This report offers an extensive analysis of the Global Parkinson’s Disease Drugs Market, encompassing drivers, restraints, opportunities, trends, and forecasts for the period 2018-2024. Parkinson’s disease is among the most prevalent neurodegenerative disorders, typically progressing with age due to damage to dopaminergic cells in the brain.
Symptoms of Parkinson’s disease include bradykinesia, rigidity, postural instability, and tremors. The market’s growth is primarily driven by a substantial patient pool and an increasing rate of diagnoses. The Parkinson’s Disease Foundation reports that nearly 10 million people globally suffer from this disorder, with the highest frequency observed in developed countries. In the US alone, approximately 60,000 new cases are reported annually.
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Parkinson’s disease remains idiopathic, with the cause of its occurrence still unknown. Therefore, only symptomatic drugs are currently available for treatment. Moreover, the disorder is often diagnosed in its later stages, when a majority of dopamine-producing cells have already lost functionality. This underscores the need for more innovative and novel drugs for treatment.
Market Analysis
The “Global Parkinson’s Disease Drugs Market” is projected to witness a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period from 2018 to 2024. The market analysis is based on two segments: drug class and regions.
Regional Analysis
The regions covered in this report include North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America holds the largest market share, followed by Europe, Asia Pacific, and the Rest of the World. Europe accounts for over 40% of the market, with Germany being a major contributor to market growth.
Drug Class Analysis
Based on drug classes, the market is segmented into levodopa, MAO-B inhibitors, COMT inhibitors, dopamine agonists, anticholinergics, and others. Levodopa stands out as the most attractive drug in the market, offering highly effective treatment for controlling motor symptoms throughout the various stages of Parkinson’s disease. In January 2018, Adamas Pharmaceuticals Inc. launched Gocovri, a treatment for dyskinesia in individuals with Parkinson’s disease who are taking levodopa. This innovative drug addresses dyskinesia and is designed for long-term use alongside levodopa.
Key Players
Major players in the market include Novartis, Roche, AbbVie, Teva Pharmaceutical, Pfizer, STADA Arzneimittel AG, GSK, Valeant, Merck & Co. Inc., and Amneal Pharmaceuticals Inc.
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Competitive Analysis
Market players are pursuing strategies such as new product launches and collaborations to maintain their leadership positions and strengthen their market presence. In January 2015, Neuropore Therapies Inc. and UCB S.A. signed a commercialization agreement for NPT200-11. Recent US FDA approvals for Parkinson’s disease treatments include Impax Pharmaceuticals’ RYTARY and AbbVie’s DUOPA. Other strategies adopted by market players involve business partnerships, mergers and acquisitions, and multi-faceted pipelines. In January 2018, Adamas Pharmaceuticals Inc. launched Gocovri for the treatment of dyskinesia in individuals with Parkinson’s disease who are taking levodopa.
Benefits
This report provides comprehensive insights into the usage and adoption rates of Parkinson’s disease drugs in various regions. Key stakeholders can gain knowledge about major trends, drivers, investments, and initiatives by industry players and governments. Additionally, the report highlights significant challenges that may impact market growth and identifies key business opportunities for stakeholders seeking to expand their presence and revenue in specific verticals. It serves as a valuable resource for informed decision-making before investing in or expanding business operations within this market.
Key Stakeholders
- Healthcare providers
- Pharmaceutical companies
- Regulatory authorities
- Research institutions
- Distributors and suppliers
- Patients and caregivers
- Investors and venture capitalists
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Market Dynamics:
Surging air traffic:
- As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability:
- The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability:
- The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization:
- The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation:
- The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems:
- The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology:
- Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation:
- The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets:
- Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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