Global Alzheimer's Drugs Market: Developed Nations Witnessing High Growth on account of Increasing Occurrence of Neurodegenerative Diseases, says TMR
Albany, NY -- (SBWIRE) -- 03/21/2018 -- The global Alzheimer's drugs market has a huge scope of growth in developing nations on account of limited awareness about this disease in various underdeveloped nations. According to a report by Transparency Market Research (TMR), players within the market which are based in Europe and North America are expected to lead in the coming years on account of the widespread presence of treatment channels for Alzheimer's across nations such as the UK, Germany, Canada, and the US. Companies within the market that led in 2016 include: Allergan plc and Novartis AG. These two players have expanded their global market presence through acquisitions of emerging brands. Names of some of the other key players in the global Alzheimer's drugs market include H Lundbeck A/S, Eisai Co Ltd, Daiichi Sankyo Company Limited, Merz Holding GmbH & Co KG, Ono Pharmaceutical Co Ltd, and Johnson & Johnson.
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According to Transparency Market Research, the global market opportunity for Alzheimer's drugs is expected to scale to US$6.4 bn by 2025 after being worth US$3.6 bn in 2017, exhibiting a CAGR of 7.5% between 2017 and 2025. By geography, it is anticipated that North America will continue to remain in its leading position even in the years to come on account of the presence of several leading players. The presence of prominent players in the region has helped in easy distribution of treatment channels thereby helping the market to grow in this region. The North American Alzheimer's drugs market is expected to rise from US$1.7 bn in 2017 to reach an evaluation of US$3 bn by 2025, expanding at a CAGR of 7.3% from 2017 to 2025. The report predicts that the Asia Pacific Alzheimer's drugs Market will expand at the highest pace, exhibiting an 8.6% CAGR between 2017 and 2025. The market in Asia Pacific is estimated to be worth US$2.3 bn in 2025 after being worth US$1.1 bn in 2017.
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Combined Drug Therapy and Memantine to Make Significant Contribution to Revenues
On the basis of drug class, it is expected that memantine which led in the past will continue to do so in the years to come. TMR also predicts that combined drug treatment will also contribute significantly to the revenue of the global Alzheimer's drugs market in the coming years on account of the increasing realization and awareness about the efficiency of combined therapy. The increasing availability of combined therapy is also expected to be a reason behind its increased demand.
Support Received from Governments in Developed Nations to Drive Growth of Alzheimer's Drugs Market
One of the most important factors boosting the growth of the global Alzheimer's drugs market is the increasing prevalence of this disease among the elderly in the developed nations in the West. This market also receives a healthy support from governments across developed nations on account of the rising occurrence of neurodegenerative diseases in these nations. This in turn has led to the development of new drugs and therapies which has helped in the development and growth of the global Alzheimer's drugs market subsequently. The atmosphere is especially conducive for the Alzheimer's drugs market in North America. In addition to this, the increasing awareness about neurodegenerative diseases among the developing nations and Asia Pacific will also fuel the growth of the global Alzheimer's drugs market in the years to come.
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High Cost of Advanced Drugs to Restrict the Growth of Market in Cost-sensitive Countries in Asia Pacific
As a result of limited awareness about Alzheimer's disease in several countries in the southeast of Asia, the research infrastructure in this part of the world remains underdeveloped for Alzheimer's. In addition to this the high cost of advanced drugs for the treatment of Alzheimer's has also deterred the cost sensitive regions and underdeveloped nations in Asia Pacific from adopting these drugs. On a bright side however, things are changing and governments are increasingly supporting mental care infrastructure across several developing nations of Asia Pacific and this is expected to overcome the impact of the above mentioned restraint and help the market to grow in this region in the years to come.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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