USD 4.28 billion
Global Parkinson's Disease Drug Market Size, Share, Growth Analysis, By Drug Type(Decarboxylase Inhibitors (Levodopa/Carbidopa), Dopamine Agonists), By Route of Administration(Oral, Injection), By Distribution Channel(Hospital Pharmacy, Retail Pharmacy) - Industry Forecast 2024-2031
Report ID:
SQSG35I2024 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
91 |
Figures:
76
Global Parkinson's Disease Drug Market Insights
Global Parkinson's Disease Drug Market size was valued at USD 4.28 billion in 2019 and is poised to grow from USD 4.61 billion in 2023 to USD 11.98 billion by 2031, growing at a CAGR of 12.1% in the forecast period (2024-2031).
Parkinson's disease is a neurological condition that primarily affects the areas of the brain that regulate movement, making it challenging to carry out daily tasks. Currently, more than 10 million people in the world are suffering from Parkinson's disease. It is caused by a decline in dopamine production and frequently causes tremors, stiffness, trouble walking, and other symptoms. The increasing prevalence of the disease and the long time period required to control its symptoms are expected to fuel the growth of the Parkinson’s disease drug market over the forecast period. The rise in demand for combination therapies that support neural transplantation, the prolonged action of drugs that continuously stimulate dopaminergic neurons, gene therapy, and government funding initiatives all contribute to the market expansion for Parkinson's disease.
Additionally, the market for Parkinson's disease is positively impacted by the rising population, a better healthcare system, research and development efforts, and higher healthcare costs. Moreover, the Parkinson's disease market players are expected to benefit from lucrative prospects throughout the projected period due to the patent expiration of branded pharmaceuticals and a robust drug pipeline.
US Parkinson's Disease Drug Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospital Pharmacy
Fastest Growth
Hospital Pharmacy
Growth Rate
12.1% CAGR
Global Parkinson's Disease Drug Market 2022-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)
Global Parkinson's Disease Drug Market Size By Distribution Channel 2022-2028 ($ Bn)
Global Parkinson's Disease Drug Market Size By Distribution Channel 2022-2028 (%)
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Global Parkinson's Disease Drug Market Segmental Analysis
The Global Parkinson's Disease Drug Market is segmented based on drug type, route of administration, distribution channel, and region. Based on Drug Type, Parkinson's Disease Drug Market 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, Parkinson's Disease Drug Market is categorized into Oral, Injection, and Transdermal. Based on Distribution Channel, Parkinson's Disease Drug Market is categorized into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. Based on region, Parkinson's Disease Drug Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Parkinson's Disease Drug Market Analysis by Drug Type
On the basis of drug type, the decarboxylase inhibitors segment, particularly Levodopa/Carbidopa, currently dominates the Parkinson's disease drug market. The dominance of levodopa over other Parkinson's disease medications has increased as a result of greater preference for the drug.
Additionally, COMT inhibitors are expected to grow significantly, over the forecast period, due to the high efficiency of catechol-O-methyltransferase (COMT) inhibitors in reducing the motor symptoms of Parkinson's disease. Levodopa (LD) therapy has shown to benefit from the addition of COMT inhibitors since they enhanced LD bioavailability and prolonged LD elimination in Parkinson's disease patients.
Parkinson's Disease Drug Market Analysis by Route of Administration
On the basis of application, the oral route of administration is currently dominating the global Parkinson's disease drug market, due factors including patient compliance, convenience of swallowing, pain avoidance, and adaptability to various drug classes. In order to improve clinical outcomes, a number of dopamine agonists are given orally, including ropinirole and pramipexole. As a result, these variables are increasing the demand for oral administration, which is projected to fuel the market growth.
Parkinson's Disease Drug Market Analysis by Distribution Channel
On the basis of distribution channel, the hospital segment is currently dominating the global Parkinson's disease drug market, owing to its largest market share. Due to the increasing number of patient visits to hospitals as a result of the availability of diagnostic laboratories and the presence of qualified neurologists, hospital pharmacies are anticipated to experience the highest CAGR over the forecast period.
