Dementia is one of the most prevalent neurodegenerative diseases in
which patients suffer from various behavioral changes, as a primary
symptoms such as decline in memory or other thinking skills and can
gets worse as condition progresses. It majorly affects people of aged
65 years and above. Currently, there is no curative therapy available
for dementia disease. However, drugs for dementia therapy are in
pipeline, which are expected to be launched in the near future, in
turn propelling growth of the dementia drugs market.
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Market Dynamics
Increasing aging population along with its associated complications
is the major driving factor for growth of the dementia drugs market.
For instance, according to Centers of Disease Control and Prevention
(CDC), 2013, five million people were suffering from AD and the
number is expected to rise up to 14 million by 2050, in the U.S.
Moreover, according to World Health Organization (WHO), 2017, around
47 million people suffer from dementia and around 10 million new
cases are reported annually. Increasing incidence of dementia coupled
with growing demand for therapy is expected to favor growth of the
dementia drugs market in the near future. According to Australian
Institute of Health and Welfare (AIHW) estimates, the number of
people with dementia is expected to reach to around 400,000 by 2020,
and around 900,000 by 2050. Moreover, the National Health and Medical
Research Council (NHMRC) is working in collaboration with the
Australian Research Council (ARC) to prioritize and fund new dementia
research projects and translate research to improve prevention,
diagnosis, treatment, and care for dementia patients.
Increasing number of pipeline products is expected to drive growth
of the dementia drugs market
Major factors fueling growth of the dementia drugs market include the
large number of drugs in the pipeline, which are expected to enter
into the market by 2020-2022. According to the study published by
Translational Research and Clinical Intervention, in September 2017,
it is recorded that 105 new drugs in pipeline, out of which 25 are in
phase one, 52 in phase two and 28 are in phase three. These new
products use novel approaches such as immunotherapy to target amyloid
beta, beta-site amyloid precursor protein cleaving enzyme 1
inhibitors, tau aggregation inhibitor, and serotonin 5-HT6 receptor
antagonist. Furthermore, increasing collaborations amongst companies
for developing drugs in joint efforts is also boosting growth of the
market. For instance, in November 2017, Novartis and Amgen, along
with the Banner Alzheimer's Institute, announced a collaboration to
assess potential of the BACE1 inhibitor CNP520 to prevent or delay
symptoms of Alzheimer's disease.
Dementia Drugs Market Regional Outlook - Growing Integration of
Healthcare and IT to boost demand in emerging economies
On the basis of geography, the global dementia drugs market can be
segmented into six major regions: North America, Europe, Asia
Pacific, Latin America, Middle East, and Africa. North America is
expected to hold the largest market, owing to major approval of drugs
in this region and favorable reimbursement scenarios. Asia Pacific is
expected to emerge as a major market in the near future, majorly due
to the growing geriatric population and Alzheimer’s disease cases,
especially in China, India. This in turn, is expected to create
lucrative opportunities for growth of the market.
Some of the top companies operating in the dementia drugs market
are Eisai, Inc., Janssen Pharmaceuticals, Inc., Biogen
Pharmaceuticals, Forest Laboratories, Inc., Eli Lilly and Company,
Novartis AG, Sanofi S.A., AstraZeneca GmbH, F. Hoffmann-La Roche,
Merck & Co., Inc.., Valeant Pharmaceutical International, Pfizer
Inc., and Teva Pharmaceuticals Industries Ltd.
Detailed
Segmentation:
-
Global Dementia Drugs Market, By Drug Class:
-
MAO Inhibitors
-
Cholinesterase Inhibitors
-
Glutamate Inhibitors
-
-
Global Dementia Drugs Market, By Distribution Channel:
-
Hospital Pharmacies
-
Retail Pharmacies
-
Others
-
-
Global Dementia Drugs Market, By Region:
-
North America
-
Europe
-
Asia Pacific
-
Latin America
-
Middle East
-
Africa
-
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analytical data in addition to the clinical information of ongoing
trials for biologics and biosimilars. An amalgamation of more than 30
parameters, PHASE-XS helps biotechnology and pharmaceutical companies
to analyze the market trend, competition, and market potential. For
more information or to access this database, kindly click on the
below link or contact at sales@coherentmarketinsights.com
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