Parkinson's Disease Drugs Market

Parkinson's Disease Drugs Market Research, 2031

The global Parkinson's disease drugs market size was valued at $5.7 billion in 2021, and is projected to reach $10.4 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031. Parkinson’s disease, also called as idiopathic Parkinsonism and neurodegenerative disease. It is a progressive condition that affects both the neurological system and the bodily components that are under the control of the nervous system. The dopamine is produced in the region of brain is substantia nigra. The dopamine level is decrease in Parkinson’s disease due to substantia cells begin to die in brain. 

The global Parkinson’s disease drugs market also declined in 2020 due to global economic recession led by COVID-19. However, market witness recovery in the year 2021, owing to increase in adoption of Parkinson’s disease drugs and rise in R&D pipeline products of Parkinson’s disease drugs.

Environmental and genetic factors are potential causes of Parkinson’s disease. Those with an affected family member are at an increased risk of getting the disease, with certain genes known to be inheritable risk factors. The signs and symptoms include tremor, slowed movement, rigid muscles, impaired posture and balance, speech changes, etc. The symptoms usually emerge slowly, and as the disease worsens, non-motor symptoms become more common. The major risk factor is an age and others factors such as environmental and heredity.

Increase in demand for Parkinson’s disease drugs is anticipated to increase globally during the forecast period, owing to rise in geriatric population which drive growth of the market. Moreover, an increase in investments by key players toward R&D related to Parkinson’s disease drugs, coupled with rise in geriatric population are some factors further drive growth of the Parkinson's disease drugs industry. However, side effects associated with Parkinson’s disease drugs may limit the market growth. Conversely, high growth potential in untapped emerging countries and increase in R&D pipeline products are expected to offer lucrative Parkinson's disease drugs market opportunity to the key players. 

The Parkinson’s disease drugs market size is segmented on the basis of drug class, route of administration, age group and region. On the basis of drug class, the market is classified into decarboxylase inhibitors, dopamine agonists, COMT inhibitors, MAO-B inhibitors and others. On the basis of route of administration, it is segmented into oral, injection and transdermal. On the basis of age group, it is segmented into 50 or below 50 and above 50 years. Furthermore, on the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 Impact Analysis

The COVID-19 pandemic has curtailed the movement of people, goods, and services worldwide, disrupted supply chains, restricted sales operations, marketing efforts, and customer field support, and impeded the shipping and delivery of products to customers. As a result, many companies experienced a decline in the sales of their revenue in 2020. However, a resurgence in testing numbers is seen as countries gradually ease restrictions on movement. With the COVID-19 pandemic, responding to infectious disease has become a pressing medical issue worldwide. In addition to the development of vaccine and therapeutics drugs, COVID-19 has also impacted the regulatory environment and practices, as governments and healthcare providers face unprecedented challenges. Moreover, decrease in sales of Parkinson’s disease drugs and less hospital visits of Parkinson’s disease patients during pandemic negatively impacted the growth of Parkinson's disease drugs industry in 2020. However, the market is anticipated to witness recovery in 2021, and show stable growth during Parkinson's disease drugs market forecast.

Global Parkinson’s Disease Market by Drug Class

By drug class, the Parkinson’s disease drugs market are divided into decarboxylase inhibitors, dopamine agonist, COMT inhibitors, MAO-B inhibitors and others. The decarboxylase inhibitors segment accounted for the largest Parkinson’s disease drugs market share in 2021, and is projected to grow at a CAGR of 6.2% during the forecast period owing to the rise in the prevalence of Parkinson’s disease and development associated with decarboxylase inhibitors are. On the other side, COMT inhibitor expected to register for the fastest growth rate during the forecast period owing to advantages associated with COMT inhibitors such as long-lasting enzyme inhibition, reduces the adverse effects of drugs and less levodopa dose.

Global Parkinson’s Disease Drugs Market by Route Of Administration

By route of administration, the Parkinson's drugs market is segmented into oral, injection, and transdermal. The oral segment was the major revenue contributor in 2021, and is anticipated to exhibit the fastest growth during forecast period, owing to the more pre-determined doses, convenience and patient self-administration.

Global Parkinson’s Disease Drugs Market by Age Group

By age group, the Parkinson's drugs market is divided into 50 or below 50 and above 50 years. The above 50 years segment dominated the global market in 2021, and is anticipated to continue this trend during the forecast period. This attributed to increase in ageing population as the age is risk factor for Parkinson’s disease boost the above 50 years segment. 

Global Parkinson’s Disease Drugs Market by Region

By region, the Parkinson’s disease drugs market are analyzed across North America, Asia-Pacific, Europe, and LAMEA. North America dominated the Parkinson’s disease drugs market share in 2021, accounting for the highest share, and is anticipated to maintain this trend during the forecast period. This is attributed to the factors such as availability of a diagnostic laboratories, skilled neurologists and presence of key players in the region. Furthermore, high quality healthcare U.S. is anticipated to boost the growth of the North America market.

However, Asia pacific is projected to register the highest CAGR during the forecast period. This is attributed to availability of services for Parkinson’s disease patients and presence of skilled neurologists are the key driving factors that boost the Parkinson's disease drugs market growth in the region.

The major companies profiled in the report include AbbVie Inc., Amneal Pharmaceuticals Inc Cantata Bio, Biogen Inc., C.H. Boehringer Sohn Ko.KG, Eli Lilly company, Glaxosmithkline Plc, Gentech Healthcare, Intas Pharmaceuticals Limited, Orion Corporation, Novartis AG, Pfizer Inc., Square group, Sun Pharmaceutical Industries Limited, Teva Pharmaceuticals, Torrent Group, UCB pharma, Viatris Inc.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the parkinson's disease drugs market analysis from 2021 to 2031 to identify the prevailing parkinson's disease drugs market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the parkinson's disease drugs market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global parkinson's disease drugs market trends, key players, market segments, application areas, and market growth strategies.

 Parkinson's Disease Drugs Market Report Highlights