NEWARK, Del, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The estimated value of the worldwide Alzheimer's in 2023 is US$ 3,052.3 million. By 2033, the market for Alzheimer's treatments is predicted to grow at a 9.2% compound annual growth rate to reach US$ 7,359.7 million.
The Alzheimer’s therapeutics industry is a vital part of the healthcare sector, focusing on developing effective treatments for Alzheimer's disease. Several drivers contribute to the growth of the industry. One key driver is the increasing prevalence of Alzheimer's disease worldwide.
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According to the World Health Organization, there are over 50 million people with dementia worldwide, which is expected to triple by 2050. Additionally, there is a growing demand for new and innovative treatments for Alzheimer's disease due to the lack of effective therapies available.
Several restraints are also there that hinder the growth of the Alzheimer’s therapeutics industry. One significant constraint is the high cost of developing new therapies.
The drug development process for Alzheimer's disease is long and expensive, with many drugs failing in clinical trials. Additionally, regulatory requirements are becoming more stringent, increasing the cost and time required for drug development.
There are also several opportunities for Alzheimer’s therapeutics market growth. The development of biomarkers is one such opportunity, as they can help researchers identify key biological events related to the disease and drug candidates for treatment. Furthermore, there is a growing trend toward personalized medicine, which offers a promising avenue for developing targeted therapies based on individual genetic and biological profiles.
The latest trend in the industry is the use of digital therapeutics. Digital therapeutics involve using technology to deliver treatments for various diseases, including Alzheimer's. This technology can include apps, virtual reality, and other digital tools that provide cognitive and behavioral therapies for patients.
The potential for digital therapeutics to improve patient outcomes and reduce healthcare costs is a driving force behind their adoption in the industry.
“The Alzheimer’s Therapeutics Market is witnessing a surge in research and development, with pharmaceutical companies striving to address the growing demand for effective treatments in the face of an aging global population. Ongoing innovation and clinical trials are at the forefront of the market, as it seeks to offer new hope for patients and families affected by this debilitating neurodegenerative disease," opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights.
Key Takeaways:
- In 2022, the United States ruled the global Alzheimer’s therapeutics market with a share of 94% in 2023.
- During the projection period, Germany is expected to thrive at a CAGR of roughly 21.6% in the European Alzheimer's therapeutics market.
- In 2022, China held a 41.2% market share in East Asia for Alzheimer's treatments.
- The Donepezil segment dominated the market with a CAGR of 9.2% and around 68.4% share in 2022.
- In 2022, the cholinesterase inhibitors segment held a 90.9% revenue share.
- With a 33.8% market share in 2022, hospitals are likely to hold the top spot.
Alzheimer’s Therapeutics Market Report Coverage:
| Attribute | Details |
| Forecast Period | 2018 to 2022 |
| Historical Data Available for | 2023 to 2033 |
| Market Analysis | US$ million for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa |
| Key Market Segments Covered | Drug Name, Drug Class, Distribution Channel, and Region |
| Key Companies Profiled |
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Which Trends Are Influencing the Competition in the Market?
The competitive landscape for the Alzheimer's therapeutics industry is highly fragmented and competitive. Several established players and new entrants are in the market, each vying for a significant market share.
Key players in the industry include Pfizer Inc., Eisai Co., Ltd., Novartis AG, Teva Pharmaceutical Industries Ltd., and Johnson & Johnson, among others. These companies are engaged in developing, producing, and distributing Alzheimer's therapeutic drugs globally.
To stay at the top of the market, key players focus on several strategies, such as mergers and acquisitions, strategic partnerships, and collaborations. For instance,
- In 2019, Roche announced a partnership with AC Immune to develop and commercialize therapeutics for Alzheimer's disease.
- In 2020, Biogen announced its intention to acquire the Alzheimer's drug candidate, Aducanumab, which received FDA approval later that year.
Key players face several challenges in the market, such as high research and development costs, stringent regulatory requirements, and patent expirations despite the high level of competition. Patent expirations have led to the entry of generic versions of Alzheimer's drugs, leading to price erosion and impacting the revenue of key players.
The Alzheimer's Therapeutics industry presents significant investment opportunities for new entrants, particularly with the increasing prevalence of Alzheimer's disease and the growing demand for effective therapeutics.
The industry is also witnessing several technological advancements, including the development of novel biomarkers for therapeutic use and the use of artificial intelligence for drug discovery and development.
Alzheimer's Therapeutics Market Segmentation:
By Drug Name:
- Donepezil
- Rivastigmine
- Memantine
- Galantamine
- Manufactured a combination of memantine and donepezil
By Drug Class:
- Cholinesterase Inhibitors
- NMDA Receptor Antagonists
- Manufactured Combination
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Explore Future Market Insights, Inc. Extensive Coverage in Healthcare Market Domain:
- Alzheimer's Diagnostics and Therapeutics Market Sales: The global market is expected to enjoy a valuation of US$ 6.6 Billion by the end of the year 2023 and further expand at a CAGR of 8.4% to reach a valuation of ~US$ 14.8 Billion by the year 2033.
- Therapeutic Drug Monitoring Market Overview: The market is projected to record a CAGR of 9.7% during the forecast period, up from US$ 1.5 Billion in 2020 to reach a valuation of US$ 2.9 Billion by 2026.
- Neurodegenerative Disease Market Revenue: The market is anticipated to register a CAGR of 7% during the forecast period, up from US$ 43.7 Billion in 2021 to reach a valuation of US$ 92 Billion by 2032.
- Rare Disease Clinical Trials Market Review: The market size is projected to be valued at US$ 12,566.14 million in 2023 and is expected to rise to US$ 31,715.25 million by 2033.
- Autoimmune Disease Therapeutics Market Forecast: The global market is likely to be valued at US$ 71,466.47 million in 2023 and is predicted to secure a moderate-paced CAGR of 5.6% during the forecast period.
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