Alzheimer’s is a progressive disease that leads to the death of brain cells, resulting in memory loss, behavioral issues, and disruption the thought processes. The Alzheimer disease is considered fatal. Age and heredity are the two main risk factors for developing Alzheimer’s disease. Several other preventable risk factors have been associated to the development of this disease, including diet, environment, and overall general health. A combination of risk factors is often the cause of this disease.
As per analysis, “Global Alzheimer Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)” the key companies operating in the global Alzheimer market include Daiichi Sankyo, Eisai, Pfizer, Lundbeck, Novartis, Merz Pharma, Allergan, Johnson and Johanson and among others. Key companies are involved in mergers & acquisitions to support their position in the market. Due to increasing competition frequent innovations are often take place in the market.
Based on type, Alzheimer market can be divided as Memantine, Donepezil and Rivastigmine. Memantine is a prescription medicine/remedy used to treat moderate to the severe dementia. Donepezil is belongs to a class of drug called cholinesterase inhibitors. It improves the mental function (such as attention, memory, ability to interact with others, think clearly, speak, and perform regular daily activities) by increasing the amount of a definite naturally occurring substance in the brain. Donepezil may improve thinking and memory, or slow the loss of these abilities in people with Alzheimer’s. In addition, based on application type, market can be divided as early to moderate stages and moderate to severe stages.
Growth in healthcare spending per capita, followed by presence of key players, rapid growth in the number of people living with Alzheimer’s disease, increase in government funding for research & development (R&D) and huge patient population are some major factors, which are responsible for growth of the Alzheimer market. Apart from this, high failure rates of clinical studies related to diagnosis & treatment of Alzheimer’s is a major hindering factor for market. Moreover, growth in technological advancements in diagnostics & biomarkers is a leading opportunity for market.
Based on regional analysis, the North-America region holds major region in global Alzheimer market owing to rise in demand for advanced therapies & diagnostic tool with modified drugs and high prevalence of disease across the region. However, there have been many reports of neurological complications related to COVID-19. The COVID-19 pandemic has also revolutionized the daily routines of Alzheimer’s patients by adopting social distancing and isolation in the United States. It is understood that many Alzheimer’s patients have experienced negative effects on their mental health. Additionally, the Europe and Asia-Pacific regions are anticipated to exhibit substantial growth rate due to rise in awareness regarding early detection of the disease and growth in improvements in healthcare infrastructure over the forecast period. It is predicted that future of the global Alzheimer market will be bright as a result of rise in cases resulting in spreading awareness of early diagnosis of the disease during the forecast period.
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Ankur Gupta, Head Marketing & Communications