by The global rivastigmine market is primarily driven by rapidly increasing geriatric population across the globe, which is more prone to develop neurodegenerative diseases like Alzheimer’s and Parkinson’s. Rivastigmine is a reversible cholinesterase inhibitor used for the treatment of mild to moderate dementia associated with Parkinson’s and Alzheimer’s diseases. It is available under brand names Exelon, Rivastigmine, and Rivastigmine Tartrate. Rivastigmine works by increasing levels of the chemical messenger acetylcholine in the brain. Rivastigmine acts by inhibiting the action of acetylcholinesterase which breaks down acetylcholine in the brain and enhances the levels of this important neurotransmitter thus helping in improving cognitive functioning of patients.
The global rivastigmine market is estimated to be valued at US$ 594.78 Mn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing Geriatric Population: Aging is one of the major risk factors for neurodegenerative diseases like Alzheimer’s and Parkinson’s. According to the United Nations Population Fund (UNFPA), by 2050 around 2 billion people in the world will be aged 60 years and above. Growing geriatric population is expected to drive the demand for rivastigmine products for the treatment of mild to moderate dementia associated with Alzheimer’s and Parkinson’s diseases over the forecast period.
Another driver expected to fuel the rivastigmine market is growing R&D investments in developing novel drug delivery methods to enhance the efficacy of rivastigmine therapy. Currently, rivastigmine is available in oral capsule and transdermal patch dosage forms. Drug developers are focusing on developing new formulations like long-acting injectable preparations to increase patient compliance. Novel drug delivery technologies can help achieve stable and prolonged drug release, reducing dosing frequency and improving clinical outcomes. This is expected to augment the demand for rivastigmine during the forecast period.
Segment Analysis
The global rivastigmine market is segmented into two major segments – capsules and transdermal patches. The capsules segment currently dominates the market, owing to higher patient compliance with oral drugs. This segment accounts for over 60% of the total rivastigmine market share. However, the transdermal patches segment is expected to witness higher growth during the forecast period due to better patient adherence to treatment and reduced gastrointestinal side effects associated with oral drugs.
PEST Analysis
Political: The rising geriatric population worldwide prone to neurological conditions is driving favorable government policies and regulations supporting the growth of the rivastigmine market. However, stringent drug approval process may hinder market growth to some extent.
Economic: Growing per capita healthcare expenditure in major markets is allowing more spending on premium products such as rivastigmine used for Alzheimer’s and Parkinson’s treatment. This will support market revenue growth over the forecast period.
Social: Increasing incidence of neurological disorders due to changing lifestyles and rising life expectancy is prompting higher patient acceptance of rivastigmine medication. Favorable reimbursement policies are also augmenting the demand for rivastigmine among patients.
Technological: Manufacturers are investing more in developing transdermal and other novel delivery systems for rivastigmine to improve patient compliance. Advanced formulations with reduced side effects are likely to boost the market in coming years.
Key Takeaways
The Global Rivastigmine Market Demand is expected to witness high growth during the forecast period.
Regional analysis shows that North America presently dominates the market and is expected to maintain its leading position over 2024-2031. This can be attributed to the rising prevalence of Alzheimer’s and Parkinson’s disease, large presence of key market players, and growing per capita healthcare expenditure in the region.
Key players operating in the rivastigmine market are Allergan, Inc.,Galderma SA,Merz Pharma GmbH & Co.,KGaA, Suneva Medical Inc.,Specialty European Pharma,Sinclair Pharma,Valeant Pharmaceuticals International Inc.,LifeCell Corporation,Dr. Korman Laboratories Ltd.,ForeverInject International Holdings Co. Limited. Among these, Allergan and Merz Pharma hold majority of market share owing to their strong brand presence and wide geographical coverage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
