Parkinson’s Disease Therapeutics Market Analysis By Emerging Trends, Future Growth Forecast to 2027

Parkinson’s Disease Therapeutics Market Analysis By Emerging Trends, Future Growth Forecast to 2027

The Parkinson’s disease therapeutics market expansion would be augmented by extensive investments in R&D activities to uplift the development in the treatment of the disease. Reportedly, the Parkinson’s Foundation in 2020 invested nearly US$3.5 million in 34 research programs to support the efforts of promising scientists in the field of Parkinson’s disease (PD).

The Parkinson’s Disease Biomarkers Program (PDBP) funding endorse discovery projects to encourage the identification of developments and diagnostic biomarkers for the disease. Consequently, a substantial rise in funding towards R&D programs for the development of novel therapies will propel the demand for Parkinson’s therapeutics in the forthcoming years.

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As per the recent statistics, the number of Americans diagnosed with PD was nearly 60,000 each year. Also, the number of people living with PD reported at over 10 million globally. According to a GMI, analysis report, global Parkinson’s disease therapeutics market size is projected to surpass US$8 billion by 2027.

The Parkinson’s disease therapeutics industry progression would further be augmented by the growing awareness among the population about the disease. Early diagnosis of the disease plays a key role in providing effective treatment to the affected patient. The lack of awareness and knowledge among people about Parkinson’s disease has led to the commencement of numerous awareness programs. For instance, World Parkinson’s Day is an initiative to encourage new research and treatment programs by creating awareness among the population pertaining to the disease.

The dopamine agonists segment accounted for a considerable revenue share at nearly US$694 million in 2020. The medication is highly preferred in the treatment of Parkinson’s disease owing to its resemblance to the effect of dopamine in the brain. The medication does not contain any side effects such as dyskinesia, which is mostly caused by other drugs. These drugs are adopted to improve the condition-related symptoms by indicating the presence of dopamine in the brain, therefore propelling industry growth.

The adult patient segment of the Parkinson’s disease therapeutics industry is expected to grow at 6.9% CAGR up to 2027. The segment expansion is majorly attributed to the growing vulnerability to idiopathic Parkinson’s disease among the aging population base. The rapidly growing aging population base across the globe has resulted in a large number of patients being affected by Parkinson’s disease.

The Brazil Parkinson’s disease therapeutics industry was over US$90 million in 2020. The regional industry progression is predominantly driven by robust economic expansion, substantial development in healthcare infrastructure, and rising incidences of Parkinson’s disease in the country. Also, the presence of dynamic pharmacology and biotechnology research sector backed by the Brazilian government will provide exponential growth opportunities to the regional industry.

Moreover, the health policy in Brazil is formulated to promote adjunction and collaboration among scientists and several therapeutic research projects. Consequently, the existence of advanced healthcare infrastructure will foster Parkinson’s disease therapeutics industry landscape in the region.

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Leading firms functioning in the Parkinson’s disease therapeutics industry include Teva Pharmaceutical, Acadia Pharmaceuticals, AbbVie Inc., UCB, Amneal Pharmaceuticals, Roche, and Orion Corporation, among others.

These industry firms are engaged in implementing several strategies including R&D, the inclusion of advanced technology, and others to produce novel products to lead the competitive market scenario. For example, the U.S.-based ACADIA Pharmaceuticals, Inc. received approval for its NUPLAZID drug from FDA in 2016. The recognition from the regulatory body helped the company in augmenting the product portfolio and uplifting its customer base.

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