The global Alzheimer’s drugs market to grow at a CAGR of 1.90% during the period 2017-2021, according to ResearchandMarkets, with Key vendors being Allergan, Eisai Pharmaceuticals, Johnson & Johnson, and Novartis, with other other prominent vendors Amgen and Pfizer.
One trend in the market is a reformulation of marketed drugs. The global Alzheimer’s drugs market is currently witnessing an increasing trend of reformulation of already market drugs to increase patient adherence to the treatment. Drug delivery systems such as transdermal patches, ER formulations, and orally disintegrating tablets increase the efficacy of drugs either by increasing the patient compliance or by increasing the bioavailability of a drug.
According to the report, one driver in the market is appropriate strategies designed to increase public awareness. Although the risk of developing Alzheimer’s disease increases exponentially with age, the CDC estimates that approximately 220,000-640,000 Americans under the age of 65 years are suffering from dementia, particularly Alzheimer’s disease. The early onset of symptoms of Alzheimer’s disease is often called as younger-onset. However, the diagnosis of individuals with younger-onset is delayed by several months or years as these symptoms are often attributed to external factors such as head injury, improper sleep, trauma or tragedy that had occurred in the past, stress conditions, and improper diagnosis of disease.
Further, the report states that one challenge in the market is a social stigma associated with Alzheimer’s disease. Alzheimer’s disease is perceived in different ways in different parts of the world, ranging from a component of aging to a supernatural event. This, in turn, has a negative impact on those suffering from dementia as they often refrain from reporting their symptoms to healthcare providers, leading to low diagnostic rates, thus hampering the market growth. In some parts of the world, public disclosure of such symptoms triggers negative reactions from family and friends leading to quarantine in some cases.