The Brazil Parkinson’s Disease Drugs Market size was valued at USD xx billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of xx% from 2019 to 2028.
Parkinson’s disease (PD) is a nervous system disorder that increases in severity with time. It is the second most common neurodegenerative disease among the elderly, preceded only by Alzheimer’s disease. Symptoms include sluggish muscle movements and tremors. Parkinson’s disease affects around 200 thousand people in Brazil, whose quality of life can be improved by proper treatment, even though there’s no cure for the disease.
If, in the 1950’s, we observe a pyramid representing age group graphs of Brazil, the trend for 2060 is that it will be a rectangle. This means that in Brazil, individuals aged over 60 years are increasing with time, and will account for approximately 33.7% of the entire population by the end.
Growing aging population coupled with increasing prevalence of Parkinson’s disease and the most crucial factor for market growth in the country. Other than age, government initiative regarding availability of drugs in market has led to increasing number of drug approvals and growing funding in R&D. Growing awareness among the population is another primary factor of market growth
However, some restraints like availability of alternative treatments, expiry of patents is expected to hold back market. High cost of treatment such as US$5,853.50 per person restricts the market growth.