LONDON, February 25, 2016 /PRNewswire/ --
A new report from business intelligence provider GBI Research - Parkinson's Disease Therapeutics in Major Developed Markets to 2021 - states that 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%, but the need for a cure will remain.
This market growth will occur despite the patent expiries of several key products during the forecast period, including Azilect, Neupro, and Stalevo.
Analyst Parnjeet Bains 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."
GBI Research also states that in order 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.
Sample pages of GBI Research's report Parkinson's Disease Therapeutics in Major Developed Markets to 2021 are available upon request
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SOURCE GBI Research