The global
alzheimer’s therapeutics market is expected to reach USD 6.4 billion in
2024, according to a new report by Grand View Research. Some primary factors
driving the market growth includes rising government initiatives in order to
raise awareness levels among people.
Growing
knowledge about the Alzheimer’s disease (AD) and its high prevalence and
incidence in developing economies are few of the major drivers supporting the
market growth. Several governments, nonprofit, and private organizations
worldwide are actively engaged in increasing people’s awareness regarding
progressive AD, such as Alzheimer’s Association, the Alzheimer’s Society of
Canada, Alzheimer’s Europe organization, and various other small organizations.
Furthermore,
the increased government funding for providing better care and support to the
people with partial dementia is another important factor anticipated to enlarge
market growth. For instance, organizations like Florida Department of Health,
the National Institute of Health, and Alzheimer’s Association in partnership
with other private and government organizations provide funds to the research
centers.
The presence
of various pipeline drugs is anticipated to provide the market with potential
growth opportunities. For instance, LMTX by TauRx Pharmaceutical Ltd.;
idalopirdine (Lu AE58054) by Lundbeck; crenezumab by AC Immune SA; and BAN2401
by Eisai
Moreover,
novel therapeutics with minimal dosage requirement has been introduced
resulting in cost-effective alternatives, which is further expected to boost the
market growth. For instance, Namzaric by Actavis was developed in two forms: 10
mg and 28 mg. 10 mg requires to be administered twice a day, while 28 mg
requires to be administered once in a day.
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Further key findings from the study suggest:
- The cholinesterase inhibitors segment was dominant in 2013 but lost hold on the market till 2015. Patent expiry of key drugs such as Aricept, Exelon, and Razadyne was the major factor for decline in market share.
- Exelon transdermal patch is estimated to lose exclusivity in 2019. It is a highly prescribed drug for the treatment of mild to moderate AD, which contributed toward its revenue generation in 2015.
- N-methyl-D-aspartate receptor antagonist, on the other hand, is expected to witness a significant growth of around 16.0% over the forecast period owing to introduction of extended relase formulation of Namenda.
- Other drug therapies such as monocloclonal antibodies and drugs targeting Tau proteins are in being studied in latter phases of the clinical trials. Presence of a strong of pipeline drugs for target disease are attributing toward fastest growth of these drugs
- North America dominated the overall market in terms of revenue with share of over 33.0% in 2015, which is majorly facilitated by the availability of sophisticated healthcare facilities and infrastructure.
- Some key players operating in this industry are Pfizer, Inc.; Merck & Co. Inc.; Novartis AG; Eisai Co. Ltd., H. Lundbeck A/S, AC Immune; TauRx Pharmaceuticals Ltd.; Actavis plc.; Forest Laboratories; and Teva Pharmaceuticals Industries Ltd.
- Market players are expanding their product portfolio by developing and launching generic versions of drugs to sustain its market position. For instance, in 2015, Dr. Reddy’s Laboratories Ltd. and Mylan launched the generic version of Namenda (Forest laboratories – Actavis).
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