Alzheimer’s disease (AD) is the most common reason of progressive dementia in the elderly population. There has been an exponential rise in the number of cases of Alzheimer’s disease worldwide emphasizing the necessity for developing an effective treatment. According to Alzheimer’s Association, in 2016, an estimated 5.4 million Americans of all ages have Alzheimer's disease. One in nine people aged 65 and above has Alzheimer's disease. By 2050, the number of people aged 65 and above affected with Alzheimer's disease is expected to nearly triple, from 5.2 million to an expected 13.8 million, excluding the development of medical advances to avert or cure the disease. The mortality rates due to Alzheimer’s disease are quite high. Between 2000 and 2013, deaths due to heart disease, stroke and prostate cancer decreased 14%, 23% and 11%, respectively, while deaths from AD increased 71% in the U.S. Similarly, According to Alzheimer’s disease International in 2015, there are an estimated 46.8 million people worldwide living with dementia and is further expected to grow in future. Thus, there is an increasing in the demand for Alzheimer’s therapeutics and diagnostics worldwide.
Population aging across the globe is a major factor driving the market for Alzheimer’s therapeutics and diagnostics. Rising life expectancy is contributing to quick increases in number of aged population, and is associated with increased prevalence of chronic diseases like dementia. Therapies for AD offer temporary and uncertain improvements in the well-being of individuals, and none of the approved drugs can modify the course of the disease advancement. Thus, the magnitude of the affected population and lack of suitable and effective treatment offers an incredible opportunity for drug manufacturers. However, identification of the primary reasons and mechanisms involved in AD are is limited. Drug manufacturers have been unable to validate significant clinical benefits of treatment for a numerous of new compounds due to strict regulations. One of the significant trend observed in this market is collaboration of the existing players. Precisely, diagnostic technology companies are carefully trying to bring about effective biomarker technologies to support and improve the drug development process for potential drug candidates which is further expected to propel the demand.
The Alzheimer’s disease Therapeutics and Diagnostics market has been segmented by therapeutics, diagnostics, imaging technologies and geography. The market by therapeutics includes biomarkers, Cholinesterase inhibitors and NMDA receptor antagonists. Based on diagnostics the market has been segmented as brain imaging and blood tests. The market by imaging technologies includes structural imaging, functional imaging and molecular imaging.
Geographically, the market has been segmented as North America, Europe, Asia Pacific, Latin America, Middle East & Africa and Rest of the World. North America was observed to be the largest market for Alzheimer’s disease Therapeutics and Diagnostics due to increasing prevalence of Alzheimer’s disease with rise in aging population, and extensive technological advancements in the region. With the increase in aging population developing region of Asia Pacific, this market is expected to grow at maximum rate during the forecast period. Developing countries are expected to offer lucrative opportunities for this market. According to Alzheimer’s disease International in 2015, 58% of people with dementia live in developing countries, but by 2050 this will rise to 68%. The fastest growth in the elderly population is taking place in China, India, and their south Asian and western Pacific region. According to World Alzheimer Report in 2015, regional estimations of dementia prevalence in people aged 60 years and over vary from 4.6% in Central Europe to 8.7% in North Africa and the Middle East, however all other regional estimates fall in a relatively between 5.6% and 7.6%.
The key manufacturers operating in the market are Abbvie Inc., AC Immune SA, Allergan PLC, Amarantus Bioscience Holdings, Anavex LifeSciences, Avid Radiopharmaceuticals, Axon Neuroscience, Axovant Sciences, Daiichi Sankyo Co, Eli Lilly, F. Hoffmann La Roche AG, GE Healthcare, Janssen Pharmaceuticals etc. They have applied strategies, such as mergers & acquisitions, partnerships, joint ventures, agreements, and others to have a strong foothold in the market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.