Parkinson’s disease is one of the major prevalent neurodegenerative disorders, which progresses with age due to the damaged dopaminergic cells in the brain. Bradykinesia, rigidity, postural instability, and tremors are the symptoms of Parkinson’s disease. Wide patient pool and growing rate of diagnosis are the effective aspects fueling the market growth. Parkinson’s disease Foundation has stated that nearly 10 million people are suffering from these disorders across the globe. The uppermost frequency of this disorder is witnessed in the industrialized regions, and in the US, almost 60,000 fresh cases are reported per annum.
According to the report analysis, ‘Global Parkinsons Disease Drugs Market 2018-2024’ states that there are several key players which are recently functioning in this market more actively for leading the fastest market growth and registering the high value of market share across the globe throughout the forecasted period while developing the prevalence of the Parkinson Diseases and growing aging populace includes Novartis, Roche, AbbVie, Teva Pharmaceutical, Pfizer, STADA Arzneimittel AG, GSK, Valeant, Merck & Co. Inc., Amneal Pharmaceuticals Inc. and several others.
Moreover, the Parkinson’s disease is an idiopathic disease for which the source of the manifestation is still unidentified; therefore only suggestive drugs are obtainable in the market for the handling. Moreover, the syndrome is established in the ending stages when the mainstream of the cells that introduce dopamine misplace their functionality. This is requiring more innovative and novel drugs for the treatment.
Additionally, fresh product presentation and partnership are the prime approaches being followed by the market players to preserve their lead and reinforce the market situation. In January 2015, the Neuropore Therapies Inc. and UCB S.A. contracted a commercialization agreement for NPT200-11. In the recent era, the Impax Pharmaceuticals’ RYTARY and AbbVie’s DUOPA acknowledged the US FDA approval for the treatment of Parkinson’s disease. Moreover, the other stratagems involve business partnerships, mergers & acquisitions, and a multilayered pipeline. Presently, in January 2018, the Adamas Pharmaceuticals Inc. propelled the Gocovri for the treatment of dyskinesia in personalities with PD, who are enchanting levodopa.
The Global Parkinson’s Disease Drugs Market is projected to observe an effective CAGR of 7.2% during the forecast period of 2018-2024. Whereas, the global market of the idiopathic disease is sectored into different sectors which majorly involves drug class and regions.
Based on drug classes, the market is sectored into levodopa, MAO-B inhibitors, COMT inhibitors, dopamine agonists, anticholinergics, and others. Levodopa is the maximum attractive drug in the market due to its exceedingly effective treatment in supervisory the motor indications throughout the junctures of Parkinson’s disease.
Nonetheless, based on the region, the market of Parkinson’s disease is spread across the globe which majorly includes North America, Europe, Asia Pacific, and Rest of the World (RoW). North America registers for the principal share of the market, followed by Europe, Asia Pacific, and Rest of the World. More than 40% of the market is employed by Europe, with Germany being the foremost sponsor to the market growth. Therefore, in the coming years, it is predicted that the market of Parkinson’s disease will increase across the globe more positively over the near future.
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Ankur Gupta, Head Marketing & Communications