by Market Overview:
Levodopa is an amino acid used to treat Parkinson’s disease. It works by restoring the chemical balance in the brain and helps control Parkinson’s symptoms like tremors, stiffness, slowed movement, and impaired balance and coordination.
Market key trends:
One of the key trends in the levodopa market is the growing preference for controlled-release and extended-release formulations. These formulations provide more consistent plasma levels of the drug compared to immediate-release formulations, leading to better management of motor fluctuations in advanced Parkinson’s disease. These formulations have benefits like fewer dosage requirements during the day, better control of symptoms throughout the day, and improved patient adherence. Other advantages of controlled-release levodopa include reduced “off” time and improved “on” time without troublesome dyskinesia.
The Global Levodopa Market Demand is estimated to be valued at US$ 4.77 Bn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Levodopa is considered the gold standard for treating Parkinson’s disease symptoms such as tremors and muscle rigidity. It effectively reduces Parkinson’s disease motor symptoms.
Weakness: Long-term use of levodopa can cause motor complications such as dyskinesia. Side effects such as nausea are also common with levodopa treatment.
Opportunity: Rising prevalence of Parkinson’s disease presents an opportunity for levodopa market growth. According to estimates, over 10 million people globally suffer from Parkinson’s disease.
Threats: Emergence of alternative treatment options like deep brain stimulation poses a threat to levodopa market potential. High treatment costs associated with Parkinson’s disease management also restrict market growth.
Key Takeaways
The global levodopa market is expected to witness high growth, exhibiting CAGR of 3.4% over the forecast period, due to increasing prevalence of Parkinson’s disease. Parkinson’s disease prevalence is rising globally due to aging population and increasing environmental risk factors.
Regional analysis: North America dominates the global levodopa market and is expected to continue its dominance over the forecast period. This is attributed to growing Parkinson’s disease burden, rising healthcare spending, and availability of advanced treatment options in the region. According to estimates, over 1 million Americans suffer from Parkinson’s disease currently.
Key players operating in the levodopa market are Abbott Laboratories, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Mylan N.V., Par Pharmaceutical, Inc., Apotex Inc., Sandoz AG, Dr. Reddy’s Laboratories Ltd., Accord Healthcare Ltd. Rising levodopa demand has encouraged these players to enhance production capacities and strengthen their distribution networks worldwide.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
