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| Alzheimer's Drugs Market |
Alzheimer's disease is a progressive brain disorder that gradually destroys memory and thinking skills. The drugs associated with Alzheimer's disease aims to temporarily slow the worsening of dementia symptoms such as memory loss and improve thinking skills. Drugs to treat Alzheimer's symptoms include cholinesterase inhibitors and memantine. 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 key trends:
The rising prevalence of Alzheimer's diseases is one of the key trends driving
the growth of the Alzheimer's Drugs Market. It is estimated that over 6 million
Americans are living with Alzheimer's disease in 2023 and this number is
expected to rise dramatically in coming years. As per Alzheimer's association
report, someone in the United States develops Alzheimer's disease every 65
seconds and by 2050, nearly 13 million Americans are expected to have
Alzheimer's disease. The increasing geriatric population who are more prone to
neurodegenerative diseases like Alzheimer's is contributing to the growth of
the market. Furthermore, increasing R&D activities from major players to
develop disease modifying drugs for Alzheimer's is also fueling the market
growth.
Segment
Analysis
The global Alzheimer's
Drugs Market is dominated by the cholinesterase inhibitors sub-segment.
These drugs work by inhibiting the breakdown of acetylcholine, a chemical
messenger important for memory and thinking, in the brain. They are preferred
for mild to moderate Alzheimer's disease as it has shown some benefit in
improving symptoms and delays their worsening. However, research is still
ongoing for safe and effective treatments for later stages of Alzheimer's
disease.
Key Takeaways
The global Alzheimer's drugs market is expected to witness high growth.
Regional
analysis: The North America region currently dominates the global market and is
expected to continue its dominance over the forecast period. This can be
attributed to the increasing prevalence of Alzheimer's disease and growing
awareness about available treatment options in countries like the US and
Canada.
Key players
operating in the Alzheimer's drugs market are AstraZeneca, GlaxoSmithKline plc,
Pfizer Inc., Clovis Oncology, Inc., and Tesaro (acquired by GlaxoSmithKline).
For more insights, read- https://www.ukwebwire.com/alzheimers-drugs-market-trends-size-and-share-analysis/
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