Market Overview
Parkinson’s Disease Therapeutics Market Size is projected to achieve a value of USD 5.21 Billion in 2023, with a linear behavior in the market growth it is forecasted to achieve a value of USD 12.32 Billion by 2033 with a CAGR of 8.8% during the forecast period 2024-2033.
Parkinson's disease is a neurological condition that impairs movement. Tremors, stiffness, delayed mobility, and poor balance are some of its symptoms. It is caused by the death of dopamine-producing brain cells, which interferes with the brain's ability to communicate with the muscles, making control and coordination difficult. The specific origin is still unknown, but with time, symptoms get worse. In order to enhance the quality of life for people who are impacted, treatment attempts to manage symptoms with medicine, counseling, and occasionally surgery.
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The market for Parkinson's disease therapeutics is driven by an aging population and ongoing scientific developments. Important motivators include the development of novel therapeutics like gene therapy and stem cell transplantation, as well as technological advancements in drug delivery methods. Moreover, rising healthcare costs and awareness both support market expansion. All of these things work together to improve patient outcomes, expand the market, and increase treatment alternatives, all of which promote a more all-encompassing approach to managing Parkinson's disease.
Market Scope
Report Attributes |
Description |
Market Size in 2023 |
USD 5.21 Billion |
Market Forecast in 2033 |
USD 12.32
Billion |
CAGR % 2024-2033 |
8.8% |
Base Year |
2023 |
Historic Data |
2016-2022 |
Forecast Period |
2024-2033 |
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
Segments Covered |
By Drug Class, By Route of
Administration, By Distribution Channel and By Region |
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
Country Scope |
U.S.; Canada; U.K.; Germany; France;
Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South
Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi
Arabia; UAE; Egypt; South Africa; Nigeria |
Parkinson’s Disease Therapeutics Industry: Dynamics & Restrains
Market Drivers
Market Restrains
Research Report Following Segments
Market- By Drug Class Analysis
By Drug Class, the Parkinson’s Disease Therapeutics Market is Categories into Levodopa, Dopamine agonists, MAO-B inhibitors, Anticholinergics, Others. The Levodopa segment accounts for the largest share of around 32% in 2022.
Levodopa remains an important component of
Parkinson's disease treatment due to its remarkable symptom-relieving
properties. It is still commonly used today because it increases dopamine
levels in the brain.
The
following segments are part of an in-depth analysis of the global market for
Parkinson's disease therapies:
Market Segments |
|
By Route of Administration |
·
Oral ·
Injectable ·
Nasal ·
Transdermal ·
Others |
By Distribution Channel |
·
Hospital Pharmacies ·
Retail Pharmacies ·
Online Pharmacies |
Market Regional Analysis
North
America dominate the Parkinson’s Disease Therapeutics Market with the highest
revenue generating market with share of more than 46%. North America is home to
a sophisticated healthcare system with a large number of hospitals and clinics.
This makes it easier for patients to receive therapy for Parkinson's disease. Among
the leading pharmaceutical companies in the world with North American
headquarters are AbbVie, Pfizer, and Novartis. These companies are investing
large sums of money in the research and development of innovative treatments
for Parkinson's disease.
Europe
is the second-largest market for Parkinson’s Disease Therapeutics market. Due
to Parkinson’s disease affects an estimated 1.2 million people in Europe,
making it a very common condition. Europe's governments are investing a large
amount of money in the search for new Parkinson's disease treatments.
Asia
Pacific is expected to be the fastest-growing market for Parkinson’s Disease
Therapeutics during the forecast period. The aging population in this region is
the biggest and fastest-growing worldwide. As a result, there are more persons
suffering from Parkinson's disease. People in the area are finding it more
affordable to have Parkinson's disease therapy as their disposable income
rises. In the area, there is a rising awareness of Parkinson's disease, which
is encouraging more people to seek treatment.
Competitive Analysis
The
Parkinson’s Disease Therapeutics Market is dominated by a few large companies,
such as
·
Zydus Cadila
·
Novartis AG
·
GlaxoSmithKline Plc.
·
AbbVie Inc.
·
Merck & Co., Inc.
·
Dr. Reddy’s Laboratories
·
Teva Pharmaceutical
Industries Ltd.
·
Sun Pharmaceutical
Industries Ltd.
·
Cipla Inc.
·
Denali Therapeutics Inc.
·
Boehringer Ingelheim
International GmbH
·
Biogen Inc.
·
Prevail Therapeutics
·
Voyager Therapeutics
·
Eli Lilly and Company
Recent Development
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
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The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Parkinson’s Disease Therapeutics Market was valued at USD 4.31 Billion in 2022.
Parkinson’s Disease Therapeutics Market size will increase at approximate CAGR of 8.8% during the forecasted period.
Major companies operating within the Parkinson’s Disease Therapeutics Market are Zydus Cadila, Novartis AG, GlaxoSmithKline Plc., AbbVie Inc., Merck & Co., Inc., Dr. Reddy’s Laboratories, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Cipla Inc., Denali Therapeutics Inc., Boehringer Ingelheim International GmbH, Biogen Inc., Prevail Therapeutics, Voyager Therapeutics and Eli Lilly and Company.
North America dominates the market with an active share of 46%.
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