About Parkinson's Disease Treatment
Parkinson’s disease is a type of chronic and progressive movement disorder that includes malfunction and death of vital nerves cells in the brain, termed as neurons. Some of these dying neurons yield dopamine, a chemical that sends messages to the part of the brain, which controls coordination and movement. As Parkinson’s disease progresses, the amount of dopamine produced in the brain decreases, leaving a person unable to control movement normally. Some of the studies have found that genetic factors, and environmental factors can also be caused of Parkinson’s disease. Environmental factors such as exposure to environmental toxin or injury may possess the risk of Parkinson’s disease. According to National Institute of Environmental Health Sciences, 0.5 million people of the US currently have the disease, and prevalence is rising with the population ages. The major endeavour of the Parkinson’s illness treatment is to offer control on symptoms and signs, for instance, difficulty with walking, shakiness in hands, slowness of movement, and so on.
Attributes | Details |
---|
Study Period | 2018-2029 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 10.9% |
The key manufacturers are targeting the innovations of the services with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions in order to maintain their presence in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Parkinson's Disease Treatment market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GSK (United Kingdom), Merck (United States), Novartis AG (Switzerland), Teva (Israel), Boehringer Ingelheim (Germany), Impax Laboratories (United States), Abbvie (United States), Valeant Pharmaceuticals (Canada), Lundbeck (Denmark) and Sun Pharma (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Wockhardt (India), Acadia (United States), UCB (Belgium) and Dr. Reddy’s (India).
Segmentation Overview
AMA Research has segmented the market of Global Parkinson's Disease Treatment market by and Region.
On the basis of geography, the market of Parkinson's Disease Treatment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2023. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Hospital Pharmacies will boost the Parkinson's Disease Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Patient Care Setting, the sub-segment i.e. Hospitals will boost the Parkinson's Disease Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Drug Class, the sub-segment i.e. Carbidopa/Levodopa will boost the Parkinson's Disease Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
According to Parkinson.org More than 10 million people a year are living with Parkinson’s disease and Medications of individual costs around 2500 USD a year, and therapeutic surgery costs around 100,000 USD for individual
Market Growth Drivers:
Growth in Aging Population and the Associated Increase in the Prevalence of Parkinson’s disease and Government Funding for Research
Challenges:
Limited Therapeutic Options
Restraints:
Availability of Alternative Treatments
Opportunities:
Patent Expiry of Branded Drugs and Strong Drug Pipeline
Market Leaders and their expansionary development strategies
In December 2023, Pfizer and University of California, San Diego partnerd to advance research on using stem cell therapy for Parkinson's disease, aiming to restore lost dopamine-producing neurons.
In October 2023, First non-invasive ultrasound therapy approved in Europe where ultrasound stimulation device targets specific brain regions, offering a non-surgical option for managing tremor in Parkinson's disease.
Key Target Audience
Parkinson’s disease treatment product manufacturers, Parkinson’s disease treatment dealers and suppliers, Human identification service providers, Parkinson’s disease associations, Academic institutions, Venture capitalists, Consulting firms and Government bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.