Parkinson’s Disease Therapeutics Market Explores New Growth Opportunities By 2024

Posted July 14, 2017 by hawerr

Parkinson’s Disease Therapeutics Market is driven by rising prevalence of the disease and increasing demand for new drug therapies and growing disability adjusted life years

Parkinson's disease (PD) is a chronic and progressive neurological disorder where the symptoms continue and worsen with time. The primary symptoms include tremor, slow movements (bradykinesia), rigidity (stiffness), and balance difficulties (postural instability). The disease has no cure currently, but the therapies available minimize the effects of its signs and symptoms. The treatment options of the disease include neurological medications, surgeries, and neurostimulation devices. Globally, the number of patients suffering from the disease is expected to reach two million by 2030, with countries in Europe such as Germany, France, and the U.K. accounting for a majority of the number. The discovery of dopamine plays a key pathological role in Parkinson’s disease while subsequent introduction of therapeutics such as levodopa is a major milestone revolutionizing the Parkinson’s disease therapeutics market. Administration of levodopa in combination with carbidopa is a standard therapeutic treatment of Parkinson’s disease. Comtess/Comtan, Cycloset, Rytary, and Stalevo are commercially available therapeutics.

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Growing disability adjusted life years is driving the growth of the market. According to the World Health Organization, the number of people with disability-adjusted life year due to Parkinson’s disease was 1.7 million globally in 2015. As per the European Parkinson’s Disease Association, the disease treatment cost in Europe was estimated at US$ 12.6 Mn in 2005 and is expected to double by 2030. Rising prevalence of the disease and increasing demand for new drug therapies are the key drivers of the market. About 6.3 million people suffer from Parkinson’s disease according to the European Brain Council.

The global Parkinson’s disease therapeutics market has been segmented based on therapeutic class, distribution channel, and region.

In terms of therapeutic class, the market is categorized as:

Dopamine precursors

> Phenobarbital
> Primidone

Catechol-O-methyl transferase (COMT) inhibitors

> Entacapone
> Tolcapone

Dopamine agonists (non-ergoline)

> Pramipexole
> Ropinirole
> Others (apomorphine and rotigotine)

Monoamine oxidase B inhibitors (MAO-B inhibitors)

> Selegiline
> Rasagiline

Others (amantadine and anticholinergic)

Based on distribution channel, the Parkinson’s disease therapeutics market has been segmented into:

> Hospital pharmacies
> Online pharmacies
> Retail pharmacies
> Drug stores

Based on region, the Parkinson’s disease therapeutics market has been segmented into:

> North America
> Latin America
> Europe
> Asia Pacific
> Middle East & Africa

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Availability of alternative options for the Parkinson’s disease management acts as a major restraining factor for the market growth. There is increasing level of sophistication and technological advances in neurology devices. The increase in demand for home health care devices has led to introduction of implantable neurostimulation devices for the treatment of the disease. Health care professionals are showing favorable inclination toward advanced technologies that will offer superior quality treatment compared to the conventional therapeutics and devices. New devices such as ultrasonic aspirators and stereotactic systems are gaining market acceptance among medical professionals. Hence, competition in the market from other improved Parkinson’s disease management methods can also hamper the growth of the market. Research and development by pharmaceutical companies and research organizations for developing combination therapies to prolong the effect of dopaminergic drugs and to slow down the prognosis of Parkinson’s disease are major factors driving the market growth for Parkinson’s disease therapeutics.

Key players operating in the market include AbbVie, Acorda Therapeutics, Inc., Biogen, Inc., Merck & Co., Novartis AG, Pfizer Inc., UCB, F-Hoffmann-La Roche Ltd, Inc., GlaxoSmithKline, and AstraZeneca plc.

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Issued By Transparency Market Research
Country United States
Categories Health , Medical , News
Tags parkinsons disease therapeutics market
Last Updated July 14, 2017