Azilect Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast - 2022 to 2028

The global azilect market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Azilect is an inhibitor of monoamine oxidase - B used to treat early symptoms in Parkinson's disease. The rise in the prevalence of Parkinson's disease (PD) is anticipated to drive the growth of the global azilect market. According to Parkinson's' foundation statistics, approximately more than 10 million people are living with PD globally. Approximately 1 million people in the US are living with Parkinson's disease and 60,000 Americans are diagnosed with PD annually. Moreover, the incidence of PD increases with the age, where an estimated 4.0% of people with PD are diagnosed before age of 50. The Parkinson's Foundation Project estimated that 930,000 people suffered from Parkinson's disease in 2020, and is estimated to rise to 1.2 million by 2030. Additionally, according to the Global Burden of Disease Study, 6.2 million patients live with PD and the frequency is anticipated to double by 2040.

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Looking toward the demand for azilect for treatment of early symptoms of PD, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in July 2021, Pharmac, a pharmaceutical management agency, in agreement with Teva Pharmaceutical Industries Ltd. had announced the decision to fund rasagiline (Azilect) a new treatment for people with PD from August 2021. As per Pharmac, from August 2021, the drug will be prescribed and supplied under Section 29 of the Medicines Act. Moreover, Teva has committed to working toward Medsafe approval for its Azilect brand of rasagiline. Pharmac stated that Azilect is the alternative treatment option for people currently taking selegiline. Further, in 2021, Pharma Two B had announced the results from its pivotal phase 3 clinical study of P2B001 in early PD. P2B001 is an investigational drug that compromised low doses of two drugs pramipexole and rasagiline (Azilect). The results demonstrated comparable efficacy with less daytime sleepiness in individuals and as a potential treatment for people with early Parkinson's disease.

Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Pfizer Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Ltd., and Mylan (Vitaris Inc.) among others

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Azilect Market Report by Segment

By Type

5mg/Pcs
1mg/Pcs

By Application

Under 40 Years of Age
40-65 Years of Age
Above 65 years

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This release was published on openPR.