Parkinson’s disease market set to hit $3.2 billion by 2021 as search for cure continues
GBI Research report says that despite steady market growth, various unmet needs remain and a cure is yet to be found.
While the Parkinson’s disease market is set to expand from $2.1 billion in 2014 to $3.2 billion by 2021, at a moderate Compound Annual Growth Rate (CAGR) of 5.7%, game-changing treatments will not be available for the foreseeable future, according to business intelligence provider GBI Research.
The company’s latest report — Parkinson’s Disease Therapeutics in Major Developed Markets to 2021: Early Pipeline Shifts Towards Disease-Modifying Therapies, while Short Term Growth Driven by Long-Acting Symptomatic Treatments — states that Parkinson’s disease market growth will occur despite the patent expiries of several key products during the forecast period. These treatments include Azilect, Neupro, and Stalevo.
Parnjeet Bains, Analyst for GBI Research, says: “New entrants are expected to offset the inevitable generic erosion caused by patent expiries, as drug developers focus their attention on offering easier methods of administration and continuous symptomatic relief.
“For example, four new levodopa formulations are expected to enter the market by 2021, each designed to improve off-episodes in advanced Parkinson’s disease patients by providing continuous drug administration.”
However, despite steady market growth, various unmet needs remain and a cure is yet to be found. As with Alzheimer’s disease, a viable therapeutic target to halt or slow disease progression is currently not in scope due to the fact that underlying mechanisms that cause Parkinson’s disease are not fully understood.
Bains explains: “Most pipeline drug development programs are in their early stages, with the majority in the preclinical stage. This means that game-changing products are far from being realized, and explains why symptom-relieving therapies will continue to dominate the market through to 2021.”
To combat the vast array of unmet needs in the Parkinson’s disease treatment space, developers are concentrating on disease modification as opposed to mere symptom relief.
“Despite the short-term forecast for Parkinson’s disease patients, the current pipeline is very active, consisting of 365 products and a diverse range of molecular targets. It includes a wide range of innovative approaches, including gene therapies and neuroprotective and neuroregenerative agents, suggesting that more effective drugs may be on the horizon,” the analyst concludes.
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance