DUBLIN, January 25, 2023 /PRNewswire/ — The Alzheimer’s Drug Market Global Forecast 2023-2027 Industry Trends, Growth, Insights, Inflation Impact, Company Analysis report has been added to ResearchAndMarkets.com supply.
The global Alzheimer’s drug market is expected to be around 7.48 billion US dollars by 2027, according to the publisher. Alzheimer’s disease is a progressive brain disorder that daily destroys memory and reasoning skills over time.
We currently do not know any cause of Alzheimer’s disease. Instead, the disease is caused by genetic, lifestyle, and environmental components that affect the brain over time. In older people, Alzheimer’s disease is the most common source of dementia. According to the World Health Organization (WHO), Alzheimer’s disease contributes to 60-70% of dementia cases.
The global Alzheimer’s drug market is expected to grow at a CAGR of 7.71% during the forecast period 2022 to 2027.
The increasing incidence of Alzheimer’s disease in an older population, the increasing prevalence of chronic diseases, the increase in government spending on health care to improve research and development, and the rapid increase in the number of drugs that need to be approved in the coming years are some of the factors that will significantly contribute to the growth of the Alzheimer’s disease drug market.
However, rising R&D costs and continued non-performance, unreliability and interruption of clinical trials of Alzheimer’s drugs are restraining the growth of the Alzheimer’s disease market.
Donepezil drug market will grow more during the forecast period
On the basis of drug class, the Alzheimer’s disease drug market is segmented into; Donepezil, Galantamine, Rivastigmine, Memantine and others. The donepezil segment dominates the market share. Although donepezil does not cure dementia, it is known to treat the symptoms and help some forms of dementia.
The main reason behind the growth of this segment is the best pharmacological treatment options it provides in terms of mental enhancement. Donepezil has a response rate of 40%-58%, with an incidence of side effects of 6%-13%.
Galantamine segment is also expected to grow during the forecast period. Galantamine improves mental performance in individuals with Alzheimer’s, other dementia-causing disorders, and age-related memory loss due to vascular disease. According to this research report, the global Alzheimer’s drug market was estimated at 5.16 billion US dollars in 2022
The hospital sector will generate more revenue in the coming years
The end user segment is bifurcated into; Hospitals, clinics, nursing homes and home care. The hospital segment dominates the market share, thanks to the increase in hospitalizations of the elderly population and Alzheimer’s patients.
According to the Alzheimer’s Association, there are an estimated 518 hospitalizations per 1,000 Medicare recipients in senior citizens with Alzheimer’s or another dementia, compared to 234 hospitalizations per 1,000 Medicare recipients without these conditions. The home care segment will witness significant growth during the forecast period. Home care has emerged as an alternative to hospital stay as it is a cheaper means of treatment.
North America holds the largest market share in the near future
On the basis of region, the Alzheimer’s disease market is segmented into; North America, Europe, Asia-Pacific region, and the rest of the world. The growth of the North American region can be attributed to the increase in the geriatric population and the increase in research activities for the treatment of Alzheimer’s disease.
According to the Alzheimer’s Association, in 2016, about 5.4 million Americans of all ages had Alzheimer’s disease. One in nine people over the age of 65 has Alzheimer’s disease. The number of people aged 65 and older affected by Alzheimer’s disease is estimated to nearly triple from 5.2 million to an estimated 13.8 million by 2050.
The Asia-Pacific region the region is expected to show significant growth during the forecast period. The reason for this growth is the growing awareness among the common people regarding health care and the increase in research projects to develop drugs to treat Alzheimer’s disease.
Moreover, increasing elderly population in various East Asian countries is also expected to contribute to the growth of the market in the region. According to the 2019 World Aging Report. Japan there were 35.5 million people over the age of 65, and the number is expected to be around 37.3 million by 2030.
Analysis of key players
According to this report, the key players in the market are Sanofi SA, F. Hoffmann-La Roche Ltd., Pfizer, Inc., Abbott Laboratories, Bayer, Merck & Co., Boehringer Ingelheim GmbH, GlaxoSmithKline Plc., Novartis, Eli Lilly and Company and Teva Pharmaceuticals.
In addition, investments in research and development and the introduction of new products into the market are part of the plans undertaken by the companies to obtain more significant market share. For example, in May 2018Eli Lilly and Company and AC Immune have joined forces to develop a new treatment for Alzheimer’s disease using AC Immune’s Morphomer platform.
Main topics covered:
2. Research methodology
4. Market dynamics
4.1 Growth drivers
5. Global Alzheimer’s Drug Market
6. Market Share – Alzheimer’s Drug Market
6.1 By drug class
6.2 By End User
6.3 By Region
7. Drug Class – Alzheimer’s Drug Market
8. End User – Alzheimer’s Drug Market
8.3 Nursing home
8.4 Home Care Setting
9. Region – Alzheimer’s Drug Market
9.1 North America
9.3 Asia and the Pacific
9.4 Rest of World
10. Key Players Analysis
10.1 Sanofi SA
10.1.2 Recent Developments
10.1.3 Net Sales
10.2 F. Hoffmann-La Roche Ltd
10.2.2 Recent Developments
10.2.3 Net Sales
10.3 Pfizer Inc
10.3.2 Recent Developments
10.3.3 Net Sales
10.4.2 Recent Developments
10.4.3 Net Sales
10.5 Bayer AG
10.5.2 Recent Developments
10.5.3 Net Sales
10.6 Merck & Co. Inc
10.6.2 Recent Developments
10.6.3 Net Sales
10.7 Boehringer Ingelheim GmbH
10.7.2 Recent Developments
10.7.3 Net Sales
10.8 Glaxosmithkline Plc
10.8.2 Recent Developments
10.8.3 Net Sales
10.9 Novartis AG
10.9.2 Recent Developments
10.9.3 Net Sales
10.10 Eli Lilly & Company
10.10.2 Recent Developments
10.10.3 Net Sales
10.11 Teva Pharmaceutical Industries Ltd
10.11.2 Recent Developments
10.11.3 Net Sales
For more information on this report, visit https://www.researchandmarkets.com/r/go2ggi
Media contact: Laura Wood | +353-1-481-1716 | [email protected]
See original content: https://www.prnewswire.com/news-releases/insights-on-the-alzheimers-drugs-global-market-to-2027—hospital-sector-will-capture-more-revenue- in the coming years-301730765.html
SOURCE Research and Markets