Fort Collins, Colorado, Oct. 09, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Alzheimer’s therapeutics market was valued at USD 3.8 Billion in 2022 and is expected to reach USD 21.1 Billion by 2032 with a CAGR of 18.7% by 2032.
Alzheimer’s disease is a progressive disease that damages and destroys nerve cells in the brain, it generally begins with mild memory loss and leads to gradual loss of cognitive functions. Drugs for Alzheimer’s target the pathophysiology of this disease and help control the symptoms. According to the Alzheimer’s Association, more than six million Americans of all ages suffer from Alzheimer’s disease.
The rising prevalence of Alzheimer’s in all age groups supplements the need for therapeutics. According to the World Health Organization (WHO), the prevalence of dementia and Alzheimer’s disease in the geriatric population is the seventh leading cause of death. This increases the demand for drugs for Alzheimer’s disease. Increasing cognizance about Alzheimer’s disease and starting early medication drive the Alzheimer’s therapeutics market.
Due to the increasing prevalence of Alzheimer’s disease, government organizations and pharmaceutical companies are investing huge amounts of money in research of drugs for Alzheimer’s disease. Moreover, considering the severity of the disease, USFDA grants accelerated approval of drugs for Alzheimer’s disease. For instance, in January 2023, the USFDA granted accelerated approval of Leqembi to Eisai R&D Management Co. Ltd. This provides a wide scope for pharmaceutical companies to focus on the R&D of drugs related to Alzheimer’s disease.
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Segmentation Overview:
The global Alzheimer’s therapeutics market has been segmented into product, distribution channel, and region. Cholinesterase inhibitors dominated the market in 2022, accounting for a high share. Galantamine, Rivastigmine, and Donezepil are the most common drugs in this segment. E-pharmacy is the second largest segment for distribution channels and is mainly driven due to the rise in e-commerce activities. North America is a leading region for Alzheimer’s therapeutics and is expected to retain a dominant position in the forthcoming years.
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Alzheimer’s Therapeutics Market Report Highlights:
- The global Alzheimer’s therapeutics market growth is anticipated at a CAGR of 18.7% by 2032.
- The Alzheimer’s therapeutics market growth is largely driven by growing concern for the alarming death rate due to the disease.
- Cholinesterase inhibitors accounted for a significant position in 2022 and are projected to account for a prominent position in the following years.
- With the rise in popularity of online deliveries, e-pharmacies are expected to continue with a high dominance in the following years.
- Some prominent players in the Alzheimer’s therapeutics market report include Eisai Co. Ltd., Novartis AG, AbbVie Inc. (Allergan Plc.), Adamas Pharmaceuticals Inc., H. Lundbeck A/S, Biogen, AC Immune, F. Hoffmann La Roche Ltd., Daiichi Sankyo Company Ltd., Johnson & Johnson Services Inc., TauRx Pharmaceuticals Ltd.
Industry Trends and Insights:
- APRINOIA Therapeutics, a leader in clinical-stage Biopharmaceutical Company, has secured an investment of USD 4.4 Million by the Alzheimer’s Drug Discovery Foundation. The company plans to expand its product portfolio and spend more on research projects through this investment.
- In 2023, Eli Liily announced its plans to buy Point Biopharma to develop radiopharmaceutical drugs for cancer and pipeline drugs of approximately USD 1.4 Billion.
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Alzheimer’s Therapeutics Market Report Segmentation:
- By Product: Cholinesterase inhibitors, NMDA receptors, combination drugs.
- By Distribution Channel: Hospital, retail, e-pharmacy.
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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