North America Alzheimer’s Disease Therapeutics And Diagnostics Market 2022-2028
MARKET OUTLOOK
According to Triton Market Research, the Alzheimer’s disease therapeutics and diagnostics market in North America is estimated to grow with a CAGR of 6.82% over the forecast period from 2022 to 2028. The United States and Canada are evaluated in the market in this region.
The United States accounts for the leading share in the AD therapeutics and diagnostics market. Data from the National Institutes of Health (NIH) suggests that, nearly 5.8 million Americans were affected by Alzheimer’s disease as of 2020. Of these, approximately 5.6 million people were in the age group of 65 years or more.
Also, according to data from the US Census Bureau, the population of Americans aged 65 or older is likely to reach 88 million individuals by 2050. As the number of elderly people in the country continues to increase, the cases of Alzheimer’s will also spiral. This will enhance the demand for therapeutics and diagnostics for AD, and thus contribute to the growth of the US market.
The United States’ Food and Drug Administration has approved 4 molecules, namely, galantamine, memantine, rivastigmine, and donepezil, for Alzheimer’s disease treatment. Further, as per the National Clinical Trials Registry (NCT), there are 144 Alzheimer’s disease-associated clinical trials in the country currently ongoing across different phases. Such active efforts by authorities are expected to steer the market’s growth.
COMPETITIVE OUTLOOK
The acclaimed players in the Alzheimer’s disease therapeutics and diagnostics market are Zydus Cadila, Baxter International Inc, Merck and Co, Eisai Co Ltd, Amarantus Bioscience Holdings Inc, Allergan Plc (acquired by Abbvie), Cognoptix Inc, GE Healthcare, and Sun Pharmaceuticals Industries Ltd.
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