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

Global 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).

Parkinson's disease is a neurological condition that primarily affects the areas of the brain that regulate movement, making it challenging to carry out daily tasks. Currently, more than 10 million people in the world are suffering from Parkinson's disease. It is caused by a decline in dopamine production and frequently causes tremors, stiffness, trouble walking, and other symptoms. The increasing prevalence of the disease and the long time period required to control its symptoms are expected to fuel the growth of the Parkinson’s disease drug market over the forecast period. The rise in demand for combination therapies that support neural transplantation, the prolonged action of drugs that continuously stimulate dopaminergic neurons, gene therapy, and government funding initiatives all contribute to the market expansion for Parkinson's disease.

Additionally, the market for Parkinson's disease is positively impacted by the rising population, a better healthcare system, research and development efforts, and higher healthcare costs. Moreover, the Parkinson's disease market players are expected to benefit from lucrative prospects throughout the projected period due to the patent expiration of branded pharmaceuticals and a robust drug pipeline.

US Parkinson's Disease Drug Market is poised to grow at a sustainable CAGR for the next forecast year.