Alzheimer’s Drugs Market: Advances in Techniques for Diagnosis expand Outlook of Market
Global Alzheimer’s Drugs Market – An Overview:
The global Alzheimer’s drugs market is set to grow over the forecast period of 2017 to 2025, owing to multiple factors, as per Transparency Market Research. It notes that due to increase in incidence of this progressive degenerative disorder of the brain, demand for these drugs would grow, helping the market chart a compound annual growth rate (CAGR) of 7.5%. This will take the market worth up to USD 6.4 billion by the end of the states period, which is the assessment period of the global Alzheimer’s drugs market report.
An extremely common factor of dementia, Alzheimer’s interferes with a patient’s ability to think coherently, often starting with a problem with remembering conversations and enlarging as a challenge in behavioral skills. It is significant to note here that a number of environmental factors are driving up cases if this disease. Factors of growth also include certain genetic traits and lifestyle choices. Western countries demonstrate a high number of these cases.
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Here, prevalence of neurodegenerative diseases deserves a mention. It is growing rapidly, leading to players in the Alzheimer’s drugs market towards a more proactive approach to drug discovery and development. This is creating a robust drug pipeline and promises the market notable growth in the future, particularly over the forecast period.
It is also quite significant to note here that the vendor landscape of the market is consolidated and is witnessing intense activity directed towards growth. Some of the top players that are driving the market forward with their proactive strategies – organic and inorganic – are Allergan plc and Novartis AG. Other leading companies include Johnson and Johnson, Ono Pharmaceutical Co Ltd., Merz Holding GmBH & Co KG, Daiichi Sankyo Company Ltd, and Eisai Co Ltd., among others.
Some of the top strategies that are often noted in the global Alzheimer’s drugs market include key alliances such as mergers and acquisitions and partnerships and collaborations – based on mutual synergies. These strategic maneuvers often pave way for growth in the future by providing players with better control over market share. Combination of resources such as labor and technology are usually crucial for market players to create dominance in the market.
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Research and development (R&D) and technological advancement hold prominence in the market landscape owing to massive reliance on effective drug discovery and development. These are therefore considered key determinants of growth in the global Alzheimer’s drugs market over the forecast period.
Memantine Segment to Contribute Massively to Growth in Alzheimer’s Drugs Market over the Forecast Period
Drug class, region, and distribution channels are the broad categories on the basis of which this report has been segmented. Sub-segments in the drug class category are Cholinergic, Combined Drug, and Memantine. In terms of distribution channels, there is online sales, and offline sales – retail pharmacy and hospital pharmacy.
Memantine from the first segment will dominate the market over the forecast period. The report states that it has a major sway in the market. Few options available in the market is the reason that it is set to propel growth in the global Alzheimer’s drugs market. It is also worth noting here that a number of patent expirations are at the helm and these would also help growth in the segment, propelling the market on a high growth trajectory. This along with combination of limited drugs is set to pave way for the market to witness increased revenues over the forecast period.
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Additionally, there is another segment that will keep market players hooked to the landscape. The segment is that of cholinergic. Over the forecast period, it will show a tremendous growth curve. This growth that the segment is anticipated to record will be an outcome of non-availability of other effective drugs.
North America to be the Dominant Region in the Global Alzheimer’s Drugs Market over the Forecast Period
The global Alzheimer’s drugs market report is a comprehensive study, incorporating a granular regional analysis. The report, prepared by Transparency Market Research, covers key regions of the world to provide a deep-dive into threats, opportunities, strengths and weaknesses of these regions. The list includes Latin America, Middle East and Africa, Europe, North America, and Asia Pacific.
Of these, North America would emerge as a lucrative market, continuing to hold its dominance over the global Alzheimer’s drugs market share. Reasons that support this growth is a robust healthcare infrastructure and a healthy research and development of environment. Others include presence of strong pharmaceutical players, a large number of whom also have a keen eye on this market. A large number of cases of Alzheimer’s are also a significant growth propeller in the market. High level of awareness about the disease and a rapidly ageing population is also supporting growth in the market. By 2050, one in every four people will be aged 65 and above in both Europe as well as North America.
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By the year 2025, North America is said to reach a steep valuation of about USD 3 billion – a notable rise from USD 1.7 billion that was noted in the year of 2017. This also translates to a CAGR (Compound Annual Growth Rate) of 8.6% over the forecast period.
New opportunities will also arise in regions such as Latin America and Asia Pacific over the forecast period, notes Transparency Market Research. Government efforts towards improving research and towards improving healthcare outcomes are also a notable growth factor in the Asia Pacific region.
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