Parkinson’s Disease Therapeutics Market Size

Parkinson’s Disease Therapeutics Market Size

Parkinson’s Disease Therapeutics Market valued at around USD 5.18 billion in 2020 and is projected to grow at more than 6.5% CAGR between 2021 and 2027. Growing environmental factors and genetic heredity have augmented the demand for Parkinson’s disease therapeutics. Rising aging population coupled with increasing prevalence of Parkinson’s disease is anticipated to stimulate the market growth. Growing funding in research and development will lead to development of novel therapeutics that will further contribute to the market expansion. Rising awareness among the population regarding effective therapeutics will increase the demand for Parkinson’s disease therapeutics.

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The rising prevalence of Parkinson’s disease has led to the development of effective Parkinson’s disease therapeutics. However, these are regulated by regulatory authorities including the U.S. Food and Drug Administration (USFDA). For instance, Parkinson’s disease patients being treated with levodopa/carbidopa experience “off” episodes. Therefore, in 2019, the USFDA granted approval of Nourianz (istradefylline) tablets that overcome the side effects of levodopa/carbidopa in adult patients suffering from Parkinson’s disease. In Europe, the licensing procedure for therapeutics to treat Parkinson’s disease is governed centrally by the European Medicines Agency (EMA).

The ongoing COVID-19 pandemic is an unprecedented public health concern. According to a recently published study, COVID?19 may worsen Parkinson’s disease by several mechanisms such as pharmacodynamics changes and systemic inflammatory responses. Thus, scientists across the globe are engaged in developing Parkinson’s disease therapeutics including amantadine to treat patient suffering from Parkinson’s disease, thereby maintaining a consistent demand for Parkinson’s disease therapeutics. However, the restrictions and diversion of resources precipitated by COVID?19 have led to inaccessibility of effective symptomatic treatment for Parkinson’s disease.

Rising aging population coupled with increasing prevalence of Parkinson’s disease will stimulate the demand for Parkinson’s disease therapeutics market. Parkinson’s disease (PD) is one of the most complex and common neurodegenerative disorders that primarily affects the aging population. Around 10 million people worldwide are presently living with Parkinson’s disease. As the disease progresses, the elderly patients experience cardinal clinical symptoms such as slowness, stiffness, limb tremor, postural instability among others. Hence, the treatment for the Parkinson’s disease focuses on maintaining the patient’s activity level and optimizing quality of life. Thus, owing to these attributes there is a high demand for effective therapeutics that will in turn propel the overall market revenue in the coming years.