Parkinson's Disease Drugs Market

Market Overview

The global Parkinson's Disease drugs market size was valued at USD 4,785.2 million in 2022. It is projected to reach USD 7,469.08 million by 2031, growing at a CAGR of 4.13% during the forecast period (2023-2031).

Parkinson's Disease is a nervous system disorder that impairs movement control. Parkinson's Disease is caused by the death or destruction of nerve cells (neurons) in the brain's substantia nigra (SN) region. Often, the problem develops gradually and gets worse over time. The few signs of Parkinson's Disease include trembling, muscle rigidity, difficulty walking, maintaining bodily balance, and coordination. Increasing pharmacological approvals for treating Parkinson's Disease will stimulate market expansion during the anticipated time frame.

Market Dynamics

Market Drivers:

Rising Geriatric Population and Burden of Parkinson's Disease

The population of adults above the age of 65 is steadily increasing. World Population Prospects estimates that by 2050, one in six persons will be above 65, up from one in 11. One in four people in Europe and North America could be 65 or older by 2050. For the first time in 2018, adults 65 and over outnumbered youngsters under five worldwide. By 2050, there will be 426 million people who are 80 years of age or older, which is expected to quadruple the current population of 143 million. Aging occurs biologically due to a buildup of different cell types and cell damage over time. As a result, physical and mental health gradually deteriorate. 

Parkinson's Disease (PD) is referred to as the sickness of the old because it affects adults over 60 most frequently. Only 4% of instances are discovered in people under 50. One percent of those over 60 have Parkinson's Disease (PD). Statistics released by Health Union LLC in 2019 show that this rises to 5% of people over 85. As a result, age is the leading risk factor for PD development.

Market Restraint:

Generic Competition to Key Therapies

Medications with brand names can be substituted with generics. Prescriptions for generic medicines are common since they are inexpensive, readily available, and widely used. The U.S. Food and Drug Administration (FDA) estimates that approximately 90% of all prescriptions filled in the country are generics, which can significantly reduce healthcare expenses for patients and hospitals. As a result, patients are choosing and currently using generic medications because they are less expensive. 

Consequently, it is anticipated that this tendency would limit the availability of patented medications. One of the most well-known generics for Sinemet in treating Parkinson's Disease (PD) is the instant-release version of carbidopa/levodopa. Rasagiline, a cheaper version of the MAO-B inhibitor Azilect, entered the market.

Market Opportunities:

Growing Awareness among the Population

Every April, ParkinsonsDisease.net works with the Parkinson's Disease (PD) community to increase awareness of the condition. April has been designated Parkinson's Disease Awareness Month, during which time the already active Parkinson's Disease community ramps up its efforts to raise awareness of the condition. In recent years, more and more communities have supported those afflicted with this illness. The American Parkinson's Disease Association has released a new PSA that implores viewers to learn more about Parkinson's Disease. Both social media and broadcast television featured this program.

Funding organizations, research teams, and non-profit organizations are working with consumers in various methods to increase awareness of this condition worldwide. The educational initiatives are also essential in raising awareness of the disease among patients and their families, especially in low- and middle-income nations where the government and healthcare facilities are more preoccupied with serious illnesses other than Parkinson's.

Regional Analysis

Europe Dominates the Global Market

The global Parkinson's Disease drugs market is divided into four regions: North America, Europe, Asia-Pacific, and LAMEA. 

Europe is the most significant revenue contributor and is expected to grow at a CAGR of 4.36% during the forecast period. Most of the disease's victims are discovered to be elderly individuals since, according to the Fondation de France, one in three French people will likely have PD by the year 2050, and one in five is over 60. The market has a wide variety of new medications, contributing to increased demand among French consumers. In a groundbreaking Phase II clinical trial for the medicine ondansetron, Parkinson's UK collaborated with UCL and intended to invest GBP 1 million. This trial will determine Ondansetron's efficacy and safety as a treatment. To determine whether inhibiting the immune system can halt the progression of Parkinson's Disease, the University of Cambridge researchers are utilizing individuals with recently diagnosed Parkinson's Disease in a Phase II clinical trial of azathioprine. The amount of research has been steadily rising, helping the market as a whole.

