Major players in the Anti-Parkinson drugs market are GlaxoSmithKline plc, Pfizer, Merck, Novartis, Roche, UCB S. A, Teva Pharmaceuticals, AbbVie Inc. and Mylan. The global anti-parkinson drugs market is expected to grow from $5.
New York, June 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Anti-Parkinson Drugs Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06090624/?utm_source=GNW
3 billion in 2020 to $5.55 billion in 2021 at a compound annual growth rate (CAGR) of 4.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $7.78 billion in 2025 at a CAGR of 9%.
The Anti-Parkinson drugs market consists of sales of drugs used for treating Parkinson’s disease (PD), generated by the establishments that manufacture these drugs.Parkinson’s disease is a neurodegenerative disorder that affects predominately dopaminergic neurons in a specific area of the brain named substantia nigra and disturbs the movement of the body.
People suffering from PD may experience tremor, bradykinesia, limb rigidity, gait, and balance problems.
The anti-Parkinson drugs market covered in this report is segmented by drugs class into levodopa/carbidopa; dopamine receptor agonists; monoamine oxidase type b (MAO-b) inhibitors; catechol-o-methyltransferase (COMT)-inhibitors; anticholinergics; other drugs. It is also segmented by route of administration into oral; injection; transdermal and by distribution channel into hospital pharmacies; retailer pharmacies; online pharmacies.
Increasing investments by governments and companies for Parkinson’s disease drug R&D is a major trend in the anti-Parkinson drugs market.For instance, according to the report published in 2018 by the Parkinson’s Foundation, the foundation awarded $6 million to Parkinson’s disease (PD) research.
In January 2019, Parkinson’s UK Research and Support charity in the United Kingdom announced a research investment of $1.9 million (£1.5 million) into its drug discovery program to develop novel gene transcription modulators for Parkinson’s disease. Hence, increasing investments in Parkinson’s drug development are expected to drive the anti-Parkinson’s drugs market.
In June 2019, AbbVie Inc., a global research-driven biopharmaceutical company, announced the acquisition of Allergan plc, a Dublin-based pharmaceutical company, for an amount of $63 billion. With Allergan’s diversified product portfolio, AbbVie Inc.is expected to strengthen the company’s position in international biopharmaceutical markets. AbbVie Inc. invested in neuroscience, multiple sclerosis, Alzheimer’s disease, and investigating potential disease for Parkinson’s disease. Allergan plc is a pharmaceutical company engaged in developing, manufacturing, and commercializing branded pharmaceutical, biologic, surgical, device, and regenerative medicine products for patients worldwide.
The increasing geriatric population and surging cases of Parkinson’s disease (PD) are projected to drive the demand for the anti-Parkinson drugs market.PD commonly occurs in people over the age of 60 years.
According to the United Nations Department of Economic and Social Affairs, one in 11 people in the world was over the age of 65 in 2019 and this number is expected to increase to one in six people by the end of 2050.Furthermore, according to the Michael J.
Fox Foundation for Parkinson’s Research’s statistics published in June 2019, over 1 million Americans live with PD. Degeneration of neurons in the geriatric population and the surge in cases of Parkinson’s disease is therefore driving the market growth.
The high cost of Parkinson’s disease treatment is anticipated to limit the growth of anti-Parkinson’s drugs market over the forecast period.According to the Michael J.
Fox Foundation for Parkinson’s Research’s statistics published in June 2019, the economic burden of Parkinson’s disease on patients, families, and the federal governments is increasing. In the United States, the overall cost of Parkinson’s disease to individuals, families, and government is $51.9 billion annually, with $25.4 billion on direct medical costs (including hospitalization and medication). Thus, the high cost of Parkinson’s disease treatment is expected to impact the anti-Parkinson drugs market.
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