Levodopa Market Size Will Grow At Highest Pace Owing To Rising Geriatric Population

The levodopa market comprises drugs and medicines containing levodopa as an active pharmaceutical ingredient. Levodopa is used to treat the symptoms of Parkinson's disease by compensating for low levels of dopamine, a chemical messenger involved in movement. It works by improving communication from nerve cells in the brain.

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 2024 to 2030.

Key Takeaways

Key players operating in the levodopa market are 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. The rising prevalence of Parkinson's disease globally is a major factor driving the growth of the levodopa market. Technological advancements in drug delivery systems are expected to provide lucrative opportunities for market players over the forecast period.

Market Trends

Combination drug therapy is gaining prominence in the Levodopa Market Demand. Combining levodopa with other drugs like carbidopa or benserazide helps increase the efficacy and reduces side effects. These combination drugs provide more consistent dopamine levels compared to levodopa alone. Biologic drugs are expected to be a key trend going forward. Biologics like glial cell line-derived neurotrophic factor aimed at neuroprotection are under clinical trials. Their approval could offer an alternative to levodopa medications.

Market Opportunities

The growing geriatric population is a major opportunity for levodopa market players. Around 80% of Parkinson's cases are seen after 60 years of age. Developing economies like China and India have massive aging populations, boosting demand. Non-oral routes of administration like patches and implants hold promise to enhance patient compliance. They can provide sustained levodopa levels without fluctuating peaks and troughs seen with oral medications.

Impact of COVID-19 on Levodopa Market Growth
The COVID-19 pandemic significantly impacted the growth of the levodopa market globally. Due to travel restrictions and lockdowns imposed across major economies, clinical trial processes were hampered in 2020. Many ongoing clinical trials in phase II and phase III were put on hold or delayed. This negatively affected the research and development activities for new levodopa products. The procurement of raw materials from overseas suppliers also witnessed disruptions in early 2020 due to supply chain constraints.
However, the demand for existing levodopa drugs used for Parkinson's disease remained stable during the pandemic. As Parkinson's is a progressive neurological disorder, patients needed continuous access to medication. Telemedicine and home delivery options aided in maintaining supply chains. In the later part of 2020, clinical trials resumed with necessary safety protocols. Factors such as increasing incidence of Parkinson's and focus on digital transformation have boosted the post-COVID recovery. The market is expected to demonstrate accelerated growth by focusing on new product introductions and strategic partnerships.

In terms of value, North America represented the largest regional market for levodopa in 2020. Major factors driving the growth include the increasing prevalence of Parkinson’s disease in the U.S. and Canada, high healthcare spending, presence of leading manufacturers and researchers. However, Asia Pacific is projected to witness the fastest CAGR during the forecast period owing to rising geriatric population, growing awareness about neurological conditions, and improving healthcare facilities across China, India and South Korea. Also, Latin America and Middle East regions offer promising growth opportunities for levodopa manufacturers.

The fastest growing regional market for levodopa during the forecast period is expected to be Asia Pacific. The region is anticipated to register a CAGR of over 10% between 2024 and 2030. Factors such as rapidly growing elderly population, increase in healthcare spending, rising awareness about neurological disorders like Parkinson's disease, and improving access to advanced treatment options are fueling the levodopa market growth in Asia Pacific. Countries like China, India, South Korea and Japan are major markets in the region. Support from government initiatives to strengthen healthcare infrastructure is further positively impacting the uptake of levodopa drugs in Asia Pacific. The developing countries offer significant untapped potential for pharmaceutical companies to expand their markets.