Market Trends of Global Parkinson's Disease Drugs Industry
This section covers the major market trends shaping the Parkinson's Disease Drugs Market according to our research experts:
MAO-B inhibitors Segment is Expected to Dominate the Market Over the Forecast Period
The human body's Monoamine Oxidase Type B (MAO-B) enzyme degrades dopamine and other substances in the brain. More dopamine is accessible for the brain to use when an MAO-B inhibitor, a medicine, is administered and numerous Parkinson's Disease (PD) motor symptoms can be mildly improved by this. Thus, the MOA-B inhibitors are recently used for the treatment of PD. This is expected to boost the segment growth over the forecast period.
The article 'Long-term Effectiveness of Adjuvant Treatment With Catechol-O-Methyltransferase or Monoamine Oxidase B Inhibitors Compared With Dopamine Agonists Among Patients With Parkinson's Disease Uncontrolled by Levodopa Therapy' published in December 2021 stated that when a study was conducted among 500 patients, monoamine oxidase type B (MAO-B) inhibitors showed superior results compared to catechol-O-methyltransferase (COMT) inhibitors in the treatment of Parkinson's symptoms that are insufficiently managed by levodopa.
In addition, another research article 'KDS2010, a Newly Developed Reversible MAO-B Inhibitor, as an Effective Therapeutic Candidate for Parkinson's Disease' published in October 2021 stated that Monoamine oxidase-B (MAO-B) is an established Parkinson's disease therapy target (PD) and selegiline and rasagiline are few examples of irreversible MAO-B inhibitors that are frequently recommended to PD patients. While these medications delay the need for levodopa-based dopamine replacement therapy and cause relatively low side effects, multiple investigations have revealed that they have limited genuine neuroprotective potential. Such research to find the MOA-B inhibitor's effectiveness for PD is expected to fuel the growth of the segment.
Furthermore, the article 'Monoamine Oxidase-B Inhibitors for the Treatment of Parkinson's Disease: Past, Present, and Future' published in February 2022 stated that Parkinson's disease symptoms are typically treated with monoamine oxidase-B (MAO-B) inhibitors (PD). Early-stage Parkinson's disease has been successfully treated with MAO-B inhibitor monotherapy, while advanced stages of the disease have been successfully treated with MAO-B inhibitors as adjuvant medications. Thus, owing to the research and development, segment growth is expected.
Therefore, the above-mentioned factors attribute to the growth of the segment over the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
North America is likely to witness a high growth rate in the Parkinson's disease (PD) drugs market during the forecast period. Within North America, the United States holds a significant share of the market, and it is expected to dominate over the forecast period. This can be attributed to the factors such as high healthcare expenditure, the strong presence of major market players, frequent product approvals, and an increase in Parkinson's disease cases.
The data provided in the article 'The Financial Burden from Parkinson's Exacts a High Cost' published in September 2021 shows that in the United States, an estimated 1 million people have Parkinson's disease, and more people are diagnosed with it every year, among which the prevalence is more among people of age 65 years or older. As per the source above, the prevalence of PD also has increased among people younger than 65. Additionally, the data updated by Parkinson Canada's National Roundtable Report in March 2022 shows that in Canada, more than 100,000 people have PD, and this number will grow in the coming days reaching 50 new diagnoses every day within 10 years. Thus, the high burden of the disease among the target population of the countries across North America is anticipated to create demand for the development of drugs for the treatment. Thereby, driving the market growth.
Furthermore, major players are taking strategic steps which are enhancing the market growth in the region. For instance, in December 2021 the company UCB announced the commercialization agreement with Novartis covering UCB0599 with an opt-in to develop UCB7853 which are two innovative and potentially disease-modifying investigational assets in Parkinson's disease. Additionally, in May 2022, AbbVie Inc. submitted a New Drug Application (NDA) Food and Drug Administration (FDA) for ABBV-951 (foscarbidopa/foslevodopa) for the treatment of motor fluctuations in patients with advanced PD. Thus, these advances are anticipated to drive market growth in the region over the forecast period.
Moreover, owing to the increasing cases of the disease in the country, there have been frequent product approvals by the FDA in the United States and other countries in the region. Such as, in February 2022, the first and only carbidopa/levodopa (CD/LD) fractional tablet that is intended to be divided, DHIVY, has been commercially released by Avion Pharmaceuticals, LLC, a division of Alora Pharmaceuticals. In November 2021, Avion received FDA approval for DHIVY, which is used by people with Parkinson's Disease (PD), the fastest-growing neurological illness in the United States and one of the diseases for which there is presently no cure. Such approvals by FDA are predicted to contribute to the market growth over the analysis period.
Therefore, owing to the aforesaid factors the market is anticipated to witness growth in the region over the forecast period.
