Overview and Scope
Alzheimer’s drugs refer to drugs that aid in managing memory loss, issues with thinking and reasoning, and daily functioning. These drugs are used to treat Alzheimer’s disease, a brain disorder that causes memory, reasoning, and learning to gradually diminish.
Sizing and Forecast
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..
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Segmentation & Regional Insights
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
North Americawas 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
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The alzheimer’s drugs market report table of contents includes:
1. Executive Summary
2. Alzheimer’s Drugs Market Characteristics
3. Alzheimer’s Drugs Market Trends And Strategies
4. Alzheimer’s Drugs Market – Macro Economic Scenario
5. Global Alzheimer’s Drugs Market Size and Growth
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31. Global Alzheimer’s Drugs Market Competitive Benchmarking
32. Global Alzheimer’s Drugs Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Alzheimer’s Drugs Market
34. Alzheimer’s Drugs Market Future Outlook and Potential Analysis
35. Appendix
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