June 18, 2024

The Growing Demand For Alzheimer’s Disease Drugs Drives The Memantine Market

Memantine is an NMDA receptor antagonist approved by the FDA for the treatment of moderate to severe Alzheimer’s disease. It helps manage symptoms of Alzheimer’s disease and reduces behavioral symptoms associated with dementia. Memantine works by blocking excess amounts of glutamate, a chemical messenger involved in sending signals between nerve cells.

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, as highlighted in a new report published by Coherent Market Insights.

Alzheimer’s disease is a progressive brain disorder that destroys memory and thinking skills. It is the most common cause of dementia – a group of brain disorders that cause a decline in memory, thinking and reasoning skills. As dementia progresses, individuals may also experience changes in personality, mood and behavior. With an ageing global population, the prevalence of Alzheimer’s disease is rising at an alarming rate. Lack of a cure and high costs of care have made Alzheimer’s a global health crisis. Memantine plays an important role in reducing symptoms like agitation, aggression and irritability that decline the quality of life for patients and caregivers.

Market key trends:

 

One of the key trends driving the memantine market is the lack of effective treatment options for Alzheimer’s disease. Currently available drugs can only manage disease symptoms but not modify or cure the underlying pathology. Drug development for Alzheimer’s faces significant challenges due to brain complexity and late stage of disease at diagnoses. This has led researchers to explore unconventional approaches like combination therapies using memantine with other approved classes of Alzheimer’s drugs like acetylcholinesterase inhibitors. Combination therapies aim to target multiple disease mechanisms simultaneously for better outcomes. Another growing trend is the development of novel oral formulations and transdermal drug delivery systems of memantine that provide enhanced bioavailability and patient compliance over conventional tablets and capsules.

 

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate. The memantine market requires significant investment and expertise in R&D to develop new innovative products.

Bargaining power of buyers: The bargaining power of buyers is moderate to high due to the availability of substitute products. Buyers can switch between branded and generic drugs based on availability and pricing.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are few established suppliers globally that dominate the market. Suppliers may bargain for higher prices but too high prices could attract new suppliers.
Threat of new substitutes: The threat of substitutes is moderate. Currently, there are few disease-modifying therapies but new medical technologies may substitute memantine in the future.

Competitive rivalry: The competitive rivalry in the memantine market is high due to the presence of numerous generic and established pharmaceutical companies. Companies compete based on pricing, marketing initiatives, and new product development.

Key Takeaways

The Global Memantine Market Demand is expected to witness high growth.

Regional analysis comprises Asia Pacific is expected to witness the fastest growth rate over the forecast period attributed to increasing aged population, prevalence of Alzheimer’s disease, and rising healthcare expenditure. Europe currently dominates the global market owing to increasing R&D investments by key players and favorable reimbursement scenario.

The key players operating in the memantine market are Namenda (Forest Labs, Inc.), Axura Inc., Amneal Pharmaceuticals LLC, Zydus Pharmaceuticals, Upsher-Smith, and Orchid Chemicals & Pharmaceuticals Ltd. Key players are adopting growth strategies such as new product launches and collaborations for greater market penetration.

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