Northrook, IL -- (SBWIRE) -- 12/13/2019 -- Parkinson's disease treatment is used to treat the symptoms of Parkinson's disease, generally, medication is the first-line treatment for this disease. Rising geriatric population and government funding for research on Parkinson's disease are the driving factors for this market. The major driving factors for this market include an ageing population and government funding for research, growing healthcare awareness.

What the Market Looks Like?

Predicted to grow at a CAGR of 6.1% during the forecast period, the global Parkinson's Disease Treatment Market is estimated to reach USD 5.69 Billion by the end of 2022

Parkinson's disease treatment market is segmented on the basis of drug class, distribution channel, patient care setting, and region. On the basis of drug class, the market is segmented into carbidopa/levodopa, dopamine receptor agonists, MAO-inhibitors, COMT-inhibitors, anticholinergics, and other drugs. The carbidopa/levodopa segment is expected to account for the largest share of the market in 2017. The growth in this segment is primarily attributed to the potency of the drug.

By distribution channel, the market is segmented into hospital pharmacies, retailer pharmacies, and online pharmacies. In 2017, the hospital pharmacies segment accounted for the largest share of the market. An increasing number of patient visits to the hospital due to the availability of diagnostic laboratories and the presence of skilled neurologists are driving the growth of the hospital pharmacies segment.

Presence of skilled professional in the hospital care setting drives the growth of Parkinson's disease treatment market

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Hospital

The hospital's segment is estimated to account for the largest share of the Parkinson's disease treatment market in 2017. This segment includes large, medium-sized, and small hospitals as well as critical care centers. Growth in this market can largely be attributed to the patient visits to hospitals are very high owing to the availability of diagnostic laboratories for diagnosing diseases; and the presence of skilled professionals.

Clinics

Clinics, also known as outpatient clinics or ambulatory care clinics, are healthcare facilities where outpatients are treated. In comparison with hospitals, clinics are expected to hold a smaller share of the overall market in the coming years mainly due to the shortage of neurologists in these facilities. In addition, most clinics do not have in-house diagnostic laboratories, owing to which most patients prefer hospitals.

What Drives the Market?

The growth of the global market for Parkinson's Disease Treatment is primarily influenced by the following factors:

- Growth in Aging Population and the Associated Increase in the Prevalence of Parkinson's Disease
- Government Funding for Research

Currently, a wide range of treatments is available for alleviating the symptoms of Parkinson's disease. Medication is the first-line therapy for treating the disease; however, they are not effective in all stages of the disease. In the severe stages, medications do not show pharmacological action in relieving disease symptoms. Neurologists perform thalamotomy, pallidotomy, or implant deep brain stimulation (DBS) devices in order to ease symptoms.

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Geographical growth scenario of Parkinson's Disease Treatment Market

Geographically, Parkinson's disease treatment market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The market is dominated by Europe, followed by North America, however, the Asian region is expected to witness the highest growth during the forecast period. Asia is expected to witness the highest CAGR, with the growth in this market centered at Japan, China, and India. The increasing number of generic drug manufacturers and rising aging population across are key factors driving the market in Asia. However, the availability of alternative treatments is going to restrain this market.

Leading market players and strategies adopted

Teva (Israel), AbbVie (US), Boehringer Ingelheim (Germany) Lundbeck (Denmark), Acadia (US), Sun Pharma (India), US WorldMeds (US), Dr. Reddy's (India), are the top players in this market.

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