The global market for Alzheimer’s drugs has witnessed a robust growth rate, especially over the last decade, owing to the increasing amounts spent on healthcare and research efforts pertaining to the development of effective drug classes for the diseases across the world. Research activities are also leading to an increase in the understanding regarding the causative factors leading to the disease and the possibility of introduction of better treatment methods. With rising industrialization and urbanization in developing countries, consumers have become more prosperous, leading to an increase in the amount spent on healthcare. The rising prevalence of neurological disorders, particularly among the geriatric population, has also led to the high growth rate witnessed by the Alzheimer’s drugs market.
Due to various environmental factors, as well as a rise in the ability to precisely diagnose neurological conditions, the incidence of Alzheimer’s disease has risen at a steady rate in the past few decades, leading to a corresponding rise in the demand for Alzheimer’s drugs. In the next few years, the market for Alzheimer’s drugs is expected to be driven by the rising number of patients affected by the disease. The number of medical facilities treating Alzheimer’s and other neurodegenerative diseases is also expected to rise in the coming years, propelling the global Alzheimer’s drugs market.
Transparency Market Research projects that the global Alzheimer’s drugs market will expand at a promising 7.5% CAGR from 2017 and 2025, rising from a valuation of US$3.6 bn in 2017 to an opportunity of US$6.4 bn by 2025.
In this blog post, Transparency Market Research analysts present insights into some of the key trends in the global Alzheimer’s drugs market:
Which region presents promising growth opportunities for the market?
Presently, North America is the leading contributor of revenue to the global Alzheimer’s drugs owing to the vast patient pool and the rising awareness about the disease among caregivers. The high disposable incomes and well-established healthcare infrastructure in the region, along with a promising healthcare reimbursement scenario have also strengthened North America’s position in the global Alzheimer’s drugs market. The region is expected to remain at the forefront of development of new Alzheimer’s drugs, helping the pipeline expand and bring in more promising drugs in the global market.
Over the next few years, however, emerging markets such as Asia Pacific, Latin America, and Middle East and Africa are expected to present massive growth opportunities to the market for Alzheimer’s drugs owing to a vast rise in patient population and rising disposable incomes. Promising outlook of the development of healthcare infrastructures in these regions would also mean the easy availability of newer and more promising varieties of drugs, thus driving the overall market.
What factors, if any, are holding back the market?
A number of factors are having a collaborative negative impact on the overall scope of expansion of the global Alzheimer’s drugs market, including the dearth of knowledge about the exact causative factors of the disease, time-consuming approval procedures, and the limited number of branded drugs in the market. High cost of most drugs, which are required to be consumed over long durations, also threaten their widespread adoption in certain developing or less developed economies.
Read more from Research Report: http://www.transparencymarketresearch.com/alzheimers-drugs-market.html