Newark, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the Parkinson’s Disease Treatment market will grow from USD 5.87 billion in 2022 and reach USD 12.15 billion by 2032. Parkinson’s disease has several symptoms which can only be prevented with the help of medical treatment. The burden of Parkinson's disease is increasing, especially in western countries, fueling the demand for treatment procedures. There are several drugs present in the product pipeline which are intended to cure or manage the symptoms of Parkinson’s disease.
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Key Insight of the Parkinson’s Disease Treatment Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest market share in the Parkinson’s disease treatment market. Key factors favoring the growth of the Parkinson’s disease treatment market in North America include the growing incidence of the disease, the rise in the elderly population, and the extensive research and development base. The expenditure on drug development is increasing, and many mid-scale and large-scale companies are launching their line of treatments. The U.S. has always been at the forefront of investing in drug development and therapeutic procedures.
The carbidopa-levodopa segment dominated the market with a revenue share of 29.20% and was valued at USD 1.71 billion in 2022.
The drug class segment is divided into dopamine agonists, COMT inhibitors, MAO-B inhibitors, anticholinergics, carbidopa-levodopa, and others. The carbidopa-levodopa segment dominated the market with a revenue share of 29.20% and was valued at USD 1.71 billion in 2022. Levodopa is one of the oldest drugs used for managing the symptoms of Parkinson’s disease. Carbidopa-Levodopa helps in treating the uncontrollable and unmanageable movements of the body. There are various dosage forms of Carbidopa-Levodopa available in the market.
The injection segment will likely grow at the highest CAGR during the forecast period.
The administration route segment includes injection, oral and transdermal. The injection segment will likely grow at the highest CAGR during the forecast period. Injections can be administered during a specific period by healthcare professionals. Injections can help manage the symptoms in a shorter period, providing relief to the patients.
The online pharmacies segment will likely grow at the highest CAGR during the forecast period.
The distribution channel segment includes retail pharmacies, hospital pharmacies, and online pharmacies. The online pharmacies segment will likely grow at the highest CAGR during the forecast period. The demand for online purchasing has increased in the recent decade due to the growing number of drug development e-commerce websites. The growth of e-commerce websites has increased due to accessibility and internet penetration. Many pharmacies have started distributing their prescription drugs online to reach out to their customers.
The hospital's segment dominated the market with a revenue share of 79.21% and was valued at USD 4.64 billion in 2022.
The patient care facility segment includes hospitals and clinics. The hospital's segment dominated the market with a revenue share of 79.21% and was valued at USD 4.64 billion in 2022. Hospitals provide advanced treatment options due to the availability of high-end equipment. There are many hospitals in developing and developed regions for the treatment of Parkinson’s disease.
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Advancement in market
In June 2022, Alectos Therapeutics and Biogen Inc. collaborated to sign an agreement for developing and commercializing GBA2 Inhibitors. Biogen Inc. received the rights to develop and commercialize GBA2 Inhibitors through this collaboration.
Market Dynamics
Driver: Increasing demand for early detection of lifelong diseases
The burden of Parkinson’s disease has increased multiple times in the last two decades. The risk of this disorder is higher among men and the elderly population. The research claims that, while most symptoms of Parkinson’s disease are incurable, they could be treated and regulated if detected early. People prefer to detect such diseases early to reduce the burden of symptoms and related distress. Palliative care is critical for relieving suffering in patients with advanced and incurable diseases, especially in low- and middle-income countries where access to curative therapies is scarce and patients often take advice from medical staff when their illness has progressed to an advanced stage or incurable. Thus, these factors will propel the market growth for the medications.
Restraint: Potential side-effects
Parkinson’s disease treatment drug usage necessitates a complex trade-off between the advantage of reducing psychotic symptoms and the possibility of unpleasant, often life-threatening side effects. The symptoms usually range from mild to severe. These side effects include nausea, constipation, dizziness, and hallucinations.
Opportunity: Increasing advancements in the drug development process
Rapid pharmaceutical and biopharmaceutical drug production advancements are increasingly complex and niche therapies. This change is affecting production processes and equipment requirements. The need for versatility is still driving the development of new treatments. The final drug is impacted by several factors, such as the batch size of specialty drug items and the presence of highly potent and cytotoxic drugs, including containment, drug delivery systems, etc. The shift from mainstream, mass-produced pharmaceuticals to more advanced personalized therapies has necessitated a paradigm shift in pharma manufacturing and processes. The rising technological advancement in drug development will propel market growth.
Challenge: Lack of awareness regarding treatment procedures
Patients lack awareness in developing regions such as Asia-Pacific, the Middle East, and Latin America. In underdeveloped and developing countries, patients do not seek medical help for Parkinson's disease. This leads to the worsening of the symptoms, which can be life-threatening. Thus, this factor hinders the market's growth in such countries.
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Some of the major players operating in the 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
Key Segments Cover in the Market:
By Drug Class:
• Dopamine Agonists
• COMT Inhibitors
• MAO-B Inhibitors
• Anticholinergics
• Carbidopa-Levodopa
• Others
By Administration Route:
• Injection
• Oral
• Transdermal
By Distribution Channel:
• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies
By Patient Care Facility:
• Hospitals
• Clinics
By Region
• 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)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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