Growing prevalence of Alzheimer's is acting as a driving force for memantine market

 

Memantine Market

Memantine is used for improving blood circulation, treating allergies, curing hemorrhoids, and even healing ulcers. It has anti-coagulant properties which makes it ideal for treating various ailments. It can also be used to treat other diseases including infections and even Alzheimer's disease. The only known side effect of Memantine is diarrhea, but this is an uncommon occurrence.

The growing prevalence of Alzheimer's around the globe is a key factor is driving the growth of the memantine market. According to the Alzheimer's Association, more than 6 million Americans of all ages have Alzheimer's. An estimated 6.2 million Americans age 65 and older are living with Alzheimer's dementia in 2021. Seventy-two percent are age 75 or older. One in 9 people age 65 and older (11.3%) has Alzheimer's dementia. memantine is a drug that is used to treat Alzheimer's. Moreover, the growing aging population is also increasing the risk of Alzheimer's which is further propelling the growth of the memantine market over the forecast period.  According to the United Nation, the global population aged 60 years or over numbered 962 million in 2017, more than twice as large as in 1980 when there were 382 million older persons worldwide. The number of older persons is expected to double again by 2050 when it is projected to reach nearly 2.1 billion.

North America is projected to gain significant growth over the forecast period and this is attributed to the increasing number of FDA approval for the launch new and effective drug for treating Alzheimer's. For instance, in March 2020, ANI Pharmaceuticals, Inc. announced that it has received the approval of the Company's abbreviated new drug application (ANDA) from the U.S. Food and Drug Administration (FDA) for Memantine Hydrochloride Extended-Release Capsules 7 mg, 14 mg, 21 mg and 28 mg.

Key Developments:

1.      In February 2018, Pharma major Lupin announced the launch of its Memantine Hydrochloride Extended-Release Capsules, 7mg, 14mg, 21mg, 28mg having received approval from the United States Food and Drug Administration (FDA). Lupin’s Memantine Hydrochloride ER capsules 7mg, 14mg, 21mg, 28mg are the generic equivalents of Allergan’s Namenda XR® capsules

2.      In September 2019, AbbVie announced the $63 billion acquisition of Allergan, which would make the new company a $48 billion enterprise. While AbbVie’s current top-selling drug is Humira (adalimumab), it has recently invested in neuroscience, investigating potential drugs for Parkinson's disease, multiple sclerosis, and Alzheimer's disease.


Location: India

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