< Key Hightlight >

MARKET OUTLOOK

The global Alzheimer’s disease therapeutics and diagnostics market is expected to develop with a CAGR of 5.56% during the forecast years from 2021 to 2028.

The growing dementia prevalence in the elderly populace and the high prevalence of Alzheimer’s among people in developed countries are key factors driving the growth of this market. In addition, the launch of new drugs and the prevailing clinical trials are also resulting in robust growth of the Alzheimer’s disease therapeutics and diagnostics market.

On the flip side, stringent regulations concerning drug development and clinical trials, as well as the failure of the late-stage drugs to bring about significant improvement in symptoms, are hampering the growth of this industry. On the bright side, emerging novel diagnostic technologies for Alzheimer’s disease treatment are creating new avenues for the development of this market.

REGIONAL OUTLOOK

Europe, the Asia-Pacific, Latin America, the Middle East and Africa, and North America together shape the global market for Alzheimer’s therapeutics and diagnostics. 

Presently, North America holds the largest share of the global market, and is expected to maintain its dominance by the end of the forecast period. Developed countries such as the United States and Canada are a part of this region. The growth of the market here can be attributed to the rising geriatric population and the growing burden of Alzheimer’s disease. As per statistics, 1 in 9 people aged 65 years and above in the US is said to have Alzheimer’s dementia. Presently, several research studies are going on in the country on developing novel therapeutics and diagnostics for the disease, along with launching new products. All these factors are encouraging the growth of the market in North America.

COMPETITIVE OUTLOOK

Some of the major players engaged in the Alzheimer’s disease therapeutics and diagnostics market include F Hoffmann La Roche, Eisai Co Ltd, Novartis AG, Baxter International Inc, GE Healthcare, Luye Pharma Group, Siemens Healthineers AG, Lupin Limited, Amarantus Bioscience Holdings Inc, Merck & Co Inc, Johnson & Johnson, Teva Pharmaceutical Industries Limited, Eli Lilly & Company, Cognoptix Inc, PeopleBio Co, Zydus Cadila, Allergan Plc acquired by Abbvie, Sun Pharmaceuticals Industries Ltd, Biogen Inc, and Pfizer Inc.

Allergan Plc specializes in pharmaceuticals, with a primary focus on the development, manufacture, marketing, and distribution of specialty branded, biosimilar, and OTC products. The company has strengthened its product portfolio with various product launches and approvals. Its product NAMZARIC helps fight the symptoms of moderate to severe Alzheimer’s disease. Founded in 2013, the company has more than 1,200 employees across the globe; it operates in several countries, such as the US, China, Canada, India, and other high growth markets in Europe, the Middle East, Southeast Asia, and Latin America. In May 2020, the company was acquired by AbbVie.