Alzheimer’s Drugs Market: Comprehensive Analysis and Forecast

Posted July 10, 2024 by ankitabarure

Alzheimer’s is a brain condition that causes a progressive decline in memory, organizing, learning, and thinking skills. It is the most common type of dementia.
The Alzheimer’s Drugs Market is anticipated to reach $9.62 billion by 2031, growing at a CAGR of 9.8% from 2024 to 2031. The market expansion is driven by the increasing global burden of Alzheimer’s disease, rising prevalence of risk factors, surge in research funding, introduction of innovative technologies, higher number of drug approvals, and a growing number of clinical trials and pipeline products. Additionally, research activities in developing countries, awareness programs, public and private initiatives, combination drug therapy, and advanced biomarkers and imaging techniques for diagnosis and management are expected to provide further growth opportunities.

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Market Growth Drivers
Increasing Burden of Alzheimer’s Disease Globally
Alzheimer’s disease, a neurodegenerative disorder causing progressive memory loss and cognitive decline, is the most common form of dementia. The prevalence of Alzheimer’s is rising due to factors such as aging populations, traumatic brain injuries, genetic factors, stress, and other lifestyle risk factors. According to the Alzheimer’s Association, the number of Americans aged 65 and older with Alzheimer's is expected to rise from 6.2 million in 2021 to 6.9 million in 2024. This growing prevalence is expected to drive demand for Alzheimer’s drugs.

Increase in Research Funding
To address the increasing need for effective Alzheimer's treatments, both public and private entities are significantly funding research. For example, Alzheimer’s and dementia research funding at the National Institutes of Health (NIH) increased from USD 2.8 billion in 2021 to USD 3.8 billion in 2023. Such funding boosts research activities aimed at understanding the disease pathology and developing new therapies.

Innovative Research and Clinical Trials
Key players are continuously involved in research and development, leading to the introduction of novel therapies and drugs. Examples include NeuroTherapia's NTRX-07 drug and UCSF's clinical trial combining anti-amyloid with tau therapies.

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Market Trends
Stem Cell Therapy
Stem cell therapy has emerged as a promising treatment for Alzheimer’s. These therapies aim to reduce amyloid β-protein deposition, potentially alleviating memory loss symptoms. Since the approval of the first stem cell therapy for Alzheimer’s in Japan in 2018, research in this field has intensified, with several therapies currently in clinical trials.

Telehealth in Alzheimer's Care
Telehealth offers a cost-effective and convenient alternative for Alzheimer's care, providing services like consultations, medication management, and follow-up appointments via video conferencing. This approach is particularly beneficial for patients in remote areas, enhancing adherence to treatment regimens and managing symptoms more effectively.

Market Opportunities
Combination Therapy
Combination therapy, which involves using two therapeutic agents together, shows promise in treating Alzheimer's disease. For instance, combining memantine with cholinesterase inhibitors has shown higher efficacy in clinical trials compared to monotherapy.

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Asia-Pacific is expected to register the highest growth rate of 11.4% during the forecast period. Key factors include a burgeoning pharmaceutical industry, supportive government initiatives, and substantial research funding in countries like China, India, and South Korea.

Key Companies
Leading players in the Alzheimer’s drugs market include Biogen, Novartis AG, F. Hoffmann-La Roche AG, AbbVie Inc., Teva Pharmaceutical Industries Ltd., Eisai Co., Ltd., SUPERNUS PHARMACEUTICALS, INC., H. Lundbeck A/S, AC Immune SA, Zydus Lifesciences Limited, Johnson & Johnson, and Daiichi Sankyo Company. These companies are recognized for their extensive product portfolios, strategic geographical presence, and robust growth strategies from 2020 to 2024.

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Issued By ankitab
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Last Updated July 10, 2024