Global Parkinson's Disease Drug Market By Distribution Channel, 2021 (%), 2023 (%)
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Global Parkinson's Disease Drug Market Regional Insights
Based on the region, the European region currently dominates the Parkinson's disease drug market with respect to market share. Due to the rising prevalence of Parkinson's disease and active government assistance through government-assisted pharmacies, Europe commands the worldwide Parkinson's disease market. However, North America is predicted to hold the largest market share for Parkinson's disease medications due to increased research & development spending and the anticipated approval and launch of new pipeline drug candidates, over the forecast period.
Additionally, the market in Asia Pacific is expected to experience the highest CAGR during the forecast period, due to the rising healthcare spending, and enhanced distribution systems in pharma developing countries.
Global Parkinson's Disease Drug Market By Geography, 2022-2028, 2024-2031
- Largest
- Fastest
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Global Parkinson's Disease Drug Market Dynamics
Parkinson's Disease Drug Market Drivers
- The increasing aging population and the rising number of Parkinson's cases: Rising aging populations and increased prevalence of neurological illnesses are two important factors driving the growth of this market. With the increase in the number of patients with Parkinson’s disease, the demand for the drugs required for the treatment of this disease, is also increasing rapidly. This is expected to support the growth of the parkinson’s disease drug market globally, over the forecast period.
Parkinson's Disease Drug Market Restraints
- The high expense of treating Parkinson's disease is projected to limit the market expansion: Parkinson's disease is increasing the economic burden on individuals, families, as well as the national authorities, due to the high cost associated with the treatment of Parkinson’s disease and it is the main factor hampering the growth of the market over the forecast period.
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Global Parkinson's Disease Drug Market Competitive Landscape
The market for medications for Parkinson's disease is getting increasingly competitive. The market is becoming more active as a result of recent product launches and the large number of medicines in the product pipelines of multinational pharmaceutical companies. A number of new products are expected to be released, which could significantly alter the market shares of pharmaceutical companies that are currently engaged in the market, over the forecast period.
Parkinson's Disease Drug Market Top Players Company Profiles
- AbbVie Inc.
- Acorda Therapeutics Inc.
- Adamas Pharmaceuticals Inc.
- Biogen Inc.
- Britannia Pharmaceuticals Ltd.
- Denali Therapeutics Inc.
- F. Hoffmann-La Roche Ltd.
- GlaxoSmithKline plc
- H. Lundbeck A/S
- Impax Laboratories Inc.
- Intec Pharma Ltd.
- Ipsen S.A.
- Kyowa Hakko Kirin Co. Ltd.
- Merck & Co. Inc.
- Neurocrine Biosciences Inc.
- Novartis International AG
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- UCB S.A.
- Zambon S.p.A.
Parkinson's Disease Drug Market Recent Developments
- In May 2021, PharmaTher's investigational new drug (IND) was approved by the U.S. Food and Drug Administration (FDA) for ketamine as a treatment for levodopa-induced dyskinesia in people with Parkinson's disease, clearing the path for PharmaTher to proceed with the phase II clinical trial to study low dose Ketamine.
- In April 2021, Optimus Pharma announced that the company has received the approval for its drug Safinamide from DCGI. Safinamide is indicated as an adjunctive treatment to levodopa/carbidopa in patients with Parkinson's disease (PD). With this, the company is set to contribute to the delivery of effective Parkinson's disease therapy in India that is both accessible and inexpensive.
Global Parkinson's Disease Drug Key Market Trends
- Increasing research and development for treatment of Parkinson’s disease: A key trend in the market for Parkinson's treatments is the rise in government and corporate funding for research and development of Parkinson's disease medications. Companies involved in the drug development for this disease are working towards developing new and innovative drugs for the treatment of the disease. Therefore, the market for Parkinson’s disease drugs is expected to be supported by rising investments in the development of Parkinson's drugs.
Global Parkinson's Disease Drug Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global Parkinson's disease drug market is currently led by countries in the European region, due to the rising prevalence of Parkinson's disease and active government-assisted pharmacies in this region. Along with this, the oral route of administration of Parkinson's disease drugs holds the largest market share owing to its advantages such as convenience of swallowing, and pain avoidance among others, over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.28 billion |
| Market size value in 2031 | USD 11.98 billion |
| Growth Rate | 12.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Parkinson's Disease Drug Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Parkinson's Disease Drug Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Parkinson's Disease Drug Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Parkinson's Disease Drug Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Parkinson's Disease Drug Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Parkinson's Disease Drug Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Parkinson's Disease Drug Market Report Snapshots
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