Asia-Pacific is expected to grow at a CAGR of 4.64% during the forecast period. Britannia Pharmaceuticals, a specialty pharmaceutical business with headquarters in the U.K., introduced Apomorphine in India in collaboration with Vikram Hospital in Bengaluru. Since more than 15 years ago, apomorphine injections and infusion pumps have been widely used in the West to treat Parkinson's Disease. Additionally, most Indian organizations work to raise P.D. knowledge among the populace there. For instance, World Parkinson's Day is observed by the PDMDS (Parkinson's Disease and Movement Disorder Society), an all-India registered charitable organization. This means that the market is anticipated to expand throughout the forecast period due to rising product approvals and to raise community awareness. Parkinson's Disease patients have been reported to benefit from using Zhichan, a traditional Chinese treatment. Various active ingredients in it may have therapeutic benefits for Parkinson's Disease. These complementary treatments could, however, impede the development of P.D. medications. Azilect, a novel drug created by Lundbeck and Teva to treat P.D., was introduced in Shanghai. With the introduction of Azilect, Chinese medical professionals and P.D. patients now have a new therapy choice that can meet their demands and enhance their quality of life.

One of the biggest markets for Parkinson's medications is determined to be in the United States. Nearly one million Americans are estimated to have Parkinson's Disease (P.D.), according to the Parkinson's Foundation. Additionally, P.D. is diagnosed in about 60,000 Americans each year. As a result, the prevalence of Parkinson's Disease rises with age, although only around 4% of those with the disease are identified before age 50. According to the Parkinson's Foundation, Parkinson's Disease is the 14th most common cause of mortality in the United States and the second-most prevalent neurological disease after Alzheimer's. The Nourianz (istradefylline) tablets have been given the go-ahead by the U.S. Food and Drug Administration as a supplement to levodopa/carbidopa in the treatment of adult Parkinson's Disease (P.D.) patients who are having "off" periods. When a patient's meds aren't working correctly, they experience an "off" episode, which worsens their P.D. symptoms, including tremors and difficulties walking.

Brazil has authorized the distribution of cannabis-based pharmaceuticals to patients with valid prescriptions. The Brazilian Health Regulatory Agency claims that the regulation will permit the production of such items in a lab (Anvisa). Since reporting of P.D. is not required in Brazil, its prevalence can only be approximated there. According to estimates, there are 220,000 patients, and according to specific worldwide research, that number is predicted to more than double by 2030. Therefore, it is anticipated that rising disease prevalence will fuel market expansion.

Segmental Analysis

The global Parkinson's Disease drugs market is segmented by mechanism of action.

Based on mechanism of action, the global Parkinson's Disease drugs market is bifurcated into dopamine agonists, anticholinergic, MAO-B inhibitors, amantadine, carbidopa-levodopa, COMT inhibitors, and other mechanisms of action. 

The carbidopa-levodopa segment is the highest contributor to the market and is estimated to grow at a CAGR of 7.42% during the forecast period. Levodopa is peripherally converted to dopamine by the enzyme amino acid decarboxylase (dopa decarboxylase), which is inhibited by carbidopa. For the treatment of PD, the mechanism of action is well known. Carbidopa stops nausea and delays the early conversion of levodopa into dopamine in the bloodstream, allowing more of it to reach the brain. Most medications are administered orally, although different pharmaceutical companies have adjusted the dosage in tablet form by making them extended-release, film-coated, and disintegrating. Among the well-known medications discovered are those sold under Sinemet, CR, Parcopa, Rytary, and Duopa. For the treatment of motor complaints, combination therapy is one of the best. Additionally, it is anticipated that increased new product launches and drug approvals will fuel growth in the future.

Dopamine agonists (DA agonists) are one of the primary drugs frequently used to treat Parkinson's Disease symptoms because they have proven to be successful in lowering the motor fluctuations seen in many Parkinson's patients. Agonists of dopamine function by imitating dopamine. They bind to and activate dopamine receptors, proteins on the neurons, which relieves symptoms, especially motor symptoms such as rigidity, poor balance, tremor, and lack of spontaneous movement. Ergoline and non-ergoline agonists are two categories of dopamine agonists. First-generation drugs include ergoline agonists like bromocriptine, cabergoline, and pergolide, whereas second-generation drugs include pramipexole, ropinirole, rotigotine, and apomorphine. However, dopamine agonists have several side effects, such as nausea, hallucinations, sleep attacks, dyskinesia, dizziness, orthostatic hypotension, etc., which may limit their use and restrain the market's expansion.

Recent Developments

• May 2022- AbbVie submitted a new drug application to U.S. FDA for Investigational ABBV-951 (Foscarbidopa/Foslevodopa) to treat advanced Parkinson's Disease.
• October 2022- Merck announced Positive Top-line Results from the pivotal Phase 3 STELLAR trial evaluating sotatercept for treating adults with Pulmonary Arterial Hypertension (PAH).