Parkinsons Disease Therapeutics Market

• Rising aging population coupled with increasing prevalence of Parkinson’s disease to boost market growth

The aging population has been identified as a significant factor driving the market growth of Parkinson's Disease Therapeutics. Parkinson's Disease is a chronic and progressive neurological disorder that primarily affects older adults. As the global population ages, the prevalence of Parkinson's Disease is expected to increase, leading to a higher demand for therapeutics to manage the symptoms of the disease. Parkinson's Disease is more common among older adults, with the incidence of the disease increasing with age.

As the population ages, the number of people diagnosed with Parkinson's Disease is expected to rise, leading to a higher demand for therapeutic options. There are currently 10 million Parkinson's patients living in the world. Elderly adults who have the condition face key clinical symptoms include slowness, stiffness, limb tremor, and postural instability among others as the disease advances. As a result, Parkinson's disease treatment concentrates on preserving the patient's level of activity and improving quality of life.

Due to these characteristics, there is a significant need for treatments that are effective, which will drive up market revenue overall in the following years.

Additionally, UN research estimates that 727 million people worldwide would be 65 years of age or older in 2020. In addition, it is anticipated that by 2050, there will be twice as many individuals worldwide who are 80 years of age or older. Because of this, major pharmaceutical companies have been able to significantly expand their market share in this industry. For pharmaceutical companies, the availability of various dosage forms can enable product diversification, resulting in higher profitability.

According to the Parkinson’s Foundation more than 10 million people globally suffer from Parkinson Disease (PD), and 60,000 Americans have a diagnosis from Parkinson disease every year.

Increasing drug approvals for the treatment of Parkinson's disease are anticipated to stimulate market expansion during the anticipated time frame. For instance, the Japanese pharmaceutical and biotechnology company Kyowa Kirin Co., Ltd. reported in August 2019 that the NOURIANZ medication has received FDA approval in the United States (istradefylline). It is used as an additional therapy to levodopa/carbidopa in adult patients with Parkinson's disease who are having 'OFF' episodes (PD).

When a patient's medications are not functioning effectively, it can lead to an increase in Parkinson's disease (PD) symptoms like tremor and walking difficulties, which is known as a "off episode." In the US, NOURIANZ (istradefylline), an antagonist of the adenosine A2A receptor, is prescribed for Parkinson's disease. The medication offers patients with Parkinson's disease a brand-new non-dopaminergic once-daily oral therapeutic alternative.

The Global Parkinson’s Disease Therapeutics Market Industry benefits from ongoing advancements in research and development. Innovative therapies, including gene therapy and neuroprotective agents, are emerging as potential game-changers in treatment paradigms. The increasing understanding of the disease's pathophysiology has led to the identification of novel therapeutic targets. As a result, pharmaceutical companies are investing heavily in clinical trials, which may lead to the introduction of new drugs in the market. This dynamic environment is likely to enhance the overall therapeutic landscape for Parkinson's disease, contributing to the projected CAGR of 8.07% from 2025 to 2035.

The Global Parkinson’s Disease Therapeutics Market Industry is also influenced by rising awareness and education initiatives aimed at both healthcare professionals and the general public. Increased understanding of Parkinson's disease symptoms and treatment options is crucial for early diagnosis and intervention. Organizations and advocacy groups are actively promoting educational campaigns, which may lead to higher rates of diagnosis and treatment adherence. This heightened awareness is likely to drive demand for therapeutics, as more individuals seek medical assistance upon recognizing symptoms. Consequently, the market is poised for growth as awareness translates into increased therapeutic utilization.

The emergence of biologics and personalized medicine represents a transformative shift within the Global Parkinson’s Disease Therapeutics Market Industry. These innovative approaches focus on tailoring treatments to individual patient profiles, enhancing efficacy and minimizing adverse effects. As research progresses, biologics targeting specific pathways involved in Parkinson's disease are being developed, offering new hope for patients. This trend aligns with the overall movement towards personalized healthcare, which is gaining traction globally. The introduction of such targeted therapies is likely to contribute to the market's expansion, as patients increasingly seek customized treatment options.

