Alzheimer's Drugs Market is Anticipated to Witness High Growth Owing to Increasing Prevalence of Alzheimer's D

North America is expected to hold the largest share in the Alzheimer's drugs market during the forecast period.

Alzheimer's drugs refer to the pharmaceutical drugs that are used to slowdown or temporarily stop the progression of Alzheimer's disease. The key advantage of these drugs is that they help improve mental functions such as memory, thinking, and reason in patients suffering from mild to severe Alzheimer's disease. The need for Alzheimer's drugs has increased significantly owing to the rise in the number of Alzheimer's disease cases globally.

The Global Alzheimer's Drugs Market Size is estimated to be valued at US$ 5.6 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.

Key Takeaways:

Key players operating in the Alzheimer's Drugs are AstraZeneca, GlaxoSmithKline plc, Pfizer Inc., Clovis Oncology, Inc., Tesaro (acquired by GlaxoSmithKline).

The key opportunities in the market include increasing research funding for development of new drugs and strategic collaborations between industry players and research institutions. Currently, around 5.8 million Americans aged 65 and older are living with Alzheimer's disease. This large patient pool presents significant commercial opportunities for market players.

On the global front, companies are focusing on expanding their presence in emerging markets such as China, India, Brazil, and Mexico owing to growing elderly population and increasing spending on healthcare. For instance, in 2018, Pfizer launched its Alzheimer's drug in China to tap the rapidly growing Chinese pharmaceutical market.

Market drivers:

- Increasing prevalence of Alzheimer's disease globally - It is estimated that around 50 million people worldwide are living with Alzheimer's or dementia as of 2020. This increasing disease prevalence is driving the demand for effective Alzheimer's drugs.

- Strong product pipeline - Major pharmaceutical players are investing heavily in RD to develop advanced and novel therapies for Alzheimer's. As of 2019, over 400 drugs were in clinical trials for the treatment of Alzheimer's. This strong pipeline is anticipated to yield successful drug launches in the forecast period.

Market restraints:

- High failure rate of drug trials - Majority of drugs entering Phase III clinical trials for Alzheimer's disease have failed to prove efficacy. Developing successful disease-modifying therapies has proven extremely challenging. This increases uncertainty and risks associated with drug development.

- High costs associated with drug development and launch - It costs upwards of US$ 5 billion to develop and launch a new drug in the current regulatory environment. This high capital requirement poses significant financial challenges for pharmaceutical companies, especially small players.


Segment Analysis
The Alzheimer's drugs market can be segmented into Cholinesterase inhibitors, NMDA receptor antagonists, and others. Among these, the cholinesterase inhibitors segment dominates the market. Some of the popular cholinesterase inhibiting drugs are donepezil (Aricept), rivastigmine (Exelon), and galantamine (Razadyne/Reminyl). These drugs are the first line of treatment for mild to moderate Alzheimer's due to their selectivity in targeting cholinergic systems in the central nervous system. They can temporarily improve symptoms and slow the progression of Alzheimer's disease.

Global Analysis
In terms of regions, North America is expected to hold the largest share in the Alzheimer's drugs market during the forecast period. This is primarily due to the increasing prevalence of Alzheimer's disease, improving healthcare infrastructure, availability of advanced treatment options, and spending on dementia care in the region. Moreover, Asia Pacific is projected to grow at the fastest rate owing to the rising geriatric population, growing awareness about the condition, and increasing healthcare expenditure in countries such as China and India.

Get More Insights on This Topic: https://www.ukwebwire.com/alzheimers-drugs-market-demand-growth-and-regional-outlook-by-2030/


Mia Yates

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