The Global Alzheimer’s Disease Treatment Market is predicted to grow at a CAGR of 12.9% during the forecast period, 2021 to 2028 and would reach the market value of US$ 6,412.3 Million by 2028. Alzheimer’s is a neurological disorder which kills the brain cells making the patient to lose their memory. Alzheimer’s is the most common form of dementia and is highly progressive, which means it gets worse gradually over time. Alzheimer’s make the patient lose their ability to think and do things on their own, the patient adapts impulsive behavior which is often unpredictable. Alzheimer’s disease was named by Dr. Alois Alzheimer in 1906. Certain features of the disorder are: presence of plaques & tangles in the brain, loss of nerve-cell connection which confuse the brain and it is unable to connect with other organs as the information doesn’t flows easily between different areas of the brain and to other organs as well. As the condition worsen, it becomes difficult for the patient to remember recent activities, and to even recognize people they know and the patient may need full-time assistance. Although the disease has no permanent cure, Early diagnosis and appropriate treatment prevent the disease from worsening. At present, Alzheimer’s disease is ranked as the sixth prime cause of death in the United States, recent surveys report the disorder may rank third, after heart disease and cancer, as a cause of death in older age people.
High prevalence of Alzheimer’s disease is the key factor for the hike in the global Alzheimer’s disease treatment market. Sparse awareness about Alzheimer’s in the developing countries is certain to boost the growth of the global Alzheimer’s disease treatment market in the forecast period. Also, upliftment in the demand of advanced diagnosis, technical advancements, affordable drugs and tests marks the hike in the growth of the global Alzheimer’s disease treatment market.
Alzheimer’s disease cannot be fully cured and sometimes even after proper diagnosis and treatment the condition worsens. Side-effects of the diagnosis, handling and managing the patient, High cost of the available drugs along with demanding diagnostic rates are some of the key factors which restraints the global Alzheimer’s disease treatment market.
North America dominates the Alzheimer’s disease treatment market. Key factors for the growth of the market involves high prevalence of the disease, increase in the cases which spreads awareness of early diagnosis, increase in the demand for advanced treatments and technical diagnostic tools provides excellent opportunities in the global Alzheimer’s disease treatment market.
Key factors which challenge the global Alzheimer’s disease treatment market is the high cost of diagnosis and treatment, along with risk of worsening the patient’s condition even after proper care, less availability of diagnosis & treatment in the developing region is also a challenge in the global Alzheimer’s disease treatment market.
Alzheimer’s disease treatment market is segmented on the basis of drug class and distribution channel. By drug class, the global Alzheimer’s disease market is segmented as cholinergic, memantine, combined drug, AChE inhibitors, and immunoglobulins. On the basis of distribution channel, the global Alzheimer’s disease market is segmented into hospital pharmacy, retail pharmacy, and online sales. Cholinergic drugs market will mark a hike as it is very efficient in delaying mental problems, for people suffering from mild to moderate Alzheimer’s disease. On the basis of distribution channel, hospital pharmacy is holding certain growth rate and is likely to stay in the position over the forecast period.
On the basis of region, the global Alzheimer’s disease treatment market is bifurcated into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA). The North America is further classified into U.S., Canada and Mexico. Europe is further segmented into Germany, U.K., France, rest of Europe. Asia-Pacific is segmented into China, Japan, India, rest of APAC. Currently, North America dominates the Alzheimer’s disease market due to the increasing prevalence of Alzheimer’s disease in the U.S.
Prominent players in the Alzheimer’s disease treatment market report are Allergan, Johnson & Johnson Services, Eisai Co Ltd., Eli Lilly and Company, Novartis AG, DAIICHI SANKYO COMPANY, LIMITED, Pfizer Inc., H. Lundbeck A/S, Biogen, Merz Pharma, AstraZeneca, F. Hoffmann-La Roche Ltd, VTV Therapeutics, TauRe, AC Immune, Teva Pharmaceutical Industries Ltd., AB Science, AbbVie Inc., Bristol-Myers Squibb Company, ONO PHARMACEUTICAL CO LTD, Takeda Pharmaceutical Company Limited., GENERAL ELECTRIC, and Bayer AG.
Market Segmentation and Scope of Alzheimer’s disease treatment Market