Synopsis
A recent report reveals that the global Parkinson’s disease market is set to grow from $3.4 billion in 2023 to $7.9 billion by 2033, with a significant CAGR of 8.9%. Key drivers include new drug pipeline products and rising cases due to an ageing population.Key Takeaways
- Projected growth of the PD market to $7.9 billion by 2033.
- 8.9% CAGR anticipated across key markets.
- Introduction of 10 new pipeline therapies.
- Significant increase in Parkinson's dementia treatment needs.
- Rise in diagnosed and treated cases due to an ageing population.
New Delhi, Feb 4 (NationPress) The worldwide Parkinson’s disease (PD) market is projected to expand from $3.4 billion in 2023 to $7.9 billion by 2033, based on a recent study.
The analysis by data and analytics firm GlobalData indicates that this growth, with a compound annual growth rate (CAGR) of 8.9 percent, will be especially notable in seven key markets: the US, France, Germany, Italy, Spain, the UK, and Japan.
Key factors fueling this growth include the launch of 10 new pipeline products and a rise in the adoption of innovative levodopa delivery techniques.
Additionally, the increasing incidence of Parkinson’s disease due to an ageing demographic in these seven nations is also a significant factor, as noted in the report.
Furthermore, the study anticipates a surge in sales across most existing Parkinson’s drug classes.
In particular, levodopa therapies, catechol-o-methyltransferase (COMT) inhibitors, dopamine agonists, monoamine oxidase B (MOA-B) inhibitors, and Parkinson’s dementia agents are expected to see notable increases.
Among the established drug classes, those aimed at treating Parkinson’s dementia are projected to experience the highest growth, with a CAGR of 24.5 percent throughout the forecast period.
“The management of Parkinson’s dementia consistently ranks as one of the top unmet needs by leading experts and high-volume prescribers. Presently, there is only one medication, rivastigmine, approved for Parkinson’s dementia treatment in these seven countries,” stated Lorraine Palmer, Pharma Analyst at GlobalData.
“Nonetheless, it is expected that two new medications -- Anavex’s blarcamesine and Irlab Therapeutics’s pirepemat -- aimed at Parkinson’s dementia will be introduced by 2033,” added Palmer.
Additionally, the introduction of 10 late-stage pipeline therapies, including two disease-modifying therapies (DMT) and various symptomatic treatments addressing diverse Parkinson’s needs, is projected to generate approximately $3.5 billion in sales by 2033.
The report further emphasizes the escalating incidence of Parkinson’s disease, forecasting diagnosed cases to rise from 2.6 million in 2023 to 3.1 million by 2033 in these seven countries.
The number of treated cases is also expected to grow, from 1.9 million in 2023 to 2.3 million by 2033, reflecting the ageing population within these seven nations.
“The Parkinson’s market is exceptionally dynamic. However, the upcoming decade promises transformative growth. With the introduction and expansion of innovative therapies, especially DMTs and novel mechanisms to tackle Parkinson’s dementia and motor complications, the late-stage pipeline is well-equipped to cater to the needs of an expanding patient population,” concluded Palmer.
