Growing Spending In R&D Activities Expected To Fuel Global Parkinson’s Disease Drug Market Growth

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A progressive, degenerative neurological motor disorder, Parkinson’s disease mainly impacts the brain’s dopaminergic cells. The signs of this disorder comprise tremor, rigidity, postural instability, and bradykinesia. In the recent years, growth has been observed within the global Parkinson’s disease drug market due to a huge patient pool along with the elevated rate of diagnosis.

Parkinson's Disease Drug

In addition, the rising incidence of Parkinson’s disease and the growing spending in R&D activities are projected to drive the growth of the global Parkinson’s disease drug market during the forecast period. Further, combination treatments that help in elongated action of constant dopaminergic stimulation drugs, neural transplantation, and gene therapy are expected to drive the market expansion. Also, the mounting applications for usage approvals are adding to the expansion of the global market. The latest product introductions and the high count of therapeutics products in pipelines will also boost the market growth in near future. To cite, on October 21, 2020, plans were declared by Prothena Corporation plc PRTA and associate Roche RHHBY to progress prasinezumab, their pipeline candidate, into a phase IIb trial in individuals with early Parkinson’s disease. The verdict to further the test drug into the phase II trial was anchored on affirmative results of efficacy in line with disease modification within the PASADENA study.

The global Parkinson’s disease drug market can be categorized based on distribution channel, drug class, patient care setting, and geography. the market, based on drug class, is divided into anticholinergics, dopamine receptor agonists, carbidopa/levodopa, COMT-inhibitors, MAO-inhibitors, and other drugs. The market, based on patient care setting, is classified into clinics and hospitals. The market, based on distribution channel, is diversified into retailer pharmacies, hospital pharmacies, and online pharmacies.

Regionally, the highest share in the global Parkinson’s disease drug market is held by North America and is projected to maintain its dominance during the forecast period on account of the rising incidence of the disorder along with the well-built healthcare infrastructure in this region. Asia Pacific is also expected to observe a substantial expansion rate during the forecast period owing to the existence of untapped prospects in this region. In addition, the rise in R&D activities along with the supportive government policies is also projected to fuel the regional market growth.

The players competing actively within the global Parkinson’s disease drug market consist of Medtronic plc, Pfizer, Inc., Sanofi S.A., Novartis AG, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., Impax Laboratories, Inc., C.H. Boehringer Sohn AG & Ko. KG, F. Hoffmann-La Roche AG, and Abbvie Inc., among others.

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