June 18, 2024
Rivastigmine Market

Rivastigmine Market Expected to be Fuelled by Growing Geriatric Population

The global rivastigmine market is driven by rising geriatric population which experiences increasing incidence of neurological disorders like Alzheimer’s and Parkinson’s disease. Rivastigmine is one of the major drugs used for treatment of mild to moderate dementia associated with Parkinson’s disease. It is a cholinesterase inhibitor that helps improve symptoms related to memory, thinking, language and judgment in 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 key trends:

One of the key trends in the rivastigmine market is the introduction of transdermal patches. Transdermal patches offer several advantages over oral capsules like controlled drug release, better adherence to treatment and reduced side effects. Leading manufacturers like Novartis have launched transdermal rivastigmine patches to expand their product portfolio and gain higher market share. Another trend is collaboration between vendors and healthcare providers to raise awareness about neurological disorders and importance of early diagnosis and treatment. This is helping improve patient access to rivastigmine drugs and drive its demand.

Porter’s Analysis

Threat of new entrants: The rivastigmine market requires high R&D investment and licensing which poses a moderate threat of new entrants.

Bargaining power of buyers: Individual buyers have low bargaining power due to availability of limited treatment options for Alzheimer’s and Parkinson’s disease. However, large pharmaceutical companies enjoy some bargaining power.

Bargaining power of suppliers: A few major players dominate the active pharmaceutical ingredients supply chain which exerts moderate bargaining power.

Threat of new substitutes: No major substitute exists for rivastigmine in the treatment of Alzheimer’s and Parkinson’s disease at present.

Competitive rivalry: The rivastigmine market landscape comprises large pharmaceutical giants and small players intensifying competition.

Key Takeaways

The Global Rivastigmine Market Size is expected to witness high growth over the forecast period of 2024 to 2031.

North America currently dominates the market owing to high Alzheimer’s prevalence and healthcare spending in the US. The Asia Pacific region is anticipated to be the fastest growing market for rivastigmine driven by expanding patient pool, rising geriatric population, and increasing healthcare expenditure in China and India.

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. Allergan’s Exelon leads the global rivastigmine drugs market. Merz Pharma also enjoys a sizable market share with its Rivastigmine Transdermal Patch. The key players are focused on new product launches and geographic expansion to consolidate their market positions.

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