Press release
Anti-Parkinson Drugs Global Market is Booming Across the Globe and Witness Huge Growth By Key Players To 2033 | Pfizer Inc., Merck Co., Novartis AG, Mylan NV, Wockhardt Ltd.
Anti-Parkinson Drugs Global Market
The anti-parkinson drugs market size is expected to see strong growth in the next few years. It will grow to $13.36 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to growing awareness, biotechnological advancements, emerging markets. Major trends in the forecast period include investment in r&d, personalized medicine, disease-modifying therapies, drug repurposing, telemedicine and remote monitoring, biosimilars, research collaborations.
Market Overview -
Anti-Parkinson drug is a term used to describe the medications that are mostly used to treat Parkinson's disease. They are not psychiatric medications, so they cannot legally be used to treat mental health issues. However, a doctor or psychiatrist may recommend one of these medications in addition to an antipsychotic to lessen some of the antipsychotic's negative effects.
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Increasing Geriatric Population In The Anti-Parkinson Drugs Market
The increasing geriatric population and surging cases of Parkinson's disease (PD) are projected to drive the demand for the anti-Parkinson drugs market. PD commonly occurs in people over the age of 60 cases of Parkinson's disease (PD) are projected to drive the demand for the anti-Parkinson drugs market. PD commonly occurs in people over the age of 60. For instance, in October 2022, according to the World Health Organization, a US-based health agency, Globally, 1 in 6 individuals will be 60 or older by 2030, and by 2050, there will be a double amount of individuals in this age group (2.1 billion). Additionally, for instance, in June 2021, according to the UK Parliament's House of Commons Library, a UK-based information resource, the elderly population in the UK will increase, accounting for 24% of the total population (17.4 million people) by 2043. Therefore, the increasing geriatric population is driving the growth of the anti-parkinson drugs market.
Competitive Landscape -
Major companies operating in the anti-parkinson drugs market include GlaxoSmithKline plc, Pfizer Inc., Merck Co., Novartis AG, F. Hoffmann-La Roche AG, UCB S.A, Teva Pharmaceutical Industries Ltd., AbbVie Inc., Mylan NV, C.H. Boehringer Sohn AG & Co. KG, Orion Pharma Ltd., ACADIA Pharmaceuticals Inc., Sun Pharmaceutical Industries Ltd., Wockhardt Ltd., Reddy's Laboratories Ltd., Intas Pharmaceuticals Ltd., US WorldMeds LLC, Zydus Lifesciences Limited, Chemical Industrial & Pharmaceutical Laboratories Ltd., Strides Shasun Ltd., Axcan Pharma Inc., Upsher-Smith Laboratories LLC, H. Lundbeck A/S, Vertical Pharmaceuticals LLC, Zambon SPA, M Somerset Pharmaceuticals Inc., Valeant Pharmaceuticals International Inc., Neurocrine Biosciences Inc., Supernus Pharmaceuticals Inc.
Innovative Advancements In The Anti-Parkinson Drugs Market
Major companies operating in the anti-Parkinson drugs market are focusing on innovating products, such as Safinamide, to provide reliable services to customers. Safinamide is used as an anti-Parkinson drug for the treatment of Parkinson disease and to improve the quality of life of patients. For instance, in April 2021, Optimus Pharma Private Limited, an India-based pharmaceutical company, launched Safinamide, which was approved by the Drug Controller General of India (DCGI), which is the head of the Central Drugs Standard Control Organization (CDSCO), an India-based national regulatory authority. Safinamide is an anti-Parkinson drug indicated as adjunctive therapy to levodopa or carbidopa in patients with Parkinson disease. This will assist in delivering robust treatment for Parkinson's disease with very high affordability and accessibility to patients.
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Key Segments -
The anti-parkinson drugs market covered in this report is segmented -
1) By Drugs Class: Levodopa/Carbidopa, Dopamine Receptor Agonists, Monoamine Oxidase Type B (MAO-B) Inhibitors, Catechol-O-Methyltransferase (COMT)-inhibitors, Anticholinergics, Other Drugs
2) By Route of Administration: Oral, Injection, Transdermal
3) By Distribution Channel: Hospital Pharmacies, Retailer Pharmacies, Online Pharmacies
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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