Parkinson Disease Therapeutics Market Insights:
Global Parkinson disease therapeutics market is anticipated to witness a healthy CAGR over the forecast period. Increase in the number of new therapies launched such as repetitive transcranial magnetic stimulation device, and adipose derived stem cell therapy among others are anticipated to boost the market over the forecast period.
Rising incidence of Parkinson’s disease management on healthcare systems of major countries such as the U.S. and UK is likely to stimulate the industry growth. Increased investments along with favorable initiatives by the government are likely to foster the pace of R&D in Parkinson’s disease therapeutics.
Growing disability-adjusted life years is anticipated to drive the industry growth over the forecast period. Increasing occurrence of disease coupled with rising demand for new drug therapies is anticipated to be the key drivers of the market.
Parkinson Disease Therapeutics Market - Treatment Insights
On the basis of treatment, the Parkinson disease therapeutics market is segmented into medical devices and medications. Medications are further classified on the basis of drug class such as Levodopa therapy, Dopamine Receptor Agonists, Anticholinergics, MAO-B Inhibitors & COMT Inhibitors and Other Therapeutic Options.
The presence of alternative options for the Parkinson’s disease management acts as a major limiting factor for the growth of this segment. The increase in demand for home health care devices has resulted in introduction of implantable neurostimulation devices for the treatment of diseases.
Health care professionals are drifting their focus towards advanced technologies that will offer superior quality treatment compared to the conventional therapeutics and devices. New product devices such as ultrasonic aspirators and stereotactic systems are gaining importance among medical professionals.
R & D by pharmaceutical companies for developing combination therapies to sustain the effect of dopaminergic drugs and to slow down the side-effect of Parkinson’s disease are major factors driving the market growth.
Parkinson Disease Therapeutics Market: End-User Insights
On the basis of end users, the Parkinson disease therapeutics market is segmented into hospitals, clinics, and homecare settings. The hospital's segment accounted for the major share of the global Parkinson Therapeutics market followed by the homecare settings. It is also expected to register the highest CAGR over the forecast period. The large share of the market is due to the increasing number of hospitals and homecare settings especially in the emerging countries along with rapid adoption of advanced technologies in these settings.
Parkinson Disease Therapeutics Market - Regional Insights
North America accounted for the largest share in the global Parkinson disease therapeutics market due to favorable reimbursement policies and high prevalence of the disease. According to Parkinson’s disease Foundation (PDF), approximately 60,000 Americans are diagnosed with Parkinson’s disease every year. Europe is estimated to hold second highest share in the global market on account of increasing research & development initiatives by the key players in the region.
Parkinson Disease Therapeutics Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase from global Parkinson’s therapeutics market. The major consumers of the product are Mayo Clinic, Nijmegen Parkinson Center, and Singapore National Neuroscience Institute.
Parkinson Disease Therapeutics Market - Competitive Landscape
Key players in the market such as Valeant Pharmaceutical International, Novartis AG, GlaxoSmithKline Plc., Boehringer Ingelheim, Teva Pharmaceutical Industries Ltd., UCB, Abbvie Inc., Impax Labs, and Lundbeck are involved in manufacturing of Anti-Parkinson’s medication.
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