Global Parkinson’s Disease Drugs Market to Reach US$ 8,383.2 Mn by 2026 Driven by Increasing Drug Approvals

The Global Parkinson’s Disease Drugs Market is expected to gain impetus from increased drug approvals for the treatment of Parkinson’s disease by regulatory authorities from around the world. According to a report published by Fortune Business Insights, titled “Parkinson’s Disease Drugs: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 4,500.0 Mn in 2018. Fortune Business Insights states that the market will reach US$ 8,383.2 Mn by 2026, thereby exhibiting a CAGR of 8.1%.

The increasing incidence of Parkinson’s disease has been a major factor that has created a demand for drugs for the treatment of this disease. Parkinson’s disease is responsible for affecting the brain, thereby creating limitations in movement and other activities associated with the brain. Parkinson’s disease can lead to tremors, limitations in walking, and stiffness in body parts. The severity of Parkinson’s disease has led to rapid demand for drugs related to diagnosis and treatment. Increasing demand will bode well for the global Parkinson’s disease drugs market and is likely to favor the growth of the market in the coming years.

Europe Dominates the Global Market

The high prevalence of Parkinson’s disease across several European countries has contributed to the growth of the regional market. Active government participation, specifically government-aided pharmacies, have induced growth in the Parkinson’s disease drugs market in Europe. Having said that, growing investment in research and development (R&D) and expected launch of potential pipeline drugs will boost the market in North America. Fortune Business Insights predicts that North America is likely to emerge dominant in the global Parkinson’s disease drugs market over the forecast period.

Decarboxylase Inhibitors to Witness High Demand

The decarboxylase inhibitor is a combination of carbidopa and levodopa. Decarboxylase inhibitors have proven attributes including their high clinical efficacy. Among all product types, decarboxylase inhibitors are likely to register the highest CAGR. Fortune Business Insights states that the decarboxylase inhibitors accounted for 37.8% of the total market share in 2018. Furthermore, increasing clinical studies associated with decarboxylase inhibitors will create a huge demand in the forecast period.

Acadia Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd, and UCB S.A to Account more than 50% of the Total Market Share

The high production and sales of Madapor and Neupro by F. Hoffmann-La Roche Ltd, and UCB S.A respectively, have a positive impact on the global Parkinson’s disease drugs market. After the success of Nuplazid, Acadia Pharmaceuticals Inc., is ranked third among the leading players, as per Fortune Business Insights. Furthermore, the launch and commercialization of INBRIJIA has boosted sales of Acadia and this drug will aid the business expansion of the company in the coming years. Together, Acadia Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd, and UCB S.A are likely to account for more than 50% of the total market share during the forecast period.

The report then profiles some renowned companies that have adopted attractive business strategies, aimed at expanding in the global market. Some of the other leading companies that are operating in the global Parkinson’s disease drugs 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 others.

Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/parkinson-s-disease-drugs-market-100655

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