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 The anti-parkinson drugs market has witnessed significant growth, reaching $9.73 billion in 2023 and projected to climb to $10.43 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.2%. Factors contributing to this growth include an aging population, increasing disease prevalence, advancements in healthcare infrastructure, and ongoing research initiatives.

Anticipated Growth and Key Drivers in the Coming Years

1. The market is poised for robust growth, reaching $13.36 billion by 2028, with a CAGR of 6.4%.
2. Key drivers include growing awareness, biotechnological advancements, and the expansion of emerging markets.
3. Major trends in the forecast period encompass investments in R&D, personalized medicine, disease-modifying therapies, drug repurposing, telemedicine and remote monitoring, biosimilars, and research collaborations.

Increasing Geriatric Population In The Anti-Parkinson Drugs Market

1. Geriatric Population as a Driving Factor
   • The rising geriatric population and the increasing incidence of Parkinson’s disease (PD) are anticipated to propel the demand for anti-parkinson drugs.
   • Globally, by 2030, 1 in 6 individuals will be 60 or older, and by 2050, this number is expected to double to 2.1 billion.
2. Regional Perspective: UK’s Aging Population
   • In the UK, the elderly population is projected to account for 24% of the total population (17.4 million people) by 2043.
   • This demographic shift underscores the significance of anti-parkinson drugs in addressing age-related health challenges.
3. Impact on Market Growth
   • The increasing geriatric population is a pivotal factor driving the growth of the anti-parkinson drugs market.

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Innovative Advancements In The Anti-Parkinson Drugs Market

1. Product Innovation for Improved Patient Services
   • Major companies are innovating products like Safinamide to enhance the quality of life for Parkinson’s patients.
   • Optimus Pharma launched Safinamide in April 2021, approved by the Drug Controller General of India, providing an affordable and accessible treatment option.
2. AbbVie’s Strategic Acquisition
   • In October 2023, AbbVie Inc. acquired Mitokinin for $110 million, aiming to bolster its neuroscience pipeline and offer new treatment options for Parkinson patients.
   • Mitokinin specializes in providing treatments for Parkinson’s disease.

Segmentation and Market Dynamics

1. Market Segmentation
   • The anti-parkinson drugs market is segmented by drug class (levodopa/carbidopa, dopamine receptor agonists, MAO-B inhibitors, COMT inhibitors, anticholinergics, and others), route of administration (oral, injection, transdermal), and distribution channel (hospital pharmacies, retailer pharmacies, online pharmacies).
2. Regional Dominance
   • North America emerged as the largest region in the anti-parkinson drugs market in 2023, highlighting the region’s pivotal role.
   • The Middle East is expected to be the fastest-growing region during the forecast period, indicating expanding opportunities.

Conclusion: A Promising Future for Anti-Parkinson Drugs As the anti-parkinson drugs market continues to evolve, driven by the increasing aging population and innovative advancements, the future holds promising opportunities. With a focus on research collaborations, personalized medicine, and technological innovations, stakeholders in the industry are well-positioned for sustained growth. The strategic acquisitions and product innovations outlined underscore the dynamic landscape of the market, shaping the future of Parkinson’s disease management.

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