Levodopa Market Is Anticipated To Witness High Growth Owing To Growing Burden Of Parkinson's Disease

 

Levodopa Market

The levodopa market comprises drugs that contain levodopa combined with carbidopa as the primary treatment for Parkinson's disease. Levodopa helps replenish dopamine levels in the brain and can help control the symptoms of Parkinson’s such as tremors, stiffness, slowed movement, and impaired balance and coordination. There is an increasing prevalence of Parkinson's disease owing to the rising geriatric population which is boosting the growth of the levodopa market. According to the Parkinson's Foundation, it is estimated that around 60,000 Americans are diagnosed with Parkinson's disease each year.

The global levodopa market size is estimated to be valued at US$ 5.5 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period from 2024 to 2031.

Key Takeaways
Key players operating in the levodopa market are Laboratory Corporation of America Holdings (Covance), IQVIA, Paraxel International Corporation, Syneos Health, PRA Health Sciences, Charles River Laboratoires International Inc. (CRL), Pharmaceutical Product Development (PPD), ICON Public Limited Corporation, Wuxi Apptec, Medpace Holdings, Inc, Medidata Solutions, Inc., Theorem Clinical Research, Pharmaron, Envigo, and Clinipace. These players are focusing on new product launches and approval to strengthen their market presence. For instance, in 2021, Teva Pharmaceuticals received USFDA approval for its generic version of levodopa and carbidopa extended-release capsules to treat Parkinson's disease.

The key opportunities in the Levodopa Market Share include increasing investment in research and development of novel drug delivery formulations to boost bioavailability and reduce dosing frequency. Additionally, there is growing adoption of disease modifying therapies and potential drugs in the pipeline which is expected to provide lucrative growth opportunities for levodopa market players over the forecast period.

The major players are also focusing on the global expansion strategy to tap the high growth opportunities in developing markets. For instance, in 2021, pharmaceutical company Zydus received Indian regulatory approval to market Levodopa and Carbidopa tablets to treat Parkinson's disease in India. Additionally, the demand for levodopa drugs is also increasing in the Asia Pacific region owing to the improving healthcare infrastructure and increasing per capita healthcare expenditure in the region.

Market drivers: The growing elderly population which is more susceptible to Parkinson’s disease and increasing healthcare spending are some key factors driving the growth of the levodopa market. According to the United Nations, the number of people aged 60 years or above is expected to more than double by 2050 and reach around 2 billion.

Market restraints: Some factors restraining the growth of the levodopa market include adverse effects associated with long term

use of levodopa drugs such as dyskinesia which can lead to uncontrolled muscle movements. Additionally, high treatment costs and lack of disease modifying drugs are also challenging the market growth.

Segment Analysis
The levodopa market comprises of different segments such as carbidopa-levodopa, entacapone, and various other levodopa combination drugs. Among these, the carbidopa-levodopa segment dominates the market accounting for over 80% market share owing to its effectiveness in managing motor symptoms of Parkinson's disease and also no major side effects. Levodopa is combined with carbidopa to increase its effectiveness and reduce side effects. This combination is considered gold standard treatment for motor symptoms of Parkinson's disease.

Global Analysis
Regionally, North America holds largest share of levodopa market owing to increasing prevalence of Parkinson's disease and availability of advanced healthcare facilities. The Asia Pacific region is emerging as fastest growing market for levodopa due to growing geriatric population and increasing healthcare spending. Countries like China and India offer huge patient pool and are expected to drive market growth during forecast period. Europe holds second largest share due to large pharmaceutical industry and supportive insurance schemes for Parkinson's disease treatment.

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