The global Parkinson's disease treatment market size is expected to reach USD 7.74 billion by 2030, according to a new study by Polaris Market Research. The report “Parkinson's Disease Treatment Market Share, Size, Trends, Industry Analysis Report, By Drug Class (Levodopa/carbidopa, Dopamine Receptor Agonists, MAO-Inhibitors, COMT-inhibitors, Anticholinergics, and Other Drugs); By Distribution Channel; By Route of Administration; By Patient Care Setting; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Parkinson's disease is becoming more common, which has prompted the creation of potent treatments for the condition. Regulating bodies, such as the U.S. Food and Drug Administration, is in charge of managing these. For instance, Levodopa/carbidopa patients encounter "off" episodes when taking the medication. To combat the side effects of levodopa/carbidopa in adult Parkinson's disease patients, the FDA-approved drugs. In August 2019, as a supplement to levodopa/carbidopa in adult Parkinson's disease (PD) patients who are having "off" episodes, the U.S. Food and Drug Administration approved Nourianz (istradefylline) tablets. PD symptoms, such as trembling and difficulty walking, might worsen during an "off" episode when a patient's treatments are not working as intended. The European Medicines Agency oversees the European licensing process for medications used to treat Parkinson's disease.
Growing investment in R&D will result in the creation of innovative treatments, which will further aid in industry expansion. According to Parkinson's Foundation, it has invested around USD around 4.5 million in innovative projects. Also, as per the National Institute of Health, of the $242 million in NIH funding for PD research in the financial year 2020, over $130 million was provided by the NINDS. In addition, in 2021, around $249 million was invested in innovative research to treat Parkinson's disease.
Furtherly, the growth in the aging population and the associated increase in the prevalence of Parkinson’s disease are primary reasons driving the global market revenue. In addition, a robust new drug development pipeline is a significant trend that strengthens the industry's growth.
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Moreover, in November 2021, the Aligning Science Across Parkinson's (ASAP) Collaborative Research Network awarded Emory Academic researchers a three-year, $6.3 million grant to study the behavioral cortical abnormalities brought on by Parkinson's disease (PD). The need for this disease treatment will increase public awareness of successful treatments.
Parkinson's Disease Treatment Market Report Highlights
Polaris Market Research has segmented the Parkinson's Disease Treatment market report based on drug class, distribution channel, route of administration, patient care setting, and region:
Parkinson's Disease Treatment, Drug Class Outlook (Revenue - USD Billion, 2018 - 2030)
Parkinson's Disease Treatment, Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)
Parkinson's Disease Treatment, Route of Administration Setting Outlook (Revenue - USD Billion, 2018 - 2030)
Parkinson's Disease Treatment, Patient Care Setting Outlook (Revenue - USD Billion, 2018 - 2030)
Parkinson's Disease Treatment, Regional Outlook (Revenue - USD Billion, 2018 - 2030)