The Levodopa Market Is Driven By Rising Incidence Of...

The Levodopa Market Is Driven By Rising Incidence Of Parkinson's Disease

Posted 2024-05-30 14:59:17

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The Levodopa market has been witnessing steady growth over the past few years. Levodopa, commercially known as L-DOPA, is an amino acid that acts as an important neurotransmitter in the brain. It is primarily used for the treatment of Parkinson's disease. Parkinson's disease occurs due to degeneration of neurons in a specific area of the brain that controls movement. This leads to symptoms like shaking, stiffness, and difficulty with walking, balance, and coordination. Levodopa helps in replenishing dopamine levels and controls Parkinson's disease symptoms. It is typically taken along with a dopa decarboxylase inhibitor like carbidopa to reduce side effects.

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 Demand 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. The increasing incidence of Parkinson's disease globally is driving the demand for Levodopa. According to the Parkinson's Foundation, over 10 million people worldwide suffer from Parkinson's disease, with around 60,000 new cases identified annually in the US alone. The disease can occur at any age but usually affects people over 60 years of age. The rising geriatric population, improved diagnostic methods, and higher life expectancy are fueling the growth of the Levodopa market.

Key players are focusing on research and development activities to develop new combination therapies and formulations to expand the indications of Levodopa. For instance, in 2020, Dopamine Transporter Imaging agents were approved for Parkinson's disease diagnosis. These agents help detect nigral dopamine neuron damage in Parkinson's disease patients. Additionally, companies are expanding their production facilities and global footprint to cater to the growing demand. For example, in 2022, Novelion Therapeutics announced expanding the manufacturing capacity of its plant in Portugal to increase drug supply for Europe and other markets.

Market Drivers

The key driver fueling the Levodopa market growth is the rising incidence of Parkinson's disease globally. As per estimates, around 6.1 million new Parkinson's disease cases are reported worldwide each year. The risk of developing the disease increases with age. Thus, with a rapidly growing geriatric population, the cases of Parkinson's disease are expected to surge significantly in the coming years. Additionally, improved diagnostic methods and medical infrastructure are enabling better diagnosis of Parkinson's disease cases. As Levodopa remains the standard first-line treatment for the disease, its demand will continue witnessing steady gains with rising Parkinson's prevalence. Other factors like increasing health expenditure, medical insurance coverage, and awareness regarding treatment options are also contributing to the market growth.

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