Global Parkinson’s Treatment Market Outlook
Parkinson’s Treatment Market: Parkinson’s disease is the chronic, progressive neurodegenerative disorder that is characterized by rigidity, tremors, postural instability and bradykinesia (slowness of movement) and patients will also experience the significant non-motor symptoms like changes in the sleep disturbances, autonomic dysfunction and cognition and mood. The condition is caused due to the degeneration of the dopamine-producing cells of the substantia nigra. Parkinson’s disease is non-fatal but it cannot be cured, that results in the poor quality of life and increases disability along with the disease progression. As per the World Health Organization, the total number of people with disability-adjusted life year because of Parkinson’s disease was 1.7 Mn globally in 2015.
Recent advancements in the treatment of Parkinson’s disease like the combination or multiple therapies in order to prolong the actions of the continuous stimulation of dopaminergic drugs, neurostimulation devices approvals, neuroprotective therapies which slows the prognosis of Parkinson’s disease are anticipated to drive Parkinson’s disease treatment market globally. Furthermore, increase in ageing of the population, a rise in the Parkinsonism prevalence around the globe, treatment affordability are the factors bolstering the demand for some of the Parkinson’s disease treatment market. Factors such as loss of patent protection for some of the drugs, rise in competition from generic drugs of Parkinsonism, huge unmet needs in the market, delaying development and launch of new products in the market are the few restraints for the Parkinson’s disease treatment market growth. High competition in the market from other improved Parkinson’s disease management methods also hinders the growth of the Parkinson’s Drugs Market.
The global Parkinson’s Treatment Market has been classified on the basis of treatment, end user, and geography.
Based on drug class, global Parkinson’s Treatment Market is segmented into the following:
- Monoamine Oxidase Inhibitors (MAO)
- Dopamine Precursors
- Catechol-o-methyltransferase Inhibitors (COMT)
- Peripheral Decarboxylase Inhibitors
- Others (Anticholinergics, Antihistaminics)
Based on distribution channel, global Parkinson’s Treatment Market segmented as:
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
Parkinson’s disease is predominantly treated by mature and long-standing therapies like dopamine agonists and levodopa, hence, generic medicines are dominating the market. Adipose-derived stem cell therapy, repetitive transcranial magnetic stimulation device, and minimally invasive neurostimulation devices, among others, are the new advancements in the Parkinson’s treatment. Healthcare professionals are adapting to the advancements in technologies that will offer better treatment quality when compared to conventional treatment and devices like stereotactic systems and ultrasonic aspirators. Drug manufacturers are introducing novel options for the treatment with the clear defined position in a market, specifically as the option in a reduction of motor fluctuations alongside levodopa therapy. Acquisitions, new product launches and Collaboration agreements are few strategies which were adopted by key players. For instance, in 2015 January, Neuropore Therapies Inc. entered into a commercialization agreement with UCB S.A, for commercialization of NPT200-11, a small molecule drug used to treat the Parkinson’s disease.
Geographically, the global Parkinson’s Treatment Market is segmented into five regions namely, Latin America, North America, Asia-Pacific, Europe, and the Middle East and Africa. North America dominates the global market for Parkinson’s disease treatment owing to the good reimbursement policies and high prevalence of the disease. As per the Parkinson’s disease Foundation, approximately every year 60,000 Americans were diagnosed with Parkinson’s disease. Europe is anticipated to hold the 2nd highest market share in the global market due to the increase in R&D investments by major players, growing disability-adjusted life years is driving the growth of the European Parkinson’s Treatment Market. As per the European Parkinson’s Disease Association, the disease treatment cost in Europe was estimated at US$ 12.6 Mn in 2015 and is expected to double by 2030. Rising prevalence of the disease and increasing demand for new drug therapies are the key drivers of the market. About 6.3 million people suffer from Parkinson’s disease according to the European Brain Council.
Some of the players in global Parkinson’s Treatment Market include Salix Pharmaceuticals (U.S.), GlaxoSmithKline Plc. (U.K.), Wockhardt Limited (India), Impax Laboratories, Inc. (U.S), Novartis AG (Switzerland), Mylan N.V (U.S), Teva Pharmaceutical Industries Ltd.(Israel), Cipla Inc.(India), Par Pharmaceutical (U.S), and Apotex Inc (Canada)
- In 2015, U.S.FDA approved RYTARY an extended-release oral capsule of carbidopa and levodopa belongs to the Impax Laboratories, Inc., to treat Parkinson’s disease and its complications
- In 2012, Neupro (Rotigotine Transdermal System) of UCB has received USFDA approval which is for the treatment of advanced stage of idiopathic Parkinson’s disease
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