Global Alzheimer’s drugs market is estimated to witness high growth, owing to rapidly aging population and increase in R&D activities
Global Alzheimer’s drugs market is estimated to be valued at USD 5.10 Bn in 2024, exhibiting a CAGR of 10.3% over the forecast period 2024-2031. Furthermore, rapid growth of geriatric population who are at high risk of developing Alzheimer's and increase in research funding and partnerships for new drug development can drive the market during forecast period.
Market Dynamics:
Rapidly aging population: The risk of developing Alzheimer's disease increases with age. Growing geriatric population worldwide can increase the prevalence of Alzheimer's. As per WHO, number of people aged 65 years and above is expected to reach 1.5 billion by 2050 from present 703 million. This large pool of aging population can demand for effective Alzheimer treatment and care.
Increase in R&D activities: Numerous pharmaceutical and biotech companies are investing heavily in R&D to develop novel and effective drugs for Alzheimer's disease. Increased research collaborations between industries and research institutions and rise in clinical trials can lead to the approval of new drug candidates. This can drive the Alzheimer's drugs market growth over the forecast period.
Increasing Prevalence of Alzheimer's Disease Globally
Rising prevalence of Alzheimer's disease as the global population ages can drive the market growth. It is estimated that over 50 million people currently have dementia and there are nearly 10 million new cases every year. As life expectancy increases, the number of people living with Alzheimer's is expected to triple by 2050. This growing Alzheimer's patient pool can boost demand for new and effective treatment options. Advancements in Alzheimer's Drug Research and Development
Significant research efforts and investments from pharmaceutical companies as well as government and nonprofit organizations have led to major advancements in understanding the causes and progression of Alzheimer's disease. Several promising new drug candidates targeting different pathways and stages of the disease are currently in clinical trials. If approved, these innovative pipeline drugs offering novel mechanisms of action have the potential to transform Alzheimer’s treatment. Growing R&D activity and drug pipeline progress provide optimism about finding effective treatments. High Cost of Alzheimer's Drug Development
Developing new drugs to treat Alzheimer’s disease is extraordinarily long, complex and expensive process. The cost of clinical trials alone ranges from US$ 50- US$ 80 million per drug. Uncertainty around whether investigational drugs will demonstrate efficacy in late-stage trials also poses financial risks for pharmaceutical companies. Furthermore, reimbursement policies may not keep up with high drug prices needed to recoup R&D costs. The costly and risky nature of Alzheimer’s drug development can hamper the market growth.
Lack of Definitive Diagnosis and Biological Markers
The accurate diagnosis of Alzheimer’s disease can often only be confirmed via autopsy of brain tissue after death. Currently, diagnoses rely on neurological exams and cognitive tests to evaluate symptoms. The lack of definitive diagnostic biomarkers that can detect and stage the disease in living patients presents challenges for drug trials and clinical use. It also makes the development of disease-modifying drugs that can slow or prevent progression significantly more difficult. The need for better diagnostics can hamper the Alzheimer’s drugs market growth.
Emerging Markets Growth Potential
While Alzheimer’s disease currently impacts populations in developed nations the most, developing countries are expected to experience huge increase in the prevalence of dementia in the near future. Regions like Asia Pacific, Latin America, Africa and the Middle East represent major opportunities for growth as healthcare systems advance and more effective treatments become available. Pharmaceutical companies have an opportunity to establish early leadership by developing affordable therapies tailored for emerging markets.
Novel Drug Delivery Technologies
Rising interest in developing novel methods of drug delivery like gene therapy, stem cell therapy, immunotherapies, and vaccines for Alzheimer’s disease can offer growth opportunities. These innovative approaches offer the promise of more effective prevention and treatment by directly addressing underlying disease mechanisms in the brain. Investment in cutting-edge delivery technologies represents an opportunity to transform the market with whole new classes of Alzheimer’s therapies.
Link: https://www.coherentmarketinsights.com/market-insight/alzheimers-drugs-market-1373
Key Developments
- In July 2024, the U.S. FDA approved Eli Lilly's new Alzheimer's drug, Kisunla (donanemab), for adults with mild cognitive impairment or early Alzheimer’s disease. Kisunla, a monoclonal antibody infusion administered every four weeks, targets amyloid plaques in the brain to modestly slow cognitive decline.
- In July 2024, the Alzheimer’s Association received the FDA's approval for Kisunla (donanemab, from Eli Lilly) for treating individuals with early symptomatic Alzheimer's disease. This includes those with mild cognitive impairment and mild dementia stages, provided they have confirmed amyloid plaques.
- In January 2024, Biogen Inc. refocused its resources on Alzheimer’s disease, emphasizing the development of LEQEMBI (lecanemab-irmb) and accelerating new treatments like BIIB080 and BIIB113. The company will discontinue ADUHELM (aducanumab-avwa) and end the ENVISION clinical study, reallocating the resources to its Alzheimer’s drug development.
- In June 2023, Centers for Medicare & Medicaid Services, CMS Administrator Chiquita Brooks-LaSure announced that Medicare will cover Alzheimer’s drugs that slow disease progression if these receive traditional FDA approval, provided these are used in settings that also gather real-world data on their effectiveness for Medicare beneficiaries
Key Players: AbbVie, Inc., Teva Pharmaceuticals Ltd., Eisai Co., Ltd., Janssen Pharmaceuticals, Inc. (Johnson & Johnson), Novartis AG, Zydus Lifesciences Ltd (CADILA), Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd, Aurobindo Pharma Ltd, Amneal Pharmaceuticals Inc., Macleods Pharmaceuticals Ltd., Viatris Inc., Lupin Ltd, Cipla Ltd., Torrent Pharmaceuticals Ltd., Unichem laboratories ltd, Lannett Inc.
