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Alzheimer's Drugs Market Overview 2024-2033 - Market Research, Insights, Demand and Outlook
Alzheimer's Drugs Market Overview
As per the report, the alzheimer's drugs market size has grown strongly in recent years. It will grow from $8.64 billion in 2023 to $9.44 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The alzheimer's drugs market size is expected to see strong growth in the next few years. It will grow to $13.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
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Rising Prevalence Of Alzheimer'S Disease To Drive Market Growth
The rising prevalence of Alzheimer's disease is expected to propel the growth of the Alzheimer's drugs market going forward. Alzheimer's disease is a neurologic condition that worsens over time and causes both brain shrinkage and cell death. Drugs for Alzheimer's disease are used to treat memory loss, problems with thinking and reasoning, and difficulties with everyday living. Drugs for Alzheimer's can enhance the quality of life and help maintain independence. For instance, in June 2020, according to the 2022 Alzheimer's Disease Facts and Figures report by The Alzheimer's Association, a US-based non-profit and voluntary health organization in Alzheimer's care, support and research. In 2022, there were 6.5 million Americans 65 and older who have Alzheimer's disease. About 1 in 9 Americans (or 10.7% of the total population) who are 65 or older have Alzheimer's disease. The percentage of those who have Alzheimer's disease rises with age: 5.0% of those between the ages of 65 and 74, 13.1% of those between the ages of 75 and 84, and 33.2% of those beyond the age of 85. By 2050, there are expected to be 88 million Americans aged 65 and older, up from 58 million in 2021. Therefore, the increasing prevalence of Alzheimer's disease is driving the growth of the Alzheimer's drugs market.
Technological Advancements Driving Innovation In Alzheimer'S Drugs Market
Technological advancements have emerged as a key trend gaining popularity in the Alzheimer's disease market. Major companies operating in the Alzheimer's disease market are focused on innovating new technologies to sustain their position in the market. For instance, in January 2021, iMediSync, a South Korea-based healthcare platform company, launched iSyncBrain, an EEG digital biomarker for early Alzheimer's dementia diagnosis on their AI cloud platform. They also provide customized NIR-LED neuromodulation using their future cutting-edge headset, iSyncWaveTM, to increase neural activity, employing AI analytics and brain mapping techniques. To prevent dementia in the preclinical stage, the iSyncBrain® MCI classifier screens and distinguishes between amnestic moderate cognitive impairment (MCI) of the Alzheimer or non-Alzheimer type. This has undergone multicenter clinical testing with over 90% accuracy rates.
The alzheimer's drugs market covered in this report is segmented -
1) By Drugs: Donepezil, Rivastigmine, Galantamine, Memantine
2) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
3) By Application: Early To Moderate Stages, Moderate To Severe Stages
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Major companies operating in the alzheimer's drugs market report are AbbVie Inc., Daiichi Sankyo Company Limited, F Hoffmann-La Roche AG, Merck & Co Inc., Novartis AG, Biogen Inc., AstraZeneca PLC, Eisai Co Ltd., Eli Lilly and Company, H Lundbeck A/S, Pfizer Inc., Allergan PLC., Johnson & Johnson, Lupin Pharmaceuticals Inc., Actiza Pharmaceutical Private Limited, Neurotrope Inc., AC Immune SA, Adamas Pharmaceuticals Inc, Alzheon Inc., Anavex Life Sciences Corp, Axsome Therapeutics Inc., Cassava Sciences Inc., Cognition Therapeutics Inc., Cortexyme Inc., Denali Therapeutics Inc, EIP Pharma Inc., Enlivex Therapeutics Ltd., FORUM Pharmaceuticals Inc., Genentech Inc., Green Valley Pharmaceuticals LLC, Intra-Cellular Therapies Inc., Karuna Therapeutics Inc., Neurim Pharmaceuticals Ltd .
Contents of the report:
1. Executive Summary
2. Alzheimer's Drugs Market Report Structure
3. Alzheimer's Drugs Market Trends And Strategies
4. Alzheimer's Drugs Market - Macro Economic Scenario
5. Alzheimer's Drugs Market Size And Growth
…..
27. Alzheimer's Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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