The China Parkinson’s disease drug market size stood at around USD XX billion in 2019 and is projected to reach USD 1.99 billion by 2028, exhibiting a CAGR of XX% during the forecast period.
China is a multi-ethnic developing country with the largest population of the world, is stepping into an aging era. It is estimated that nearly 23.9–26.9% of the population will be over 65 years old in 2050, due to a surge of aging population. As a result, the population of neurodegenerative disease will increase as along and probably bring a huge burden to Chinese economics and healthcare system. It is estimated that by 2030, Chinese Parkinson’s disease (PD) patients will increase to 4.94 million, accounting for a half of the worldwide PD patients.
The continuously increasing aging population coupled with increased prevalence of Parkinson’s disease are the major factors boosting the growth of Parkinson disease treatment market in china. The development of innovative and novel treatment methods along with the growing popularity of minimal invasive surgeries among the people is propelling the growth of this disease market. Increasing focus on the R&D activities by the market players owing to the immense advancement in the healthcare will also boost the market. Also, PD insurance has been covered by major disease insurance from Chinese government insurance system since 2007. Due to this policy, the economic burden of families with PD patients has been relieved significantly and results in an active participation in treatments.