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.
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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).
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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