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What Is the Forecast for the Parkinson’s Disease Market from 2024 to 2025?
The Parkinson’s disease market has experienced significant expansion in the last few years. The market, which was worth $3.34 billion in 2024, is predicted to increase to $3.63 billion in 2025, with a compound annual growth rate (CAGR) of 8.5%. The surge in the market during the historic period is creditable to the rise in research and development efforts, enhanced government funding, increased personalized treatment plans, bolstered support networks for those suffering from Parkinson’s, and the growing implementation of sophisticated rehabilitation therapies.
What Is the Projected Market Size of the Parkinson’s Disease Market?
The market size of Parkinson’s disease is predicted to surge significantly in the upcoming years, reaching a valuation of $4.98 billion in 2029 with a compound annual growth rate (CAGR) of 8.2%. This anticipated growth during the forecast period can be associated with factors such as increased knowledge about the symptoms of Parkinson’s disease, proactive government efforts, augmented healthcare expenditure, a growing number of clinical trials related to Parkinson’s disease, and a higher acceptance of gene therapies. Key factors expected to influence the market during forecast period are developments in technology, government funding and initiatives, application of artificial intelligence in disease diagnosis, innovative solutions, and the advent of personalised medicine.
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Who are the Major Competitors in the Parkinson’s Disease Market Outlook?
Major companies operating in the parkinson’s disease market are Roche Holding AG, AbbVie Inc., Novo Nordisk A/S, Takeda Pharmaceutical Company Limited, UCB S.A., Eisai Co. Ltd., Kyowa Kirin Co. Ltd., Amneal Pharmaceuticals Inc., Neurocrine Biosciences Inc., Supernus Pharmaceuticals Inc., Sunovion Pharmaceuticals Inc., Intracellular Therapies Inc., Voyager Therapeutics Inc., Sage Therapeutics Inc., Adamas Pharmaceuticals Inc., Sun Pharma Advanced Research Company Ltd., Neuraly Inc., Mitsubishi Tanabe Pharma Corporation, Athira Pharma Inc., VistaGen Therapeutics Inc.
What Is Fueling Growth in the Parkinson’s Disease Market?
The rising occurrence of neurodegenerative diseases is anticipated to boost the growth of the parkinson’s disease market in the future. These disorders are characterized by the gradual deterioration and loss of neuron functionality in the brain and nervous system. This increasing prevalence is owed to various factors such as aging demographics, environmental impacts, improved diagnostic methods, an increase in chronic health issues, genetic factors, and changes in lifestyle. Parkinson’s disease contributes significantly to the comprehension of neurodegenerative diseases, offering critical knowledge about their underlying mechanisms, potential therapeutic targets, and paving the way for innovative treatment strategies. For instance, the European Brain Council, a non-profit organization based in Belgium, reported in April 2022 that globally, over 600 neurological diseases and close to 300 psychiatric conditions affect millions, including 65 million individuals suffering from epilepsy. In Europe alone, it’s estimated that 10.5 million individuals are afflicted with dementia, with expected numbers to rise to 18.7 million by 2050. Thus, the growing occurrence of neurodegenerative diseases is bolstering the expansion of the parkinson’s disease market.
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Which Parkinson’s Disease Market Segments Are Growing the Fastest?
The parkinson’s disease market covered in this report is segmented –
1) By Drug Class: Dopamine Agonists, Catechol-O-Methyltransferase Inhibitors, Monoamine Oxidase B Inhibitors, Anticholinergics, Carbidopa-Levodopa, Other Drug Classes
2) By Route Of Administration: Oral, Injectable, Intestinal infusion, Subcutaneous, Other Route Of Administrations
3) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, Online Pharmacies
4) By Patient Care Setting: Clinics, Hospitals
Subsegments:
1) By Dopamine Agonists: Ergot Derivatives, Non-Ergot Derivatives
2) By Catechol-O-Methyltransferase (COMT) Inhibitors: Entacapone, Tolcapone, Opicapone
3) By Monoamine Oxidase B (MAO-B) Inhibitors: Selegiline, Rasagiline, Safinamide
4) By Anticholinergics: Trihexyphenidyl, Benztropine, Procyclidine
5) By Carbidopa-Levodopa: Immediate-Release Formulation, Extended-Release Formulation, Inhaled And Intestinal Gel Formulations
6) By Other Drug Classes: Amantadine And Derivatives, Adenosine A2A Receptor Antagonists, Glutamate Antagonists
Which Industry Trends Are Shaping the Future of the Parkinson’s Disease Market?
Numerous leading firms in the parkinson’s disease market are honing in on the generation of new and cutting-edge solutions, such as levodopa-oriented therapy, to boost motor function and ensure ongoing symptom care for individuals diagnosed with advanced parkinson’s disease. Levodopa-based treatments utilize levodopa, a type of medication that transforms into dopamine in the brain, to hone motor functionality and bring relief from the symptoms of Parkinson’s disease. Take, for example, in October 2024 when AbbVie Inc., an American biopharmaceutical enterprise, had their combination therapy named VYALEV, which includes levodopa and carbidopa, greenlit by the US Food and Drug Administration (FDA) for use in Parkinson’s disease treatment. This particular formulation is designed to elevate the efficiency of levodopa by blocking its premature breakdown, thereby ensuring dopamine levels are raised. This treatment proves successful in controlling the motor symptoms of Parkinson’s disease, including rigidity, tremors, and bradykinesia, subsequently improving a patient’s capacity to perform everyday activities. Consequently, it’s gained recognition as a pivotal therapeutic option for those parkinson’s disease patients dealing with motor fluctuations.
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Which Countries Are Leading the Parkinson’s Disease Market?
North America was the largest region in the parkinson’s disease market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the parkinson’s disease market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the parkinson’s disease market, and how is it changing globally?
2. Who are the major companies in the parkinson’s disease market, and how are they performing?
3. What are the key opportunities and risks in the parkinson’s disease market right now?
4. Which products or customer segments are growing the most in the parkinson’s disease market?
5. What factors are helping or slowing down the growth of the parkinson’s disease market?
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