The Global Parkinson's Disease market is to grow at a CAGR of 1.67 percent over the period 2012-2016. One of the key factors contributing to this market growth is the rise in the aging population. The Global Parkinson's Disease market has also been witnessing the transition toward using drugs that have new mechanisms of action. However, weak pipeline landscape could pose a challenge to the growth of this market.
Vaccine development is undergoing significant advancements in the market; special focus is given to neurodegenerative diseases such as Parkinson's disease. As the drugs used to treat patients with Parkinson's have only been able to address the symptoms, a huge unmet need lies in this region. There isn't a single drug available that can modify the course of the disease. AFFiRiS AG, an Australian pharmaceutical company, is involved in the first-ever Phase I clinical development trial for Parkinson's disease (PD01A). The vaccine targets the protein alpha-Synuclein, which is responsible for the onset of the disease. PD01A is expected to encourage disease modifying effects and not symptomatic relief.
One of the main drivers propelling the growth of the market is the steadily growing aging population worldwide. The increasing aging population is contributing to the growth of the market. The number of patients suffering from Parkinson's disease is increasing owing to the increasing aging population both in the developing and developed nations.
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