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Aug. 25, 2021, 11:28 p.m. EDT

Parkinson Disease Therapeutics Market Outlook 2021-2027 By Industry Players

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Aug 25, 2021 (Market Insight Reports) -- Delaware, U.S. - Growing funding in clinical research and development activities is projected to push the Parkinson's disease therapeutics market growth over time. Lack of knowledge and awareness among people regarding Parkinson's disease can potentially cause an increase in patient count. The unawareness posed barriers to early diagnosis and provision of optimal care to affected patients has led to the commencement of many awareness programs.

"World Parkinson's Day" is devoted to driving new examination and treatment initiatives, increasing consciousness related to Parkinson's disease. Such agendas have amplified the requirement and manufacturing of efficient therapeutics for this condition. Thus, the above-mentioned factors will significantly propel the market growth in the coming years. The Parkinson's disease therapeutics market is projected to surpass USD 8.0 billion by 2027, cites a report published by GMI

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As per a report, in the year 2020, the Parkinson's Foundation financed around USD 3.5 million around 34 research grants to support the work of promising scientists in the field of Parkinson's disease (PD). Intensifying funding in research and development has constantly boosted the developments in the treatment of Parkinson's disease.

Funding opportunities provided by the Parkinson's Disease Biomarkers Program (PDBP) support discovery program for potential treatments, while funds raised by the Michael J. Fox Foundation helps the clinical, basic, and translational research from academia & industry projects to promote the identification of progression and diagnostic biomarkers for Parkinson's disease.

Thus, the rising funding availability in the R&D sector for the invention of different therapies is enhancing the demand and supply of Parkinson's disease therapeutics, thereby suggestively furthering the market growth in the coming years.

The Parkinson's disease therapeutics market of Brazil accounted for the highest market share in the year 2020. Brazil was the highest shareholder due to growing cases of Parkinson's disease in the region, and substantial fiscal & infrastructure expansion in the country. Brazil has a unique research sector in biotechnology and pharmacology which is always supported by a defined government for focusing on various diseases. Reports state that the Brazil Parkinson's disease therapeutic industry was valued at more than USD 90 million in 2020.

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Key players and competitors operating in this niche are constantly focusing on strategic acquisitions to support new product launches, capture more market share and strengthen revenue generation.

Some of these firms include UCB, Orion Corporation, Acadia Pharmaceuticals, Amneal Pharmaceuticals, Roche, AbbVie Inc., Teva Pharmaceutical among others. These players have executed several strategic initiatives and innovative product launches to maintain a competitive edge in the market.

COMTEX_392215327/2599/2021-08-25T23:28:00

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