Rivastigmine is a cholinesterase inhibitor used for the treatment of mild to moderate dementia in Alzheimer's disease and Parkinson's disease. It works by inhibiting the breakdown of acetylcholine, increasing the level of this important neurotransmitter in the brain. With the rising prevalence of Alzheimer's disease across the globe, the demand for effective treatment options is growing significantly.
Market key trends:
The rising prevalence of Alzheimer's disease is one of the major drivers accelerating the growth of the rivastigmine market. Alzheimer's disease affects over 50 million people worldwide and this number is projected to triple by 2050 due to increasing life expectancy and aging population. According to the Alzheimer's Association, over 6 million Americans are currently living with Alzheimer's dementia and this number is projected to rise to nearly 13 million by 2050. Rivastigmine has proven efficacy in managing symptoms such as memory loss, communication problems, and difficulties with reasoning and judgment in mild to moderate Alzheimer's patients. Therefore, with growing Alzheimer's population, demand for rivastigmine is expected to increase significantly over the forecast period.
Segment Analysis
The global rivastigmine market is segmented into type and distribution channel. Based on type, the capsules segment holds the largest market share owing to the increasing preference for oral formulations over patches and injections. Capsules are easy to administer and have better patient compliance compared to other dosage forms.
Key Takeaways
The Global Rivastigmine Market Size is expected to witness high growth during the forecast period of 2024 to 2031. The market size is projected to reach US$ 594.78 Mn by 2024 from US$ 367.23 Mn in 2019, registering a CAGR of 10%.
Regional analysis: North America is expected to dominate the global rivastigmine market during the forecast period. Factors such as the rising geriatric population, growing incidence of Alzheimer's disease, and availability of advanced healthcare facilities are contributing to the large share of the North America region. The US holds a significant share owing to the presence of major players and increasing Alzheimer's disease related expenditure.
Key players: Key players operating in the rivastigmine market are Allergan, Inc.,Galderma SA,Merz Pharma GmbH & Co.,KGaA, Suneva Medical Inc.,Specialty European Pharma,Sinclair Pharma,Valeant Pharmaceuticals International Inc.,LifeCell Corporation,Dr. Korman Laboratories Ltd.,ForeverInject International Holdings Co. Limited. Allergan, Inc. holds a major market share owing to its diverse product offerings. Galderma SA is also a leading player in the market due to its strong brand presence and wide geographic footprint.
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