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Alzheimer’s Therapeutics Market Expected to Reach $13 Billion by 2031—Allied Market Research

 
2022
Alzheimer’s Therapeutics Market

Report Code : A10535

quote Alarming rise in prevalence of Alzheimer cases, rise in government & private funds for development of healthcare sectors, and emphasis of key players in development of novel therapeutics are expected to contribute towards the growth of the global Alzheimer’s therapeutics market quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Alzheimer’s Therapeutics Market," The Alzheimer’s therapeutics market size was valued at $6.1 billion in 2021, and is estimated to reach $13 billion by 2031, growing at a CAGR of 8.1% from 2022 to 2031.

Alzheimer’s disease is a type of brain disease. The neurons damaged in the parts of the brain can be responsible for memory, language, and thinking. As time passes, more neurons are damaged and more areas of the brain are affected. In the mild stage of Alzheimer’s disease, most people are able to function independently in many areas but are likely to require assistance with some activities to maximize independence. In moderate stage, individuals experience more problems with memory and languages, and are more likely to become confused. Moreover, some individuals lose their ability to communicate verbally.

The major factor that drives the growth of the Alzheimer’s therapeutics market is the increase in life expectancy, rise in ageing population, and changes in lifestyle. In addition, the growth is associated with rapid improvement in medical infrastructure, increase in scientific studies associated with the treatment and monitoring of Alzheimer's disease, as well as significant government and private sector funding in the Alzheimer's research is driving the market growth. According to the National Library of Medicine, it is projected that the cost of Alzheimer’s disease therapeutics is set to increase $2 trillion by 2030. Thus, rise in cost of drugs for the treatment of Alzheimer’s disease drives the growth of the market. Furthermore, according to The Lancet Commission 2020 report on dementia prevention, intervention, and care recommends to address the physical and mental health care, and, management of neuropsychiatric symptoms. Thus, rise in initiatives taken by private organizations for the management of Alzheimer’s disease drives the growth of the market.

Moreover, increase in prevalence of genetic disease significantly contributes toward the growth of Alzheimer's therapeutics industry, owing to rise in number of drug approvals acts a key driving force of the global market. Furthermore, governments of many countries are taking multiple initiatives to develop various awareness programs, which is one of the major ongoing Alzheimer's therapeutics market trends. For instance, in April 2021, Amneal has acquired Kashiv Specialty Pharmaceuticals, this acquisition aim to gained the pipeline of 505 (b) 2 branded products and complex generics for the management of neurological diseases such as Alzheimer’s disease. Thus, rising number of product approval drives the growth of the Alzheimer’s therapeutics market.

According to Alzheimer’s Association, in 2022, it is estimated that there are 6.5 million cases of Alzheimer’s disease with aged 65 and older in the U.S. The percentage of individuals suffer from Alzheimer’s disease increases with age: 5:0% of people age between 65 and 74, 13.1% of people age 75 to 84, and 33.2% of people with the age 85 and older. In addition, as per the same source, the number of people with age 65 and older with Alzheimer’s disease is projected to reach 13.8 million, barring the development of medical care breakthrough to prevent or cure Alzheimer’s disease. Thus, rise in older population in the world led to increase in prevalence of Alzheimer’s disease significantly augment the growth of the market.

In addition, according to Center for Disease Control and Prevention 2019, it was estimated that approximately 121,499 people died from Alzheimer’s disease.  Moreover, as per Chicago Health and Aging Project study in 2020, it was estimated that 700,000 people with age 65 and older died from Alzheimer’s disease. Thus, rise in incidences of individuals suffering from Alzheimer’s disease is anticipated to boost the growth of the market.

Moreover, development of pharmaceutical industries and improvement in healthcare spending are anticipated to drive the growth of the Alzheimer’s therapeutics market.  Thus, presence of innovative product lines fuels the growth of the Alzheimer’s therapeutics market.However, patent expiry of Alzheimer’s therapeutics are expected to restrain the market growth. Conversely, huge market potential in the emerging markets, such as China and India, and increase in healthcare expenditure in developing countries are expected to provide lucrative opportunities to the market players

The Alzheimer's therapeutics market size is studied across by drug class, distribution channel, and region. By drug class the market it is categorized into Cholinesterase inhibitors, N-methyl D-Aspartate Receptor Antagonist, and others. By distribution channel it is divided into hospital pharmacy, drug stores & retail pharmacy, and online pharmacy. By region, the Alzheimer's therapeutics industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By drug class, the market is segmented into Cholinesterase inhibitors, N-methyl D-Aspartate Receptor Antagonist, and others. The cholinesterase inhibitors segment generated the highest revenue in 2021 and the others segment shows highest CAGR during the analysis period.

By distribution channel, the market is categorized into hospital pharmacy, drug stores & retail pharmacy, and online pharmacy. Drug store & retail pharmacy is the highest revenue-generating segment in the Alzheimer’s therapeutics market, during the analysis period. However, online pharmacy is recorded to be the fastest growing segment and tend to flourish during the forecast period.

By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest Alzheimer's therapeutics market share in 2021, and is expected to remain dominant throughout the forecast period, owing to increase awareness among the consumers for the adoption of Alzheimer’s therapeutics, and heavy investment in the research and development field is anticipated to drive the growth of the market. However, with rise in government initiatives for the management of Alzheimer’s disease in Asia-Pacific is anticipated to be the fastest growing during the forecast period.

KEY FINDINGS OF THE STUDY

  • According to Alzheimer's therapeutics market analysis, among drugs class, the cholinesterase segment held largest market share in 2021
  • By distribution channel, the drug store & retail pharmacy segment held largest market share in 2021, and is expected to remain dominant throughout the forecast period.
  • By region, North America accounted for largest share of the global Alzheimer’s therapeutics market in 2021. Asia-Pacific is expected to grow at the highest CAGR during the Alzheimer's therapeutics market forecast

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quote Alzheimer’s Therapeutics Market by Drug Class (Cholinesterase inhibitors, N-Methyl-D-Aspartate (NMDA) receptor antagonist, Others), by Distribution Channel (Hospital Pharmacy, Drug Store and Retail Pharmacy, Online Pharmacy): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

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