Seattle, WA -- (SBWIRE) -- 09/24/2019 -- Dementia is an overall term for diseases and conditions characterized by decline in memory or other thinking skills. The most common form of dementia is Alzheimer's disease that accounts for over 60% of all cases of dementia and generally impacts people aged 65 years or older. A major cause of dementia is genetic mutation that leads to accumulation of a protein called beta amyloid in the spaces between nerve cells. The condition has no cure. However, there are several therapies that aid in reducing the symptoms of the condition. Several institutes and research organizations are focused on conducting research to develop novel and effective therapies focused on the influence of beta-amyloid in the treatment of dementia.
Increasing number of drugs in the pipeline for the treatment of dementia that are expected to be launched in 2020-2022 is expected to boost the market growth. For instance, according to the study published by Translational Research and Clinical Intervention, in September 2017, 105 new drugs are in the pipeline, out of which 25 are in phase one, 52 in phase two, and 28 are in phase three. These new therapies 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.
Request Sample Copy Of This Report: https://www.coherentmarketinsights.com/insight/request-sample/1664
Moreover, key players in the market are focused on adopting collaboration strategies to expand their product portfolio, which is also expected to boost the market growth. 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.
Increasing prevalence of Alzheimer's disease is expected to boost growth of the dementia drugs market. For instance, according to World Alzheimer Report in 2016, around 46.5 million people were suffering from Alzheimer's disease, the number for which is projected to reach 50 million by 2017. Increasing geriatric population is also expected to contribute to growing cases of Alzheimer's disease, thereby propelling the market growth. For instance, according to World Population Prospects (WPP) published by United Nations in 2017, around 962 million people aged 60 years and above were recorded, which accounted for 13% of the global population. The number is projected to reach 1.4 billion by 2030, exhibiting annual growth rate of 3%. Europe accounted for the largest geriatric population (25% of population) in 2017, whereas Asia Pacific recorded a geriatric population of 547 million in 2017 and is projected to reach 900 million by 2025. Therefore, these regions demonstrate lucrative growth opportunities for the market players.
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. For instance, according to Alzheimer's Disease International Association, in 2015, East Asia is the region with the maximum number of people living with dementia (9.8 million), followed by Western Europe (7.4 million).
Key players are adopting strategic collaborations and acquisitions and product portfolio expansion to accelerate delivery of products and overall revenue. For instance, Teva Pharmaceutical Industries Ltd. acquired Actavis Generics from Allergan in 2016, for around US$ 40 billion, which also includes the Alzheimer's portfolio of Actavis Generics. This acquisition boosted revenue of Teva in its fourth quarter of 2016 and first quarter of 2017. Furthermore, Genentech and AC Immune are also jointly developing anti-amyloid beta antibody crenezumab, which started phase three clinical trial in 2017. They are developing anti-amyloid beta vaccine for Alzheimer's disease treatment. Furthermore, AC immune and Janssen Pharmaceutical are also co-developing vaccine for Alzheimer's treatment.
Ask for customization: https://www.coherentmarketinsights.com/insight/request-customization/1664
Detailed Segmentation:
By Drug Class:
MAO Inhibitors
Cholinesterase Inhibitors
Glutamate Inhibitors
By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Others
Company Profiles
Eisai, Inc.*
Janssen Pharmaceuticals, Inc.
Biogen Pharmaceuticals
Forest Laboratories, Inc.
Eli Lilly and Company
Novartis AG
Sanofi S.A.
AstraZeneca GmbH
Hoffmann-La Roche
Merck & Co., Inc.
Valeant Pharmaceutical International
Pfizer Inc.
Teva Pharmaceuticals Industries Ltd
To view the original version on The Express Wire visit https://www.coherentmarketinsights.com/market-insight/dementia-drugs-market-1664
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.