May 26, 2024

Memantine Market Is Expected To Be Flourished By Growing Number Of Alzheimer’s Patients

Memantine is a prescription drug which is used to treat moderate to severe Alzheimer’s disease and reduce or prevent symptoms like memory loss, thinking or behavioral issues. It works by binding to glutamate receptors and blocking the effects of excess glutamate activity in the brain. Memantine is used to treat the symptoms of Alzheimer’s disease like memory loss, thinking, and reasoning problems. Some common Alzheimer’s disease medications include donepezil, galantamine, and rivastigmine which are known as acetylcholinesterase inhibitors.

The global Memantine Market is estimated to be valued at Us$ 921.6 Mn in 2024 and is expected to exhibit a CAGR Of 5.2% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing Number of Alzheimer’s Patients: According to the Alzheimer’s Association 2020 report, around 5.8 million Americans of all ages are living with Alzheimer’s dementia in 2020. The number of people living with Alzheimer’s and other dementias is expected to rise dramatically in coming years. This rising prevalence of Alzheimer’s disease is expected to drive the growth of the global memantine market.

Memantine is Expected to be Flourished by Growing Focus on R&D: Key players operating in the global memantine market are focusing on new product launches and research activities to strengthen their market position. For instance, in September 2019, Neurocrine Biosciences, Inc. announced plans to initiate a Phase II clinical trial evaluating NBI-827104, an oral selective M1/M4 preferential muscarinic receptor agonist as a potential treatment for cognitive impairment associated with schizophrenia or Alzheimer’s disease. These initiatives by market players are expected to boost the memantine market growth over the forecast period.

Segment Analysis

The global memantine market is dominated by the Alzheimer’s disease segment. Over 90% of memantine sales are attributed to its application in treating moderate to severe Alzheimer’s disease. Memantine is prescribed as an adjunct therapy along with cholinesterase inhibitors for Alzheimer’s patients. It demonstrates efficacy in slowing cognitive decline and reducing behavioral symptoms in moderate to severe cases of Alzheimer’s disease. The mechanism of action of memantine involves regulating glutamate induced excitotoxicity which is believed to contribute to neuronal cell death seen in Alzheimer’s. Due to its established safety profile and efficacy benefits, memantine remains the standard of care for treating moderate to severe Alzheimer’s related dementia.

PEST Analysis

Political: Government funding towards Alzheimer’s research has been increasing over the years acknowledging it as a major healthcare issue. Favorable regulations help memantine gain approvals and commercialize timely.

Economic: Rising geriatric population drives the demand for Alzheimer’s treatment therapies. Emerging economies offer high growth potential. Patent expiries of major drugs make room for generics.

Social: Support groups raise Alzheimer’s awareness and address the social stigma around dementia. This encourages more patients to seek timely diagnosis and treatment.

Technological: Biomarker and diagnostic research helps detect Alzheimer’s at an earlier stage. Novel drug delivery methods aim to enhance memantine’s pharmacokinetics and therapeutic effects.

Key Takeaways

The Global Memantine Market Demand ┬áis expected to witness high growth over the forecast period supported by rising Alzheimer’s disease burden globally.

North America currently dominates the memantine market owing to developed healthcare infrastructure and high uptake of approved pharmaceutical products for Alzheimer’s treatment. Key players operating in the memantine market are Allergan, Lundbeck, Merz Pharma, Eisai, Novartis, Johnson & Johnson, and Teva Pharmaceutical Industries.

Key players operating in the memantine market are Allergan, Lundbeck, Merz Pharma, Eisai, Novartis, Johnson & Johnson, and Teva Pharmaceutical Industries. Allergan leads the market with its branded product Namenda being one of the highest selling Alzheimer’s drugs worldwide. Lundbeck also enjoys a significant market share with its memantine product Sabril receiving approvals across regions.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it