The global Alzheimer’s disease diagnostics and therapeutics market has been found witnessing a CAGR of 6.7%. The key factors propelling the growth of this market are increasing prevalence of chronic diseases like dementia, increasing pipeline drug development, investment in biomarkers for drug development and increasing sophisticated diagnostics for early detection and more precise drug development.
Alzheimer’s disease is one of the most prevalent types of dementia that occurs worldwide. According to the Alzheimer’s net, there are nearly 50 million people that have Alzheimer’s or related dementia. The development of clinical diagnostics and therapeutics for Alzheimer’s disease (AD) and other neurodegenerative conditions is becoming very important. So, certain biomarkers that may improve the accuracy of the diagnosis are used.
Investing in biomarkers for drug development and early detection of AD acts as a major driver, and fuels the growth of the Alzheimer’s disease diagnostics and therapeutics market, globally.
Key Market Trends Cholinesterase Inhibitors are Expected to Hold the Highest Market Share in the Therapeutics Segment
Cholinesterase inhibitors are believed to have the largest market size and are expected to witness a high CAGR, during the forecast period. Cholinesterase inhibitors are used for the treatment of Alzheimer’s. These cholinesterase inhibitors are approved by the US FDA. Most physicians and perhaps most patients consider cholinergic drugs.
Donepezil, galantamine, and rivastigmine are the generic names of cholinesterase inhibitors, which are likely to be the first-line pharmacotherapy choice for mild to moderate Alzheimer’s disease. These drugs have somewhat different pharmacological properties, but all of them work by the same mechanism, which involves inhibiting the breakdown of acetylcholine, an important neurotransmitter associated with memory, by blocking the enzyme acetylcholinesterase.
Several clinical trials are ongoing on cholinesterase inhibitors to increase drug efficacy and decrease adverse effects. Hence, owing to the developments, the cholinesterase inhibitor drugs market is expected to grow during the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America currently dominates the market for Alzheimer’s disease diagnostics and therapeutics ,and is expected to continue its stronghold for a few more years. The United States holds the largest share of the global Alzheimer’s disease diagnostics and therapeutics market. According to the Alzheimer’s Association, more than 5 million Americans suffer from Alzheimer’s, as of 2017.
The United States is considered to be the global leader in Alzheimer’s disease intervention and management. America has a large pool of biopharmaceutical companies, which cumulatively have 85 drugs for combating Alzheimer’s disease in various stages of the pipeline. Hence, the market is expected to register a healthy CAGR over the forecast period.
Competitive Landscape The Alzheimer’s disease diagnostics and therapeutics market is moderately competitive and consists of several major players. With technological advancements and product innovation, mid-size to smaller companies are increasing their market presence, by introducing new technologies with better results. Companies, like F. Hoffmann-La Roche, Novartis AG, Merck & Co., Pfizer Inc., and Eli Lily & Co., hold a substantial market share in the Alzheimer’s disease diagnostics and therapeutics market.
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Cause-Specific Mortality Rate
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