Dementia Drugs Market To Boom Across The Globe By 2026 Eisai, Novartis AG, Sanofi S.A., AstraZeneca GmbH

Dementia is one of the most prevalent neurodegenerative diseases in which patients suffer from various behavioral changes, as a primary symptoms such as decline in memory or other thinking skills and can gets worse as condition progresses. It majorly affects people of aged 65 years and above. Currently, there is no curative therapy available for dementia disease. However, drugs for dementia therapy are in pipeline, which are expected to be launched in the near future, in turn propelling growth of the dementia drugs market.

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Market Dynamics

Increasing aging population along with its associated complications is the major driving factor for growth of the dementia drugs market. For instance, according to Centers of Disease Control and Prevention (CDC), 2013, five million people were suffering from AD and the number is expected to rise up to 14 million by 2050, in the U.S. Moreover, according to World Health Organization (WHO), 2017, around 47 million people suffer from dementia and around 10 million new cases are reported annually. Increasing incidence of dementia coupled with growing demand for therapy is expected to favor growth of the dementia drugs market in the near future.

Increasing number of pipeline products is expected to drive growth of the dementia drugs market

Major factors fueling growth of the dementia drugs market include the large number of drugs in the pipeline, which are expected to enter into the market by 2020-2022. According to the study published by Translational Research and Clinical Intervention, in September 2017, it is recorded that 105 new drugs in pipeline, out of which 25 are in phase one, 52 in phase two and 28 are in phase three. These new products use novel approaches such as immunotherapy to target amyloid beta, beta-site amyloid precursor protein cleaving enzyme 1 inhibitors, tau aggregation inhibitor, and serotonin 5-HT6 receptor antagonist. Furthermore, increasing collaborations amongst companies for developing drugs in joint efforts is also boosting growth of the market.

Increasing incidence of Alzheimer’s disease worldwide is expected to drive growth of the dementia drugs market. According to World Alzheimer Report in 2016, around 46.5 million people were suffering from Alzheimer’s disease, the number for which is projected to reach 50 million by 2017. Increasing geriatric population is also a major risk factor for growing incidence of Alzheimer’s disease, which in turn boosts growth opportunity for dementia drugs market. For instance, according to World Population Prospects (WPP) published by United Nations in 2017, around 962 million people aged 60 years and above were recorded, which accounted for 13 percent of the global population. The number is projected to reach 1.4 billion by 2030, exhibiting annual growth rate of 3 percent. Europe accounts for the largest geriatric population (25% of population) in 2017, Asia Pacific also had geriatric population of 547 million people in 2017 and it is projected to reach 900 million by 2025. These regions thus show potential opportunity for growth of the market.

Competitive Landscape

Key players covered as a part of this study include Eisai, Inc., Janssen Pharmaceuticals, Inc., Biogen Pharmaceuticals, Forest Laboratories, Inc., Eli Lilly and Company, Novartis AG, Sanofi S.A., AstraZeneca GmbH, F. Hoffmann-La Roche, Merck & Co., Inc., Valeant Pharmaceutical International, Pfizer Inc., and Teva Pharmaceuticals Industries Ltd

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Detailed Segmentation:

Global Dementia Drugs Market, By Drug Class:
MAO Inhibitors
Cholinesterase Inhibitors
Glutamate Inhibitors

Global Dementia Drugs Market, By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Others

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This release was published on openPR.