The Global Parkinson’s Disease Therapeutics Market Industry is experiencing growth driven by the rising prevalence of Parkinson's disease. As populations age, the incidence of this neurodegenerative disorder is expected to increase significantly. In 2024, the market is valued at approximately 6.37 USD Billion, reflecting the urgent need for effective therapeutic options. By 2035, the market is projected to reach 15.0 USD Billion, indicating a growing demand for innovative treatments. This trend suggests that healthcare systems worldwide must adapt to the increasing burden of Parkinson's disease, thereby fueling investment in research and development of new therapeutics.

Investment in healthcare infrastructure is a crucial driver for the Global Parkinson’s Disease Therapeutics Market Industry. Governments and private entities are increasingly allocating resources to enhance healthcare facilities and improve access to treatment for patients with Parkinson's disease. This trend is particularly evident in developing nations, where healthcare systems are evolving to meet the needs of aging populations. Enhanced infrastructure facilitates better diagnosis, treatment, and management of the disease, ultimately leading to improved patient outcomes. As healthcare systems expand, the demand for effective therapeutics is expected to rise, further propelling market growth.

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Parkinson’s Disease Therapeutics market accounted for USD 1.95 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. With a maximum sales share of 35%-39% in 2021, North America dominated the sector globally. Its dominance can be attributable to the presence of top competitors in the area, including Sunovion Pharmaceuticals Inc., Amneal Pharmaceuticals LLC, Merck & Co. Inc., and AbbVie Inc. By launching novel PD symptom treatment products, these players promote growth.

For instance, Sunovion Pharmaceuticals Inc.'s Kynmobi was approved by the U.S. FDA in May 2020 to treat off-episodes in PD patients. Furthermore, it is projected that the region's extensive PD research will positively influence market expansion.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: PARKINSON’S DISEASE THERAPEUTICS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe parkinson’s disease therapeutics market accounts for the second-largest market share due to the availability of cutting-edge treatment facilities, government backing for the growth of the healthcare industry, an ageing population, and an increase in prevenances of parkinson’s disease. Further, the Germany parkinson’s disease therapeutics market held the largest market share, and the UK parkinson’s disease therapeutics market was the fastest growing market in the European region

The Asia-Pacific Parkinson’s Disease Therapeutics Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to rising number of generic medicine makers and the world's ageing population and rising investment in healthcare sector is anticipated to support the market’s growth is the region. Moreover, China parkinson’s disease therapeutics market held the largest market share, and the India parkinson’s disease therapeutics market was the fastest growing market in the Asia-Pacific region

Major market players are spending a lot of money on R&D to increase their product lines, which will help the parkinson’s disease therapeutics market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the parkinson’s disease therapeutics industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global parkinson’s disease therapeutics industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, parkinson’s disease therapeutics industry has provided medicine and therapy with some of the most significant benefits. The parkinson’s disease therapeutics market major player such as GlaxoSmithKline Plc, Novartis AG, Orion Corporation and others are working to expand the market demand by investing in research and development activities.

GlaxoSmithKline plc (GSK) is a British multinational pharmaceutical company headquartered in London, UK. It was formed in 2000 through the merger of Glaxo Wellcome and SmithKline Beecham. GSK is one of the largest pharmaceutical companies in the world, with operations in over 150 countries. GSK's main focus areas are pharmaceuticals, vaccines, and consumer healthcare. The company produces a range of prescription medicines, including treatments for respiratory diseases, cancer, and infectious diseases. GSK is also a leading producer of vaccines, with products targeting diseases such as influenza, meningitis, and shingles.

In addition, the company produces consumer healthcare products, such as over-the-counter medicines, oral care products, and nutritional supplements. In May 2019, GSK announced a collaboration with the Michael J. Fox Foundation for Parkinson's Research to support the development of new therapeutic strategies for Parkinson's Disease.

Novartis AG is a Swiss multinational pharmaceutical company headquartered in Basel, Switzerland. It was founded in 1996 through a merger of Ciba-Geigy and Sandoz, two large pharmaceutical companies with a long history of drug development and innovation. Novartis is one of the largest pharmaceutical companies in the world, with operations in more than 150 countries. The company has a diverse portfolio of products, including prescription medicines, generics, biosimilars, and over-the-counter products. Novartis' main focus areas include cardiovascular and metabolic diseases, oncology, neuroscience, and ophthalmology.

In August 2019, Novartis AG announced positive results from a Phase 2 clinical trial of its experimental drug, ABBV-951. The drug is being developed in collaboration with AbbVie and is a treatment for advanced Parkinson's Disease.