Global Alzheimer’s Drugs Market is anticipated to grow at a 7.2% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Global Alzheimers Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global Alzheimers Drugs market was estimated to be over US $ 3.5 Bn in 2018. It is anticipated to grow at a CAGR of 7.2% from 2019 to 2030.
Growing prevalence rates of Alzheimers disease globally and rising geriatric population worldwide is anticipated to fuel the growth of Alzheimers drugs market. With the globally increasing ageing population, the number of patients suffering from Alzheimers disease is projected to grow during the forecast period. According to the World Health Organization (WHO) between the years 2015 and 2050, the proportion of the worlds population over 60 years will nearly double from 12% to 22%. It is estimated that dementia affects 46.8 million people worldwide with an estimated cost of USD 818 billion. Alzheimers disease is the most common cause of dementia, with 9.9 million people newly diagnosed with dementia each year. Unfortunately there is no cure for Alzheimers, which has become one of the greatest public health challenges globally. These factors are expected fuel the Alzheimers Drugs Market in the forecast period. Current treatments focus on delaying the onset of the disease and on alleviating the symptoms, however they are unable to stop the disease from progressing as they do not alter or affect the underlying causes.
Growing Geriatric Population
The population of geriatrics across the world has grown rapidly over the past several decades. Moreover, this growth has witnessed an unprecedented rate in recent times. In 2016, it was approximated that the population of individuals aged 65 years or older was 8.5% or 617 million of the entire world population. Furthermore, it is projected that the figure will witness an increment to 17% i.e. 1.6 billion by the end of 2050. According to the World Health Organization (WHO) by 2050, 80% of older people will be living in low- and middle-income countries. The pace of population ageing is much faster than in the past. All countries are expected to face major challenges to ensure that their health and social systems are ready to tackle this demographic shift. Alzheimers is a gradually debilitating illness which has no known cure as of now. The first symptom is usually a slowly increasing memory loss, beginning between 40 and 65 years of age. In U.S., Alzheimers is the fifth-leading cause of death among those aged 65 and older. Such rapid growth of geriatric population is anticipated to present a remunerative growth opportunity for the global Alzheimers Drugs market in the coming times.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Global Alzheimers Drugs Market by Drug Class (Cholinesterase Inhibitors (Donepezil, Galantamine, Rivastigmine), NMDA Receptor Antagonists (Memantine)), by Distribution Channel (Direct Distribution Channel, Indirect Distribution Channel) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/global-alzheimer-drugs-market/46
Strong Product Pipeline
Treatment options for Alzheimers disease are needed owing to increasing number of individuals are being afflicted by different forms of the Alzheimers disease. Hence they are many players who have treatment drugs that are in different stages of clinical trials. The strong product pipeline is expected to propel the Alzheimers drug market. Trials are increasingly including preclinical and prodromal populations. There is an increase in non-amyloid mechanisms of action for drugs in earlier phases of drug development. In U.S. there are 112 agents in the current Alzheimers disease treatment pipeline. The key players are focusing on new therapies that will aid to prevent, defer, slow the decline, or improve the symptoms of Alzheimers disease. It has been estimated that the overall frequency of the disease is likely to be decreased by nearly 50% if the onset of the disease could be delayed by 5 years.
High cost and Clinical Trial Failures
Alzheimers disease drugs are costly and may not be worth it if a person takes many other medications for other health conditions. This holds true even if insurance or Medicare coverage pays, since out-of-pocket payments can still be quite steep, which is likely to impede the growth of this market. At times patients who take Alzheimers medication, receive no significant benefit, that coupled with a high price tag and safety concerns are likely to hinder the growth of Alzheimers drugs market. There also has been a high number of failures in clinical trials of the Alzheimers drugs, owing to factors such as adverse effects in the trial phase, unexpected toxicological findings etc. This results in the company dropping the trials and this is expected to restrain the growth of the market. There is a long line of clinical trial failures in the Alzheimers space. From 1998 to 2017 there have been about 146 failed attempts at developing Alzheimers drugs, and 2018 marked another half-dozen or so.
North America A Major Market Share Holder
North America holds the major share of the global Alzheimers drugs market. The growth in this region is anticipated to be propelled by factors such as growing geriatric population, mergers and partnerships amongst key players, rising prevalence of Alzheimers in this region. It is estimated that about 5.7 million Americans of all ages are living with Alzheimers dementia in the year 2018.There is also an added focus on R&D activities in this region as there is a growing need to learn more about plaques, tangles, and other biological features of Alzheimers disease.
Major Players in the Global Cranial Implants Market
The prominent players in the global Alzheimers drugs market are AC Immune, F. Hoffmann-La Roche Ltd, DAIICHI SANKYO COMPANY, LIMITED. Eli Lilly and Company, H. Lundbeck A/S, Eisai Co., Ltd., Avanir Pharmaceuticals, Inc., Novartis AG, Janssen Global Services, LLC, AbbVie Inc. among others.
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