The global dementia drugs market size is expected to grow at a CAGR of 12.1% over the forecast period. Increasing prevalence of target disease and growing geriatric population suffering from these diseases are expected to promote growth of the market. According to the World Health Organization, around 50 million people have dementia, and there are nearly 10 million new cases every year which is anticipated to boost the industry growth.
The presence and development of pipeline drugs, such as ORAL PF-01913539 by Pfizer, are expected to have a strong positive impact on the growth of this industry. This drug is currently under Phase 3 clinical trial to evaluate its safety and efficacy in the treatment of mild-to-moderate Alzheimer's disease. The result of the clinical trial is expected to be announced in 2020. Other pipeline drugs include BAN2401 by Eisai Inc and Solanezumab by Eli Lilly, which are in Phase 3 of a clinical trial and are going to be launched over the next 6 years.
The increasing government funding for the target disease care, support, and research activities is estimated to fuel the growth of this industry. Various organizations involved in this activity include the National Institute of Health (NIH), Alzheimer's Association, and National Institute on Aging. In 2019, the NIH has spent around USD 387 million on research projects for Alzheimer's Disease Related Dementias (ADRD). These initiatives are anticipated to provide this market with growth opportunities.
Key Market Trends
The Alzheimer's Disease Segment Dominates the Market and is Expected to Continue the Same during the Forecast Period
Alzheimer's disease are expected to grow at a lucrative CAGR during the forecast period. The high prevalence of the diseases is due to the growing geriatric population base coupled with the weak immune system.
According to the World Health Organization, Alzheimer disease is the most common form of dementia and may contribute to 60-70% of cases.
Favorable supportive legislation by government such as National Alzheimer's Project Act (NAPA) offers a historic opportunity to combat Alzheimer's disease and related dementias. This acts aimed at public awareness & engagement and provide supports for people and their families with Alzheimer's disease and related dementias.
Recently, a new proposal known as Alzheimer's Combination Therapy Opportunities was introduced in collaboration of Alzheimer's Association, Alzheimer's Drug Discovery Foundation and Alzheimer's Society UK. This proposal includes a combination of repurposed or repositioned drugs that have the potential to slow down the progression of Alzheimer's and related dementia thereby boosting the segment growth.
The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America dominated with revenue estimated as a result of the presence of sophisticated healthcare facilities and infrastructure in developed countries, such as the U.S. High purchasing power for expensive drugs, reimbursement policies and increasing patient pool are the drivers projected to boost the market demand. As per the National Institute of Neurological Disorders and Stroke, Alzheimer's disease alone, as one dementia disorder, affects more than 5 million people in the U.S. The toll on individuals, caregivers and society is enormous and is expected to increase as the population ages. This aids in supplementing the regional growth.
Asia Pacific is expected to witness the fastest growth over the forecast period owing to the rising disposable income level. In addition, the high prevalence of the target diseases due to the growing geriatric population base coupled with the weak immune system is attributed to the growth of this industry. In developed economies such as Japan, and China there is high potential growth of the market due to the presence of private partnership projects and government initiatives undertaking various control programs. Hence, the market is expected to register a healthy CAGR over the forecast period.
The dementia drugs market is moderately competitive and consist of local as well as global players. The major players include companies such Apotex Inc, AstraZeneca, Auro Pharma, Eisai Co., Ltd, Eli Lilly and Company, Johnson & Johnson, Pfizer, Inc., Teva Pharmaceuticals, Zydus Pharmaceuticals.
In an attempt to enhance market position, the key players are now focusing on new product development, collaborations, and mergers & acquisition. For instance, in February 2020, Pfizer collaborated with JANSSEN Alzheimer Immunotherapy Research & Development, LLC for the development of Biological: ACC-001 so as to check safety and tolerability to reduce brain amyloid load as measured by positron emission tomography (PET) scans. This was carried out to expand the treatment options and gain competitive advantage.
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TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Target Disease
- 4.2.2 Introduction of New and Innovative Technologies and Drugs
- 4.2.3 Increased Government Funding & Awareness Programs
- 4.3 Market Restraints
- 4.3.1 High Failure Rates Of Drugs At Approval Stages
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Indications
- 5.1.1 Lewy Body Dementia
- 5.1.2 Parkinsons Disease Dementia
- 5.1.3 Alzheimer's Disease
- 5.1.4 Vascular Dementia
- 5.1.5 Others
- 5.2 By Drug Class
- 5.2.1 MAO Inhibitors
- 5.2.2 Glutamate Inhibitors
- 5.2.3 Cholinesterase Inhibitors
- 5.3 Geography
- 5.3.1 North America
- 184.108.40.206 United States
- 220.127.116.11 Canada
- 18.104.22.168 Mexico
- 5.3.2 Europe
- 22.214.171.124 Germany
- 126.96.36.199 United Kingdom
- 188.8.131.52 France
- 184.108.40.206 Italy
- 220.127.116.11 Spain
- 18.104.22.168 Rest of Europe
- 5.3.3 Asia-Pacific
- 22.214.171.124 China
- 126.96.36.199 Japan
- 188.8.131.52 India
- 184.108.40.206 Australia
- 220.127.116.11 South Korea
- 18.104.22.168 Rest of Asia-Pacific
- 5.3.4 Middle-East and Africa
- 22.214.171.124 GCC
- 126.96.36.199 South Africa
- 188.8.131.52 Rest of Middle-East and Africa
- 5.3.5 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Apotex Inc
- 6.1.2 AstraZeneca
- 6.1.3 Auro Pharma
- 6.1.4 Eisai Co., Ltd
- 6.1.5 Eli Lilly and Company
- 6.1.6 Johnson & Johnson
- 6.1.7 Pfizer, Inc.
- 6.1.8 Teva Pharmaceuticals
- 6.1.9 Zydus Pharmaceuticals
7 MARKET OPPORTUNITIES AND FUTURE TRENDS