Parkinson’s Disease Therapeutics Market: Growing disability adjusted life years is driving the growth of the market

Transparency Market Research foresees a staggering rise in the global Parkinson’s disease therapeutics market in the period between 2016-2024. The TMR report titled “Parkinson’s Disease Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” expects the number of patients suffering from this disease to reach two million by 2030. The successful introduction of dopamine and levodopa in therapies to minimize the effects of Parkinson’s are enlisted as the likely factors that will contribute to the impending boom in the market.

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The global Parkinson’s disease therapeutic market is prophesied to reach new levels of growth during the forecast period. With the introduction of new devices like stereotactic systems and ultrasonic aspirators, the health care professionals are now favorably inclined towards offering superior quality treatment. Increased sophistication in neurology devices has led to the debut of implantable neurosimulation and home care devices. Furthermore, the aging population, the increase in the number of persons suffering from Parkinson’s, and the surge in the R&D activities carried out by pharmaceutical enterprises and research organizations are predicted to be the leading demand drivers of the market. However, the existence of substitute options may act as a hindrance in the rise of the market.

The surge in disability adjusted lifestyle proves to be the most superior factor in contributing to the rise of the global Parkinson’s Disease Therapeutic Market. The approach to the therapy and therapeutic practices depends upon the individual’s symptoms. The WHO reports that the people with disability-adjusted life year owing to Parkinson’s disease in 2015 was 1.7 million across the world. According to the European Parkinson’s Disease Association, cost of treatment was estimated to be at US$12.6 mn in Europe and which is predicted to multiply twice over by 2030.

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The key segments of the Parkinson’s disease therapeutics market would be bifurcated on the basis the therapeutic class, the distribution channel and the region. The report categorizes the therapeutic class into Dopamine precursors, COMT inhibitors, Dopamine agonists, MAO-B inhibitors, and Others (amantadine and anticholinergic). The distribution channel consists of hospital pharmacies, online pharmacies, retail pharmacies and drug stores. The report divides the worldwide market impact regionally into North America, Latin America, Europe, Asia Pacific, followed by the Middle East and Africa.

The report also elucidates on the key players among the Parkinson’s disease therapeutic market. It mentions some names like Acorda Therapeutics, Merck & Co., UCB, Biogen, Inc., , Pfizer Inc., F-Hoffmann-La Roche Ltd, AstraZeneca plc among others.

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This release was published on openPR.