Parkinson’s Disease Therapeutics Market Analysis

Parkinson’s Disease Therapeutics Market Analysis

COMT inhibitors segment is predicted to witness 8.8% growth rate till 2027 led by the high efficacy of Catechol-O-methyltransferase (COMT) inhibitors in alleviating the motor symptoms of Parkinson’s disease. COMT inhibitors have proven to be beneficial adjunct to levodopa (LD) therapy as they increased the bioavailability of LD and prolong the elimination of LD in Parkinson’s disease patients. The advantages associated with COMT inhibitors are essential to augment their utilization and demand.

Oral segment in the Parkinson’s disease therapeutics market exceeded USD 3.41 billion in 2020 impelled by the factors such as pain avoidance, ease of ingestion, patient compliance and versatility to accommodate various types of drugs. Several dopamine agonists including Ropinirole and Pramipexole are administered through oral route of administration for increased clinical outcome. Thus, these factors are growing the preference for oral route of administration that will in turn propel the overall industry growth.

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Parkinson’s disease therapeutics market for Adult patient segment accounted for USD 4.35 billion in 2020 propelled by the increasing prevalence of Parkinson’s disease in adults. According to a published article, in the U.S., in 2017, approximately 90,000 commercially insured adults between the age of 30 and 64 years were diagnosed with Parkinson’s disease. In addition, men are 1.5 times more likely to suffer from Parkinson’s disease than women.

U.S. Parkinson’s disease therapeutics market held more than 94% of revenue share in 2020 driven by high incidences of Parkinson’s disease in the country. It is the second-most common neurodegenerative disorder in the U.S. According to the National Institute of Health, approximately 1.2 million people in the U.S. are anticipated to have Parkinson’s disease by 2030. Several biopharmaceutical companies and research organizations are engaged in production of novel Parkinson’s disease therapeutics. For instance, in the U.S., more than 40 medicines are being developed for the treatment of Parkinson’s disease, many of which have gained fast track designation from the USFDA. Furthermore, well-established healthcare infrastructure and greater accessibility to therapeutics is contributing to the rising demand for Parkinson’s disease therapeutics.

UK Parkinson’s disease therapeutics market size was USD 198 million in 2020. According to the National Health Service (NHS), approximately 127,000 people in the UK are presently suffering from Parkinson’s disease. Rising burden of Parkinson’s disease management on healthcare systems of major countries in Europe including UK is stimulating the efforts by the government to increase the pace of R&D in Parkinson’s disease therapeutics. UK Parkinson’s Disease Consortium (UKPDC), is engaged in development of new hypothesis, explore disease mechanisms, and identification of new Parkinson’s disease therapeutics. Moreover, people suffering from Parkinson’s disease in the UK can apply for a Parkinson’s UK Grant up to USD 1,840. This factor is further contributing in the development and demand for Parkinson’s disease therapeutics.