GLOBAL GERIATRIC MEDICINES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In May 2023, Pfizer Inc. announced that the U.S. Food and Drug Administration (FDA) has approved ABRYSVO (Respiratory Syncytial Virus Vaccine), the company's bivalent RSV prefusion F (RSVpreF) vaccine, for the prevention of lower respiratory tract disease caused by RSV in people aged 60 and older. ABRYSVO is an unadjuvanted vaccine made up of two preF proteins chosen to optimize protection against RSV A and B strains, and it has been shown to be both safe and efficacious.
• In May 2023, Otsuka Pharmaceutical, Co. Ltd., a pharmaceutical company and Lundbeck LLC, a pharmaceutical company, announced that the U.S. FDA had approved the supplemental New Drug Application (sNDA) of REXULTI (brexpiprazole) for use in the treatment of agitation associated with dementia due to Alzheimer’s disease
• In March 2023, The Penn Medicine Princeton Cancer Center received a USD 2.5 million grant from the Bristol Myers Squibb Foundation to fund an innovative program to ensure holistic, patient-centered care for older adults with cancer. The new Geriatric Oncology Program will transform cancer treatment and supportive care for older adults by expanding research opportunities, enhancing professionals’ expertise in geriatrics, and increasing outreach to seniors in the central New Jersey community.
• In January 2023, Eisai Co., Ltd., a pharmaceutical company, and Biogen Inc., a multinational biotechnology company, announced that the U.S. FDA has approved lecanemab-irmb 100 mg/mL injection for intravenous use, a humanized immunoglobulin gamma 1 (IgG1) monoclonal antibody directed against aggregated soluble ("protofibril") and insoluble forms of amyloid beta (Aβ) for the treatment of Alzheimer's disease (AD).