Freeze of Gait Market

Increasing prevalence of Parkinson’s disease and other related diseases

Parkinson's disease is a disorder of the central nervous system that causes unintended or uncontrollable movements, such as stiffness, shaking, and difficulty with coordination and balance. These symptoms generally begin slowly and worsen over time. This may result in difficulty walking and talking. Freezing of gait (FoG) is one of the most debilitating motor symptoms in Parkinson's disease (PD) patients. Freezing of gait is an abnormal gait pattern that leads to a sudden inability to initiate or continue walking.

According to data published in Nature Journal, in the year 2022, FoG affected about 50% of Parkinson's disease patients and 80% of advanced Parkinson's disease patients. According to the Parkinson’s Foundation, currently around one million people in the US are living with Parkinson's disease (PD), and it is estimated that this number will rise to 1.2 million by 2030.

The Global Freeze of Gait Market Industry is experiencing growth due to the rising prevalence of Parkinson's disease, which is a significant contributor to gait disturbances. As of 2024, the estimated number of individuals diagnosed with Parkinson's disease is projected to reach approximately 10 million worldwide. This increase in patient population necessitates the development of effective therapeutic interventions, thereby driving demand for products and services within the Global Freeze of Gait Market Industry. The anticipated rise in cases is expected to contribute to the market's value, which is estimated to reach 1.27 USD Billion in 2024, indicating a pressing need for innovative solutions.

By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World.

The North America Freeze of Gait market is expected to account for USD 0.48 billion in 2022 and is expected to exhibit a 5.17% CAGR during the study period. This is attributed to the business presence of major key player, rising FDA approval, and increasing awareness about the medication and therapies, rising prevalence of Parkinson disease in the region drive the regional market growth during the forecast period.

In 2022, as per the Parkinson's Foundation, an estimated 90,000 suffered from Parkinson disease in the US people are affected by Freeze of Gait in the US, and this denotes a steep 50% growth from the earlier estimated rate of 60,000 diagnoses annually which is contributing to market growth over the forecast period.

Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: GLOBAL FREEZE OF GAIT SHARE (%) BY REGION 2022

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe Freeze of Gait market is expected to account for the second-largest market share due to the increasing healthcare expenditure, rising demand for advanced therapeutics, and increasing geriatric population lead to risk of Parkinson disease associated freeze of gait which drive the growth of freeze gait in Europe region.

Accessibility to advanced technology for disease diagnosis, the rising geriatric population prone to Freeze of Gait is driving up demand for effective treatment & therapeutics and increasing awareness about the freeze of gait. For instance, At present time more than 1.2 million people suffering from Parkinson’s in Europe and this number is forecast to double by 2030.

In addition, The cost per Parkinson’s patient amounts to approximately USD 12,058 on average across Europe, and a cost to Europe of USD 15.24 billion annually Thus, increasing treatment cost per patient in Europe, rising research and development activity positively impact on the growth of freeze of gait market. Additionally,  favorable government support for better treatment facility are boosting the growth of the Freeze of Gait market in Europe.

The Asia-Pacific freeze of gait market is expected to grow at a CAGR of 6.03% from 2023 to 2032. This is due to factors such as rising medical facility, increasing government initiative for freeze gait treatment, presence of large patient pool of Parkinson disease associated with freeze of gait are positively impact on the growth of freeze of gait market in Asia-Pacific region. Furthermore, availability of cheap labour cost, increasing interest of major key players for investment in Asia-Pacific region are further drive the growth of this market.

The Rest of the World includes the Middle East, Africa, and Latin America. Middle East hold the major market share in middle east and Africa region due to rising government support for business establishment of key players, rising incidence of freeze of gait limited increasing number of research companies and subsidiaries involved in R&D, and increasing initiatives are taken by Middle East countries to develop their healthcare infrastructure. Moreover, growing awareness and demand from the general population for effective treatments are likely to favor market growth.

The freeze of gait market is distinguished by the presence of numerous global, regional, and local players catering to the increasing research funding and collaborations, and growing Parkinson’s diseases. Because of increased adoption of advanced medical technologies and continuous development by companies, the freeze of gait market is becoming more profitable.

Several factors are driving market growth, including increasing prevalence of Parkinson’s disease and other related diseases, the growing geriatric population, and increasing investment in R&D. Furthermore, the freeze of gait market is highly competitive, with players competing, collaborating, and investing heavily in research and development to gain a significant market share. The market is expanding with rising investment by key players. The growth of key market players is dependent on market conditions, government support, and industry development. 

Key players in the Freeze of Gait Market focus on expanding regionally and improving their product quality and delivery. Although international players dominate the market, regional players with small market shares also have a considerable presence. The international players may strengthen their presence through acquisitions and collaborative agreements during the forecast period. It has also been forecasted that improvement of the global economic scenario combined with efforts to enhance product delivery globally is fueling the market growth, thereby making it an ideal time for new players with innovative products to enter the market and increase the market share.

The market is moderately fragmented due to rising competition, product launches, increased collaborative partnerships, and other strategic decisions to achieve operational efficiency.