Alzheimer’s disease (AD) is an irreversible neurodegenerative disease of the brain, which leads to memory loss and other cognitive functions. The symptoms of Alzheimer's disease generally begin to first appear in patients in their mid-sixties, with symptoms appearing at varying stages. According to the United Nations Population Fund, the people aged over 60 make up for 12.3% of the world’s population, which is estimated to exceed to almost 22% by 2050. With this rising geriatric population, the global market for Alzheimer’s drugs market is estimated for a robust growth rate during the forecast period of 2016 to 2024.
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This report on the global Alzheimer’s drugs market is a comprehensive study, which analyzes all the factors that are primed to influence the growth rate during the forecast period, as well as catches the latest trends and other developments. The report also includes profiles of some of the key companies currently operational in Alzheimer’s drugs market, exploring their market share, product portfolio, and other recent updates.
Apart from the rising geriatric population, which is the key market driver in the market for Alzheimer’s drugs, growing female population is another factor favoring the market. Research shows that women have a higher risk of contracting Alzheimer’s disease as they age. Moreover, the increase in spending and investments in the global Alzheimer’s drugs market has sustained over the past few years is in need of a greater thrust in order to obtain the necessary research and development efforts. Other dynamics of the global Alzheimer’s drugs market analyzed by the report are the pipeline drugs that are currently in development.
The report observes the lack of effective choices available for treatment of Alzheimer’s disease is among the factors that may hinder the growth rate. According to the report, the global Alzheimer’s drugs market is very limited in terms of available medicines, as only a handful are officially approved for use. Although this opens up the global Alzheimer’s disease market for new players, the current scenario remains drier. Other restraint experienced in the global Alzheimer’s drugs market’s growth are the issues faced in precise diagnosis and even detection of Alzheimer’s disease, and the overall lack of funding for research purposes.
Despite the fact that there is a high degree of failure and uncertainty within the research and development of AD drugs, the number of drugs in the pipeline is considerably high at 559. The report finds that most of the pipeline products are novel drugs, with a total of seven repositioned and five generic drugs. This indicates towards the advancement in the progression of the different molecules.
Currently, North America contributes the maximum demand for Alzheimer’s drugs, owing to robust healthcare infrastructure and high awareness levels, which leads early detection of the disease, especially in the development economies of the U.S. and Canada. However, the region of Asia Pacific, which resides nearly half of the world’s population, is expected to extend the demand exponentially during the forecast period. Emerging economies such as Russia, India, China, and Australia have high unmet medical needs.
Aricept, Namenda, Exelon and Ebixa, Aricept, Pfizer Inc., Forest Laboratories, Inc., Eisai Co., Ltd., Novartis AG, and H. Lundbeck A/S are some of the prominent companies currently operational in the global Alzheimer's drugs market.
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