Adult patient segment in the Parkinson’s disease therapeutic market is projected to grow at 6.9% CAGR till 2027 on account of the risk factor of aging that is associated with development of idiopathic Parkinson’s disease.
Selbyville, Delaware, Jan. 26, 2021 (GLOBE NEWSWIRE) --
According to latest report “Parkinson’s Disease Therapeutic Market by Drug Class (Levodopa/Carbidopa, Dopamine Agonists, Adenosine A2A Antagonist, COMT Inhibitors, MAO-B Inhibitors, Glutamate Antagonist), Route of Administration (Oral, Subcutaneous, Transdermal), Patient (Adult, Pediatric), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of Parkinson’s disease therapeutic will cross $8 billion by 2027.
Growing funding in research and development have boosted the developments in the treatment of Parkinson’s disease. The Parkinson’s Foundation invested around USD 3.5 million across 34 research grants to support the work of promising scientists in the field of Parkinson’s disease (PD) in 2020. Additionally, the funding programs by the Michael J. Fox Foundation supports basic, translational and clinical research from academia and industry. Funding opportunities provided by the Parkinson’s Disease Biomarkers Program (PDBP) support discovery projects to promote the identification of progression and diagnostic biomarkers for Parkinson’s disease. Thus, rise in funding provided to R&D sector for production of novel therapies is augmenting the demand and supply of Parkinson’s disease therapeutics.
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Rising awareness among the population will drive the Parkinson’s disease therapeutic market growth. The lack of awareness and knowledge pertaining to Parkinson’s disease in the past years posed barriers to the early diagnosis and provision of optimal care to the affected patients and commenced the launch of several awareness programs. World Parkinson’s Day is dedicated to influence new research and treatment initiatives by increasing awareness pertaining to the Parkinson’s disease. Such programs have fueled the demand and manufacturing of effective therapeutics.
Dopamine agonists segment was valued at around USD 694 million in 2020. Dopamine agonists are preferred for the treatment of Parkinson’s disease because they resemble the effect of dopamine in the brain. The drug class does not have side effects, including, dyskinesia, as caused by other drug classes. In addition, patients suffering from early Parkinson’s disease can be treated for several years before opting for other treatments with dopamine agonists.
Subcutaneous segment in the Parkinson’s disease therapeutic market is projected to witness more than 8.1% growth rate till 2027. Subcutaneous route of administration enhances the efficacy of dopaminergic agents either L-DOPA or dopamine agonists by improving the speed of onset and increased bioavailability. Furthermore, apomorphine is administered via subcutaneous route, also the subcutaneous route assist in reducing the risk of dyskinesia.
Adult patient segment is anticipated to expand at 6.9% CAGR through 2027 owing to the risk factor of aging that is associated with development of idiopathic Parkinson’s disease. Growing aging population across the globe is resulting in the large number of Parkinson’s population.
Brazil Parkinson’s disease therapeutic market size was USD 90 million in 2020 on account of growing incidences of Parkinson’s disease, and substantial economic & infrastructure development in the country. Brazil has a dynamic research sector in pharmacology and biotechnology that is supported by defined government focusing on various diseases. The Brazilian health research policy is engaged in promoting networks and partnerships among scientists in academic institutions for research that are considered fundamental to guarantee the quality of research.
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The key players operating in the Parkinson’s disease therapeutic market include Orion Corporation, Roche, AbbVie Inc., Acadia Pharmaceuticals, Amneal Pharmaceuticals, UCB, Teva Pharmaceutical among others. These industry leaders have implemented several strategic initiatives and innovative product launches to maintain competitive edge in the market.
Table of Contents (ToC) of the report:
Chapter 3 Parkinson’s Disease Therapeutic Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027 (USD Million)
3.3 Industry impact factors
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By drug class
3.4.2 By route of administration
3.4.3 By patient
3.5 COVID-19 impact analysis
3.6 Pipeline analysis
3.7 Porter’s analysis
3.8 Competitive landscape, 2019
3.9 PESTEL analysis
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