The global parkinson’s disease treatment market is expected to witness significant growth over the forecast period. Increasing prevalence of Parkinson's disease is expected to accelerate the growth of this industry in near future. Additionally, combination treatments which aids in prolonged action of unremitting dopaminergic stimulation medicines, gene therapy and neural transplantation is anticipated to boost the industry growth.
This disorder is a progressive neurological disorder which affects the body movements. There are five stages of Parkinson’s disorder and can affect the individual's facial expressions, hand & leg movements as worsens with the increase in age.
On the basis of drug class, the market is segmented into Dopamine Receptor Agonists, MAO-Inhibitors and Carbidopa/Levodopa. For instance, Carbidopa/Levodopa is manufactured by Merc and is marketed with a brand name of Sinemet.
Further, based on distribution channel the industry is segmented into a hospital, online and retail pharmacies. Hospitals accounted for the maximum share in the Parkinson’s disease treatment market owing to the increased number of Parkinson’s disease cases. For instance, according to the Parkinson’s disease foundation, about 60,000 new cases of this disorder are being diagnosed in the U.S. every year.
Moreover, based on end use the market is segmented into hospitals and clinics. Hospitals again accounted for the maximum share,as therapy and treatments can be performed under one roof. Thus, minimizing the need to visit pharmacies and thereby increasing the utilization of hospital settings. For instance, diagnostic tests such as single photon emission computerized tomography (SPECT) scan called a dopamine transporter (DAT) scan, magnetic resonance imaging (MRI), computed tomography (CT), ultrasound and brain scans are performed majorly in hospital settings.
North America held the largest market share for Parkinson’s disease treatment market owing to the increasing occurrence of the disorder. Additionally, the well-developed healthcare infrastructure further aids in supplementing the market growth. Asia Pacific regional sector is anticipated to witness lucrative growth over the forecast period due to the presence of untapped opportunities in this region. Moreover, supportive government policies and the increase in research and development activities will also augment the sector growth.
The Parkinson’s disorder market is consolidated in nature and dominated by companies such as GlaxoSmithKline Plc., Novartis AG, Teva Pharmaceutical Industries Ltd., and Impax Laboratories, Inc. For instance, UK based pharmaceutical company BIAL Pharm had launched opicapone (Ongentys) in 2016 which is a new drug for improving mobility in adult patients with this disorder. Other players operating in this segment includes Orion Corporation, Par Pharmaceutical, Mylan N.V., Daiichi Sankyo, Cipla Inc., Wockhardt Limited, and Apotex Inc. and Salix Pharmaceuticals among other players.
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.