The Global Parkinson’s Disease Market Size accounted for USD 2,540 Million in 2021 and is estimated to achieve a market size of USD 6,705 Million By 2030 growing at a CAGR of 11.5% from 2022 to 2030. According to Clinicaltrials.gov to treat Parkinson's disease NLY01 is in Phase 2 clinical trials. The Phase 2 study is designed to access the safety, tolerability, and efficacy of NLY01 for early untreated Parkinson's disease (PD). Evidence suggests that NLY01, a pegylated form of exenatide can prove beneficial in Parkinson's disease and is being developed as a potential treatment for neurodegenerative disorders. The actual start date of the study was February 2020 and the estimated completion date was August 2022.
Parkinson’s Disease Market Report Key Highlights
Parkinson's is a type of movement disorder that affects the ability to perform common daily activities. It is a chronic and progressive disease. It is characterized by its most common motor-related symptoms like tremors (a form of rhythmic shaking), stiffness or rigidity of muscles, and slowness of movement (called bradykinesia). Also, non-motor symptoms include sleep problems, constipation, anxiety, depression, fatigue, and others. According to the American Parkinson's Disease Association, there are 1 million people in the US living with Parkinson’s disease and more than 10 million people globally. Approximately 10% of Parkinson’s diagnoses occur before the age of 50 years. These diagnoses are called early-onset (or young onset) Parkinson’s disease. Furthermore, strong market players present globally have a robust drug pipeline for the treatment of Parkinson's disease. Major product launches in the coming years will boost the global Parkinson's disease market share.
Global Parkinson’s Disease Market Dynamics
Parkinson’s Disease Market Report Coverage
|Market||Parkinson’s Disease Market|
|Parkinson’s Disease Market Size 2021||USD 2,540 Million|
|Parkinson’s Disease Market Forecast 2030||USD 6,705 Million|
|Parkinson’s Disease Market CAGR During 2022 - 2030||11.5%|
|Parkinson’s Disease Market Analysis Period||2018 - 2030|
|Parkinson’s Disease Market Base Year||2021|
|Parkinson’s Disease Market Forecast Data||2022 - 2030|
|Segments Covered||By Drug Class, By Distribution Channel, Patient Care Setting, And By Geography
|Parkinson’s Disease Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Teva, Novartis AG, GSK, AbbVie, Merck, Boehringer Ingelheim, Impax Laboratories, Lundbeck, UCB, Valeant Pharmaceuticals, Acadia, and others.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Parkinson’s Disease Market Insights
Government involvement by providing funding for research activities
Parkinson's UK is the largest member-led charitable funder of Parkinson's Europe. To date, it has invested more than US$ 121,65 Million in the research program. Parkinson's Virtual Biotech is involved in the drug discovery and development arm of Parkinson's UK which is one of the prominent organizations and a pioneer in charitable funding of Parkinson's research in Europe. The Virtual Biotech launched in March 2017 and by the end of 2019 committed to over US$ 9 Million to creating an exciting and diverse pipeline of projects at the drug discovery, preclinical, and early clinical development stages. Further, the company aims to invest at least a further US$ 24 Million and deliver a life-changing new treatment to people with Parkinson's by the end of 2024.
High prevalence of Parkinson's disease in aging population drives the market growth
According to the estimates released by the National Institute of Environmental Health Sciences (NIEHS), nearly 1 million people in the US are living with Parkinson’s disease. The average age of onset is about 60 years. The population prevalence increases from about 1% at age 60 to 4% by the age of 80. One clear risk factor for Parkinson's disease is age. Although most people with Parkinson's first develop the disease at the age of 60, however about 5-10% of people with Parkinson's have an early-onset disease that begins before the age of 50 as per the National Institute of Aging (NIA).
Parkinson’s Disease Market Segmentation
The worldwide Parkinson’s disease market is split based on drug class, distribution channel, patient care setting, and geography.
