The new report by Expert Market Research titled, ‘Global Parkinson’s Disease Drugs Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global Parkinson’s disease drugs market, assessing the market based on its segments like drug class, route of administration, distribution channels, end use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 7.9%
- Forecast Market Size (2026): USD 8.4 Billion
The rates of Parkinson’s disease have been determined by mainly two factors: the ageing demographics and the diagnosis of the disease, both of which have been high have been in Europe, which is the region with the leading market share in the market for Parkinson’s disease drugs. The same pattern is seen in North America which too has advanced healthcare facilities. With certain countries in Asia Pacific having high populations and an ageing population, like Japan and China, the growth rate of this market is expected to be high for the forecast period 2021-2026. The major market share is in Europe, followed by North America, because the disease can be easily diagnosed with the advanced healthcare and pharmaceutical sector. In Asia Pacific, it is expected that the growth rate in the forecast period is going to be high because of the high population and improving healthcare facilities.
Industry Definition and Major Segments
Parkinson’s disease is a disease, often occurring in elderly people which affects the nervous system and causes problems in motor functions. Common symptoms include stiffness of limbs and difficulty in speech and walking. The primary response to this is medication.
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Depending on drug class, the Parkinson’s disease drugs market can be segmented into:
- MAO-B Inhibitors
- COMT Inhibitors
- Dopamine Agonists
It may be segmented on the basis of route of administration into:
Distribution channels for this market are as follows:
- Hospital Pharmacies
- Retail Pharmacies
The market may be classified by end use as follows:
The regional markets for Parkinson’s disease drugs can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The pattern of investment into the research, pharmaceutical and healthcare sector from both the government and private players indicates a possibility of growth for this market. With strong drug pipelines and the influx of generic drugs due to expiration of patents, the market is sure to expand into new regions, especially developing countries. Increasing concentration of healthcare facilities, including complementary ones like diagnostic labs, and rising number of skilled professionals like neurologists, lab technicians, etc. can be expected to add to the proper diagnosis of Parkinson’s disease in developing countries. Growing health awareness, rising populations, and growing disposable incomes are also expected to push the sales of drugs across all regions.
Key Market Players
The major players in the market are Pfizer Inc., Medtronic plc, GlaxoSmithKline plc, AbbVie Inc., and Novartis AG, amongst others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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