Parkinson's Disease Drug Market Projected to Drive Global Economic Impact, Surpassing $10.4 Billion

Allied Market Research recently said Parkinson's disease is a neurological disorder that affects movement, with symptoms including tremors, stiffness, and difficulty with balance and coordination. While there is currently no cure for Parkinson's disease, there are several drugs that can help manage symptoms and improve quality of life for patients. One of the most commonly prescribed drugs for Parkinson's disease is levodopa, which works by increasing levels of dopamine in the brain. Dopamine is a neurotransmitter that is involved in movement control, and Parkinson's disease is caused by a loss of dopamine-producing cells in the brain. Levodopa is converted into dopamine in the brain, which helps to alleviate symptoms of Parkinson's disease.

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COVID-19 Impact Analysis (Pre & Post) -

• The disrupted supply chain, restricted sales operations, marketing efforts, and customer field support, hampered the shipping and delivery of products to customers, which impacted the global Parkinson's disease drugs market negatively.
• However, since 2021, the market has again started to witness a stable growth.

Other drugs used to treat Parkinson's disease include dopamine agonists, which stimulate dopamine receptors in the brain, and MAO-B inhibitors, which help to preserve dopamine levels in the brain. Anticholinergics can also be used to help control tremors, and amantadine may be prescribed to help with dyskinesias (involuntary movements) that can occur with long-term levodopa use.

By end user, the above 50 years segment garnered around 90% of the global Parkinson's disease drugs market share in 2021, and is expected to retain its dominance by 2031. The same segment is also expected to exhibit the fastest CAGR of 6.3% from 2022 to 2031. This is due to the fact that people above 50 years are prone to the Parkinson's disease. The report analyzes these key players in the global Parkinson's disease drugs market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.

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Important Key Market Players Are -

• Amneal Pharmaceuticals Inc Cantata Bio
• Biogen Inc.
• Eli Lilly company
• Glaxosmithkline Plc
• Gentech Healthcare
• Teva Pharmaceuticals
• Intas Pharmaceuticals Limited
• Orion Corporation
• Novartis AG
• Pfizer Inc.
• Square group
• AbbVie Inc.
• Sun Pharmaceutical Industries Limited
• Torrent Group
• UCB pharma
• Viatris Inc.
• C.H. Boehringer Sohn Ko.KG

However, due to a rise in the population of elderly people, Asia-Pacific is predicted to have the highest CAGR of 8.8% during the forecast period. The region's growth is also fueled by a higher emphasis on research and development activities by both public and private organizations for the development of novel treatments for Parkinson's disease.

Key Findings of The Study -

• Based on drug class, the decarboxylase inhibitors held largest market share in the global market in 2021. However, COMT inhibitors are anticipated to grow at the highest CAGR of 9.0% during Parkinson's disease drugs market analysis.
• Based on route of administration, the oral segment held largest market share in 2021 and is expected to remain dominant throughout the forecast period.
• By age group, the above 50 years segment dominated the global market in 2022 and is anticipated to continue this trend during the forecast period.

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Geographic Segments Covered in the Report -

The Parkinson's disease Drug Market report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (USA and Canada)

• Europe (UK, Germany, France and the rest of Europe)

• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)

• Latin America (Brazil, Mexico, and the rest of Latin America)

• Middle East and Africa (GCC and rest of the Middle East and Africa)

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