Global Parkinsons Disease Therapeutic Market Is Witness High Growth Due To Rising Incidences Of Parkinson's Disease And Growing Product Approvals

 

Overview:

There is no cure for Parkinson's, whereas treatments can help control the symptoms and slow progression of the disease. These include medications, surgery and physical, occupational and speech therapy. Levodopa is a form of dopamine that helps to improve movement and tremor. The best Parkinson's medication is a combination of levodopa with carbidopa, which protects the drug from early conversion to dopamine outside the brain and reduces side effects such as nausea and lightheadedness while standing. Some researchers are developing new therapies that target the abnormal a-syn protein, which is found in the brains of people with Parkinson's. Among them are genetic manipulations, which aim to reduce the amount of a-syn in the brain and alter its activity. Doctors may recommend deep brain stimulation, or DBS, to reduce tremor, rigidity and other movement problems. DBS uses electrodes implanted in your brain to send electrical pulses to reduce the Parkinson's symptoms.

Market Dynamics:

Increasing collaborations among key players is estimated to augment growth of the global Parkinson’s Disease Therapeutic Market over the forecast period. For instance, ABL Bio Inc. and Sanofi collaborated and entered in an agreement in January 2022, for developing and commercializing a treatment for Parkinson’s disease. This treatment is a preclinical stage bispecific antibody targeting alpha-synuclein and insulin-like growth factor 1 receptor.  Moreover, easy availability of alternative medical treatments is anticipated to restrain growth of the global Parkinson’s disease therapeutics market over the forecast period.

Impact of COVID-19:

 

COVID-19 was declared as public health emergency by the World Health Organization in 2020. The pandemic had a significant impact on the economy. Several countries like China, Italy, Spain, France, and many more imposed strict lockdowns for preventing the spread of the virus. The number of COVID-19 cases were increasing day-by-day. Parkinson’s Disease Therapeutic Market restrictions had a negative impact on several markets. The healthcare sector was facing huge challenges like shortages of medical devices, consumables and skilled professionals. Healthcare professionals were prioritizing COVID-19 patients. This resulted in delay of other treatments options. Thus, the growth of the global Parkinson’s disease therapeutics market was restrained during the pandemic.

 

Key Takeaways:

 

The global Parkinson’s disease therapeutics market is expected to witness high growth, exhibiting CAGR of 6.3 % over the forecast period, due to increasing product approvals. For instance, Sunovion Pharmaceuticals Inc., gained approval from the U.S. FDA for Kynmobi in May 2020. This is used for treating off-episodes in patients with Parkinson’s disease.

 

North America is anticipated to witness significant growth in the global Parkinson’s Disease Therapeutic Market over the forecast period, owing to growing prevalence of Parkinson’s disease and well-developed healthcare infrastructure.

 

Major players operating in the global Parkinson’s disease therapeutics market are Cerevel Therapeutics, Supernus Pharmaceuticals, Inc., Novartis AG, Amneal Pharmaceuticals LLC, Teva Pharmaceutical Industries Ltd., H. Lundbeck A/S, Merck & Co., Inc., AbbVie, Inc., and GlaxoSmithKline plc.