In the fiscal year 2023, the global Parkinson’s disease market is poised to reach a value of US$ 5.41 Billion, marking a significant increase from US$ 4.82 Billion in the fiscal year 2022. Projections indicate a steady growth trajectory from 2023 to 2033, with an anticipated compound annual growth rate (CAGR) of 12.2%. This growth trend is expected to culminate in a market value of US$ 17.12 Billion by the conclusion of 2033.
Parkinson’s disease, a neurological disorder, leads to the degeneration of nerve cells in a specific region of the brain. It manifests in a multitude of ways, encompassing symptoms such as muscle stiffness, emotional distress, memory impairments, coordination and balance issues, blood pressure fluctuations, and cognitive challenges. Although Parkinson’s disease remains incurable, various treatment modalities exist, including surgical interventions, pharmaceuticals, and various therapeutic approaches.
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When a patient’s medications are not functioning effectively, it can lead to an increase in Parkinson’s disease (PD) symptoms including tremor and walking problems, which is known as an “off episode.” In the US, NOURIANZ (istradefylline), an antagonist of the adenosine A2A receptor, is used for Parkinson’s disease. The medication offers patients with Parkinson’s disease a brand-new non-dopaminergic once-daily oral treatment alternative. Such developments are expected to spur global growth in the Parkinson’s disease market from 2023-2033.
Key Takeaways from the Market Study
- The global Parkinson’s disease market is currently worth more than US$ 4.82 Billion.
- In 2023, the Carbidopa-levodopa segment by drug class type is expected to take the dominant market share of 32%.
- In 2023, considering the age type, the adult segment is predicted to gain a 21% market share.
- The North American market for Parkinson’s disease is predicted to grow with a steady CAGR of 12.5% from 2023-2033.
- The APAC for Parkinson’s disease is expected to grow with a steady CAGR of 12% during 2023-2033.
“The market is anticipated to expand as more drugs are approved for the treatment of Parkinson’s disease and as there is a robust pipeline of novel medications being developed for the condition.” comments a Future Market Insights analyst.
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Competitive Landscape
Some of the top players in the global Parkison’s disease market are:
- Sunovion Pharmaceuticals
- Adamas Pharmaceuticals
- Neurocrine Biosciences
- Supernus Pharmaceuticals
- Alectos Therapeutics
- Kyowa Kirin
- AbbVie
- Integrative Research Laboratories AB
- Annovis Bio Inc.
- Cerevel Therapeutics
- Biogen Inc.
- Amneal Pharmaceuticals
Some of the recent developments in this domain are:
- Biogen Inc. and Alectos Therapeutics signed an agreement in June 2022 to develop and market GBA2 inhibitors (AL01811), a possible therapy for Parkinson’s disease patients. This agreement grants Biogen worldwide rights to research, manufacture, and commercialize AL01811. They think they will be well-suited to assist bring AL01811 to patients who need it by combining Alectos’ experience in small-molecule therapies with Biogen’s worldwide development expertise in Parkinson’s disease. They are indeed energized by the prospect of using Biogen’s commercial skills to raise the standard of treatment in Parkinson’s disease as well as movement disorders in general.
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More Valuable Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Parkinson’s disease market, presenting historical demand data (2018-2022) and forecast statistics from 2023 to 2033.
The study divulges essential insights on the market based on the parkinson’s disease market by type (juvenile parkinson disease, young-onset parkinson’s disease, idiopathic parkinson disease), by age (adult and pediatric), by diagnosis (CT Scan, MRI Scan, DaTSCAN-SPECT scan, PET Scan), by drug class (carbidopa-levodopa, carbidopa-levodopa infusion, dopamine agonists, monoamine oxidase b inhibitors, catechol o-methyltransferase inhibitors, anticholinergics, amantadine) and regions.
Key Segments Profiled in the Amyotrophic Lateral Sclerosis Industry Survey
Treatment:
- Medication
- Stem Cell Therapy
- Others
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Others
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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