The Alzheimer’s Drugs by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Alzheimer’s Drugs , 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 in the historic period can be attributed to rise in alzheimer’s disease cases, investments in research and development, improved understanding of disease mechanisms, global health initiatives, public awareness and education..
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 growth in the forecast period can be attributed to precision medicine approaches, focus on disease modification, biomarker identification and validation, patient-centric drug development, focus on non-pharmacological interventions.. Major trends in the forecast period include diverse therapeutic approaches, digital health solutions, regenerative medicine, advancements in diagnostic technologies, artificial intelligence (ai) in drug discovery, partnerships and collaborations..
The rising prevalence of Alzheimer’s disease is expected to propel the growth of the Alzheimer’s drugs market going forward. Alzheimer’s disease is a neurologic condition that worsens over time and causes both brain shrinkage and cell death. Drugs for Alzheimer’s disease are used to treat memory loss, problems with thinking and reasoning, and difficulties with everyday living. Drugs for Alzheimer’s can enhance the quality of life and help maintain independence. For instance, in June 2020, according to the 2022 Alzheimer’s Disease Facts and Figures report by The Alzheimer’s Association, a US-based non-profit and voluntary health organization in Alzheimer’s care, support and research. In 2022, there were 6.5 million Americans 65 and older who have Alzheimer’s disease. About 1 in 9 Americans (or 10.7% of the total population) who are 65 or older have Alzheimer’s disease. The percentage of those who have Alzheimer’s disease rises with age: 5.0% of those between the ages of 65 and 74, 13.1% of those between the ages of 75 and 84, and 33.2% of those beyond the age of 85. By 2050, there are expected to be 88 million Americans aged 65 and older, up from 58 million in 2021. Therefore, the increasing prevalence of Alzheimer’s disease is driving the growth of the Alzheimer’s drugs market.
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The alzheimer’s drugs market covered in this report is segmented –
1) By Drugs: Donepezil, Rivastigmine, Galantamine, Memantine
2) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
3) By Application: Early To Moderate Stages, Moderate To Severe Stages
Technological advancements have emerged as a key trend gaining popularity in the Alzheimer’s disease market. Major companies operating in the Alzheimer’s disease market are focused on innovating new technologies to sustain their position in the market. For instance, in January 2021, iMediSync, a South Korea-based healthcare platform company, launched iSyncBrain, an EEG digital biomarker for early Alzheimer’s dementia diagnosis on their AI cloud platform. They also provide customized NIR-LED neuromodulation using their future cutting-edge headset, iSyncWaveTM, to increase neural activity, employing AI analytics and brain mapping techniques. To prevent dementia in the preclinical stage, the iSyncBrain® MCI classifier screens and distinguishes between amnestic moderate cognitive impairment (MCI) of the Alzheimer or non-Alzheimer type. This has undergone multicenter clinical testing with over 90% accuracy rates.
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