The Global Alzheimer’s Therapeutics Industry is on the brink of a significant breakthrough, with a projected valuation of US$ 3,052.3 million in 2023. According to the latest market insights, the demand for Alzheimer’s therapeutics is set to surge, anticipating an impressive Compound Annual Growth Rate (CAGR) of 9.2%. By the year 2033, industry experts foresee the market reaching an astounding US$ 7,359.7 million.
Alzheimer’s Therapeutics is the most common reason for progressive dementia in the elderly population. There has been an exponential rise in the number of cases of Alzheimer’s Therapeutics worldwide emphasizing the necessity for developing an effective treatment. According to the Alzheimer’s Association, in 2016, an estimated 5.4 million Americans of all ages had Alzheimer’s disease.
The mortality rates due to Alzheimer’s Therapeutics are quite high. Between 2000 and 2013, deaths due to heart disease, stroke, and prostate cancer decreased by 14%, 23%, and 11%, respectively, while deaths from ALZHEIMER’S THERAPEUTICS increased by 71% in the U.S. Similarly, According to Alzheimer’s Therapeutics International in 2015, there are an estimated 46.8 million people worldwide living with dementia and is further expected to grow in future. Thus, there is an increase in the demand for Alzheimer’s therapeutics and diagnostics worldwide.
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Population aging across the globe is a major factor driving the market for Alzheimer’s therapeutics and diagnostics. Rising life expectancy is contributing to quick increases in the number of the aged population. In addition, is associated with an increased prevalence of chronic diseases like dementia.
Therapies for Alzheimer’s therapeutics offer temporary and uncertain improvements in the well-being of individuals, and none of the approved drugs can modify the course of the disease Alzheimer’s Therapeutics cement. Thus, the magnitude of the affected population and the lack of suitable and effective treatment offers an incredible opportunity for drug manufacturers.
However, the identification of the primary reasons and mechanisms involved in Alzheimer’s therapeutics is limited. Drug manufacturers have been unable to validate the significant clinical benefits of treatment for numerous new compounds due to strict regulations. One of the significant trends observed in this market is the collaboration of the existing players.
Precisely, diagnostic technology companies are carefully trying to bring about effective biomarker technologies to support and improve the drug development process for potential drug candidates, which is further expected to propel the demand.
Developing countries are expected to offer lucrative opportunities for this market. According to Alzheimer’s Therapeutics International in 2015, 58% of people with dementia live in developing countries, but by 2050 this will rise to 68%. The fastest growth in the elderly population is taking place in China, India, and their South Asian and Western Pacific regions.
According to the World Alzheimer Report in 2015, regional estimations of dementia prevalence in people aged 60 years and over vary from 4.6% in Central Europe to 8.7% in North Africa and the Middle East, however, all other regional estimates fall in relatively between 5.6% and 7.6%.
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A list of Key Players Covered in the Global Alzheimer’s Therapeutics Industry are:
- AbbVie, Inc.
- Teva Pharmaceuticals Ltd.
- Eisai Co., Ltd.
- Janssen Pharmaceuticals, Inc. (Johnson & Johnson)
- Novartis AG
- Zydus Lifesciences Ltd (CADILA)
- Sun Pharmaceutical Industries Ltd.
- Dr. Reddy’s Laboratories Ltd
- Aurobindo Pharma Ltd
- Amneal Pharmaceuticals Inc.
- Macleods Pharmaceuticals Ltd.
- Viatris Inc.
- Lupin Ltd
- Cipla Ltd.
- Torrent Pharmaceuticals Ltd.
- Unichem laboratories ltd
- Lannett Inc.
Key Market Segments Covered in Global Alzheimer’s Therapeutics Industry Research
By Drug Name:
- Donepezil
- Rivastigmine
- Memantine
- Galantamine
- Manufactured a combination of memantine and donepezil
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By Drug Class:
- Cholinesterase Inhibitors
- NMDA Receptor Antagonists
- Manufactured Combination
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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