Based on the findings of a research report available on Radiant Insights, Inc., the global Parkinson’s disease drugs market is expected to exhibit a strong growth rate over the forecast period (from 2017 to 2021). Cognitive impairment related to Parkinson’s disease includes symptoms such as inability to do voluntary activities, identify objects, and understand words, memory loss, and difficulty in walking. Elderly people present a greater chance of developing this disease. Thus, growing geriatric population base across the globe is anticipated to serve as a key growth driver for the worldwide market.
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Factors such as patent expiry and high costs associated with disease treatment are likely to hinder the market growth in future. Moreover, the market represents a significant number of unmet clinical needs on account of the lack of Disease Modifying Drugs (DMD). At present, the therapeutic approach for disease treatment is led by therapies that focus on offering symptomatic relief. These drugs are designed for the treatment of many other types of neurodegenerative disorders and only offer symptomatic relief to patients with Parkinson’s disease, failing to treat the underlying cause of it.
Nevertheless, lack of curative treatments in the market is one of the key factors responsible for constant research and development. Thus, new product launches and various R&D activities are expected to augment market growth over the forecast period. In addition, a lot of companies, such as International Stem Cell Corp. and SanBio, Inc., are carrying out medical trials for stem cell therapies for disease treatment.
Researchers at the Binghamton University have come up with a drug innovation, called D-512, which is said to not only provide better symptom relief but can limit the development of the disease. The results of a study carried out by the drug developers showed that D-512 was more effective as compared to ropinirole in treating disease symptoms. The researchers also noted that the new drug may have fewer adverse effects than current drugs.
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Based on region, the market is divided into North America, Asia Pacific, and Europe. North America held a considerable market share in the past. This growth is attributed mainly to presence of advanced treatment technologies, high prevalence of the disease, and good reimbursement policies in the region. The Europe Parkinson’s disease drugs market is also expected to witness healthy growth over the next few years.
Growing burden of Parkinson’s disease management on various healthcare systems in major economies, such as United Kingdom, is stimulating the efforts of government bodies to boost the pace of disease therapeutics R&D. Thus, growing R&D efforts by various governments as well as many key players in the Europe region is estimated to fuel the growth of the regional market over the next few years.
Some of the key companies operating in the worldwide Parkinson’s disease drugs market are Salix Pharmaceuticals, Inc.; Orion Corp.; Impax Laboratories, Inc.; Teva Pharmaceutical Industries Ltd.; GlaxoSmithKline PLC; and Novartis International AG.
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