PUBLISHER: SkyQuest | PRODUCT CODE: 1270678
PUBLISHER: SkyQuest | PRODUCT CODE: 1270678
Global Parkinson's Disease Drug Market size was valued at USD 4.28 billion in 2021 and is poised to grow from USD 4.61 billion in 2022 to USD 11.98 billion by 2030, growing at a CAGR of 12.1% in the forecast period (2023-2030).
Parkinson's disease is a neurological ailment that mostly affects the parts of the brain responsible for controlling movement, making it difficult to perform daily tasks. Parkinson's disease currently affects more than 10 million people worldwide. Tremors, stiffness, difficulty walking, and other symptoms are typically seen because of the decrease in dopamine production that results from it. Over the course of the forecast period, the Parkinson's disease drug market is anticipated to rise due to the rising prevalence of the condition and the lengthy time period needed to manage its symptoms. The market for Parkinson's disease is growing due to a variety of factors, including the surge in demand for combination medicines that promote brain transplantation, the extended effect of medications that constantly stimulate dopaminergic neurons, gene therapy, and government funding programmes.
The Parkinson's disease market is also benefited by the growing population, an improved healthcare system, research and development initiatives, and greater healthcare costs. Due to the patent expiration of branded medications and a strong drug pipeline, the Parkinson's disease market players are also anticipated to profit from profitable prospects for the duration of the projected time.
Top-down and bottom-up approaches were used to estimate and validate the size of global Parkinson's Disease Drug Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.
Segments covered in this report
The Global Parkinson's Disease Drug Market is segmented based on drug type, route of administration, distribution channel, and region. Based on Drug Type, it is categorized into Decarboxylase Inhibitors (Levodopa/Carbidopa), Dopamine Agonists, Monoamine Oxidase Type B (MAO-B) Inhibitor, Catechol-O-Methyltransferase (COMT) Inhibitors. Based on Route of Administration, it is categorized into Oral, Injection, and Transdermal. Based on Distribution Channel, it is categorized into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Drivers
The ageing of the population and the rise in Parkinson's cases: Two significant factors influencing the growth of this market are the increasing ageing of the population and the incidence of neurological diseases. Parkinson's disease sufferers are becoming more numerous, which is driving up demand for the medications needed to treat the condition. Over the projected period, this is anticipated to boost the expansion of the global market for Parkinson's disease medications.
Restraints
It is anticipated that the market expansion will be constrained by the high cost of treating Parkinson's disease: Due to the high cost of treating Parkinson's disease, which is the primary factor impeding the market's growth throughout the forecast period, the financial burden of Parkinson's disease is growing on people, families, and the national government.
Market Trends
An increase in Parkinson's disease research and development: The increase in funding from governments and businesses for the study and development of Parkinson's disease pharmaceuticals is a significant trend in the market for Parkinson's therapies. Companies engaged in the drug development for this condition are working to create novel and cutting-edge treatments for the condition. As a result, growing investments in the creation of Parkinson's pharmaceuticals are anticipated to sustain the market for medications treating the condition.