Global Parkinson’s Disease Therapeutics Market Landscape
The recent report by Market Research Future (MRFR) asserts that the Parkinson’s Disease Therapeutics Market research is expected to reach USD 6,953 Million by 2030 at 7.2% CAGR during the forecast period 2022-2030.
Drivers and Restraints
Global Parkinson’s Disease Therapeutics Market is anticipated to witness significant growth, owing to the increasing cases of Parkinson’s disease, with the growth in aging population levels. Furthermore, increasing environmental factors genetic heredity is augmenting the growth of the Parkinson’s disease therapeutics market. Therefore, it may drastically result in expanding the market size during the forecast period. Pharmaceutical firms are creating new and improved therapies for Parkinson's disease (PD), and lately, there have been some significant product launches in Parkinson's disease therapeutics and other assistive therapeutics. Additionally, most of the global firms have a healthy drug pipeline for the treatment of Parkinson's disease, and as per the estimations, the forecast period may observe the launch of a few blockbuster drugs.
Segmental Analysis
The global Parkinson’s disease therapeutics market is analyzed on the basis of type, treatment, and end-user. The global Parkinson’s disease therapeutics market, based on the treatment type, is bifurcated into medication and surgical therapy. The medication segment is segmented further into COMT inhibitors, peripheral decarboxylase inhibitors, MAO inhibitors, dopamine precursors, and others. Surgery therapy is further bifurcated into deep brain stimulation (DBS) and carbidopa/levodopa enteral suspension.
On the basis of end-user, the Parkinson’s Disease Therapeutics market is categorized into hospitals clinics, academic industrial research, and others.
Regional Analysis
The geographical analysis of the Global Parkinson’s Disease Therapeutics Market has been conducted in four major regions, namely the Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.
The Parkinson's disease therapeutics market is led by North America owing to the rising healthcare spending that contributes to improving the market growth in this region. The total number of Parkinson’s disease patients, combined with the availability of reimbursements and high awareness, is boosting the growth of the market. Additionally, the high cost of Parkinson's disease therapeutics in the United States also leads to significant market size in terms of revenue.
It is projected that Europe stands second in the global Parkinson’s disease therapeutics market. The increasing government initiatives to promote the healthcare sector and augmented adoption of research and development projects for chronic diseases in the healthcare domain fuel the market in this region. Moreover, the entry of market players into strategic partnerships and collaborations with the chemical industry drives the growth of the market in Europe.
The Asia Pacific is likely to observe growth in the Parkinson’s disease therapeutics market during the review period due to the rising number of healthcare organizations, growing prevalence of Parkinson’s disease. Moreover, the growing incidence of the geriatric population in the region influences market growth. India, China, and Japan are the key market players in this region, and the Asia Pacific is valued to be the fastest-growing market for Parkinson’s disease therapeutics.
The Middle East and Africa hold the least share in the global Parkinson’s disease therapeutics market due to the incidence of stringent government policies and weak economies.
Competitive Analysis
The leading market players identified by MRFR in the global Parkinson's Disease Therapeutics Market Players are GlaxoSmithKline Plc, Salix Pharmaceuticals, Impax Laboratories, LLC, Teva Pharmaceutical Industries Ltd, Apotex Inc., Novartis AG, Mylan N.V., Orion Corporation, Par Pharmaceutical, Cipla Inc., Daiichi Sankyo, and Wockhardt Limited.
Global Parkinson’s Disease Therapeutics Market is becoming exceedingly competitive. The recent product launches and the high number of therapeutics in product pipelines of global pharmaceutical firms are contributing to the progressive nature of the market. Several new product launches are projected during the forecast period, which may lead to substantial changes in market shares of pharmaceutical firms presently active in the market.
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