The Global Parkinson’s Disease Drugs Market is Expected to Witness a CAGR of 7.2% to Reach Revenue of $5,614.6 Million by 2024
Bangalore, India, August 08, 2018: With its recently published study “Parkinson’s Disease Drugs Market – Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024”, Infoholic Research forecasts that the global market for Parkinson’s disease drugs will grow due to increasing aging population and growing prevalence of Parkinson’s disease. Supportive initiatives from the government & other organizations, exhaustive pipeline, and rising clinical trials will provide tremendous opportunities for the market growth in the coming years. With improved information on the effect of pesticides on health and additional ecological mediators in triggering PD, active prevention will likely be removing or dropping the use of specific eco-friendly agents. Technological advancements such as biomarkers, 3D printed drugs, mobile applications, and wearable technologies in monitoring and treatment of PD are fostering the market growth.
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However, the expiry of patents of blockbuster drugs, availability of generic drugs, and complex drug development processes are hampering the market growth. Duodopa/Duopa, Azilect, Mirapex/Mirapex ER, Requip, Neupro, Rytary/Numient, Xadago, and Nuplazid are the major drugs available in the market (Azilect has lost its patent in 2017).
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America accounts for the largest share of the Parkinson’s disease drugs market, followed by Europe, Asia Pacific, and Rest of the World. More than 40% of the market is occupied by Europe, with Germany being the major contributor to the market growth.
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“New product launch and collaboration are the primary strategies being followed by the market players to maintain their leadership and strengthen the market position. In January 2015, Neuropore Therapies Inc. and UCB S.A. signed a commercialization agreement for NPT200-11. Recently, Impax Pharmaceuticals’ RYTARY and AbbVie’s DUOPA received the US FDA approval for the treatment of Parkinson’s disease. Other strategies include business partnerships, mergers & acquisitions, and a multifaceted pipeline. Recently, in January 2018, Adamas Pharmaceuticals Inc. launched Gocovri for the treatment of dyskinesia in individuals with PD, who are taking levodopa.” – Rikitha K Murthy, Research Analyst, Infoholic Research.
Key insights of the report include:
- Major Drug Class
- MAO-B Inhibitors
- COMT Inhibitors
- Dopamine Agonists
- Regional Analysis
- North America
- Asia Pacific
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities