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The latest report by IMARC Group, titled “Alzheimer’s Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global Alzheimer’s drugs market demand. The global Alzheimer’s drugs market size reached US$ 7.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.11% during 2023-2028.
Alzheimer’s drugs refer to pharmaceutical medications specifically designed to alleviate the symptoms and slow down the progression of Alzheimer’s disease, a degenerative neurological condition primarily affecting memory, cognition, and daily functioning. These drugs aim to address the underlying chemical imbalances and structural changes in the brain associated with Alzheimer’s. Commonly prescribed medications for Alzheimer’s include cholinesterase inhibitors such as donepezil, rivastigmine, and galantamine, which enhance communication between brain cells by increasing the levels of acetylcholine, a neurotransmitter crucial for memory and learning. Another class of drugs includes N-methyl-D-aspartate (NMDA) receptor antagonists like memantine, which regulate glutamate, a neurotransmitter that becomes excessively active in Alzheimer’s patients.
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Alzheimer’s Drugs Market Trends and Drivers:
The aging population worldwide is a significant driver; as individuals age, the risk of developing Alzheimer’s increases. The demographic shift toward older populations in many countries fuels the demand for Alzheimer’s drugs. Additionally, heightened awareness about Alzheimer’s disease among patients and caregivers has led to early diagnosis and treatment, driving the demand for Alzheimer’s drugs. Other than this, increasing healthcare expenditure, particularly in developed countries, allows for greater investment in Alzheimer’s drug research, development, and access. Besides this, government agencies and organizations in various countries are funding research initiatives and providing support for Alzheimer’s drug development, accelerating progress in this field. In line with this, ongoing research into the underlying mechanisms of Alzheimer’s disease is leading to the identification of potential drug targets. This encourages pharmaceutical companies to invest in drug development. Furthermore, government agencies and organizations in various countries are funding research initiatives and providing support for Alzheimer’s drug development, accelerating progress in this field. Moreover, regulatory agencies like the FDA in the United States provide pathways for expedited review and approval of promising Alzheimer’s drugs, encouraging investment in research. Competition among pharmaceutical companies to develop effective Alzheimer’s drugs is driving innovation. Companies are investing in clinical trials and research to gain a competitive edge in this lucrative market.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Drug Class:
Donepezil
Galantamine
Rivastigmine
Memantine
Others
Breakup by Distribution Channel:
Hospital Pharmacy
Retail Pharmacy
Online Stores
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
AbbVie Inc.
AstraZeneca PLC
Biogen Inc.
Daiichi Sankyo Company Limited
Eisai Co. Ltd.
Eli Lilly and Company
H. Lundbeck A/S
F. Hoffmann-La Roche AG
Merck & Co. Inc.
Novartis AG
Ono Pharmaceutical Co. Ltd.
Pfizer Inc
Teva Pharmaceutical Industries Limited
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