The global Parkinson’s Disease Therapeutics Market was valued at US$ 2.18 Bn in 2016 and is projected to register a cumulative annual growth rate (CAGR) of more than 10.9% from 2017 to 2025, according to a new report titled “Parkinson’s Disease Threapeutics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025” published by Transparency Market Research (TMR) (. The report states that high prevalence of Parkinson’s disease, rise in geriatric population across the globe, increase in funding for clinical research and grants, etc. are expected to spur the growth of the Parkinson’s disease therapeutic drugs during the forecast period, i.e. 2017 to 2025.
North America and Europe are projected to dominate the global Parkinson’s disease therapeutics market in the near future, primarily due to the large base of aging population, high clinical R&D budget to address the unmet needs of Parkinson’s disease, and increase in awareness regarding the disease in these regions. Europe is estimated to dominate the global Parkinson’s disease therapeutics market by the end of 2025, which can be ascribed to the high prevalence and rise in incidence rate of Parkinson’s disease in the developed countries in the region such as Germany, France, the U.K., and Italy, promising product pipeline, and various initiatives undertaken by the government and non-profit organizations to promote awareness regarding the disease. The Parkinson’s disease therapeutics market in Europe is expected to witness the highest CAGR of more than 11.0% from 2017-2025.
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Parkinson’s disease is a highly prevalent age-related neurodegenerative disorder, affecting millions of people worldwide and causing severe impact on their physical, psychological, as well as emotional health. The exact cause of Parkinson’s disease is not known. It is largely prevalent among the geriatric population. Classifying by gender, men are one-and-half times more affected by the disease than women. According to the Parkinson’s Foundation based in the U.S., it is estimated that worldwide around 7 to 10 million people are affected by Parkinson’s disease and around 1 million Americans are living with it.
However, the exact number of patients suffering from Parkinson’s disease is known due to incompleteness and inconsistency in the prevalent studies and underdiagnosed cases. According to the Global Burden of Disease Study, it is estimated that around 13 million people will be affected by Parkinson’s disease worldwide by the year 2040. China has the world’s largest population affected with Parkinson’s disease, which is an estimated 2.5 million people, and the number is likely to become double by the end of 2030, accounting for half of the world’s population suffering from the disease. The rapidly growing geriatric population, coupled with high prevalence and increasing incidence rate of Parkinson’s disease in the developed countries, is projected to a key driving factor of the Parkinson’s disease therapeutics market during the forecast period.