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The global parkinson’s disease drugs market size was valued at USD 4,500.0 Million in 2018, is projected to reach USD 8,383.2 Million by the end of 2026, exhibiting a CAGR of 8.1%.
Parkinson’s disease is a neurodegenerative disease that mainly affects the parts of the human brain responsible for controlling movements making it difficult to perform daily activities. Caused due to the decreased production of dopamine, Parkinson’s disease often results in tremors, stiffness, difficulty in walking, and others.
According to the Parkinson’s UK, in 2015, there were approximately 137,000 people in the UK with Parkinson’s Disease. Levodopa is the most widely used treatment for Parkinson’s disease. Lack of resources for early diagnosis is one of the major factor increasing the severity of the disease, which makes its cure difficult.
Many pharmaceutical companies are conducting studies to develop novel therapy for Parkinson’s disease paving to strategic research collaborations. This factor will, in, turn benefit the market revenue. For instance, in October 2018, Pfizer Inc., one of the prominent pharmaceutical companies partnered with Bain Capital to launch a biopharmaceutical company for developing drugs for Parkinson’s and other conditions of the central nervous system named Cerevel Therapeutics, further boosting the Parkinson’s disease drugs market growth.
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"Decarboxylase Inhibitors to Register the Highest CAGR"
Decarboxylase inhibitors, which consist of carbidopa and levodopa dominated the market with a share of 37.8% in 2018. The segment is estimated to lead market during the forecast period. More preference for levodopa has increased the dominance of levodopa among other Parkinson’s disease drugs.
Moreover, the increased clinical studies and successful launch of products such as RYTARY by Impax Laboratories, Inc. is expected to accelerate the demand for decarboxylase inhibitors in the forecast duration, which will, in, turn contribute to the global Parkinson’s disease drugs market growth.
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In terms of route of administration, the market is categorized into oral and injection. In 2018, the oral segment accounted for maximum share in Parkinson’s disease drugs market owing to the active government recommendations and more preference for oral drugs. Various distribution channels covered under the report are hospital pharmacy, retail pharmacy, and online stores.
"Europe to Lead the Market in 2018"
Europe leads the global Parkinson’s disease market with maximum revenue of USD 1,540.7 Mn in 2018, owing to the increasing prevalence of Parkinson’s disease, active government support through government aided pharmacies. However, improved R&D spending and expected approval and launch of potential pipeline drug candidates is estimated to render the maximum Parkinson’s disease drugs market share to North America at the end of 2026.
Furthermore, the launch of INBRIJA, an inhalation powder to treat patients with Parkinson’s disease by Acorda Therapeutics in the U.S. in February 2019 is anticipated to accelerate the Parkinson’s disease drugs market growth in North America. The market in Asia Pacific is likely to report the highest CAGR during the forecast duration, attributable to the increasing healthcare spending, improved distribution networks in pharma emerging nations and high demand for China and Japan.
Europe Parkinson’s Disease Drugs Market, 2018
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"Acadia Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd, and UCB S.A to Account for More Than Half of the Market Share in Terms of Revenue"
Hoffmann-La Roche Ltd and UCB S.A have emerged as a leading player in the market owing to the higher sales of Madopar and Neupro in 2018. Also, the strategic collaboration of UCB S.A for the distribution of Parkinson’s disease drugs enabled the company to hold a major portion of the market. Acadia Pharmaceuticals Inc. is ranked third in the Parkinson’s Disease drugs market due to the higher demand for Nuplazid.
The share of Acadia Pharmaceuticals Inc., in market, is expected to increase owing to the commercial launch of INBRIJA, an inhalation powder to treat patients with Parkinson’s disease in 2019. Other players operating in the global market are Pfizer, Inc., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., Orion Pharma, Vertical Pharmaceuticals, LLC, ACADIA Pharmaceuticals Inc., Impax Laboratories, Inc., H. Lundbeck A/S and other players.
Parkinson’s disease is a type of neurodegenerative disease that mainly affects the parts of the human brain responsible for controlling movements. Parkinson’s disease is caused due to the deterioration of neurons resulting in decreased production of dopamine. Parkinson’s disease often results in tremors, stiffness, loss of balance, difficulty in walking, and others. According to the European Parkinson’s Disease Association, more than 1.2 million people in Europe are living with Parkinson’s Disease, which is expected to double by 2030.
The rising prevalence of the disease has increased the overall healthcare cost in many countries. Parkinson’s disease drugs are witnessing increased demands across the globe. Presence of potential pipeline products, increased research and active government support is expected to boost the Parkinson’s disease drugs market shares during the forecast period.
The report provides qualitative and quantitative insights on the Parkinson’s disease drugs industry and detailed analysis of market size and growth rate for all possible segments in the market. Market is segmented by drug class, route of administration, and distribution channel. Based on drug class, the market is segmented into Decarboxylase Inhibitors, dopamine agonists, Monoamine Oxidase Type B (MAO-B) Inhibitors, Catechol-o-Methyltransferase (COMT) inhibitors and others.
In terms of route of administration, the market is categorized into oral, injection, and transdermal. The distribution channels which are covered under the report are hospital pharmacy, retail pharmacy, and online pharmacy. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
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Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of Parkinson’s disease, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, new product launch, pipeline analysis, patent analysis, and Parkinson’s disease drugs market key industry trends.
By Drug Class
· Decarboxylase Inhibitors
· Dopamine Agonists
· Monoamine Oxidase Type B (MAO-B) Inhibitor
· Catechol-O-Methyltransferase (COMT) Inhibitors
By Route of Administration
By Distribution Channels
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Fortune Business Insights says that the value of the global Parkinson’s Disease Drugs Market was USD 4,500.0 Million in 2018.
Parkinson’s Disease Drugs Market is projected to reach USD 8,383.2 Million by 2026.
The Parkinson’s Disease Drugs Market will grow at the rate of 8.1% CAGR.