Market Challenges And Opportunities
Global Parkinsons Disease Therapeutics Market– Drivers
- Increasing launches of drugs for Parkinson’s disease treatment: Market players are indulged in launching new drugs for the treatment of Parkinson’s Disease treatment. This is expected to drive the growth of the global Parkinsons disease therapeutics market over the forecast period. For instance, in the year 2021, Eisai Korea Inc., Eisai Co., Ltd. Eisai’s subsidiary in South Korea, launched the Parkinson’s disease treatment Equfina (safinamide mesilate, “safinamide”). This is the first launch of Equfina in the Asian region, excluding Japan.
- Robust pipeline of new drugs for Parkinsons disease: A robust pipeline of new drugs in development for Parkinson’s disease is expected to propel the global Parkinson’s disease therapeutic market growth over the forecast period. For instance, in October 2021, according to Vanderbilt University, drug candidate mGlu4 PAM AP-472 for Parkinson’s disease entered phase 1 clinical trials. The clinical trial was initiated by Appello Pharmaceuticals Inc., a clinical-stage therapeutics company focused on searching for innovative early-stage drug candidates for patients with Parkinson’s disease. The mGlu4 PAM AP-472 is designed to operate in conjunction with an existing Parkinson's disease medication, levodopa.
Decline in drug approval by the regulatory authorities: There has been an increase in the number of cases and a decline in the number of product approvals from the regulatory authorities, and this is expected to hamper the growth of the global Parkinsons disease therapeutics market over the forecast period. For instance, on July 3, 2023, the U.S. Food and Drug Administration (FDA) declined to approve the drug designed by Amneal Pharmaceuticals, a publicly traded generics and specialty pharmaceutical company, in order to help control symptoms in Parkinson's disease patients for a longer duration, citing inadequate safety data. The regulatory authority has issued more data with regards to the safety of one of the ingredients, carbidopa, used in the drug, even though some studies have demonstrated the safety of the other component, levodopa. The agency has not identified efficacy or manufacturing issues with the treatment. The decision will likely delay the launch until at least the first half of 2024.
Global Parkinsons Disease Therapeutics Market: Restraint
- Decline in drug approval by the regulatory authorities: There has been an increase in the number of cases and a decline in the number of product approvals from the regulatory authorities, and this is expected to hamper the growth of the global Parkinsons disease therapeutics market over the forecast period. For instance, on July 3, 2023, the U.S. Food and Drug Administration (FDA) declined to approve the drug designed by Amneal Pharmaceuticals, a publicly traded generics and specialty pharmaceutical company, in order to help control symptoms in Parkinson's disease patients for a longer duration, citing inadequate safety data. The regulatory authority has issued more data with regards to the safety of one of the ingredients, carbidopa, used in the drug, even though some studies have demonstrated the safety of the other component, levodopa. The agency has not identified efficacy or manufacturing issues with the treatment. The decision will likely delay the launch until at least the first half of 2024.
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