Alzheimer's disease is a progressive brain disorder that gradually destroys memory and thinking skills. The drugs associated with Alzheimer's disease aims to temporarily slow the worsening of dementia symptoms such as memory loss and improve thinking skills. Drugs to treat Alzheimer's symptoms include cholinesterase inhibitors and memantine. The global Alzheimer's Drugs Market is estimated to be valued at US$ 4.86 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of Alzheimer's diseases is one of the key trends driving the growth of the Alzheimer's Drugs Market. It is estimated that over 6 million Americans are living with Alzheimer's disease in 2023 and this number is expected to rise dramatically in coming years. As per Alzheimer's association report, someone in the United States develops Alzheimer's disease every 65 seconds and by 2050, nearly 13 million Americans are expected to have Alzheimer's disease. The increasing geriatric population who are more prone to neurodegenerative diseases like Alzheimer's is contributing to the growth of the market. Furthermore, increasing R&D activities from major players to develop disease modifying drugs for Alzheimer's is also fueling the market growth.
Segment Analysis
The global Alzheimer's Drugs Market is dominated by the cholinesterase inhibitors sub-segment. These drugs work by inhibiting the breakdown of acetylcholine, a chemical messenger important for memory and thinking, in the brain. They are preferred for mild to moderate Alzheimer's disease as it has shown some benefit in improving symptoms and delays their worsening. However, research is still ongoing for safe and effective treatments for later stages of Alzheimer's disease.
Key Takeaways
The global Alzheimer's drugs market is expected to witness high growth.
Regional analysis: The North America region currently dominates the global market and is expected to continue its dominance over the forecast period. This can be attributed to the increasing prevalence of Alzheimer's disease and growing awareness about available treatment options in countries like the US and Canada.
Key players operating in the Alzheimer's drugs market are AstraZeneca, GlaxoSmithKline plc, Pfizer Inc., Clovis Oncology, Inc., and Tesaro (acquired by GlaxoSmithKline).
For more insights, read- https://www.ukwebwire.com/alzheimers-drugs-market-trends-size-and-share-analysis/
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