Albany, NY -- (SBWire) -- 09/22/2017 --According to Transparency Market Research (TMR), the global Alzheimer's drugs market is expected to exhibit a consistent 7.5% CAGR in the 2017-2025 forecast period. The market's revenue was valued at more than US$3.6 bn in 2017 and is expected to rise to US$6.4 bn by 2025.
By drug class, the global Alzheimer's drugs market is segmented into cholinergic, memantine, combined drugs, and others. Of these, memantine is likely to remain the leading contributor to the global Alzheimer's drugs market in the coming years, due primarily to the paucity of effective drug classes in several developing regions. Combined drug treatment is also likely to remain a key contributor to the global Alzheimer's drugs market in the coming years due to the growing recognition of its efficacy and rising availability in developed countries.
North America is likely to remain the leading regional segment of the global Alzheimer's drugs market in the coming years due to the presence of several leading players, which has made distribution easier in the region. The North America Alzheimer's drugs market garnered revenue of US$1.7 bn in 2017 and is likely to rise to more than US$3 bn by 2025 at a steady CAGR of 7.3%. The Asia Pacific Alzheimer's drugs market, on the other hand, is likely to exhibit the highest CAGR, at 8.6%, in the 2017-2025 forecast period, with the region expected to rise from a revenue valuation of US$1.1 bn to close to US$2.3 bn therein.
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The prime driver for the global Alzheimer's drugs market is the rising prevalence of the disease in developed Western countries. Several neurodegenerative diseases have risen in prevalence in countries such as the U.S. in recent years, leading to steady government support for drug development. This has resulted in a highly conducive atmosphere for the Alzheimer's drugs market in North America, leading to steady growth of the market in countries such as the U.S.
The rising awareness about neurodegenerative diseases in developing regions such as Asia Pacific is likely to be a key contributor to the global Alzheimer's drugs market in the coming years. In several countries in Southeast Asia, awareness about Alzheimer's disease remains limited, which has resulted in unstable healthcare systems and unsupportive research infrastructure. The high prices of advanced Alzheimer's drugs have also held back the Alzheimer's drugs market in underdeveloped countries in Asia Pacific. The growing support for mental care infrastructure from governments in several developing Asia Pacific countries is thus likely to drive the Alzheimer's drugs market in the region in the coming years.
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Allergan plc and Novartis AG dominated the global Alzheimer's drugs market in 2016, their global market presence attributable to acquisitions of leading emerging brands. Other key players in the global Alzheimer's drugs market include Eisai Co Ltd, H Lundbeck A/S, Daiichi Sankyo Company Limited, Ono Pharmaceutical Co Ltd, Merz Holding GmbH & Co KG, and Johnson & Johnson.
The wide scope for the Alzheimer's drugs market in emerging regions, due to lack of awareness about the disease in several underdeveloped countries, has made these regions crucial for global Alzheimer's drugs market players. However, players located in developed regions such as North America and Europe are likely to lead the global Alzheimer's drugs market in the coming years due to the widespread availability of Alzheimer's treatment channels in countries such as the U.S., Canada, the U.K., and Germany.
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Alzheimer's Drugs Market: Trends and Opportunities for the Industry by 2024
Transparency Market Research Report Added "Alzheimer’s Drugs Market" to its database.