Progressive Supranuclear Palsy Treatment Market to Surpass US$ 20.68 Million by 2027
Global Progressive Supranuclear Palsy Treatment Market, by Drug Type (Dopamine, Anticholinergic Agents, Tricyclic Antidepressants, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 14.38 million in 2020 and is expected to exhibit a CAGR of 5.3% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Research & development by market players to augment the market growth
Major players in the market are focused on research and development of novel products, which is expected to boost the market growth. For instance, on 20th February 2019, AlzProtect, a biopharmaceutical company engaged in the development of drugs announced about its successful completion of the latest phase 1 study about the effect of food intake for its drug candidate AZP2006. AZP2006 (EZEPROGIND), is a bioavailable neurotrophic inducer, targeting causes of neurodegeneration diseases.
Global Progressive Supranuclear Palsy Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in over 30.6 million infected individuals worldwide as of 21st September 2020.
COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channel, and by its financial impact on firms and financial markets. Due to lockdowns, several countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of such drugs from one place to another.
Moreover the COVID-19 pandemic has impacted the supply of raw materials and potent compounds, which are used for manufacturing drugs such as progressive supranuclear palsy and this is expected to hamper the market growth in the near future.
Browse 40 Market Data Tables and 35 Figures spread through 195 Pages and in-depth TOC on “Progressive Supranuclear Palsy Treatment Market – by Drug Type (Dopamine, Anticholinergic Agents, Tricyclic Antidepressants, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027”
To know the latest trends and insights prevalent in the global progressive supranuclear palsy treatment market, click the link below:
Key players in the market are focused on researching and developing novel drugs for progressive supranuclear palsy treatment market. For instance, in September 2019, UCB S.A., a global biopharmaceutical company based in Belgium focusing on the discovery and development of innovative medicines and solutions, released a new data for UCB0107, an anti-Tau immunotherapy Phase I study results at World Movement Disorders Conference, France. UCB0107 is a recombinant, humanized, full-length IgG4 monoclonal antibody, a potential treatment for patients with progressive supranuclear palsy (PSP).
Key Takeaways of the Global Progressive Supranuclear Palsy Treatment Market:
- The global progressive supranuclear palsy treatment market is expected to exhibit a CAGR of 5.3% during the forecast period, owing to rising incidence of progressive supranuclear palsy. For instance, according to the PSP Association estimates there were around 4,000 people with PSP living in the U.K in 2018.
- Among drug type, dopamine segment held a dominant position in the progressive supranuclear palsy treatment market in 2019, owing to its effective indication for the prevention and treatment.
- Among distribution channel, hospital pharmacies segment held a dominant position in the progressive supranuclear palsy treatment market in 2019, as partnerships and agreements of hospitals with specialty pharmacies services providers are expected to drive the segment growth during the forecast period.
- Key players operating in the global progressive supranuclear palsy treatment market include AbbVie Inc., Acorda Therapeutics Inc., Biogen Inc., Bristol-Myers Squibb Co., Merck & Co. Inc., UCB Biopharma, AlzProtect, Asceneuron Therapeutics, TauRx Pharmaceuticals, GlaxoSmithKline PLC, Novartis AG, and Teva Pharmaceutical Industries Ltd.
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