The global
Parkinson’s disease therapeutics market was valued at US$ 2.18 Bn
in 2016 and is projected to register a cumulative annual growth rate
(CAGR) of more than 10.9% from 2017 to 2025, according to a new
report titled “Parkinson’s Disease Threapeutics Market – Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast,
2017–2025” published by Transparency Market Research (TMR) (. The
report states that high prevalence of Parkinson’s disease, rise in
geriatric population across the globe, increase in funding for
clinical research and grants, etc. are expected to spur the growth of
the Parkinson’s disease therapeutic drugs during the forecast
period, i.e. 2017 to 2025. North America and Europe are projected to
dominate the global Parkinson’s disease therapeutics market in the
near future, primarily due to the large base of aging population,
high clinical R&D budget to address the unmet needs of
Parkinson’s disease, and increase in awareness regarding the
disease in these regions. Europe is estimated to dominate the global
Parkinson’s disease therapeutics market by the end of 2025, which
can be ascribed to the high prevalence and rise in incidence rate of
Parkinson’s disease in the developed countries in the region such
as Germany, France, the U.K., and Italy, promising product pipeline,
and various initiatives undertaken by the government and non-profit
organizations to promote awareness regarding the disease. The
Parkinson’s disease therapeutics market in Europe is expected to
witness the highest CAGR of more than 11.0% from 2017-2025.
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High prevalence
and rise in incidence rate of Parkinson’s disease to fuel the
global market
Parkinson’s
disease is a highly prevalent age-related neurodegenerative disorder,
affecting millions of people worldwide and causing severe impact on
their physical, psychological, as well as emotional health. The exact
cause of Parkinson’s disease is not known. It is largely prevalent
among the geriatric population. Classifying by gender, men are
one-and-half times more affected by the disease than women. According
to the Parkinson’s Foundation based in the U.S., it is estimated
that worldwide around 7 to 10 million people are affected by
Parkinson’s disease and around 1 million Americans are living with
it. However, the exact number of patients suffering from Parkinson’s
disease is known due to incompleteness and inconsistency in the
prevalent studies and underdiagnosed cases. According to the Global
Burden of Disease Study, it is estimated that around 13 million
people will be affected by Parkinson’s disease worldwide by the
year 2040. China has the world’s largest population affected with
Parkinson’s disease, which is an estimated 2.5 million people, and
the number is likely to become double by the end of 2030, accounting
for half of the world’s population suffering from the disease. The
rapidly growing geriatric population, coupled with high prevalence
and increasing incidence rate of Parkinson’s disease in the
developed countries, is projected to a key driving factor of the
Parkinson’s disease therapeutics market during the forecast
period.
Levodopa
combination drugs to be an attractive product segment
The report offers
detailed segmentation of the global Parkinson’s disease
therapeutics market based on drug class, route of administration, and
distribution channel. Among drug classes, the levodopa combination
drugs segment is poised to account for the leading share of the
global market during the forecast period from 2017 to 2025. Levodopa
combination therapy is considered a highly-effective treatment for
the motor symptoms associated with Parkinson’s disease and is
commonly recommended by physicians across the globe. Carbidopa and
levodopa combination therapy is commonly used for management of motor
fluctuations in Parkinson’s disease. The recent approval by the
United States FDA and launch of Duopa in 2015 by AbbVie Inc. had
significantly promoted levodopa combination drugs in 2016. Also, the
anticipated launch of pipeline study of CVT-301 by Acorda
Therapeutics, Inc. and ND0612 from Mitsubishi Tanabe by the end of
2019 is estimated to propel the segment’s growth during the
forecast period
Oral route of
administration, followed by intestinal infusion segment, dominates
the market
In terms of route of
administration, the oral route is projected to dominate the global
Parkinson’s disease therapeutics market during the forecast period
and is estimated to expand at a CAGR of more than 7.5% from
2017-2025. More than 70% of the drugs available for treatment of
Parkinson’s disease are in the tablet and capsule form. Some of the
drugs are orally disintegrated. However, the estimated launch of
sublingual film by SUNOVION and inhaled formulation by Acorda
Therapeutics, Inc. during the forecast period is likely to gain
market exceeding 15% by the end of 2025. Also, rise in adoption and
demand for subcutaneous injections and promising pipeline products
with subcutaneous route of administration for home management of
Parkinson’s disease are estimated to limit the growth of the oral
route of administration segment by the end of 2025.
