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.
View summary of this report @ http://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: http://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
For press release of this report - http://www.grandviewresearch.com/press-release/global-alzheimers-therapeutics-market
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