Parkinson's Disease Therapeutic Market Expected to Reach USD 6.51 Billion by 2031 Fueled by Advances in Drug Categories and Distribution Channels

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Parkinson's Disease Therapeutic Market - (By Drugs (Carbidopa-levodopa, Dopamine agonists, Mao-b inhibitors, COMT inhibitors, Anticholinergics, Others), By Distribution Channel (Hospital pharmacy, Retail pharmacy, Online pharmacy), By Brand (Branded, Generics), By Route of Administration (Oral, Injectable, Intestinal Infusion, Subcutaneous, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Parkinson's Disease Therapeutic Market is valued at US$ 4.22 Bn in 2023, and it is expected to reach US$ 6.51 Bn by 2031, with a CAGR of 5.7% during the forecast period of 2024-2031.

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Parkinson's disease (PD) is a progressive neurological disorder characterized predominantly by motor dysfunction, with current treatment approaches primarily aimed at symptom management and enhancing patient quality of life.

The market expansion is being driven by increased awareness and improvements in early diagnosis of Parkinson's disease. Advancements in diagnostic methodologies, including state-of-the-art imaging technologies and biomarker identification, facilitate earlier clinical intervention, thereby improving therapeutic efficacy and patient outcomes. Furthermore, heightened investment in research and development from pharmaceutical companies and governmental agencies is fostering innovation within the sector. Strategic collaborations between biotechnology firms and academic research institutions are accelerating the development of novel therapeutics. Additionally, the adoption of digital health solutions-such as wearable monitoring devices and telemedicine platforms-is optimizing disease management and patient compliance with treatment regimens, thereby contributing to sustained market growth.

List of Prominent Players in the Parkinson's Disease Therapeutic Market:
• Teva Pharmaceutical Industries Ltd.,
• Novartis AG
• GlaxoSmithKline Plc.
• AbbVie Inc.
• Merck & Co. Inc.,
• Zydus Cadila
• Dr. Reddy's
• Sun Pharmaceutical Industries Ltd.
• Cipla Inc.
• Boehringer Ingelheim International GmbH
• Denali Therapeutics Inc.
• Biogen Inc.
• Prevail Therapeutics
• Eli Lilly and Company
• Voyager Therapeutics.
• Intas Pharmaceuticals Ltd.
• Torrent Pharmaceuticals Ltd.
• Amneal Pharmaceuticals
• Aurobindo Pharma Limited
• Accord Healthcare Ltd.

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Market Dynamics:
Drivers:
The primary growth driver for the Parkinson's disease therapeutic market is the increasing global prevalence of the condition. Enhanced awareness and advancements in diagnostic technologies are facilitating earlier detection of PD, thereby elevating the demand for effective therapeutic interventions. The market expansion is further supported by the diversification of treatment options that cater to varying stages and severities of the disease, contributing to improved patient outcomes. Additionally, the integration of artificial intelligence (AI) and machine learning in drug discovery and development processes is playing a pivotal role. These technologies enable the analysis of extensive datasets to identify promising drug candidates, forecast clinical trial results, and streamline regulatory approval pathways. Such innovations accelerate the introduction of new therapies while reducing development costs, thereby driving market growth.

Challenges:
A significant challenge confronting the Parkinson's disease therapeutic market is the observed decline in regulatory drug approvals. This trend restricts the availability of novel and innovative treatment options, potentially limiting therapeutic choices for patients and healthcare providers. The reduced pipeline of approved drugs may impede progress in treatment advancements, adversely affecting patient care and outcomes. Furthermore, limited drug approvals can suppress market competition, possibly resulting in elevated costs for existing therapies. Collectively, these factors represent a substantial barrier to meeting the evolving clinical needs of Parkinson's disease patients.

Regional Trends:
North America maintains a leading position in the Parkinson's disease therapeutic market, largely attributed to the high disease prevalence within its aging population, particularly in the United States. Europe also commands a significant market share, supported by its well-established healthcare infrastructure and the increasing adoption of innovative treatment modalities by prominent industry participants. Moreover, the presence of key market players and the intensification of strategic collaborations among major companies further bolster growth opportunities, reinforcing the global expansion of the Parkinson's disease therapeutic market.

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Recent Developments:
• In March 2024, Sanofi and Cipla have formed an exclusive collaboration to distribute and promote Sanofi India's Central Nervous System (CNS) product range in India. Under this collaboration, Cipla will assume the responsibility of distributing Sanofi India's six CNS brands, which includes Frisium®, a prominent brand in the anti-epileptic drug field.
• In Oct 2022, Biogen and Denali Therapeutics commenced the Phase 3 LIGHTHOUSE Study in Parkinson's Disease linked to LRRK2 Pathogenic Mutations. The main objective of the LIGHTHOUSE trial was to measure the duration until proven deterioration, evaluated using the Movement Disorder Society-Sponsored Revision of the Unified Parkinson's Disease Rating Scale (MDS-UPDRS), during the treatment term of up to 180 weeks.

Segmentation of Parkinson's Disease Therapeutic Market-
By Drugs
• Carbidopa-levodopa
• Dopamine agonists
• Mao-b inhibitors
• COMT inhibitors
• Anticholinergics
• Others
By Distribution Channel-
• Hospital pharmacy
• Retail pharmacy
• Online pharmacy
By Brand
• Branded
• Generics
By Route of Administration
• Oral,
• Injectable,
• Intestinal Infusion,
• Subcutaneous
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/parkinsons-disease-therapeutic-market/2587

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.