The Global Parkinson’s disease drugs market size stood at USD 2.95 billion 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Parkinson’s is a neurodegenerative disease which primarily affects the human brain parts, making it difficult for the person to function or perform daily routine. People suffering from Parkinson’s cannot produce enough dopamine, which leads to stiffness, tremors, walking problems, among others. This disease can become severe if not treated on time. This severity can result in increasing demand for Parkinson’s disease treatment
As per Parkinson’s Disease Foundation, around 10 million people across the world are suffering from Parkinson’s disorder. According to Medical News Today, aggression can be toxic to Parkinson’s patients. Consequently, researchers at Purdue University have found that a protein called HYPE can reduce this aggression and help patients to fight this disease
Market Drivers and Restraints
Global Parkinson’s disease Treatment Market is mainly driven by growing prevalence of Parkinson’s disease and government funding for research on Parkinson’s disease. The increase in number of geriatric population and technological advancements such as combination therapies for prolong action of continuous dopaminergic stimulation drugs, gene therapy, neural transplantation are few other causes which are possible to boost the Parkinson’s disease Treatment market. However, some restraints like availability of alternative treatments are expected to hold back market and expiry of patents for several drugs such as Stalevo, Azilect, Rytary, Comtan etc. can cause the termination of Parkinson’s disease Treatment market. High cost of treatment such as 14.4 Billion USD and lack of expertise for early diagnosis is likely to restrict the market growthAlso lack of novel and successful therapies in the market to reduce the risk of mortality restraints for this market. The opportunities for Global Parkinson’s disease Treatment market includes upcoming technologies like surface EMG (Electromyography) sensors, Pulse oximetry sensors, development in personalized medicine along with huge investment in anti-Parkinson’s drugs research will boost the global Parkinson’s disease Treatment market. Also, development of novel drugs and combination therapy with less side effects and better survival rates is expected to increase the global Parkinson’s disease Treatment market