The Rivastigmine Market is trending by increasing applications in Alzheimer's disease treatment
Rivastigmine capsules and transdermal patches are the commonly available formulations that help inhibit the breakdown of acetylcholine in the brain and improve communication between nerve cells. It helps reduce symptoms like impaired thinking, memory loss, confusion, and impaired judgement.
The Global Rivastigmine Market is estimated to be valued at US$ 594.78 Mn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
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. The key players are involved in strengthening their product portfolios by launching new formulations and indications.
Growing incidences of Alzheimer’s and Parkinson’s disease globally are expected to boost the demand for rivastigmine products over the forecast period. Unmet medical needs of tackling memory loss, impaired thinking, and confusion associated with these neurological conditions present opportunities for manufacturers.
Rising consumer awareness regarding disease management and increasing focus of pharmaceutical companies on emerging economies present lucrative growth prospects. The market players are focused on expanding their geographical presence across Asia Pacific, Latin America, and Middle East & Africa.
Market Key Trends
One of the prominent trends in the Rivastigmine Market Size is the launch of generic and biosimilar medications. Many prominent patents for branded rivastigmine formulations have expired providing opportunities for generic manufacturers to launch affordable treatment options. This has resulted in price erosion and improved accessibility of rivastigmine therapies. Additionally, manufacturers are focused on developing new delivery formulations like transdermal patches and mouth dissolving films to improve patient compliance over conventional capsules.
Porter’s Analysis
Threat of new entrants: The threat is moderate as capital investment required is high and key players have established global distribution channels. Bargaining power of buyers: Buyers have high bargaining power due to availability of alternative treatment options. Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials require specialized production processes and there are fewer suppliers. Threat of new substitutes: Threat of new substitutes is moderate as alternative treatments options are available for target diseases but rivastigmine provides incremental clinical benefits. Competitive rivalry: Rivalry is high among key global players due to intense competition.
Geographical Regions
North America accounts for the largest share in the global rivastigmine market in terms of value, owing to the availability of reimbursement and supportive healthcare infrastructure. The lucrative market in the US continues to drive the North America rivastigmine market.
Asia Pacific region is projected to witness the fastest growth during the forecast period. Increasing penetration of novel pharmacotherapies, rising healthcare spending, and expanding patient pool of Alzheimer's and Parkinson’s diseases are major factors fueling the Asia Pacific market. Improvements in healthcare facilities and spread of medical insurance across emerging countries also boost the regional market growth.
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