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Rising Cases of Alzheimer's in Geriatric Population to Propel Demand for Alzheimer's Drugs, Says TMR
ALBANY, New York, July 5, 2019 /PRNewswire/ -- According to a recent report by Transparency Market Research (TMR), the global Alzheimer's Drugs Market is anticipated to expand at a steady CAGR of 7.5% within the forecast period from 2017 to 2025. The market is estimated to be valued around worth of US$6.4 bn by the end of the 2025. In 2017, the global Alzheimer's drugs market is was valued to be worth US$3.6 bn.
On the basis of drug class, the global Alzheimer's drug market is segmented as cholinergic, memantine, and combined drugs. Among these, in 2016, the memantine drug segment led the global Alzheimer's drugs market. This is credited to rising expiry of patents of important products, along with limited number of drugs allowed to be used in treatment of Alzheimer's. In terms of geography, North America is leading the global Alzheimer's drugs market, accounting for maximum share in 2016. This is due to increasing number of people suffering from the disease, along with surge in awareness about treatment of Alzheimer's.
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Strong Support from Different Governments to Fortify Market Development
Among the most critical drivers boosting the demand in the global Alzheimer's drugs market is the rising cases of this ailment in geriatric population, especially in the West. The Alzheimer's drugs market even has a strong support from various governments across the globe, particularly from developed countries, due to increased cases of neurodegenerative ailments in the countries. As a result, this is contributing majorly in the innovation of more advanced therapies and drugs, up-taking demand in the global Alzheimer's drugs market in coming years. Besides, in North America region, the atmosphere is more favorable for the expansion of the Alzheimer's drugs market. Moreover, with the increasing awareness regarding neurodegenerative illnesses within the growing nations, including Asia Pacific is as well foreseen to inundate development in the global Alzheimer's drugs market in the future years.
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High Expenses of Advanced Treatment to Hinder Market Growth in Future
Owing to lack of awareness regarding the disease in various nations of Southeast Asia, the demand for drugs and research framework remains untapped. Nevertheless, the increased expenses of advanced drugs for the Alzheimer's treatment has affected the underdeveloped nations of Asia Pacific from utilizing these drugs. However, on a brighter note, owing to changing market dynamics and emergence of new players willing to invest in research activities in global Alzheimer's drugs market are foreseen to support the overall growth. This factor is likely to overcome the restraining aspect of the market in the forthcoming years. Moreover, with the advancement in drugs and technology, more effective therapies and treatment are being innovated, which are relied upon to make notable development in the global market.
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The players operating in the global Alzheimer's drugs market are majorly based in North America and Europe. These are foreseen to lead the market in upcoming years through the forecast period. This is credited to improved advent of emergency clinics across the countries for example, Germany, the US, the UK, and Canada. The key players which led the global Alzheimer's market in 2016 are Novartis AG and Allergan plc. These companies have improved their global reach by strategies such as mergers and acquisitions and collaborations with emerging brands. The other important players in the global Alzheimer's drugs market are Eisai Co Ltd, H Lundbeck A/S, Daiichi Sankyo Company Limited, Ono Pharmaceutical Co Ltd, Merz Holding GmbH & Co KG, and Johnson & Johnson. The well-established players are focusing on innovating more impactful drugs to treat Alzhiemer's, which is likely to contribute in market growth in coming years.
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The information in this preview comes from a Transparency Market Research report titled 'Alzheimer's Drugs Market (Drug class - Cholinergic, Memantine, and Combined Drug; Distribution Channel - Hospital Pharmacy, Retail Pharmacy, and Online Sales) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.'
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