LONDON--(BUSINESS WIRE)--The global alzheimer's drugs market is expected to grow at a CAGR of close to 2% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global alzheimer's drugs market for 2017-2021. The market is driven by the increasing incidence of Alzheimer's in the geriatric population. The CDC estimates that the prevalence of Alzheimer’s disease will triple among elderly patients, and the number of patients suffering from this disease will reach 13.8 million by 2050. Another major factor contributing to the growth of the market is the lack of disease-modifying drugs (DMDs).
“The lack of DMDs prolongs the treatment schedule for Alzheimer's disease, which in turn, increases the healthcare costs for patients, thereby driving the market. However, the launch of a safe and effective DMD that could modify the progression of the disease is expected to change the treatment strategies followed currently and will replace the existing drugs. This will increase the revenue generated by the Alzheimer's drugs market” says Sapna Jha, a lead central nervous system research expert from Technavio.
Technavio’s research analysts segment the global alzheimer's drugs market into the following regions:
- Americas
- EMEA
- APAC
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Alzheimer's drugs market in Americas
The global Alzheimer's drugs market was dominated by the Americas in 2016, accounting for a share of 55%. In the Americas, the US continues to remain the single largest regional market for Alzheimer's drugs. This market is expected to experience a high growth rate because of the high occurrence of Alzheimer's disease and the increasing coverage of this disease by Medicare. Medicare is an insurance program that covers people aged 65 and above or disabled younger individuals. Such reimbursement coverage by healthcare providers encourages more Alzheimer's patients to seek medical treatment, thereby driving market growth.
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Alzheimer's drugs market in EMEA
EMEA accounted for a market share of 25% in 2016. Western Europe, which comprises countries such as France, Germany, Italy, Spain, and the UK, contributed significantly to the overall growth of the market. The rise in the cases of Alzheimer's disease and an increase in awareness programs regarding the disease are the major factors contributing to this growth.
Also, major vendors, such as Eisai Pharmaceuticals, are striving for the development of next-generation Alzheimer's drugs, such as BACE inhibitors, which will further drive market growth upon the launch of their products.
Alzheimer's drugs market in APAC
APAC accounted for 20% of the global Alzheimer's drugs market in 2016. An increase in the awareness and the availability of better healthcare services have contributed to the growth of the market in the region.
“The emerging countries in APAC, such as China and India, offer an immense opportunity for leading players in this market as these countries comprise a large pool of under-served patients. China remains the world’s most populous country, followed by India,” says Sapna.
Drug vendors are increasingly focusing on emerging markets in Asia by launching their products. For instance, Eisai Pharmaceuticals launched various formulations of Aricept in Japan to maintain its market share. In addition, the company quadrupled the sales for Aricept in Indonesia by reducing the drug prices under an affordable pricing system in 2009. Such instances will help the region benefit from its largely untapped market, thereby, registering a quick growth during the forecast period.
The top vendors in the global Alzheimer's drugs market as highlighted in this market research analysis are:
- ALLERGAN
- Eisai Pharmaceuticals
- Johnson & Johnson
- Novartis
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