Parkinson’s Disease Market By Drug Class
According to our Parkinson’s disease industry analysis, the carbidopa/levodopa drug class is expected to account largest market share of the Parkinson’s disease market. Carbidopa/levodopa is the most effective medication for accelerating the motor symptoms of Parkinson's disease. But it is essential that co-therapeutics agents such as COMT (catechol-o-methyltransferase) inhibitors are used in combination with carbidopa/levodopa therapy. The two most commonly used COMT inhibitors in the treatment of Parkinson’s disease are Comtan (entacapone) and Tasmar (tolcapone). Both these medications are available in the form of solid dosage forms such as tablets and are routinely prescribed in conjunction with carbidopa/levodopa. Furthermore, due to the high prevalence of the aging population with Parkinson’s disease demand for these drugs will grow to its fullest.
Parkinson’s Disease Market By Distribution Channel
Based on the distribution channel, the hospital pharmacies segment will continue dominating the market for Parkinson’s disease. The rising patient pool with frequent visits to doctors or physicians, wide availability of diagnostic laboratories, and the presence of skilled neurologists drive the growth of this segment.
Parkinson’s Disease Market By Patient Care Setting
According to our Parkinson’s disease market forecast, the hospital segment dominated the overall market by recording the largest share of the market and will continue the same trend in the forecast period. Rigorous healthcare infrastructure ad the presence of skilled physicians drives the hospital segment market for Parkinson’s disease market. Clinics segment also known as outpatient clinics or ambulatory care clinics are healthcare facilities where outpatients are treated. In comparison, with hospitals, clinics hold the second largest market share of the overall Parkinson's disease market. The shortage of neurologists in hospitals will ultimately result in driving the clinic's segment in the forthcoming years.
Parkinson’s Disease Market Regional Outlook
The Middle East & Africa (MEA)
Parkinson’s Disease will affect Over 1.2 Million Americans by 2030
Based on region, North America dominates the Parkinson's disease market. According to the National Institute of Health (NIH), approx. 1.2 million people in the US are predicted to suffer from Parkinson's disease by 2030. It is the second most common neurodegenerative disorder in the US. Additionally, there are thousands of patients unaware of suffering from Parkinson's disease which continues to go undetected. As the aging population continues to grow the number of people suffering from Parkinson's disease (PD) may also continue to grow. The rising prevalence of patient pool suffering from PD, and the availability of reimbursement policies for treatment, bolster the regional growth of the Parkinson’s disease market regionally. However, Asia-Pacific regional market is expected to be the fastest growing region for Parkinson's disease. It is projected that the Asia Pacific market will record a significant CAGR in the forthcoming years with the growth in this market centered in China, Japan, and India. The rising number of generic drug manufacturers and the aging population in this region are the factors that fuel the growth of the Asia-Pacific Parkinson’s disease market.
Parkinson’s Disease Market Players
Some of the top Parkinson’s disease companies offered in the professional report include Teva, Novartis AG, GSK, AbbVie, Merck, Boehringer Ingelheim, Impax Laboratories, Lundbeck, UCB, Valeant Pharmaceuticals, and Acadia.
The market size of Parkinson’s Disease market in 2021 was accounted to be USD 2,540 Million.
The projected CAGR of Parkinson’s disease market during the analysis period of 2022 to 2030 is 11.5%.
The prominent players of the global Parkinson’s disease market are Teva, Novartis AG, GSK, AbbVie, Merck, Boehringer Ingelheim, Impax Laboratories, Lundbeck, UCB, Valeant Pharmaceuticals, and Acadia.
North America held the dominating Parkinson’s disease during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for Parkinson’s disease during the analysis period of 2022 to 2030.
Rapidly growing cases of Parkinson’s, rising sedentary lifestyle among world population, and increasing base of geriatric population drives the growth of global Parkinson’s disease market.
Based on drug class, carbidopa/levodopa segment is expected to hold the maximum share Parkinson’s disease market.