Renub Research has recently released a report named “Alzheimer’s Drugs Market, Global Forecast 2023-2027, Industry Trends, Growth, Insight, Impact of Inflation, Company Analysis” providing a detailed industry analysis that consists of market share insights. In addition, the report covers research on competitors and areas and current advancements in the Alzheimer’s Drug Market. The Alzheimer’s Drug Market shall expand at a CAGR of nearly 7.71%.Alzheimer’s is a degenerative neurological disorder causing cognitive decline, memory loss, and behavioural changes, accounting for 60-80% of dementia cases. Its exact causes are unknown but may involve genetic, environmental, and lifestyle factors, leading to brain cell damage, shrinking of brain tissue, and protein build-up. While no cure exists, treatments can improve quality of life and delay symptom onset with early detection and care.
Dementiastatistics.org estimates that approximately 55.2 million individuals worldwide are affected by dementia, with the majority being individuals over 60.The rising incidence of Alzheimer’s disease, particularly among the aging population, has led to a higher demand for Alzheimer’s drugs as the global population ages. In addition, the high unmet medical needs for more effective treatments, advancements in research and development of new medications and treatment options, and government initiatives and funding for research have all contributed to the growth of the Alzheimer’s drug market. However, Alzheimer’s disease is poorly understood, which makes it challenging to develop effective drugs targeting its underlying mechanisms. In addition, high clinical trial failure rates and strict regulatory processes limit drug approval, while the expenses of medicines and limited insurance coverage limit access for some patients. Alzheimer’s drug market will achieve a value of US$ 7.48 Billion by 2027, attributed to factors such as a rising incidence of Alzheimer’s disease, an expanding elderly population, and substantial gaps in medical treatment
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Alzheimer’s drug market for Donepezil drug shall grow further during the forecast period
Donepezil is an acetylcholinesterase inhibitor utilized in the treatment of Alzheimer’s disease, and the increasing prevalence of the disease, the aging population, and the high unmet medical needs primarily drive its growth in the Alzheimer’s drug market. The drug is one of the most commonly prescribed medications for Alzheimer’s disease and has demonstrated significant benefits in managing cognitive symptoms in patients. In addition, ongoing research, and development activities to improve the effectiveness of Donepezil and expand its applications in treating other neurological disorders are also contributing to its market growth.
Product – Alzheimer’s Drug Market breakup from 5 viewpoints
Dominance of the hospital segment in the market can be due to the increasing hospitalization rates of older individuals and patients with Alzheimer’s disease
The increasing prevalence of Alzheimer’s disease among the aging population has led to more patients requiring hospitalization and specialized care. Additionally, hospitals have advanced medical facilities that can provide more effective and comprehensive treatment for Alzheimer’s patients. Moreover, hospital-based treatment approaches for Alzheimer’s are becoming more widely adopted, as hospitals can offer various services such as diagnostics, medication management, and rehabilitation. Lastly, supportive government initiatives aimed at improving hospital infrastructure and providing better healthcare services for the older and patients with Alzheimer’s disease have also contributed to the dominance of the hospital segment in the Alzheimer’s drug market.
End User – Alzheimer’s Drug Market breakup from 4 viewpoints
3. Nursing homes
4. Homecare Centres
North America shall have the largest market share in the Alzheimer’s drug market
North America’s leading position in the Alzheimer’s drug market can be due to its large aging population, which increases the risk of developing the disease. According to the American Association, over 6 million Americans of all ages have Alzheimer’s, with a gauge of 6.7 million Americans age 65 and older living with the disease in 2023. Of those, 73% are 75 or older, and around 1 in 9 people 65 and older (10.7%) have Alzheimer’s.
North America’s dominance in the Alzheimer’s drug market is due to several reasons, such as its well-developed healthcare infrastructure, advanced medical facilities, skilled workforce, and high level of awareness and education about Alzheimer’s disease. Additionally, the region has an intense research and development base for Alzheimer’s drugs, with many pharmaceutical companies and academic institutions conducting research in this field. Supportive government initiatives and funding for Alzheimer’s research and treatment have also contributed to North America’s leadership in the Alzheimer’s drug market.
Region – Alzheimer’s Drug Market breakup from 4 Regions
1. North America
4. Rest of the World
All the key players in the Alzheimer’s drug market businesses invest in research and development activities and introduce new products to expand their share in the Alzheimer’s drug markets.
All key players have been covered from 3 viewpoints:
3. Financial Insight
1. Sanofi SA
2. F. Hoffmann-La Roche Ltd.
3. Pfizer, Inc.
4. Abbott Laboratories
6. Merck & Co.
7. BoehringerIngelheim GmbH
8. GlaxoSmithKline Plc.
10. Eli Lilly and Company
11. Teva Pharmaceuticals
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