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Retail pharmacy,
followed by hospital pharmacy segment, dominates the market
Among distribution
channels, the retail pharmacy segment is projected to hold the
dominant share of the global Parkinson’s disease therapeutics
market during the forecast period and is likely to expand at CAGR of
more than 11% from 2017 to 2025. Easy availability of Parkinson’s
therapeutic drugs at retail pharmacies, low price of the drugs, and
expansion of leading retail pharmaceutical chains across the globe
are driving the growth of the segment. The hospital pharmacy segment
is the second leading shareholder of the global Parkinson’s disease
therapeutics market. However, the segment is likely to lose its
market share by the end of 2025. Intestinal infusion drugs and
subcutaneously administered drugs, and certain patented drugs, to an
extent, have contributed to the key market share of the hospital
pharmacy segment in 2016. The online pharmacy segment is poised to
grow at as significant CAGR of more than 12% during the forecast
period.
Huge incremental
opportunity in Europe
In terms of value,
Europe dominated the global Parkinson’s disease therapeutics market
in 2016. The region is estimated to gain market share by the end of
2025. The dominance of Europe can be primarily attributed to the high
prevalence of Parkinson’s disease in the region, availability of
and high adoption of levodopa combination drugs, and high clinical
R&D budget to address the unmet needs in Parkinson’s disease.
According to the European Parkinson’s Disease Association, around
1.2 million people in European Union are affected with Parkinson’s
disease. In Germany, around 260,000 people; in Italy, 150,000 people;
and in the U.K., around 120,000 people are affected by the disease.
The highest incidence rate of Parkinson’s disease is observed in
France with around 36-49 cases per 100,000 people. The Parkinson’s
disease therapeutics market in Europe is estimated to grow at the
highest CAGR of more than 11% during the forecast period. North
America is the second leading market for Parkinson’s disease
therapeutics. Rapid growth in the aging population of the U.S., rise
in awareness regarding Parkinson’s disease, and new product
approvals and launches in the region have contributed to the dominant
share of the region. Moreover, high clinical R&D budget by the
governments, private players, and non-profit organizations are
estimated to fuel the expansion of the Parkinson’s disease
therapeutics market in North America during the forecast period. The
Parkinson’s disease therapeutics market in Asia Pacific is poised
to grow at a moderate rate during the forecast period.
Key trend of new
product development and launch in the international market is
observed among leading players
The report also
provides profiles of the leading players operating in the global
Parkinson’s disease therapeutics market. AbbVie Inc., Novartis AG,
F. Hoffmann-La Roche AG, Teva Pharmaceutical Industries Ltd., and UCB
Inc. are some of the prominent players in the market having
proprietary products and technologies. Most of them are focused on
new product development, approvals, and commercialization of novel
drugs to gain the first-mover’s advantage and address the unmet
needs in the Parkinson’s disease therapeutics market. For instance,
In January 2015, AbbVie’s flagship product, DUOPA (Combination Drug
of carbidopa and levodopa), received the approval of the United
States FDA for the treatment of advanced Parkinson’s disease. Duopa
is administered through a unique technology directly into the
intestine of the patient through the stoma. It is the first and only
kind of product administered through intestinal infusion. In 2016,
the ACADIA Pharmaceuticals Inc. launched its antipsychotic drug,
Nuplazid, in the U.S. Nuplazid is the first and only drug approved by
the United States FDA for the management of hallucination and
delusion associated with Parkinson’s disease. Other prominent
players operating in the global Parkinson’s disease therapeutics
market include STADA Arzneimittel AG, GlaxoSmithKline plc, Valeant
Pharmaceuticals International, Inc., Merck & Co., Inc., and Impax
Laboratories Inc.
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