(PharmaNewsWire.Com, July 14, 2021 ) The Parkinson’s disease treatment market was valued at USD 3.99 billion in 2016 and expected to grow at a CAGR of 6.1% from 2017 to 2022 to reach USD 5.69 billion in 2022. The carbidopa/levodopa drug class is projected to register highest CAGR during forecast period. The major driving factors for this market include ageing population and government funding for research, growing healthcare awareness. The base year considered for the study is 2016, and the forecast has been provided for the period between 2018 and 2023.
The Parkinson’s disease treatment market is segmented on the basis of drug class, distribution channel, patient care setting, and region. On the basis of drug class, the market is segmented into carbidopa/levodopa, dopamine receptor agonists, MAO-inhibitors, COMT-inhibitors, anticholinergics and other drugs. The carbidopa/levodopa segment is expected to account for the largest share of the market in 2017. The growth in this segment is primarily attributed to the potency of the drug.
By distribution channel, the market is segmented into hospital pharmacies, retailer pharmacies, and online pharmacies. In 2017, the hospital pharmacies segment accounted for the largest share of the market. Increasing number of patient visits to the hospital due to the availability of diagnostic laboratories and presence of skilled neurologists are driving the growth of hospital pharmacies segment.
On the basis of patient care setting, the Parkinson’s disease treatment market is segmented into hospitals and clinics. In 2017, hospitals are expected to account for the largest share of the market. Robust health infrastructure and presence of skilled neurologists are the driving factors for hospital segment.
By region, the Parkinson’s disease treatment market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The market is dominated by Europe, followed by North America, however, the Asian region is expected to witness the highest growth during the forecast period. Asia is expected to witness the highest CAGR, with the growth in this market centered at Japan, China, and India. The increasing number of generic drug manufacturers and rising aging populaion across are key factors driving the market in Asia. However, availability of alternative treatments is going to restrain this market.
Teva (Israel), AbbVie (US), Boehringer Ingelheim (Germany) Lundbeck (Denmark), Acadia (US), Sun Pharma (India), US WorldMeds (US), Dr. Reddy’s (India), are the top players in this market. These companies have a broad product portfolio with comprehensive features and a strong geographical presence.
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