Global Parkinson’s Disease Therapeutics Market: Treatment Type (Medication and Surgical Therapy (Deep Brain Stimulation (DBS) and Carbidopa/Levodopa Enteral Suspension), End-User (Hospitals & Clinics, Academic & Industrial Research) - Forecast Till 2027
The global market for Parkinson's disease therapeutics is expected to grow significantly during the forecast period of 2017 to 2023 according to a new research report by Market Research Future (MRFR). The lack of effective treatment options and the increasing occurrence of the disease has catapulted market growth as there is a high, unmet demand.
The awareness surrounding the disease has grown significantly in the last few years, thus facilitating growth. Moreover, the condition commonly affects the geriatric demographic which is a globally steady growing one. The development of promising drugs and new launches of products and services that assist in the treatment of this currently incurable disease are expected to fuel the considerable growth of the market during the forecast period.
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Since the cause of this disease is widely suspected to be genetic; genomic treatment options are expected to gain traction in the coming years. The chronic, degenerative neurological disorder is not fully understood, and as such is often misdiagnosed which poses a challenge to market growth. However, ongoing research, the fervent development of treatment options and encouraging regulations surrounding the market are expected to facilitate growth in the coming years. Collaborations between pharmaceutical companies and research facilities are expected to provide oppurtunites for growth.
Analysis of the competitive landscape of the global Parkinson's Disease Therapeutics Market Size provides a comprehensive view of strategies used to influence market growth. Prominent players featured in MRFR's report are Impax Laboratories Inc., Merck & Co., Abbott, Acadia Pharmaceuticals Inc., Newron, and others.
Segmental evaluation of the market has been done in the report to allow an extensive view of the market and its various components. The global Parkinson's disease therapeutics market has been segmented by diagnostics tests, drugs, and region.
By diagnostic tests, the market has been segregated to include positron emission tomography (PET) scans, magnetic resonance imaging (MRI), and computed tomography (CT) scan.
By drugs, the market has been divided into, Sinemet, dopamine agonists, Symmetrel, anticholinergics, Eldepryl and Azilect, COMT and others.
By region, the global market has been divided into North America, Europe, the Asia-Pacific and the Middle East & Africa.
North America and Europe have the two largest shares with North Ameria's market share being the most significant. This is primarily due to the prevalence of Parkinson's disease in developed countries where there are high populations of geriatrics. Several eminent market players have been significant contributors to the market and are expected to continue as such in the coming years. Increase in research funding and favorable insurance reimbursements for medical costs are expected to fuel market growth for these regions during the forecast period.
Meanwhile, the Asia-Pacific is anticipated to grow at a steady CAGR during the forecast period. Emerging economies with a growing geriatric population are expected to drive growth for this region.
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