Parkinson’s Disease Market Report and Forecast 2024-2032

Parkinson’s Disease Market Size 

The Parkinson’s disease market was valued at USD 3.5 billion in 2023 driven by the increasing geriatric population and disease awareness across the 8 major markets. The market is expected to grow at a CAGR of 5.10% during the forecast period 2024-2032 and attain a market value of USD 5.4 billion by 2032.

Parkinson’s Disease Market Outlook 

• Nearly 1 million people in the United States have Parkinson's disease, the number projected to increase to 1.2 million by 2030. The rising incidence of the disease is expected to impact the market value significantly in the forecast period.

• Increasing drug approvals by the regulatory authorities are amongst major market trends. In August 2024, the FDA approved Crexont, a new long-acting oral medication by Amneal Pharmaceuticals for Parkinson's disease.

• In February 2024, NHS in England offered a new Parkinson's treatment, Foslevodopa-foscarbidopa (Produodopa). This therapy involves a pump delivering continuous medication through a syringe under the skin. Technical advancements in drug administration are expected to boost market growth.

Parkinson’s Disease Market Overview

Parkinson's disease is a gradually worsening condition marked by the deterioration of nerve cells in the substantia nigra of the brain, predominantly impacting movement. Motor symptoms consist of tremors, slow movement, rigidity, and postural instability, whereas non-motor symptoms might involve cognitive impairment, mood disorders, sleep disturbances, and autonomic dysfunction. These symptoms can have a significant effect on the quality of life of a patient. The burden on caregivers is also substantial because of the progressive nature of the disease. The reason for Parkinson's is still unclear, but it is considered that environmental factors and genetic predisposition are the factors involved. Deterioration of neurons that produce dopamine in the substantia nigra, is considered the primary issue, as it results in the development of Lewy bodies in the brain.

Identifying Parkinson's disease is challenging because there is no conclusive test available. For a precise diagnosis, it is suggested to combine symptoms, tests, and a consultation with a specialist in movement disorders, particularly during the initial phases. Medical history, as well as physical and neurological examinations, are employed, occasionally alongside MRI scans. DaTscan and advanced neuroimaging techniques are employed to validate the presence of Parkinson's disease by evaluating dopamine levels and distinguishing it from other conditions. PET and SPECT, when utilizing a dopamine transporter ligand, are the most effective methods for evaluating dopamine depletion. In general, accurate diagnosis of Parkinson's disease requires a knowledgeable clinician and a thorough approach to prevent misdiagnosis.

Parkinson's disease treatment includes levodopa, dopamine agonists, MAO-B inhibitors, COMT inhibitors, amantadine, and anticholinergics. The main goal is to lessen motor symptoms in patients. In addition, therapies like deep brain stimulation, physical therapy, and speech therapy are recommended. Levodopa is the gold standard but is often used in combination.

Parkinson’s Disease Market Growth Drivers

Increased Prevalence of Parkinson’s Disease Spurs Market Growth

The increasing incidence of Parkinson's disease is having a significant effect on the market, fueled by the growing elderly population. Nearly 1 million people in the United States have Parkinson's disease. This number is projected to increase to 1.2 million by 2030. It is the second most common neurodegenerative disease after Alzheimer's. Around 90,000 new PD cases are diagnosed annually. This has resulted in an increased need for medical care and treatments, leading to the creation of new therapy and support choices.

Medical Technology Advancements to Fuel the Parkinson’s Disease Market Demand 

In February 2024, NHS in England offered a new Parkinson's treatment, Foslevodopa-foscarbidopa (Produodopa). Approved by NICE in 2023, this therapy involves a pump delivering continuous medication through a syringe under the skin. It provides constant symptom relief, reduces pill burden, and allows patients to administer additional doses for better control over their condition. Medical technology improvements are transforming the market through better accuracy in diagnosis and enhanced effectiveness in treatment. Advancements such as cutting-edge imaging, portable sensors, and artificial intelligence are enhancing early identification and customized treatment strategies. Improved high-resolution imaging enhances the ability to see brain structures more clearly, leading to accurate diagnoses and focused treatments.

Parkinson’s Disease Market Trends 

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Rising Research and Innovation Initiatives

The continued focus on comprehending the disease mechanisms and developing novel treatments is a notable market trend. Improvements in drug development, such as targeted therapies and biologics, are enhancing the effectiveness of treatments. The goal of studying neuroprotective agents and regenerative medicine is to decelerate or even revert the advancement of diseases. Genomics and personalized medicine enable customized treatment plans according to genetic profiles, leading to market expansion and improving patient care.

Emergence of Disease-Modifying Therapies

The market is transforming due to the establishment of disease-altering medications that target slowing down the advancement of the disease, as opposed to conventional symptom-controlling treatments. New developments involve medications that focus on pathways of neurodegeneration and creative gene treatments for fixing injured neurons.

Growing Patient and Caregiver Awareness

Increased awareness among patients and caregivers is influencing the market, resulting in a higher need for comprehensive care and advanced treatments. Patients are actively searching for novel treatments and diagnostic tools, whereas caregivers are increasingly responsible for overseeing care and pushing for improved resources.

