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Anti-Parkinson Drugs Global Market Report 2023
Major players in the anti-Parkinson drugs market are GlaxoSmithKline plc, Pfizer, Merck, Novartis, Roche, UCB S.A, Teva Pharmaceuticals, AbbVie Inc., Mylan, Boehringer Ingelheim, Orion Pharma, ACADIA Pharmaceuticals Inc, Sun Pharma, Wockhardt, Dr.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Anti-Parkinson Drugs Global Market Report 2023" - https://www.reportlinker.com/p06245010/?utm_source=GNW
Reddy’s, Intas, US WorldMeds, Zydus Cadila, Cipla, Strides, 1 A Pharma, Upsher-Smith, Lundbeck, Vertical Pharmaceuticals, LLC, Zambon Pharmaceuticals, M Somerset Pharmaceuticals Inc., and Wockhardt.
The global anti-parkinson drugs market will grow from $9.64 billion in 2022 to $10.23 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The anti-parkinson drugs market is expected to grow to $12.37 billion in 2027 at a CAGR of 4.9%.
The anti-parkinson drugs market consists of sales of catechol-O-methyl transferase [COMT] inhibitors, anticholinergic drugs, and amantadine.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Anti-parkinson drug is a term used to describe the medications that are mostly used to treat Parkinson’s disease.They are not psychiatric medications, so they cannot legally be used to treat mental health issues.
However, a doctor or psychiatrist may recommend one of these medications in addition to an antipsychotic to lessen some of the antipsychotic’s negative effects.
North America was the largest region in the anti-Parkinson drugs market in 2022.Middle East is expected to be the fargest growing region in the forecast period.
The regions covered in the anti-Parkinson drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main class of anti-Parkinson drugs is levodopa/carbidopa, dopamine receptor agonists, monoamine oxidase type b (MAO-b) inhibitors, catechol-o-methyltransferase (COMT)-inhibitors, anticholinergics, and other drugs. catechol-O-methyltransferase (COMT) inhibitors are a class of drugs used to treat Parkinson’s disease symptoms in conjunction with carbidopa-levodopa therapy. The main types of fertility drugs are prescription fertility drugs and over-the-counter fertility drugs. The drugs are administered through oral, injection, and transdermal that are distributed through hospital pharmacies, retail pharmacies, and online pharmacies.
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 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.For instance, in June 2020, according to a study by the United Nations, the total number of people age 80 and above is expected to increase from 143 million in 2019 to over 426 million in 2050.
Also, in February 2020, Harvard University, a US-based academic university specializing in teaching, learning, and research, will announce that, according to the Parkinson’s Foundation, there are more than 10 million people living with Parkinson’s disease globally, and this year, there will be close to one million cases in the United States. Degeneration of neurons in the geriatric population and the surge in cases of Parkinson’s disease are therefore driving market growth.
Increased government and corporate investment in Parkinson’s disease drug R&D is a major trend in the anti-Parkinson drugs market. For instance, in August 2022, the Parkinson’s Foundation, a US-based national organization that provides funding for research and educational resources, will make a $5.7 million investment in 33 projects to speed up cutting-edge research on Parkinson’s disease (PD). Through research grants, the Foundation helps scientists carry out creative studies on numerous PD-related topics in an effort to develop novel therapies, treatments, and ultimately a cure for the 10 million people who suffer from this crippling neurological condition worldwide. Hence, increasing investments in Parkinson’s drug development are expected to drive the market for anti-Parkinson’s drugs.
The high cost of Parkinson’s disease treatment is anticipated to limit the growth of the anti-Parkinson’s drug market over the forecast period.According to the Michael J.
Fox Foundation for Parkinson’s Research’s statistics, the economic burden of Parkinson’s disease on patients, families, and the federal government 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.
Eli Lilly and Company, a US-based pharmaceutical company specializing in the discovery, development, manufacturing, and commercialization of human drugs, paid $1.04 billion for Prevail Therapeutics Inc in December 2020. Through this acquisition, Prevail’s portfolio of clinical-stage and preclinical neuroscience assets will serve as the program’s foundation, and the acquisition will introduce a new approach to Lilly’s drug discovery and development processes. This will allow Lilly to expand its research efforts, launch a gene therapy program, and increase the drug development and commercialization capabilities of Lilly in the field of neurological disorders. Prevail Therapeutics Inc. is a US-based biotechnology company pioneering in the discovery and development of gene therapies for patients with Parkinson’s disease and other neurodegenerative disorders.
The countries covered in the anti-Parkinson drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The antiparkinson drugs market research report is one of a series of new reports that provides anti-Parkinson drugs market statistics, including anti-Parkinson drugs industry global market size, regional shares, competitors with an antiparkinson drugs market share, detailed anti-Parkinson drugs market segments, market trends and opportunities, and any further data you may need to thrive in the anti-Parkinson drugs industry. This antiparkinson drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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