New York, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Causing disability majorly among older people, Alzheimer’s disease contributes to 60-70% of dementia cases, currently amounting to around 50 million cases globally. Around 10 million new cases are recorded every year – World Health Organization
Research Nester published a detailed report on Global Alzheimer’s Treatment Market that has been categorized by market size, growth indicators and encompasses detailed market analysis on opportunities, trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region over the period of 2018-2027.
Growing advancements in ever-evolving medical technologies over the years have resulted in remarkable discoveries, further leading to development of effective medicines, treatments and therapies. Alzheimer’s treatment is one such field where continuous research and clinical trials have led to the development of various effective treatments that are not just limited to discovery of drugs but also cognitive trainings and therapies. On the back of continuous research and advancement in medical science to find potential new treatments and helping patients manage their behavioural symptoms, the global Alzheimer’s treatment market is estimated to touch USD 2008.17 Million in 2027 by growing at a CAGR of 7.44% over the forecast period, i.e., 2020-2027.
Presence of healthcare infrastructure and growth of healthcare sector as a whole is one of the major factors contributing to the growth of the market. Regionally, the Alzheimer’s treatment market in North America holds the highest share and is estimated to bring in revenue of around USD 500 Million in 2020 owing to the rapid expansion of its healthcare sector and rising cases of Alzheimer’s disease in the region.
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According to the Centers for Disease Control and Prevention, Alzheimer’s is among the top 10 leading causes of deaths in the United States. The death rate for the disease has increased significantly in the U.S. over the past few years. More than 122k deaths were reported in the country due to Alzheimer’s disease in 2018. Highly prevalent among the people with age group of 85 and above, around 5.7 million people are living with Alzheimer’s Disease in the U.S.
In the United States, the healthcare sector accounts for approximately 16% of the country’s total GDP. The expenses generated by Alzheimer’s and other dementias are estimated to cross USD 300 Billion in 2020. Additionally, the increase in the number of healthcare facilities guaranteed an easy access to treatment options, thus acting as a driving force behind the growth of the Alzheimer’s treatment market. At present, there are more than 6,100 hospitals operating in the country. On account of the recent advancements in the healthcare industry, the influx of patients with Alzheimer’s Disease has increased in the past few years in the United States. These factors are some of the major growth indicators behind the notable expansion of Alzheimer’s treatment market in North America.
The growing investments in the healthcare sector has raised a significant amount of funds for the current research projects. This has enabled the healthcare providers and researchers to discover a molecule that has the ability to act against the protein causing Alzheimer’s Disease. According to the W.H.O. (World Health Organization), the health spending in the low-income countries was USD 41 a person in the year 2017, whereas the healthcare spending in the high-income countries was USD 2,937 in the same year. The regions with the highest level of spending include North America, Oceania and Western Europe, whereas, West, Central and East Africa are the regions with lowest levels of spending, closely followed by South Asia. Moreover, increasing research and development activities have led to the discovery of various drugs which are still in the pipeline, and are expected to hit the market over the next few years. These drugs are anticipated to provide effective treatment to the patients living with Alzheimer’s Disease worldwide.
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The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
On the basis of medical device, the market is bifurcated into wearable and non-wearable devices, out of which, the non-wearable device segment is estimated to hold highest stance throughout the forecast period, whereas, the wearable device segment is estimated to expand with highest growth rate of around 11% during the same period. A number of technological advancements have been made in the recent years in order to develop devices for patients living with Alzheimer’s disease providing them advanced “in-home” treatment. Along with these, several GPS location and tracking devices have also been developed in the recent years to locate and contact the patient. Additionally, the wearable devices offer information about the movement, heart rate, pattern of sleep, among others, which has further attracted a significant number of patients.
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The global Alzheimer’s treatment market is also segmented on the basis of drug class, distribution channel and end-user
Global Alzheimer’s Treatment Market, Segmentation By Drug Class
- Standalone Drugs
- Cholinesterase Inhibitors
- Donepezil (Aricept)
- Galantamine (Razadyne)
- Rivastigmine (Exelon)
- N-Methyl-D-Aspartate (NMDA) Antagonist
- Combination Drugs
Global Alzheimer’s Treatment Market, Segmentation By Distribution Channel
- Online
- Offline
- Hospital Pharmacy
- Retail Pharmacy
Global Alzheimer’s Treatment Market, Segmentation By End-User
- Hospitals
- Clinics
- Nursing Homes
- Home-Care Settings
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Alzheimer’s disease affects majorly older people and cause emotional distress to carers and family members of people with this disease and with no definitive cure at the moment, there is high hope and reliability on the medication and treatment options available that can temporarily treat moderate to severe symptoms. Numerous giant healthcare leaders are focused on investing highly on R&D activities and are collaborating with other players for the development of advanced methods for diagnosis and treatment of Alzheimer’s Disease. For instance, in December 2019, Eli Lily announced the results obtained from its experimental drug treatment for Alzheimer’s using Solanezumab drug. Through the initial result, it was found out that the drug failed to slow the mental and physical decline in patients with mild to moderate Alzheimer’s, however, the secondary analysis indicated 34% reduction of cognitive decline of patients with mild form of disease. Some of the prominent industry leaders mentioned in our report that are associated with the Alzheimer’s treatment market are Neuroem Therapeutics Inc., Neuronix, Daiichi Sankyo Company Limited, H. Lundbeck A/S, Pfizer Inc., Abbvie Inc., Eli Lilly and Company, Allergan Inc., and Janssen Pharmaceuticals Inc. among other market players.
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