Levodopa Market Is Estimated To Witness High Growth Owing To Increasing Prevalence Of Parkinson's Disease

Levodopa Market


Market Overview:

Levodopa is a medication and neurotransmitter mainly used for the treatment of Parkinson's disease and some other extrapyramidal movement disorders. Levodopa helps relieve many of Parkinson's disease symptoms like rigidity, tremor, slowness of movement and postural instability. It is used to manage Parkinson's symptoms and improve mobility and motor impairments. When taken with carbidopa, levodopa acts directly on the nervous system to increase dopamine levels in the brain. Levodopa is considered the most effective drug to control symptoms of Parkinson's disease.

Market Dynamics:

The growth of the levodopa market is majorly driven by increasing prevalence of Parkinson's disease. Parkinson’s disease is a progressive disorder of the nervous system affecting millions of people worldwide. According to Parkinson's Foundation, around 60,000 Americans are diagnosed with Parkinson's each year. Increasing elderly population is another key factor influencing the market growth as Parkinson's disease is more common in older age groups. Growing healthcare expenditure and improving access to healthcare facilities in developing regions also foster the adoption of levodopa. Additionally, ongoing pipeline developments and new product launches focusing on controlled release levodopa formulations further support the market expansion over the forecast period.

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 the primary drug used in the treatment of Parkinson's disease and has proven efficacy. It provides relief from motor symptoms and improves quality of life. The rising prevalence of Parkinson's disease is expected to drive the demand for levodopa over the forecast period.
Weakness: Levodopa has side effects such as nausea, vomiting, low blood pressure, hallucinations and dyskinesia. These side effects often restrict its usage and require additional medication. Switching to other alternative therapies also poses threats to levodopa revenues.
Opportunity: Increasing R&D spending on novel drug delivery systems will enhance compliance and reduce side effects. Emerging economies with large disease burden offer significant untapped market potential.
Threats: Alternative non-oral formulations and gene therapies are being developed which pose a threat to levodopa's market dominance. Societal pressure to control drug prices can negatively impact revenues.

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. The Parkinson's disease prevalence is estimated to increase from 7 million to over 9 million cases globally between 2015 to 2030. Levodopa is the most widely prescribed drug for controlling motor symptoms.

Regional analysis: North America dominated the levodopa market in 2020 and is expected to continue its dominance during the forecast period. This is attributed to growing prevalence of Parkinson's disease, high healthcare spending and availability of advanced treatments. However, Asia Pacific is projected to experience the highest growth rate owing to large patient pools, increasing healthcare expenditures and growing awareness about treatments.

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. These players are focusing on developing alternative drug delivery systems such as oral disintegrating tablets and subcutaneous injections to improve treatment effectiveness.

For more insights, Read-

https://www.pressreleasebulletin.com/levodopa-market-trends-size-and-share-analysis/

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