Global Alzheimer's drugs market is expected to grow USD 5.09 billion by 2022, growing at a CAGR of 8% between 2017 and 2022.
Sarasota, FL -- (SBWIRE) -- 06/22/2018 -- Alzheimer's disease is a type of dementia which includes a broad category of brain diseases, such as problems with memory, thinking, and behavior for the long term. Alzheimer's disease is the cause of 60% to 70% of cases of dementia. Symptoms of Alzheimer's typically grow slowly and get worse by time; it becomes severe enough to interfere with daily tasks. The causes of Alzheimer's disease are not known. Many scientists believe that Alzheimer's disease is caused due to increase or accumulation of the protein amyloid in the brain (which may lead to nerve cell death) is suspected to play a role. Growing age is the principle risk factor for Alzheimer's disease, and the majority of people who are suffering from this disease are 65 and older. There are also genetic and other risk factors. Currently, there is no treatment which can stop the progress of Alzheimer's disease, but treatments for symptoms are available and research continues.
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According to Center for Disease Control and Prevention (CDC), in 2017 near about 5.5million Americans are suffering from Alzheimer's diseases. And it is a sixth leading cause of death for all adults. The market is mainly driven by growing occurrence of diseases in developed western countries. Also, the prevalence of a number of neurodegenerative diseases such as dementia has grown in countries such as the U.S. In addition to growing occurrence of diseases, steady government support for Alzheimer's drug development, growing awareness about the treatment of Alzheimer's disease is resulting in increased demand for Alzheimer's drugs market. Furthermore, growing support for mental healthcare infrastructure from governments in several developing Asia Pacific countries is thus likely to drive the Alzheimer's drugs market in the region in the coming years.
However, high prices of the advance drugs may create restraints in underdeveloped countries. Also, developing countries like Southeast Asia, awareness about Alzheimer's disease remains limited that has resulted in unstable healthcare systems and unsupportive research infrastructure. Owing to the growing support for mental care infrastructure from governments in several developing Asia Pacific countries is likely to drive the Alzheimer's drugs market in the region in the coming years.
The Alzheimer's Drugs Market is classified based on drug class, distribution channel, and region. On the basis of drug class market is divided into cholinergic, memantine and combined drug. Memantine drug type dominated the global market for Alzheimer's disease in 2016 due to the large-scale expiry of patents of major products and a restricted number of drugs to treat Alzheimer's disease. Memantine drug segment is expected to dominate the market in the coming years of the forecast period. Owing to the inadequate availability of the productive drug classes all over the globe, the cholinergic segment is also expected to contribute largely to the overall market share of the global market for Alzheimer's drug. And it is projected to expand at a healthy growth rate over the forecast period. On the basis of the distribution channel, the market is divided into hospital pharmacy, retail pharmacy, and online sales.
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Globally, demand for Alzheimer's drug is on the rise, with North America and Europe leading the way. By geography, North America dominates the Alzheimer's drug owing rising prevalence of disease across this region. North America will remain the leading regional segment of the global Alzheimer's drugs market in the coming years. This because of the presence of some leading players, which has made distribution easier in the region is the key factors responsible for the large share of this regional segment.
The Asia Pacific was a fastest growing market. Due to growing awareness about the treatment of Alzheimer's in the Asia-Pacific region this region is likely to be a key contributor to the global Alzheimer's drugs market in the coming years. Latin America is another key regional market and is expected to moderate growth in the coming years owing to rising healthcare infrastructure and rising awareness among the people. The Middle East and Africa are anticipated to witness significant growth within the forecast period.
Some of the key players in Alzheimer's Drugs Market include Ono Pharmaceutical, Johnson & Johnson, Daiichi Sankyo Company Limited, H Lundbeck A/S, Eisai Co Ltd., and among others.
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