Parkinson's Disease Drugs Market - Growth, Trends, and Forecast (2019-2024)

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Jul 15, 2019, 18:29 ET

NEW YORK, July 15, 2019 /PRNewswire/ -- Market Overview
Parkinson's disease is a chronic disorder that gradually leads to progressive deterioration of motor functions, caused by the loss of dopamine-producing brain cells. Parkinson's disease drugs market is expected to witness significant growth, owing to the increasing cases of Parkinson's disease, with the growth in aging population levels. Therefore, it may drastically result in increasing the market size during the forecast period. Pharmaceutical firms are developing new and improved therapies for Parkinson's disease (PD), and recently, there have been some major product launches in Parkinson disease therapeutics and other assistive therapeutics. For instance, Adamas Pharmaceuticals' amantadine extended-release capsules / Gocovri launched in Jan 2018, which was the first drug indicated for dyskinesia developed due to long-term use of levodopa. Furthermore, most of the global firms have a robust drug pipeline for the treatment of Parkinson's disease, and as per the estimates, the forecast period may witness the launch of a few blockbuster drugs.

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Scope of the Report
Parkinson's disease drugs market has been segmented by the mechanism of action and geography. BY mechanism of action, the market studied is segmented into dopamine agonists, anticholinergic, MAO-B inhibitors, amantadine, carbidopa-levodopa, COMT inhibitors, and other mechanisms of action. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Key Market Trends
COMT (Catechol-O-Methyltransferase) Inhibitors are expected to Register Robust growth

Carbidopa-levodopa Therapy is the most effective medication for alleviating the motor symptoms of PD. However, it has been observed that this medication is not as effective as intended. Therefore, it is imperative that co-therapeutic agents, such as COMT (catechol-O-methyltransferase) inhibitors, are used along with carbidopa-levodopa therapy. The two most common COMT inhibitors, used in the treatment of Parkinson's disease, are Comtan (entacapone) and Tasmar (tolcapone). Both these medications are available in the form of tablets. In addition, these medications are routinely prescribed in conjunction with carbidopa-levodopa therapy.

The United States Represents the Largest Market for Parkinson's Disease Therapeutics

According to the National Institute of Health, approximately 1.2 million people in the United States are predicted to have Parkinson's disease by 2030. It is the second-most common neurodegenerative disorder in the United States. In addition, there are thousands of patients who go undetected. As the aging population levels continue to grow, the number of people suffering from Parkinson's disease (PD) will continue to grow, and this is expected to double by 2040. The sheer number of Parkinson's disease patients, combined with the availability of reimbursements and high awareness, is boosting the growth of the market. Furthermore, the high cost of Parkinson's disease therapeutics in the United States also leads to significant market size in terms of revenue. The average cost of Parkinson's medication is approximately USD 2,500 per year and Parkinson's-related surgery can cost up to USD 100,000 per patient.

Competitive Landscape
Parkinson's disease drugs market is becoming highly competitive. The recent product launches and the high number of therapeutics in product pipelines of global pharmaceutical firms are contributing to the dynamic nature of the market. Several new product launches are expected during the forecast period, which may lead to significant changes in market shares of pharmaceutical firms currently active in the market.

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