Global Alzheimer’s Disease Diagnostics And Therapeutics Market, by Product (Therapeutics (Cholinesterase Inhibitors, NMDA Receptor Antagonists, Others) and Diagnostics (Brain Imaging, CSF Test for Alzheimer’s Disease)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,231.1 Million in 2022 and is expected to exhibit a CAGR of 5.4% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The large number of drugs in the pipeline for the management of Alzheimer’s disease have been directly fueling the growth of the Alzheimer’s disease diagnostics and therapeutics market globally, and the launch of new drug can result in robust growth of the market.
Alzheimer’s disease (AD) drug development is progressing despite temporary slowing of clinical trial activity during the COVID-19 pandemic. For instance, the first disease‐modifying therapy for AD (aducanumab) was approved by the U.S. Food and Drug Administration (FDA) in June 2021, and other disease‐modifying therapies are advancing in clinical trials.
Global Alzheimer’s disease diagnostics and therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
The rising cases of COVID-19 are expected to have a short-term negative impact on diagnostic rates of Alzheimer's disease. The short-term effects on the market are less prominent; however, the adverse impacts of COVID-19 on the global economy can have significant effects on the market.
Many studies reported the negative impact of COVID-19 on Alzheimer’s patients, which is also expected to impact the studied market. For instance, in the study titled, ‘Alzheimer’s and Parkinson’s diseases predict different COVID-19 outcomes, a U.K. Biobank study’, published in November 2020, it was observed that patients suffering from dementia are at the highest risk of mortality from COVID-19. However, with the ongoing vaccinations and decreasing cases of COVID-19, the studied market is expected to regain its full potential over the forecast period.
COVID-19 can impact the workflows of clinical trials, R&D, and pipeline products, leading to the continuation of relatively slow growth during the forecast period, despite the presence of a robust late-stage product pipeline. Hence, this is expected to create new opportunities for novel treatments and diagnosis in the market studied.
Global Alzheimer’s disease diagnostics and therapeutics Market: Key Developments
In June, 2022, Otsuka Pharmaceutical Co., Ltd, a pharmaceutical company, and H. Lundbeck A/S, a global pharmaceutical company, announced positive results of the Phase 3 clinical trial of brexpiprazole in the treatment of agitation in patients with Alzheimer's dementia.
In November, 2021, Brigham and Women’s Hospital in Boston, U.S. announced the initiation of a clinical trial to test the safety and efficacy of a new nasal vaccine for Alzheimer's disease.
Browse 16 Market Data Tables and 18 Figures spread through 194 Pages and in-depth TOC on “Global Alzheimer’s disease diagnostics and therapeutics Market”- Forecast to 2030, Global Alzheimer’s disease diagnostics and therapeutics Market, by Product (Therapeutics (Cholinesterase Inhibitors, NMDA Receptor Antagonists, Others) and Diagnostics (Brain Imaging, CSF Test for Alzheimer’s Disease)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increase in the inorganic growth strategy such as collaboration by the key market players is expected to offer lucrative growth opportunity for the market.
In March 2021, The German Center for Neurodegenerative Diseases, an interdisciplinary research institution, and Eisai Co. Ltd, a Japan-based pharmaceutical company, entered into a research collaboration agreement to create potential novel treatments for neurodegenerative disorders, including Alzheimer’s disease (AD)
Key Takeaways of the Global Alzheimer’s disease diagnostics and therapeutics Market:
- The global Alzheimer’s disease diagnostics and therapeutics market is expected to exhibit a CAGR of 5.4% during the forecast period due to the increasing adoption of strategies such as partnership by the key players. For instance, on September 21, 2022, C2N Diagnostics, a protein diagnostic and therapeutic discovery company, and Grupo Fleury, announced that they had entered into a partnership to introduce the most cutting-edge collection of plasma biomarkers to identify alterations in patients with memory problems that suggest the presence of Alzheimer's disease pathology.
- Major players operating in the global Alzheimer’s disease diagnostics and therapeutics market include Luye Pharma Group, Vigil Neuroscience, Inc., Grifols, S.A., AbbVie Inc., Zydus Lifesciences Ltd., Merck KGaA, F. Hoffmann-La Roche Ltd., Novartis AG, Johnson & Johnson, Eli Lilly and Company, Biogen Inc., Siemens Healthcare GmbH, Merz Pharma, Eisai Co. Ltd., Lupin Limited, Teva Pharmaceutical Industries Ltd., Apotex Inc., Corium, Inc., Supernus Pharmaceuticals, Inc.
