Alzheimer's Drugs Market Size worth US$ ~9.67 billion by 2031: Exclusive Report by Growth Plus Reports
NEW YORK, May 10, 2022 /PRNewswire/ -- The Global Alzheimer's Drugs Market Size is expected to clock US$ ~9.67 billion by 2031, according to the latest report published by Growth Plus Reports. Owing to the rising prevalence of Alzheimer's disease coupled with a strong product pipeline.
Growth Factor
The prominent players are progressively implementing collaborative initiatives with several organizations, research centers, and companies in order to encourage R&D of Alzheimer's treatment. For instance, in February 2020, Biogen Inc. and Sangamo Therapeutics, Inc. entered into a global licensing collaboration agreement to develop and commercialize ST-501 for tauopathies including Alzheimer's disease.
The global Alzheimer's drugs market has been analyzed from three different perspectives–Drug Type, Distribution Channel, and Region.
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Government bodies and numerous organizations across the globe are taking initiatives to fast-track the development of Alzheimer's drug by providing the necessary funding and approvals. For instance, federal funding for USC's research on Alzheimer's disease and related dementias grew by more than 400% between 2015 and 2018. USC's NIH funding for Alzheimer's was $13.3 million in 2015 and it increased to $68.3 million in 2018.
Alzheimer's is the fifth-leading cause of death among those aged 65 & older and is also a leading cause of disability & poor health. An estimated 5.8 million Americans aged 65 and older were living with Alzheimer's dementia in 2020. 80% of this population was aged 75 or older. This number is expected to increase to 13.5 million by 2050. Among people of age 70, 61% of those with Alzheimer's dementia are expected to die before the age of 80 compared with 30% of people without Alzheimer's. The rising prevalence of Alzheimer's disease has increased the demand for the treatment, which in turn is expected to boost the market growth.
Restraints:
Alzheimer's drug development is considered to have the highest failure rates of all drug research, at 99.6% compared to 81% for cancer, according to Scientific American. The drug development process includes high capital investments, therefore, failures in drug research may prove to be huge loss for companies, thereby discouraging the companies to invest and participate in the clinical trials. In January 2018, Pfizer, announced to end its R&D on new drugs for Alzheimer's and Parkinson's diseases and reallocate the funding to areas where the company has strong scientific leadership. Pfizer is among the first companies to research Alzheimer's. Such instances are expected to slow down the growth of the market.
Excerpts from 'By Drug Type Segmentation'
The global Alzheimer's drugs market has been segmented majorly into three distinct categories depending on drug type, viz.
- NMDA receptor antagonists
- Cholinesterase Inhibitors
- Others (combined drugs, monoclonal antibodies, etc.).
The NMDA receptor antagonists segment consists of Memantine drug. Whereas cholinesterase inhibitors consists of Galantamine, Rivastigmine, and Donepezil drugs. The cholinesterase inhibitors segment dominated the market with the largest share in 2020. The growth of the segment can be attributed to the use of cholinesterase inhibitors as a first line treatment for mild to moderate Alzheimer's condition.
Excerpts from 'By Region Segmentation'
The global Alzheimer's drugs market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
North America is expected to command the largest share in the global Alzheimer's Drugs market in 2020, followed by the Asia Pacific, Europe and Rest of the World (RoW). Factors such as rising prevalence of Alzheimer's among geriatric population, rising initiatives by various public and private organizations, and presence of the prominent players coupled with large number of drugs present in pipeline are attributed for the large share of the region in the global market.
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Excerpts from 'Competitive Landscape'
The prominent players operating in the global Alzheimer's drugs market are: -
- Daiichi Sankyo Company Limited
- H. Lundbeck A/S
- Novartis AG
- Lupin Pharmaceuticals, Inc
- Actiza Pharmaceutical Private Limited
- Amneal Pharmaceuticals LLC
- AC Immune
- F. Hoffmann-La Roche Ltd
- Janssen Global Services, LLC
- AbbVie Inc
- Among others
Alzheimer's Drugs Market Segmentation
Growth Plus Reports has segmented the global Alzheimer's Drugs market on the basis Drug Type, Distribution Channel, and Region:
Drug Type Outlook:
- NMDA Receptor Antagonists
- Cholinesterase Inhibitors
Distribution Channel Outlook:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Region Outlook:
- North America
- Europe
- Asia Pacific
- The Rest of the World (ROW)
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