According to a new market research report “Parkinsons Disease Treatment Market by Drug Class (Carbidopa/Levodopa, Dopamine Receptor Agonists, MAO-Inhibitors), Distribution Channel (Hospital, Online, Retail Pharmacies), Patient Care Setting (Hospitals, Clinics) – Global Forecast to 2022″, published by MarketsandMarkets™, the market is expected to reach USD 5.69 Billion by 2022 from USD 4.24 Billion in 2017, at a CAGR of 6.1%.
The market is being driven by the growth in aging population and the associated increase in the prevalence of Parkinson’s disease and government funding for research.
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By drug class, the carbidopa/levodopa segment is estimated to dominate the market in 2017
On the basis of drug class, the Parkinson’s disease therapeutic drugs market is segmented into carbidopa/levodopa, dopamine receptor agonists, MAO inhibitors, COMT inhibitors, anticholinergics, and other drugs. In 2017, the carbidopa/levodopa segment is expected to account for the largest share of the market. Carbidopa/levodopa drugs are more potent than most other drug classes are hence widely used in the treatment of Parkinson’s disease.
By distribution channel, the hospital pharmacies segment is estimated to hold the largest share of the market in 2017
By distribution channel, the Parkinson’s disease therapeutic drugs market has been segmented into hospital pharmacies, retailer pharmacies, and online pharmacies. In 2017, the hospital pharmacies segment is expected to account for the largest share of the market. The large share of this segment can primarily be attributed to the availability of a wide range of drugs in these facilities and the increasing number of patient visits to hospitals.
Hospitals to dominate the Parkinson’s Disease Treatment Market during the forecast period
The Parkinson’s Disease Treatment Market is classified by patient care settings into hospitals and clinics. In 2017, the hospital segment is expected to command the largest share and is estimated to grow at the fastest rate as compared to clinics segment. This market is mainly driven by robust healthcare services provided in hospitals and the presence of skilled neurologists in the hospitals.
Asia to offer lucrative growth opportunities
By region, the global Parkinson’s Disease Treatment Market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). While Europe is expected to hold the largest share of the market in 2017, Asia is expected to grow at the highest CAGR during the forecast period. Increasing number of players in the region and the rising aging population are some major factors driving the high growth of this regional segment.
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Key Market Players
Some of the major players operating in the Parkinson’s disease treatment market include Teva (Israel), Novartis AG (Switzerland), GSK (UK), AbbVie (US), Merck (US), Boehringer Ingelheim (Germany), Impax Laboratories (US), Lundbeck (Denmark), Sun Pharma (India), Wockhardt (India), UCB (Belgium), Valeant Pharmaceuticals (Canada), and Acadia (US).