic will help in the treatment of Parkinson’s disease.
Increase in prevalence of Parkinson’s disease across 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 factor which is driving the Parkinson’s disease therapeutic 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. The increase in number of geriatric population and technological advancements such as combination therapies for prolong action of continuous dopaminergic stimulation drugs, gene therapy, neural transplantation are some other causes which are likely to drive the Parkinson’s disease therapeutic market. However some restraints like expiry of patents for several drugs such as Stalevo, Azilect, Rytary, Comtan etc. can cause the cessation of Parkinson’s disease therapeutic market.
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The advancements in medical devices segment for Parkinson’s disease treatment is expected to boost the growth in Parkinson’s disease therapeutic market
Global Parkinson’s disease therapeutic market is segmented on the basis of treatment type, end user and geographical regions
New advancements in the treatment of Parkinson’s disease has helped to boost the growth in North America for Parkinson’s disease therapeutic 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. High prevalence of Parkinson’s disease and good reimbursement policies are some of factors which allows the North America region to dominate in the Parkinson’s disease market. For instance, over 40 medicines are developed for the treatment of parkinsons disease and many have gained the fast track designation from U.S. Food and Drug Administration (FDA) in North America. North America is expected to hold the largest share in the Parkinson’s disease market because of increase in investments in research and development for Parkinson’s disease.
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 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.
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