According to Data Bridge Market Research new Market report, global Parkinson’s disease treatment market accounted to USD 4.57 billion in 2018 growing at a CAGR of 6.50 % during the forecast period of 2019 to 2026.
Global Parkinson’s disease treatment market
Parkinson’s disease is a neurodegenerative disorder that attacks the motor systems, and the symptoms associated with the disease develop over time. Due to the disease’s main characteristics of attacking the motor functions, patients suffer from tremors in their body, difficulty in movement/motor functions. Also, behavioral problems and occurrence of dementia is also common in the advanced stages of the disease.
The cause of the disease is as of yet still unknown, but some incidences indicate that it is a genetically transferable disease.
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Global Parkinson’s disease treatment market is segmented on the basis of drug class, medical devices, route of administration, distribution channel, patient care setting and geography.
By Drug Class (Levodopa/Carbidopa, Dopamine Receptor Agonists, MAO-Inhibitors, COMT-Inhibitors, Anticholinergics, Other Drugs), Medical Devices (DBS, Levodopa/Carbidopa Enteral Suspension), Route of Administration (Oral, Transdermal, Subcutaneous, Intestinal Infusion, Others), Distribution Channel (Hospital Pharmacies, Clinics, Retail Pharmacies, Online Pharmacies), Patient Care Setting (Hospitals, Clinics), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN PARKINSON’S DISEASE TREATMENT MARKET:
Rising Geriatric Population:
According to United Nations Department of Economic and Social Affairs/Population Division; in 2017, estimated population of people with age 60 or above was 962 million, which means around 13 per cent of the population. This age bracket or group is growing at a rate of 3 per cent every year. Presently, Europe is leading the other regions in terms of population consisting of this age group. This brisk speed of ageing is expected to carry on in other regions as well, which projects that by the end of 2050 excluding Africa all regions of the world would have more than a quarter share of their total population at an age of 60 years and above. The population of this age group is projected to reach around 1.40 billion in 2030 and 2.10 billion in 2050, and could ultimately rise up to 3.10 billion in 2100. Due to this rising levels of population and the increase in prevalence of Parkinson’s disease of 41 in every 100,000 people in ages 40 and above, and that number rising to around 1,900 in every 100,000 in ages 80 and above.
An estimated seven to ten million people worldwide are suffering from Parkinson’s disease.
Few of the major competitors currently working in parkinson’s disease treatment market are GlaxoSmithKline plc., Merck & Co. Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim International GmbH., Impax Laboratories LLC, AbbVie Inc., Bausch Health., Lundbeck, Sun Pharmaceutical Industries Ltd., WOCKHARDT., ACADIA Pharmaceuticals Inc., UCB S.A., Dr. Reddy’s Laboratories Ltd., F. Hoffmann-La Roche Ltd, STADA Arzneimittel AG, Orion Corporation., Mylan N.V., Par Pharmaceutical., Cipla Inc., DAIICHI SANKYO COMPANY LIMITED., and Apotex Inc.
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