June 22, 2024
Memantine Market

The Growing Memantine Market Trend towards Targeted Therapy for Neurodegenerative Diseases

The memantine market is in trends by targeted therapy for neurodegenerative diseases. Memantine is an N-methyl-D-aspartate (NMDA) receptor antagonist prescribed for treatment of moderate to severe Alzheimer’s disease (AD), specifically to address complications of the disease. The drug is also used off-label to treat other neurodegenerative disorders like Parkinson’s disease (PD). Memantine aids in improving cognitive performances and behaviors in AD patients and delays worsening of symptoms.

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.

Growing prevalence of Alzheimer’s and other neurodegenerative diseases, increasing patient pool of dementia syndrome, and availability of efficient treatment with memantine are major factors driving the growth of memantine market globally. However, patent expirations of memantine and availability of generics pose threat to branded drugs.

Key Takeaways

Key players operating in the memantine market are Aggregate Industries Ltd., Anglo American Plc, Atlas Roofing Corporation, BP Plc, Cemex, Chevron Corporation, Exxon Mobil Corporation, Imperial Oil Limited, Owens Corning, Petroleos de Venezuela S.A, Royal Dutch Shell plc, Shell International, Total SA, United Refining Inc., etc. Some of the prominent manufacturers are Forest Laboratories, Merz Pharma GmbH & Co. KgaA, Lundbeck A/S, etc.

The growing prevalence of Alzheimer’s disease and other neurodegenerative disorders has increased the patient pool suffering from dementia syndromes. According to Alzheimer’s Disease International report, around 55 million people globally were living with dementia in 2020 and the number is projected to rise to 78 million by 2030. This rising patient base drives the demand for disease modifying drugs like memantine.

Geographically, North America dominates the global Memantine Market Size due to high adoption of memantine therapy and large Alzheimer’s patient population. However, emerging markets in Asia Pacific region are expected to exhibit fastest growth during the forecast period. This is attributed to improving healthcare infrastructure, increasing awareness, and growing R&D investment in novel targeted therapies.

Market Key Trends

The increasing focus on development of combination therapies utilizing memantine to achieve synergistic effects for enhanced treatment outcomes is one of the key trends in the memantine market. Researchers are exploring memantine in combination with other Alzheimer’s drugs like donepezil and galantamine to derive additional benefits. Developing memantine for treatment of other neurodegenerative diseases like PD and Huntington’s disease so as to expand its therapeutic scope is also gaining significant focus. This would enable to tap untapped market potential.

Porter’s Analysis
Threat of new entrants: The threat is moderate as the initial cost of setting up manufacturing facilities and adhering to regulations is high. However, the growth potential attracts new companies.
Bargaining power of buyers: The bargaining power of buyers is moderate as memantine is available through various distribution channels. However, the need for memantine gives buyers less negotiating power.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of raw material suppliers. However, the suppliers may have some control over prices of raw materials.
Threat of new substitutes: The threat of new substitutes is low as memantine has few product alternatives for its indicated medical conditions. However, research may yield new substitutes.
Competitive rivalry: The competitive rivalry is high due to the presence of many regional and global players offering generic and branded memantine.

Geographical Regions: North America holds the major share of the memantine market valued at around US$ 570 Mn in 2024 owing to high incidences of Alzheimer’s disease and favorable reimbursements. Growth will be driven by increasing aging population and awareness levels.

Asia Pacific is expected to grow fastest at a CAGR of around 7% during the forecast period. This is attributed to improving healthcare infrastructure, increasing healthcare spending by governments, rapid economic growth, and rising geriatric population in China and India. Increasing focus of major players on emerging countries will further support the regional market growth.

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