Parkinson’s disease is a chronic disorder that gradually leads to progressive deterioration of motor functions, caused by the loss of dopamine-producing brain cells. The Parkinson’s disease drugs market is expected to witness significant growth, owing to the increasing cases of Parkinson’s disease, with the growth in the aging population, which may drastically result in increasing the market size during the forecast period.
New York, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Parkinson’s Disease Drugs Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p06001581/?utm_source=GNW
Pharmaceutical firms are developing new and improved therapies for Parkinson’s disease (PD). Recently, there have been some major product launches in Parkinson’s disease therapeutics and other assistive therapeutics. For instance, Adamas Pharmaceuticals’ amantadine extended-release capsules, Gocovri, were launched in January 2018. Gocovri was the first drug indicated for dyskinesia developed due to the long-term use of levodopa. Furthermore, most of the global firms have a robust drug pipeline for the treatment of Parkinson’s disease. As per the estimates, many blockbuster drugs are expected to be launched during the forecast period, which may boost the overall market growth.
Key Market Trends
COMT (Catechol-O-Methyltransferase) Inhibitors Segment is Expected to Register Better Growth over the Forecast Period
Carbidopa-levodopa therapy is the most effective medication for alleviating the motor symptoms of PD. However, it has been observed that this medication is not as effective as intended. Therefore, it is imperative that co-therapeutic agents, such as COMT (catechol-O-methyltransferase) inhibitors, are used along with carbidopa-levodopa therapy. The two most common COMT inhibitors used in the treatment of Parkinson’s disease are Comtan (entacapone) and Tasmar (tolcapone). Both these medications are available in the form of tablets, and they are routinely prescribed in conjunction with carbidopa-levodopa therapy. Furthermore, due to the rapidly aging population, the prevalence of Parkinson’s disease is also expected to grow, which may drive the demand for these drugs.
United States Represents the Largest Market for Parkinson’s Disease Therapeutics
According to the National Institute of Health, approximately 1.2 million people in the United States are projected to have Parkinson’s disease by 2030. It is the second-most common neurodegenerative disorder in the United States. In addition, there are thousands of patients who go undetected. As the aging population levels continue to grow, the number of people suffering from Parkinson’s disease (PD) may also continue to grow, which is expected to double by 2040. The number of patients suffering from Parkinson’s disease, combined with the availability of reimbursements and high awareness, is boosting the growth of the market. Furthermore, the high cost of Parkinson’s disease therapeutics in the United States leads to significant market size in terms of revenue. The average cost of Parkinson’s medication is approximately USD 2,500 per year, and Parkinson’s-related surgery can cost up to USD 100,000 per patient.
The Parkinson’s disease drugs market is becoming highly competitive. The recent product launches and the high number of therapeutics in product pipelines of the global pharmaceutical firms are contributing to the dynamic nature of the market. Several new products are expected to be launched during the forecast period, which may lead to significant changes in the market shares of pharmaceutical firms that are currently active in the market.
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