In fiscal year 2023, the global Parkinson’s Disease Market is expected to be worth US$ 5.41 billion, up from US$ 4.82 billion in fiscal year 2022. The global market is expected to grow at a 12.2% CAGR from 2023 to 2033, reaching a value of US$ 17.12 billion by the end of 2033.
According to the Parkinson’s Foundation, males are more likely than women to have Parkinson’s disease. Men were discovered to have a higher occurrence, and their risk was shown to be around 1.5 times higher than that of women. Most often, those over 60 are affected by it. A number of the symptoms of Parkinson’s disease can be alleviated with medication and other therapy methods including exercise. Drugs including safinamide, levodopa, benztropine, pramipexole, and selegiline are important therapy options for Parkinson’s disease patients.
Increasing pharmacological approvals for Parkinson’s disease treatment are anticipated to stimulate market expansion throughout the anticipated time frame. For instance, the Japanese pharmaceutical and biotechnology company Kyowa Kirin Co., Ltd. reported in August 2019 that the NOURIANZ medication has received FDA clearance in the United States (istradefylline). It is used as an additional therapy to levodopa/carbidopa in adult patients with Parkinson’s disease who are having ‘OFF’ episodes (PD).
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When a patient’s medications are not functioning effectively, it can lead to an increase in Parkinson’s disease (PD) symptoms including tremor and walking problems, which is known as an “off episode.” In the US, NOURIANZ (istradefylline), an antagonist of the adenosine A2A receptor, is used for Parkinson’s disease. The medication offers patients with Parkinson’s disease a brand-new non-dopaminergic once-daily oral treatment alternative. Such developments are expected to spur global growth in the Parkinson’s disease market from 2023-2033.
Key Takeaways from the Market Study
- The global Parkinson’s disease market is currently worth more than US$ 4.82 Billion.
- In 2023, the Carbidopa-levodopa segment by drug class type is expected to take the dominant market share of 32%.
- In 2023, considering the age type, the adult segment is predicted to gain a 21% market share.
- The North American market for Parkinson’s disease is predicted to grow with a steady CAGR of 12.5% from 2023-2033.
- The APAC for Parkinson’s disease is expected to grow with a steady CAGR of 12% during 2023-2033.
“The market is anticipated to expand as more drugs are approved for the treatment of Parkinson’s disease and as there is a robust pipeline of novel medications being developed for the condition.” comments a Future Market Insights analyst.
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Competitive Landscape
Some of the top players in the global Parkison’s disease market are:
- Sunovion Pharmaceuticals
- Adamas Pharmaceuticals
- Neurocrine Biosciences
- Supernus Pharmaceuticals
- Alectos Therapeutics
- Kyowa Kirin
- AbbVie
- Integrative Research Laboratories AB
- Annovis Bio Inc.
- Cerevel Therapeutics
- Biogen Inc.
- Amneal Pharmaceuticals
Some of the recent developments in this domain are:
- Biogen Inc. and Alectos Therapeutics signed an agreement in June 2022 to develop and market GBA2 inhibitors (AL01811), a possible therapy for Parkinson’s disease patients. This agreement grants Biogen worldwide rights to research, manufacture, and commercialize AL01811. They think they will be well-suited to assist bring AL01811 to patients who need it by combining Alectos’ experience in small-molecule therapies with Biogen’s worldwide development expertise in Parkinson’s disease. They are indeed energized by the prospect of using Biogen’s commercial skills to raise the standard of treatment in Parkinson’s disease as well as movement disorders in general.
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Key Segments Covered In The Parkinson’s Disease Market Report
Parkinson’s Disease Market By Type:
- Juvenile Parkinson Disease
- Young-Onset Parkinson’s Disease
- Idiopathic Parkinson Disease
Parkinson’s Disease Market By Age:
- Adult
- Pediatric
Parkinson’s Disease Market By Diagnosis:
- CT Scan
- MRI Scan
- DaTSCAN-SPECT scan
- PET Scan
Parkinson’s Disease Market By Drug Class:
- Carbidopa-Levodopa
- Carbidopa-Levodopa Infusion
- Dopamine Agonists
- Monoamine Oxidase B Inhibitors
- Catechol O-Methyltransferase Inhibitors
- Anticholinergics
- Amantadine
Parkinson’s Disease Market By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- APAC
- Middle East & Africa (MEA)
Have a Look at Related Research Reports of the Healthcare Domain:
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- https://wineart24.com/read-blog/23460_hospital-consumables-market-is-expected-to-reach-us-1-2-billion-by-2032-fmi.html
- https://www.patreon.com/posts/hospital-market-77717006?utm_medium=clipboard_copy&utm_source=copyLink&utm_campaign=postshare_creator&utm_content=join_link
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- https://forecastanalysis.blogspot.com/2023/01/hospital-consumables-market-is-expected_25.html
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