The Parkinson’s Disease Drugs market is being driven by the growth in aging population and the associated increase in the prevalence of Parkinsons disease and government funding for research.
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This report aims to provide insights into the global Parkinson’s disease treatment market. It provides valuable information on the market classification by drug class, distribution channels, and patient care setting. Details on regional markets for these segments have also been presented in this report. In addition, leading players in the market are profiled to understand the strategies undertaken by them to be competitive in this market.
The Parkinsons disease treatment market is expected to reach USD 5.69 Billion by 2022 from USD 4.24 Billion in 2017, at a CAGR of 6.1%.
By drug class, the carbidopa/levodopa segment is estimated to dominate the market in 2017
On the basis of drug class, the Parkinsons disease therapeutic drugs market is segmented into carbidopa/levodopa, dopamine receptor agonists, MAO inhibitors, COMT inhibitors, anticholinergics, and other drugs. In 2017, the carbidopa/levodopa segment is expected to account for the largest share of the market. Carbidopa/levodopa drugs are more potent than most other drug classes are hence widely used in the treatment of Parkinson’s disease.
By distribution channel, the hospital pharmacies segment is estimated to hold the largest share of the market in 2017
By distribution channel, the Parkinsons disease therapeutic drugs market has been segmented into hospital pharmacies, retailer pharmacies, and online pharmacies. In 2017, the hospital pharmacies segment is expected to account for the largest share of the market. The large share of this segment can primarily be attributed to the availability of a wide range of drugs in these facilities and the increasing number of patient visits to hospitals.
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Hospitals to dominate the Parkinsons disease treatment market during the forecast period
The Parkinsons disease treatment market is classified by patient care settings into hospitals and clinics. In 2017, the hospital segment is expected to command the largest share and is estimated to grow at the fastest rate as compared to clinics segment. This market is mainly driven by robust healthcare services provided in hospitals and the presence of skilled neurologists in the hospitals.
Asia to offer lucrative growth opportunities
By region, the global Parkinsons disease treatment market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). While Europe is expected to hold the largest share of the market in 2017, Asia is expected to grow at the highest CAGR during the forecast period. Increasing number of players in the region and the rising aging population are some major factors driving the high growth of this regional segment.
Some of the major players operating in the Parkinsons disease treatment market include Teva (Israel), Novartis AG (Switzerland), GSK (UK), AbbVie (US), Merck (US), Boehringer Ingelheim (Germany), Impax Laboratories (US), Lundbeck (Denmark), Sun Pharma (India), Wockhardt (India), UCB (Belgium), Valeant Pharmaceuticals (Canada), and Acadia (US).
Teva is one of the key players in the Parkinson’s disease treatment market. The company focuses on organic and inorganic strategies to strengthen its position in the Parkinson’s disease treatment market. For instance, in 2015, the company entered into an agreement with Takeda pharmaceutical company to commercialize rasagiline tablets in the Japan. Moreover, the company received FDA approval for AZILECT drug to treat all stages of the Parkinson’s disease
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