Parkinson’s Disease Therapeutics Market Set to Garner Staggering Revenues by 2025

The global Parkinson’s Disease Therapeutics Market is growing with high prevalence and rise in incidences of Parkinson’s disease across the developed countries. The global Parkinson’s disease therapeutics market was valued at US$ 2.18 Bn in 2016 and is projected to witness cumulative annual growth rate (CAGR) of more than 10.9% from 2017 to 2025 to exceed the US$ 5.24 Bn by 2025. The global Parkinson’s disease therapeutics market is witnessing a relatively high growth owing to rise in awareness regarding Parkinson’s disease, rapidly growing geriatric population, promising pipeline drugs, and new product launches.

Parkinson’s disease is a progressive neurodegenerative disorder that affects the dopamine producing nerve cells in the brain. Parkinson’s disease primarily causes tremors, muscle stiffness, improper motor movements, and gait and balance problems. Secondary symptoms of Parkinson’s disease include anxiety, depression, and dementia. The exact cause of Parkinson’s disease is not known; it predominantly affects the older people who are above 50 years of age. Men are one-and-half times more affected by the disease than women. According to Parkinson’s Foundation based in the U.S., it is estimated that worldwide around 7 to 10 million people are affected by disease and every year around 60,000 Americans are diagnosed with it.

High prevalence and rise in incidence rates of Parkinson’s disease in developed countries are driving the growth of the global Parkinson’s disease therapeutics market. Also, increase in awareness about Parkinson’s disease and high clinical R&D budget by the governments and non-profit organizations are projected to fuel the growth of the Parkinson’s therapeutics market during the forecast period. The promising product pipeline represents the potential business development opportunities during the forecast period. In the U.S., there are around 10 different drugs under clinical pipeline studies in phase 3 for treating different symptoms of Parkinson’s disease. However, patent expiration of key branded drugs and side-effects associated with therapeutic drugs are anticipated to limit the growth of the Parkinson’s disease therapeutics market during the forecast period.

Till date, there is no permanent cure available for treating Parkinson’s disease. However, medications such as levodopa combination therapy, dopamine agonists, MAO-B inhibitors, COMT inhibitors, cholinesterase inhibitors, and amantadine drugs are used to treat the different symptoms associated with the disease. Levodopa combination therapy is highly recommended and widely used for treating the motor symptoms of Parkinson’s disease.

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The global Parkinson’s disease therapeutics market can be divided into four segments based on drug class, route of administration, distribution channel, and geography. In terms of drug class, the global Parkinson’s disease therapeutics market can be segmented into levodopa combination therapy, dopamine agonists, MAO-B inhibitors, COMT inhibitors, and others. The other drug class includes cholinesterase inhibitors, amantadine, antipsychotic drugs, and vassopressant drugs. Levodopa combination therapy dominated the global Parkinson’s disease therapeutics market in 2016, holding more than 32% share of the market. The segment is projected to grow at a moderate pace during the forecast period and is poised to gain market share by the end of 2025. Levodopa combination therapy is considered a highly effective treatment for controlling the motor symptoms throughout the stages of Parkinson’s disease.

In terms of route of administration, the global Parkinson’s disease therapeutics market can be classified into oral, transdermal, subcutaneous, intestinal infusion, and others. The oral route of administration accounted for the leading share of the global market. The segment is projected to continue its dominance throughout the forecast period. The recent launch of Duopa in the U.S. has contributed to significant share of the intestinal infusion segment in the global market. The other routes of administration include sublingual film and inhalation. The anticipated launch of pipeline drugs administered through inhalation and sub-lingual route is likely to gain market share by the end of 2025. Distribution channels include hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment dominated the global Parkinson’s disease therapeutics market in 2016 and is likely to gain market share by the end of 2025.

Geographically, the Parkinson’s disease therapeutics market can be categorized into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounted for the largest share of the global Parkinson’s disease therapeutics market in 2016, followed by North America with a substantial market share. High level of awareness, increase in funding for research and grants, favorable medical reimbursement policies, high prevalence of Parkinson’s disease, rapidly growing geriatric population, and promising clinical pipeline products have contributed to the key share of Europe in the Parkinson’s disease therapeutics market. Europe is a highly attractive market and is expected to expand at a significant CAGR during the forecast period. The Parkinson’s disease therapeutics market in Asia Pacific is poised to grow at a moderate growth rate. A major share of the Parkinson’s disease therapeutics market is captured by Japan and China in Asia Pacific, primarily due to the large base of elderly people affected with Parkinson’s disease in these countries.

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The global Parkinson’s disease therapeutics market is consolidated with a few companies accounting for majority of its share. Leading players operating in the global Parkinson’s disease therapeutics market include Novartis AG, F. Hoffmann-La Roche AG, AbbVie Inc., Teva Pharmaceutical Industries Ltd., and UCB Inc., which exhibit wide geographical outreach. Manufacturers are adopting new product commercialization in the international market to tap the unmet needs of Parkinson’s disease. Other prominent players operating in the global market include STADA Arzneimittel AG, GlaxoSmithKline plc, Valeant Pharmaceuticals International, Inc., Merck & Co., Inc., and Impax Laboratories Inc.

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