The global alzheimer’s therapeutics market is expected to reach USD 6.4 billion in 2024, according
to a new report by Grand View Research. Some primary factors driving the market
growth includes rising government initiatives in order to raise awareness
levels among people.
Growing knowledge about the
Alzheimer’s disease (AD) and its high prevalence and incidence in developing
economies are few of the major drivers supporting the market growth. Several
governments, nonprofit, and private organizations worldwide are actively
engaged in increasing people’s awareness regarding progressive AD, such as
Alzheimer’s Association, the Alzheimer’s Society of Canada, Alzheimer’s Europe
organization, and various other small organizations.
Furthermore, the
increased government funding for providing better care and support to the
people with partial dementia is another important factor anticipated to enlarge
market growth. For instance, organizations like Florida Department of Health,
the National Institute of Health, and Alzheimer’s Association in partnership with
other private and government organizations provide funds to the research
centers.
The presence of various
pipeline drugs is anticipated to provide the market with potential growth
opportunities. For instance, LMTX by TauRx Pharmaceutical Ltd.; idalopirdine
(Lu AE58054) by Lundbeck; crenezumab by AC Immune SA; and BAN2401 by Eisai
Moreover, novel
therapeutics with minimal dosage requirement has been introduced resulting in
cost-effective alternatives, which is further expected to boost the market
growth. For instance, Namzaric by Actavis was developed in two forms: 10 mg and
28 mg. 10 mg requires to be administered twice a day, while 28 mg requires to
be administered once in a day.
Access Research Report of Alzheimer’s Therapeutics Market@:
www.grandviewresearch.com/industry-analysis/alzheimers-therapeutics-market
Further Key Findings from the Study Suggest:
· The cholinesterase inhibitors segment was
dominant in 2013 but lost hold on the market till 2015. Patent expiry of key
drugs such as Aricept, Exelon, and Razadyne was the major factor for decline in
market share.
· Exelon transdermal patch is estimated to lose
exclusivity in 2019. It is a highly prescribed drug for the treatment of mild
to moderate AD, which contributed toward its revenue generation in 2015.
· N-methyl-D-aspartate receptor
antagonist, on the other hand, is expected to witness a significant growth of
around 16.0% over the forecast period owing to introduction of extended relase
formulation of Namenda.
· Other drug therapies such as monocloclonal
antibodies and drugs targeting Tau proteins are in being studied in latter
phases of the clinical trials. Presence of a strong of pipeline drugs for
target disease are attributing toward fastest growth of these drugs
· North America dominated the overall market
in terms of revenue with share of over 33.0% in 2015, which is majorly
facilitated by the availability of sophisticated healthcare facilities and
infrastructure.
· Some key players operating in this industry
are Pfizer, Inc.; Merck & Co. Inc.; Novartis AG; Eisai Co. Ltd., H.
Lundbeck A/S, AC Immune; TauRx Pharmaceuticals Ltd.; Actavis plc.; Forest
Laboratories; and Teva Pharmaceuticals Industries Ltd.
· Market players are expanding their product
portfolio by developing and launching generic versions of drugs to sustain its
market position. For instance, in 2015, Dr. Reddy’s Laboratories Ltd. and Mylan
launched the generic version of Namenda (Forest laboratories – Actavis).
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has
segmented the Alzheimer’s therapeutics market on the basis of drug class and
region:
Alzheimer’s Therapeutics Market Drug Outlook (Market
Revenue in USD Million, 2013 - 2024)
·
Cholinesterase Inhibitors
·
N-methyl-D-aspartate (NMDA) receptor
antagonist
Alzheimer’s Therapeutics Market Regional Outlook, (Market
Revenue in USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
Access Press Release of
Alzheimer’s Therapeutics Market@: www.grandviewresearch.com/press-release/global-alzheimers-therapeutics-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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