by The levodopa market is an essential part of managing Parkinson’s disease symptoms. Levodopa is a medication that converts to dopamine in the brain and helps relieve Parkinson’s disease symptoms.
The global levodopa market 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 2030.
Levodopa remains the most effective drug for the treatment of motor symptoms of Parkinson’s disease. It helps reduce stiffness, tremors, and improves coordination and movement in patients. The increasing geriatric population and incidence of Parkinson’s disease are key factors driving the growth of the levodopa market.
Key Takeaways
Key players: Key players operating in The Levodopa Market include 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.
Key opportunities: Rising investment in R&D for newer formulations of levodopa and combination drug therapies provide significant opportunities for key players in the market. Growing awareness about Parkinson’s disease treatment also opens avenues for market players.
Global expansion: Major players are focusing on expanding their presence in developing economies through partnerships and acquisitions. Increasing healthcare expenditure and demand for advanced therapies in emerging nations of Asia Pacific and Latin America provide scope for the global expansion of the levodopa market.
Market drivers
Increasing geriatric population: The risk of Parkinson’s disease increases with age, and growing elder population widens the patient pool requiring Levodopa treatment globally. The population aged 65 years and above is expected to reach 1.5 billion by 2050.
Rising Parkinson’s disease prevalence: Various studies indicate exponential growth in Parkinson’s disease cases worldwide due to genetic and environmental factors. Higher dopamine-producing neuron loss leads to more pronounced Levodopa therapy demand.
PEST Analysis
Political: regulation of clinical trials and approvals for new drugs and formulations by health authorities like FDA and EMA.
Economic: rising healthcare expenditures and demand for improved treatment options for Parkinson’s disease.
Social: growing prevalence of Parkinson’s disease due to aging population and improved diagnosis.
Technological: advancements in drug delivery technologies for improved delivery and effectiveness of Levodopa.
North America accounted for the largest share of the Levodopa market in terms of value in 2024. The presence of major pharmaceutical companies conducting clinical trials and drug development activities in countries like the US and Canada are driving market growth.
The Asia Pacific region is expected to be the fastest growing market between 2024-2030. Rapidly aging populations and improving access to healthcare in countries like China, India and Japan are leading to rising incidence of Parkinson’s disease. Growing expertise in clinical research and expanding trials outsourcing to the region are also propelling market demand.