Rising Investment in Emerging Therapies

The market is expanding with increased investment in new treatments for Parkinson’s disease. Funding for the advancement of cutting-edge treatments, such as gene editing and cell therapies, is being offered by both the public and private sectors. Venture capital firms, pharmaceutical companies, and government agencies are making substantial investments in promising therapeutic methods, resulting in quicker clinical trials and enhanced research infrastructure. This increase in funding is essential for improving patient results and tackling market gaps. It is approximated that Parkinson's disease costs about USD 52 billion each year in the United States, including expenses for treatment, social security assistance, and income loss.

Parkinson’s Disease Market Segmentation

Market Breakup by Drug Class

• Carbidopa

• Dopamine 

• MAO-Inhibitors 

• COMT-Inhibitors 

• Anticholinergics 

• Others

Market Breakup by Route of Administration

• Oral

• Parenteral

• Topical

Market Breakup by End User

• Hospitals

• Homecare Settings

• Specialty Centers

• Others

Market Breakup by Distribution Channel

• Hospital Pharmacies

• Independent Pharmacies 

• Online Pharmacies 

• Others

Market Breakup by Region 

• United States

• EU-4 and the United Kingdom 
  • Germany 
  • France 
  • Italy 
  • Spain 
  • United Kingdom

• India

• Japan

Parkinson’s Disease Market Share

Market Share Based on Distribution Channel to Witness Growth

Based on the distribution channels, the market is segmented into hospital pharmacies, independent pharmacies, online pharmacies, and others. Hospital Pharmacies are expected to dominate the market as they play a vital role in treating severe instances and providing tailored care for Parkinson's disease. Their essential role in disease management, particularly for advanced stages and their expertise in offering professional guidance boosts the market value of this segment.

Parkinson’s Disease Market Analysis by Region

Based on region, the market report covers the United States, EU-4 (Germany, France, Italy, Spain), United Kingdom, India, and Japan.

The United States is expected to dominate the market share due to a solid healthcare system and generous research funding. The nation excels in creating innovative treatments and advancements, particularly in the field of personalized medicine. High spending on healthcare enables individuals to receive advanced treatments and specialized care, which results in continual progress in managing diseases.

The EU-4 and UK are also poised to hold a significant share driven by the presence of various healthcare systems and treatment access, encountering difficulties from increasing disease prevalence and aging populations. Substantial R&D investments are focused on enhancing patient results, which promotes innovation and the development of novel treatments.

The market is expanding in Japan and India, driven by an increase in the number of patients and advancements in healthcare. Japan provides top-notch healthcare services and cutting-edge treatments, whereas India is advancing in the field of medical research. Both nations are improving diagnostic tools and treatment options, making significant investments in research and patient care, and incorporating new technologies to fuel ongoing advancements.

Leading Players in the Parkinson’s Disease Market

The key features of the market report include patent analysis, clinical trials analysis, grant analysis, funding, and investment analysis as well as strategic initiatives by the leading players. The major companies in the market are as follows:

Teva Pharmaceutical Industries Ltd. 

Teva Pharmaceutical Industries Ltd specializes in generic and specialty medicines, focusing on the central nervous system, cancer, respiratory, dermatology, women's health, and other diseases. It was established in 1944 and is located in Tel Aviv-Yafo, Israel. In October 2021, Teva announced a strategic collaboration with MODAG GmbH for the licensing and development of anle138b and sery433, targeting alpha-synuclein oligomers in neurodegenerative diseases.

Novartis AG 

Novartis is a healthcare company focused on developing and marketing prescription pharmaceuticals and eye care products. They offer treatments for cancer, cardiovascular diseases, skin conditions, neurological disorders, and more. In December 2021, Novartis partnered with UCB to develop disease-modifying therapies for Parkinson’s Disease, including a potential first-in-class inhibitor and an anti-alpha-synuclein antibody in clinical trials.

AbbVie Inc 

AbbVie Inc. is a biopharmaceutical company that develops drugs for chronic diseases like metabolic, neurological disorders, and cancer. It is also working on treatments for Parkinson's disease and other autoimmune diseases. In January 2024, AbbVie launched PRODUODOPA® in the EU for advanced Parkinson's disease with severe motor fluctuations and dyskinesia when other treatments are ineffective.

Zydus Cadila

Indian biotechnology company Zydus Cadila Healthcare Limited is based in Ahmedabad. In December 2023, the company received US FDA approval to begin Phase II clinical trials for their novel oral small molecule NLRP3 inhibitor, ZYIL1, for Parkinson's disease. ZYIL1 has shown promising potency in suppressing inflammation from NLRP3 inflammasome activation.

Other players in the market are Acadia Pharmaceuticals Inc., Boehringer Ingelheim International GmbH, Dr. Reddy Laboratories, GSK plc, H. Lundbeck A/S, Sun Pharma, and UCB S.A.

Key Highlights of the Report

Key Questions Answered in the Parkinson’s Disease Market Report

• What was the Parkinson’s disease market value in 2023? 
• What is the Parkinson’s disease market forecast outlook for 2024-2032? 
• What are the regional markets covered in the EMR report?
• What is market segmentation based on drug class? 
• What is market breakup based on the route of administration? 
• Who are the major end users of the market?
• What is market segmentation based on distribution channels? 
• What are the major factors aiding the Parkinson’s disease market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• What are the major drivers, opportunities, and restraints in the market?  
• What are the major trends influencing the market?  
• Which regional market is expected to dominate the market share in the forecast period?  
• Which country is likely to experience elevated growth during the forecast period?  
• Who are the key players involved in the Parkinson’s disease market? 
• What are the current unmet needs and challenges in the market? 
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?