Parkinson’s Disease Therapeutics Market
Globally the market for Parkinson’s disease therapeutics is increasing rapidly. The major factor that drives the growth of the market is the increasing growth in aging population. Furthermore, increasing environmental factors & genetic heredity is increasing the growth of the Parkinson’s disease therapeutics market. Moreover, the risk of Parkinson’s disease increases with age, and the disease mainly affects a person over 50 years of age. The treatments for the Parkinson’s disease are mainly symptomatic and no curative treatment options.
However, expiration of patent drugs is expected to hamper the market growth during the forecast period
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Parkinson’s Disease Therapeutics Market Segmentation
The global Parkinson’s disease therapeutics market is segmented on the basis of treatment type and end-user. The global Parkinson’s disease therapeutics market by treatment type is segmented into medication and surgical therapy. Medication segment is segmented further into dopamine precursors, peripheral decarboxylase inhibitors, COMT inhibitors, MAO inhibitors, and others. Surgery therapy is further segmented into deep brain stimulation (DBS) and carbidopa/levodopa enteral suspension.
On the basis of end-user, the market is categorized into hospitals & clinics, academic & industrial research, and others.
On the basis of region, the global Parkinson’s disease therapeutics market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas is sub-segmented into North America and South America. The North American region is further segmented into the U.S. and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the U.K., Spain, and the rest of Western Europe. The Asia Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.
Parkinson’s Disease Therapeutics Market Regional Analysis
The Parkinson’s disease therapeutics market is dominated by North America owing to the rising healthcare expenditure that contributes to enhancing the market growth in this region. According to Parkinson Association of the Carolinas, approximately 60,000 Americans are diagnosed with Parkinson’s disease each year.
It is estimated that Europe stood second in the global Parkinson’s disease therapeutics market. Rising government initiatives to promote the healthcare sector and increased adoption of research and development activities for chronic diseases in the healthcare domain drive the market in this region. Moreover, the entry of market leaders into strategic partnerships and collaborations with the chemical industry contribute to the growth of the market in Europe.
Asia Pacific is likely to witness growth in the Parkinson’s disease therapeutics market during the forecast period owing to the increasing number of healthcare organizations, increasing prevalence of Parkinson’s disease. Moreover, increasing prevalence of geriatric population in the region influence the market growth. China, India, and Japan are the key market players in this region, and Asia Pacific is expected to be the fastest growing market for the Parkinson’s disease therapeutics.
The Middle East and Africa holds the least share in the global Parkinson’s disease therapeutics market due to the presence of stringent government policies and poor economies.
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Key Market Players
Global Parkinson’s disease Therapeutics Market, by Treatment Type
o Dopamine Precursors
o Peripheral Decarboxylase Inhibitors
o COMT Inhibitors
o MAO Inhibitors
• Surgical Therapy
o Deep Brain Stimulation (DBS)
o Carbidopa/Levodopa Enteral Suspension
Global Parkinson’s disease Therapeutics Market, by End-user
• Hospitals & Clinics
• Academic & Industrial Research
Global Parkinson’s disease Therapeutics Market, by Region
• The Americas
• Asia Pacific
• The Middle East & Africa
• Contract Research Organizations (CROs)
• Academic Medical Institutes and Universities
• Government and private laboratories
• Research and Development (R&D) companies
• Market research and consulting service providers
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