In 2023, the market for therapeutics for Alzheimer’s disease is expected to reach a value of US$3,052.3 million. By 2033, it is expected that the market for Alzheimer’s treatments will grow at a CAGR of 9.2% and reach US$7,359.7 million.
Alzheimer’s Therapeutics is the most common reason for progressive dementia in the elderly population. There has been an exponential rise in the number of cases of Alzheimer’s Therapeutics worldwide emphasizing the necessity for developing an effective treatment. According to Alzheimer’s Association, in 2016, an estimated 5.4 million Americans of all ages have Alzheimer’s disease.
One in nine people aged 65 and above has Alzheimer’s disease. By 2050, the number of people aged 65 and above affected with Alzheimer’s disease is expected to nearly triple, from 5.2 million to an expected 13.8 million, excluding the development of medical Alzheimer’s Therapeutics advances to avert or cure the disease.
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A list of Key Players Covered in the Alzheimer’s Therapeutics Market are:
- AbbVie, Inc.
- Teva Pharmaceuticals Ltd.
- Eisai Co., Ltd.
- Janssen Pharmaceuticals, Inc. (Johnson & Johnson)
- Novartis AG
- Zydus Lifesciences Ltd (CADILA)
- Sun Pharmaceutical Industries Ltd.
- Dr. Reddy’s Laboratories Ltd
- Aurobindo Pharma Ltd
- Amneal Pharmaceuticals Inc.
- Macleods Pharmaceuticals Ltd.
The mortality rates due to Alzheimer’s Therapeutics are quite high. Between 2000 and 2013, deaths due to heart disease, stroke and prostate cancer decreased by 14%, 23% and 11%, respectively, while deaths from ALZHEIMER’S THERAPEUTICS increased by 71% in the U.S. Similarly, According to Alzheimer’s Therapeutics International in 2015, there are an estimated 46.8 million people worldwide living with dementia and is further expected to grow in future. Thus, there is an increase in the demand for Alzheimer’s therapeutics and diagnostics worldwide.
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Population ageing across the globe is a major factor driving the market for Alzheimer’s therapeutics and diagnostics. Rising life expectancy is contributing to quick increases in the number of the aged population. In addition, is associated with increased prevalence of chronic diseases like dementia.
Therapies for alzheimer’s therapeutics offer temporary and uncertain improvements in the well-being of individuals, and none of the approved drugs can modify the course of the disease Alzheimer’s Therapeutics cement. Thus, the magnitude of the affected population and the lack of suitable and effective treatment offers an incredible opportunity for drug manufacturers.
However, the identification of the primary reasons and mechanisms involved in alzheimer’s therapeutics is limited. Drug manufacturers have been unable to validate the significant clinical benefits of treatment for numerous new compounds due to strict regulations. One of the significant trends observed in this market is the collaboration of the existing players.
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Precisely, diagnostic technology companies are carefully trying to bring about effective biomarker technologies to support and improve the drug development process for potential drug candidates, which is further expected to propel the demand.
The Alzheimer’s Therapeutics and Diagnostics market has seen segmented by therapeutics, diagnostics, imaging technologies and geography. The market for therapeutics includes biomarkers, Cholinesterase inhibitors and NMDA receptor antagonists. Based on diagnostics the market has been segmented into brain imaging and blood tests. The market for imaging technologies includes structural imaging, functional imaging and molecular imaging.
Geographically, the market has been segmented as North America, Europe, Asia Pacific, Latin America, Middle East & Africa and the Rest of the World. North America was observed to be the largest market for Alzheimer’s Therapeutics and Diagnostics due to the increasing prevalence of Alzheimer’s Therapeutics with the rise in the ageing population, and extensive technological Alzheimer’s Therapeutics advancements in the region. With the increase in the ageing population developing region of Asia Pacific, this market is expected to grow at a maximum rate during the forecast period.
Developing countries are expected to offer lucrative opportunities for this market. According to Alzheimer’s Therapeutics International in 2015, 58% of people with dementia live in developing countries, but by 2050 this will rise to 68%. The fastest growth in the elderly population is taking place in China, India, and their south Asian and western Pacific region.
According to World Alzheimer Report in 2015, regional estimations of dementia prevalence in people aged 60 years and over vary from 4.6% in Central Europe to 8.7% in North Africa and the Middle East, however, all other regional estimates fall in a relatively between 5.6% and 7.6%.
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The key manufacturers operating in the market are AbbVie Inc., AC Immune SA, Allergan PLC, Amarantus Bioscience Holdings, Anavex LifeSciences, Avid Radiopharmaceuticals, Axon Neuroscience, Axovant Sciences, Daiichi Sankyo Co, Eli Lilly, F. Hoffmann La Roche AG, GE Healthcare, Janssen Pharmaceuticals etc. They have applied strategies, such as mergers & acquisitions, partnerships, joint ventures, agreements, and others to have a strong foothold in the market.
Report by FMI is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. FMI nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to Alzheimer’s Therapeutics Vance with their mission-critical priorities with confidence.
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