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Increasing prevalence of Alzheimer’s disease is fueling the demand for Alzheimer’s drugs which in turn is driving the global market, says Fortune Business Insights in a report, titled “Alzheimer’s Disease Drug Market Size, Share and Global Trend by Drug Class (Cholinesterase Inhibitors, N-Methyl-D-Aspartate (NMDA) Antagonist, Combination Drugs, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), and Geography Forecast till 2026.”
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Rising RandD activities by pharmaceutical companies and research institutes for Alzheimer effective therapy is expected to boost the global Alzheimer’s disease drugs market.
List of key companies mentioned in Alzheimer’s Disease Drug Market report,
The Collaboration Between Eli Lilly andAC Immune Will Aid Growth
Eli Lilly and CompanyandAC Immune SAannounced their partnership agreement to research and develop tau aggregation inhibitor small molecules for the potential treatment of Alzheimer’s disease (AD) and other neurodegenerative diseases. The collaboration between the two companies is predicted to benefit Alzheimer’s drugs revenue owing to the Morphomer™platform technology which will offer commercial capabilities in central nervous system disorders along with AC Immune’slead molecule, ACI-3024.
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Furthermore, the development of digital tools for Alzheimer’s disease and dementia is also expected to contribute to the global Alzheimer’s drugs growth. For instance, the Alzheimer’s Drug Discovery Foundation (ADDF), announced a new initiative -Diagnostics Accelerator program that aims to track the development of digital tools for Alzheimer’s disease and dementia.
Increasing RandD Investments by Pharmaceutical Companies Will Propel Growth
The active study of Alzheimer’s drug by pharmaceutical industries and research institutes for creating a strong pipeline for effective therapy is predicted to encourage growth of the global Alzheimer’s drugs market. According to the World Health Organization (WHO) currently, 50 million people are affected by dementia, and the number is expected to increase during the forecast period.
In addition, the increasing cases of Alzheimer’s disease around the world have led towards high demand for Alzheimer’s drugs, which in turn is boosting the global Alzheimer’s drugs growth. However, discontinuation of clinical trials for Alzheimer’s drugs by leading pharmaceutical companies which is resulting in limited treatment options and thus creating a global economic burden by increasing the nation’s annual treatment cost against Alzheimer’s drugs development and disease treatment. This factor is predicted to hamper the growth of the global Alzheimer’s Disease Drug Market during the forecast period.
For instance, Eisai and Biogen, Co., Ltd., declared the termination of phase 3 clinical trial of ENGAGE and EMERGE designed to evaluate the safety and efficacy in the treatment of Alzheimer’s disease.
Major Segmentation include,
By Drug Class
By Distribution Channel
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Increasing Prevalence of Alzheimer’s Disease Will Boost Growth in North America
Geographically, the global Alzheimer’s Disease Drug Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The global Alzheimer’s Disease Drug Market is predicted to expand in North America during the forecast period owing to the rising cases of Alzheimer’s disease and the presence of key players in the region.
According to Alzheimer’s Association, currently, 5.8 million Americans are living with Alzheimer’s, and the number is expected to increase to 14 million by 2050, which is expected to promote the growth of the Alzheimer’s drugs market in North America. Europe is predicted to grow significantly during the forecast period owing to the increasing prevalence of Alzheimer’s disease.
Improving diagnostic capabilities are also expected to boost the market in the region. Evolving healthcare infrastructure and rising awareness regarding Alzheimer’s disease are expected to contribute significantly to Alzheimer’s disease drugs growth in Asia Pacific and Latin America.
Additionally, Alzheimer’s drugs market in Middle East and Africa is in the nascent stage; however, unmet needs for Alzheimer’s disease is expected to drive the Alzheimer’s Disease Drug Market in this region.
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