Parkinson’s disease is a chronic and progressive neurological disorder where the symptoms continue and worsen with time. The primary symptoms include tremor, slow movements, rigidity, and balance difficulties (postural instability). Moreover, parkinsons disease has no available cure, but the drugs, and therapeutics available for the general population can minimize the effects of its signs and symptoms. Furthermore, the treatment options for parkinsons disease include neurological medications, surgeries, and neurostimulation devices.
North America to maintain its dominance in the parkinsons disease drugs and therapeutics market over the forecast period
Increasing incidence of parkinsons disease among the geriatric population, and increasing awareness about parkinsons disease among the general population are key drivers for growth of the global parkinsons disease drugs and therapeutics market. In addition, significant investment by major players, and a number of drugs in pipeline are major factors expected to contribute to growth of the global parkinsons disease drugs and therapeutics market.
However, lack of expertise for early detection and treatment of parkinsons disease is a key restraint for growth of the global parkinsons disease drugs and therapeutics market. Additionally, high cost of treatment, patent expiry on several drugs used for treatment of parkinsons disease, and increase in generic medication are all major factors hampering growth of the global parkinsons disease drugs and therapeutics market.
The global parkinsons disease drugs and therapeutics market report has been segmented on the basis of treatment type, end users, and region. On the basis of treatment type, the global parkinsons disease drugs and therapeutics market is segmented into medications, and medical devices. Medications is further sub segmented into dopamine precursors, peripheral decarboxylase inhibitors, COMT inhibitors, MAO inhibitors, and Others (anticholinergics, antihistaminic etc.). Medical devices are further sub segmented into, deep brain stimulation (DBS) devices, and carbidopa/levodopa enteral suspension delivery devices. On the basis of end user into, Hospital pharmacies, online pharmacies, retail pharmacies, and drug stores. On the basis of region into, North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
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Currently, the market in North America dominates the global parkinsons disease drugs and therapeutics market in revenue terms owing to high prevalence of parkinsons disease, and favorable government reimbursement policies in the region. The market in Europe accounts for second-highest revenue share, due to availability of a large patient pool, followed by Asia Pacific. The market in Asia Pacific is expected to witness relatively high growth over the forecast period owing to increasing awareness regarding parkinsons disease and its treatments, increasing government funding for healthcare facilities, and extensive investments made by the major players for R&D in the region.
Some prominent players in the global parkinsons disease drugs and therapeutics market include, GlaxoSmithKline Plc., AbbVie, Acorda Therapeutics, Inc., Biogen, Inc., Merck & Co., Novartis AG, Pfizer Inc., UCB, F-Hoffmann-La Roche Ltd, Inc., GlaxoSmithKline, and AstraZeneca plc.