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Report: Alzheimer’s Disease Market Will Surpass $10 Billion by 2021
A new report from business intelligence provider GBI Research states that the Alzheimer’s disease market will more than double from just under $5 billion in 2014 to an estimated $10.4 billion in 2021, at a compound annual growth rate of 11%.
This impressive market growth will occur across the eight major markets (U.S., Canada, the U.K., France, Germany, Italy, Spain, and Japan) and will mainly be driven by increased disease prevalence during the forecast period, the report states.
“Alzheimer’s disease is significantly more common in the older population and incidence rates increase rapidly after the age of 65,” senior analyst Yasser Mushtaq said. “The fact that people are living longer across the globe means more cases of the disease are developing, and this has posed a growing public health crisis, which represents a very serious disease burden for patients and caregivers alike. Despite the urgent need to develop more-effective treatments for Alzheimer’s disease, thorough research is being carried out into understanding the disease, as its underlying pathology remains unknown. However, these extensive studies have helped to develop the research and development process within this indication, providing hope for the future of Alzheimer’s disease therapeutics.”
The new report also states that although disease prevalence will be the strongest driver of market growth, innovation in the product pipeline will also be a factor.
Mushtaq explained: “While many of the later-stage therapies focus on common targets, the earlier stages of the pipeline do not appear to follow this trend, as they contain many first-in-class molecules with novel molecular targets within the context of Alzheimer’s disease therapeutics. The primary new approvals for drugs that will drive growth during the forecast period will supplement current market leaders and offer greater therapeutic options. Promising examples include verubecestat [Merck], aducanumab [Bioegen Idec], and azeliragon [Pfizer/TransTech Pharma], all of which have demonstrated clinical benefit and will be approved during the forecast period.”
Sources: PR Newswire; February 10, 2016.