Indian Parkinson’s Disease Drugs Market size stood at USD XX Billion in 2019 and is projected to reach USD XX Billion by 2028, exhibiting a CAGR of XX% during the forecast period.
Parkinson’s disease is the second most common neurodegenerative disorder after Alzheimer’s disease in India. India has 7 million elders afflicted with Parkinson’s. Treatment options available for Parkinson’s Disease include medication and surgery to manage its symptoms. Parkinson’s disease affects 1 in every 500 people in India. More than 25 people are diagnosed with Parkinson’s every day. The prevalence rate over the age of 60 years was 247/100,000, a low prevalence rate of 27/100,000 was reported from Bangalore, in the southern part of India, and 16.1/100,000 from rural Bengal, in the eastern part of India. An increasing account of the geriatric population and continuously growing patient base are likely to boost the demand for Parkinson’s drugs and expand growth opportunities for the stakeholders in the Indian market.
Growth in ageing population and the associated increase in the prevalence of Parkinson’s disease as well as government funding for research and the increasing cases of Parkinson’s disease, along with the growth in the aging population are major factors contributing towards the growth of Parkinson’s disease market in India. Pharmaceutical firms are developing new and improved therapies for Parkinson’s disease (PD), increasing awareness among the people regarding healthcare, the availability of key market players, and an increasing number of manufacturers, the patent expiration of many prominent drugs is foreseen to create lucrative opportunities for the key players in the market.