Number of pages: 120 | Report Format: PDF | Published date: 01 March, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global Alzheimer's drugs market was pegged at US$ 4.5 billion in 2020 and is expected to witness a CAGR of 7.2% during the forecast period.
Alzheimer's disease is an irreversible, progressive brain disorder that slowly destroys memory, thinking skills and eventually the ability to carry out the simplest tasks. Alzheimer's is the most common cause of dementia. It accounts for 60-80% of dementia cases. Early-onset Alzheimer's occurs between 30s and mid-60s but is very rare. There's currently no cure for Alzheimer's disease. However, there are medications available that can temporarily reduce the symptoms.
The global Alzheimer's drugs market is mainly driven by rising prevalence of the Alzheimer's disease, strong product pipeline, growing public and private funding, government initiatives, and increasing awareness programs. Furthermore, increasing number of collaboration and partnership among prominent players is also likely to play a pivotal role in contributing to the growth of the market globally. However, high failure rates of drugs under clinical trials are likely to restrain the market growth to a certain extent.
The global Alzheimer's drugs market has been analyzed from three perspectives: Drug Type, Distribution Channel, and Region.
Alzheimer's Drugs Market by Drug Type
Based on drug type, the Alzheimer's drugs market has been segmented into NMDA receptor antagonists, cholinesterase inhibitors and others (combined drugs, monoclonal antibodies, etc.). The NMDA receptor antagonists segment consists of Memantine drug. Whereas cholinesterase inhibitors consist of Galantamine, Rivastigmine, and Donepezil drugs. The cholinesterase inhibitors segment dominated the market with the largest share in 2020. The growth of the segment can be attributed to the use of cholinesterase inhibitors as a first line treatment for mild to moderate Alzheimer's condition.
Alzheimer's Drugs Market by Distribution Channel
Based on distribution channel, the Alzheimer's drugs market has been segmented into hospital pharmacy, retail pharmacy, and online pharmacy. Online pharmacy segment is anticipated to be the fastest growing distribution channel during the forecast period owing to the rising adoption of online pharmacy in the recent years due to the easy accessibility, discounts provided, and the convenience of home delivery.
Alzheimer's Drugs Market by Region
Based on region, the global Alzheimer's drugs market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the Alzheimer's drugs market, followed by the Asia Pacific. The large share of North America in the global market can be attributed to the rising prevalence of Alzheimer's among geriatric population, rising initiatives by various public and private organizations, and presence of prominent players coupled with large number of drugs present in the pipeline.
Some of the prominent players operating in the Alzheimer's drugs market includes:-