NEW DELHI: The global Parkinson’s disease (PD) market is expected to grow to $7.9 billion by 2033 from $3.4 billion in 2023, according to a report.
The report by data and analytics company GlobalData showed that the growth -- projected to increase at a compound annual growth rate (CAGR) of 8.9 per cent -- will be particularly seen in seven major markets such as the US, France, Germany, Italy, Spain, the UK, and Japan.
Factors driving the growth include the introduction of 10 pipeline products and the increased adoption of novel levodopa delivery methods.
The rising prevalence of Parkinson’s due to the ageing population across the seven countries is also a contributing factor, the report said.
Further, it anticipates an increase in sales across most currently marketed Parkinson’s drug classes.
Specifically, levodopa therapies, catechol-o-methyltransferase (COMT) inhibitors, dopamine agonists, monoamine oxidase B (MOA-B) inhibitors, other antiparkinsonian agents, and Parkinson’s dementia agents.
Among the pre-existing drug classes, the agents targeting Parkinson’s dementia are expected to see the greatest growth with a CAGR of 24.5 per cent during the forecast period.
“The treatment of Parkinson’s dementia is consistently rated one of the highest unmet needs by key opinion leaders and high-prescribers. Currently, there is only one agent, rivastigmine, indicated for the treatment of Parkinson’s dementia within the seven countries, ” said Lorraine Palmer, Pharma Analyst at GlobalData.
“However, it is anticipated that two agents -- Anavex’s blarcamesine and Irlab Therapeutics’s pirepemat -- targeting Parkinson’s dementia will launch by 2033, ” Palmer added.
In addition, the launch of 10 late-stage pipeline therapies -- including two disease-modifying therapies (DMT) and several symptomatic treatments targeting diverse Parkinson’s needs -- will collectively drive an estimated $3.5 billion in sales by 2033.
The report also highlights the growing prevalence of Parkinson’s, with diagnosed cases expected to increase from 2.6 million in 2023 to 3.1 million by 2033 across the seven countries.
The number of treated cases is forecasted to rise in parallel, from 1.9 million in 2023 to 2.3 million in 2033, reflecting the ageing population within the seven countries.
“The Parkinson’s market is extremely dynamic. However, the next decade is promising transformative growth. With the expansion and launch of groundbreaking therapies, particularly DMTs and novel mechanisms of action to address Parkinson’s dementia and motor complications. The late-stage pipeline is well positioned to meet the needs of a growing patient population, ” Palmer said.