PUBLISHER: The Business Research Company | PRODUCT CODE: 1409183
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409183
“Alzheimer's Drugs Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on Alzheimer's drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for Alzheimer's drugs? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Alzheimer's drugs market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Alzheimer's drugs are medications designed to assist in the management of symptoms related to memory loss, cognitive issues, and daily functioning challenges associated with Alzheimer's disease-a progressive brain disorder characterized by a gradual decline in memory, reasoning, and learning abilities.
The primary drugs used for Alzheimer's treatment include donepezil, rivastigmine, galantamine, and memantine. Donepezil belongs to the class of drugs known as cholinesterase inhibitors. These medications are distributed through various channels, including hospital pharmacies, retail pharmacies, and online pharmacies. They find application in treating different stages of Alzheimer's disease, ranging from the early to moderate stages to the moderate to severe stages.
The Alzheimer's drugs market research report is one of a series of new reports from The Business Research Company that provides Alzheimer's drugs market statistics, including Alzheimer's drugs industry global market size, regional shares, competitors with a Alzheimer's drugs market share, detailed Alzheimer's drugs market segments, market trends and opportunities, and any further data you may need to thrive in the Alzheimer's drugs industry. This Alzheimer's drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The alzheimer's drugs market size has grown strongly in recent years. It will grow from $8.64 billion in 2023 to $9.44 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth observed during the historical period can be attributed to several factors, including the increase in Alzheimer's disease cases, investments made in research and development, advancements in the understanding of disease mechanisms, global health initiatives addressing neurological disorders, and heightened public awareness and education efforts. These factors have collectively contributed to the development and improvement of Alzheimer's drugs and associated treatments.
The alzheimer's drugs market size is expected to see strong growth in the next few years. It will grow to $13.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period can be attributed to various factors, including the adoption of precision medicine approaches for Alzheimer's treatment, a heightened focus on disease modification rather than just symptom management, the identification and validation of biomarkers for better diagnostics, a shift towards patient-centric drug development strategies, and an increased emphasis on non-pharmacological interventions. Key trends expected in the forecast period encompass the exploration of diverse therapeutic approaches, the integration of digital health solutions, advancements in regenerative medicine, the incorporation of sophisticated diagnostic technologies, the utilization of artificial intelligence (AI) in drug discovery processes, and a rise in partnerships and collaborations within the healthcare and pharmaceutical sectors.
The escalating prevalence of Alzheimer's disease stands as a driving force behind the anticipated growth of the Alzheimer's drugs market. This neurologic condition, characterized by progressive deterioration and brain cell degeneration, necessitates drug intervention to address memory loss, cognitive impairments, and challenges in daily functioning. These medications aim to enhance life quality and preserve independence for affected individuals. As reported in The Alzheimer's Association's 2022 Alzheimer's Disease Facts and Figures report, the staggering statistics reveal that in 2022, approximately 6.5 million Americans aged 65 and older were diagnosed with Alzheimer's disease. The prevalence of this condition rises with age, affecting 1 in 9 Americans aged 65 or older (equating to 10.7% of the total population). This percentage increases from 5.0% in individuals aged 65-74 to 33.2% in those beyond 85. Projections anticipate a surge to 88 million Americans aged 65 and older by 2050, driving the growth trajectory of the Alzheimer's drugs market due to the escalating prevalence of this disease.
The augmentation in healthcare funding is poised to steer the expansion of the Alzheimer's drugs market. Amplified financial support in healthcare channels aids extensive research and development endeavors, sustains clinical trials, fosters advanced diagnostic technologies, facilitates specialized healthcare services, drives awareness programs, and fortifies infrastructure. Notably, in September 2021, the National Institutes of Health (NIH) awarded a substantial grant of USD 1.9 million to Tabula Rasa HealthCare Inc. and Hesperos Inc., emphasizing their collaboration to explore drug-induced dementia and innovate models for advancing Alzheimer's research. This increased healthcare funding is instrumental in propelling advancements in drug development, patient care strategies, and tackling the challenges associated with Alzheimer's disease, thereby fueling the growth trajectory of the Alzheimer's drugs market.
Technological advancements signify a pivotal trend gaining traction in the Alzheimer's disease market. Major industry players are dedicatedly innovating new technologies to bolster their market standing. For example, iMediSync, a South Korea-based healthcare platform company, introduced iSyncBrain in January 2021-an EEG digital biomarker for early Alzheimer's dementia diagnosis on their AI cloud platform. This cutting-edge technology includes customized NIR-LED neuromodulation via the iSyncWave headset, enhancing neural activity through AI analytics and brain mapping techniques. Their iSyncBrain MCI classifier differentiates between amnestic mild cognitive impairment (MCI) of Alzheimer or non-Alzheimer types with over 90% accuracy, offering potential in dementia prevention during the preclinical stage, signifying a breakthrough in Alzheimer's diagnostics and intervention.
Major companies operating in the alzheimer's drugs market are developing new combination therapies to sustain their position in the market. Combination therapies refer to the simultaneous use of two or more therapeutic agents or treatment modalities to address a medical condition. For instance, in April 2022, NovaMedica LLC, a Russia-based pharmaceutical company launched an innovative Alzheimer's disease therapy named MYOREOL. The drug, developed and registered by NovaMedica, is a combination of donepezil and memantine molecules, marking the first of its kind in Russia, the EAEU, and Europe. MYOREOL aims to enhance treatment retention and effectiveness in patients with moderate and severe dementia associated with Alzheimer's disease.
In March 2022, AbbVie, a US-based publicly traded biopharmaceutical company, acquired Syndesi Therapeutics for an undisclosed amount. This acquisition grants AbbVie access to Syndesi's portfolio of new modulators of the synaptic vesicle protein 2A (SV2A), including its lead compound SDI-118, and will aid in the expansion of AbbVie's neuroscience product line. Syndesis Therapeutics is a Belgium-based company that treats Alzheimer's disease and other disorders with cognitive impairment.
Major companies operating in the alzheimer's drugs market report are: AbbVie Inc., Daiichi Sankyo Company Limited, F Hoffmann-La Roche AG, Merck & Co Inc., Novartis AG, Biogen Inc., AstraZeneca PLC, Eisai Co Ltd., Eli Lilly and Company, H Lundbeck A/S, Pfizer Inc., Allergan PLC., Johnson & Johnson, Lupin Pharmaceuticals Inc., Actiza Pharmaceutical Private Limited, Neurotrope Inc., AC Immune SA, Adamas Pharmaceuticals Inc, Alzheon Inc., Anavex Life Sciences Corp, Axsome Therapeutics Inc., Cassava Sciences Inc., Cognition Therapeutics Inc., Cortexyme Inc., Denali Therapeutics Inc, EIP Pharma Inc., Enlivex Therapeutics Ltd., FORUM Pharmaceuticals Inc., Genentech Inc., Green Valley Pharmaceuticals LLC, Intra-Cellular Therapies Inc., Karuna Therapeutics Inc., Neurim Pharmaceuticals Ltd .
North America was the largest region in the Alzheimer's drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the Alzheimer's drugs market during the forecast period. The regions covered in the alzheimer's drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the alzheimer's drugs market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The Alzheimer's drugs market consists of sales of cholinesterase inhibitors such as aricept, exelon, and razadyne. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.