May 2, 2024
Alzheimer's Drugs Market
Healthcare

Alzheimer’s disease is a neurodegenerative disorder that currently affects an estimated 45 million people worldwide. As the global population ages, especially in developed economies, the prevalence of Alzheimer’s and other forms of dementia is rising significantly. By 2050, the number of people living with dementia worldwide is projected to triple and reach 152 million. The rising geriatric population, coupled with increased life expectancy, is the major driver of the global Alzheimer’s disease therapeutics market. Alzheimer’s drugs are medications that are used to slow down the progression of Alzheimer’s disease and relieve its symptoms. The most common Alzheimer’s drugs approved by regulatory agencies includeNamzaric, Exelon, Aricept, Razadyne, and Nuedexta. These drugs work by enhancing the neurotransmitter acetylcholine in the brain and by stabilizing levels of other neurotransmitters like dopamine and norepinephrine. As the disease progresses, these medications temporarily help cognitive functions like memory and thinking get better or stay the same for a limited period of time. The global Alzheimer’s Drugs Market is estimated to be valued at US$ 4.86 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the major trends witnessed in the global Alzheimer’s drugs market is the rising focus on combination therapy. Traditionally, monotherapies were the standard of care for Alzheimer’s disease. However, combination therapies targeting multiple pathways implicated in disease pathology are gaining favor. For instance, companies are evaluating drugs combining NMDA receptor antagonists with acetylcholinesterase inhibitors. Combination therapies hold promise to more effectively manage symptoms and potentially slow disease progression compared to single pathway targeting drugs. Ongoing research aims to establish combination therapies as a more efficacious treatment paradigm for Alzheimer’s disease. Porter’s Analysis Threat of new entrants: The threat of new entrants in the Alzheimer’s Drugs Market is moderate due to the need for extensive R&D and resources required for drug development. Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of substitute drugs and treatment options. Bargaining power of suppliers: The bargaining power of suppliers is moderate since there are many raw material suppliers available. Threat of new substitutes: The threat of new substitutes is high as research continues for better treatment options. Competitive rivalry: The competitive rivalry is high among existing players to develop new drugs with better efficacy and safety. Key Takeaways The global Alzheimer’s Drugs Market Share is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis reveals that North America currently dominates the market owing to high awareness and healthcare expenditure. Europe is also a major market boosted by supportive reimbursement policies. Asia Pacific is expected to be the fastest growing region on account of rising aging population and increasing healthcare spending. Key players operating in the Alzheimer’s Drugs market are AstraZeneca, GlaxoSmithKline plc, Pfizer Inc., Clovis Oncology, Inc., and Tesaro (acquired by GlaxoSmithKline). AstraZeneca’s drug BAN2401 and Pfizer Inc.’s drug aducanumab are some of the key pipeline products that are under development and have potential to capture significant market share. Collaborations between pharmaceutical companies and clinical research organizations are also expected to aid market growth over the forecast period.

Karan Mukherjeeby Karan Mukherjee

Alzheimer’s disease is a progressive neurological disorder that slowly destroys memory and thinking skills. It is the most common cause of dementia – a group of brain disorders that result in the loss of cognitive abilities to such an extent that it interferes with daily life and activities. Currently, there are no treatments available to delay or stop the progression of Alzheimer’s disease. The existing drugs such as donepezil, rivastigmine, and memantine are only for symptom management and treatment of behavioral symptoms associated with the disease. However, researchers across the globe are increasingly investing in research and development activities for discovering disease-modifying drugs that could slow or stop the progression of Alzheimer’s. The increase in research and development investment is expected to drive significant growth in the global Alzheimer’s drugs market.

The global Alzheimer’s Drugs Market is estimated to be valued at US$ 4.86 Bn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The increase in R&D investment for disease modifying drugs is one of the major drivers augmenting the growth of global Alzheimer’s drugs market. Various pharmaceutical companies and research institutes have ramped up investments towards research and clinical trials exploring new drug targets and pathways for developing effective disease-modifying treatments. For instance, Biogen received approval for its disease-modifying drug Aduhelm (aducanumab) in 2021 and Eli Lilly is currently conducting phase 3 clinical trials for its antibodies drug donanemab. Such ongoing research and new drug approvals are fueling the market growth. Second driver is increasing prevalence of Alzheimer’s disease globally. As per Alzheimer’s Association, around 6.5 million Americans of all ages have Alzheimer’s dementia in 2022. The number is projected to rise to around 13 million by 2050. The surging incidence rate of Alzheimer’s presents lucrative opportunities for pharmaceutical manufacturers in the market.

Segment Analysis

The global Alzheimer’s Drugs market is dominated by disease-modifying drugs segment which accounts for over 50% share of the total market. This is because disease-modifying drugs aim to slow down or stop the progression of Alzheimer’s by targeting the biological processes that are believed to underlie the disease such as amyloid beta and tau proteins. The approved drugs belong to this segment includes drugs such as Namzaric, Namenda, and Exelon.

PEST Analysis

Political: Governments across major countries are focusing on increasing healthcare spending for Alzheimer’s research which is positively impacting the market growth. For instance, the US government provides funding for Alzheimer’s research through National Institute on Aging.
Economic: Rising geriatric population prone to neurodegenerative diseases and growing awareness about early diagnostics is fueling the market growth. However, high treatment cost of drugs remains a challenge.

Social: Growing social stigma associated with Alzheimer’s is increasing awareness regarding early detection and management of the disease. Support groups are also helping patients and caregivers cope with the condition.
Technological: Biomarkers and neuroimaging technologies are playing a vital role in early and accurate diagnosis of Alzheimer’s disease before symptoms appear. Advancements in drug discovery offer potential treatment options.

Key Takeaways

The global Alzheimer’s Drugs Market is expected to witness high growth during the forecast period.

Regionally, North America dominates the market currently due to high healthcare spending and presence of major players. Europe and Asia Pacific are fastest growing markets owing to increasing geriatric population susceptible to neurodegenerative diseases.

Key players operating in the Alzheimer’s Drugs market are AstraZeneca, GlaxoSmithKline plc, Pfizer Inc., Clovis Oncology, Inc., Tesaro. Key players like AstraZeneca are continuously focusing on developing new drug candidates targeting major pathologies of Alzheimer’s disease.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Karan Mukherjee

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