What is the global market size of Parkinson’s Disease Drug Market?

Global Parkinson's Disease Drug Market size was valued at USD 4.28 billion in 2021 and is poised to grow from USD 4.61 billion in 2022 to USD 11.98 billion by 2030, growing at a CAGR of 12.1% in the forecast period (2023-2030).

Parkinson's Disease Drug Market Size, Share, Growth Analysis, By Drug Type(Decarboxylase Inhibitors (Levodopa/Carbidopa), Dopamine Agonists, Monoamine Oxidase Type B (MAO-B) Inhibitor, Catechol-O-Methyltransferase (COMT) Inhibitors), By Route of Administration(Oral, Injection, Transdermal), By Distribution Channel(Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), By Region - Industry Forecast 2024-2031

Report ID: SQSG35I2024 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 91 | Figures: 76

Parkinson's Disease Drug Market News

In May 2021, PharmaTher's investigational new drug (IND) was approved by the U.S. Food and Drug Administration (FDA) for ketamine as a treatment for levodopa-induced dyskinesia in people with Parkinson's disease, clearing the path for PharmaTher to proceed with the phase II clinical trial to study low dose Ketamine.
In April 2021, Optimus Pharma announced that the company has received the approval for its drug Safinamide from DCGI. Safinamide is indicated as an adjunctive treatment to levodopa/carbidopa in patients with Parkinson's disease (PD). With this, the company is set to contribute to the delivery of effective Parkinson's disease therapy in India that is both accessible and inexpensive.

Parkinson's Disease Drug Market Report Snapshots

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Parkinson's Disease Drug Market size was valued at USD 4.28 billion in 2019 and is poised to grow from USD 4.61 billion in 2023 to USD 11.98 billion by 2031, growing at a CAGR of 12.1% in the forecast period (2024-2031).

The market for medications for Parkinson's disease is getting increasingly competitive. The market is becoming more active as a result of recent product launches and the large number of medicines in the product pipelines of multinational pharmaceutical companies. A number of new products are expected to be released, which could significantly alter the market shares of pharmaceutical companies that are currently engaged in the market, over the forecast period. 'AbbVie Inc.', 'Acorda Therapeutics Inc.', 'Adamas Pharmaceuticals Inc.', 'Biogen Inc.', 'Britannia Pharmaceuticals Ltd.', 'Denali Therapeutics Inc.', 'F. Hoffmann-La Roche Ltd.', 'GlaxoSmithKline plc', 'H. Lundbeck A/S', 'Impax Laboratories Inc.', 'Intec Pharma Ltd.', 'Ipsen S.A.', 'Kyowa Hakko Kirin Co. Ltd.', 'Merck & Co. Inc.', 'Neurocrine Biosciences Inc.', 'Novartis International AG', 'Pfizer Inc.', 'Teva Pharmaceutical Industries Ltd.', 'UCB S.A.', 'Zambon S.p.A.'

The increasing aging population and the rising number of Parkinson's cases: Rising aging populations and increased prevalence of neurological illnesses are two important factors driving the growth of this market. With the increase in the number of patients with Parkinson’s disease, the demand for the drugs required for the treatment of this disease, is also increasing rapidly. This is expected to support the growth of the parkinson’s disease drug market globally, over the forecast period.

Increasing research and development for treatment of Parkinson’s disease: A key trend in the market for Parkinson's treatments is the rise in government and corporate funding for research and development of Parkinson's disease medications. Companies involved in the drug development for this disease are working towards developing new and innovative drugs for the treatment of the disease. Therefore, the market for Parkinson’s disease drugs is expected to be supported by rising investments in the development of Parkinson's drugs.

Based on the region, the European region currently dominates the Parkinson's disease drug market with respect to market share. Due to the rising prevalence of Parkinson's disease and active government assistance through government-assisted pharmacies, Europe commands the worldwide Parkinson's disease market. However, North America is predicted to hold the largest market share for Parkinson's disease medications due to increased research & development spending and the anticipated approval and launch of new pipeline drug candidates, over the forecast period.

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