Memantine Market Poised for Growth Due to Advancements in Alzheimer's Disease Treatment
Memantine is a non-competitive N-methyl-D-aspartate (NMDA) receptor antagonist primarily used for treating moderate to severe Alzheimer's disease. It functions by regulating glutamate activity and providing neuroprotection against toxicity. Memantine is approved as a treatment option either as a monotherapy or in combination with cholinesterase inhibitors for patients suffering from moderate to severe forms of Alzheimer's disease.
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.
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. The increasing prevalence of Alzheimer's disease globally driven by growing geriatric population poses significant market opportunities for memantine. Advancements in drug delivery systems and novel formulations like injectables and transdermal patches can help improve patient compliance and drive the market growth over the forecast period.
Market Drivers
The Memantine Market Size is primarily driven by the rising prevalence of Alzheimer's disease worldwide. According to WHO, around 50 million people are living with dementia globally and Alzheimer's disease accounts for 60-70% of cases. The number of dementia cases is projected to triple to over 152 million by 2050. The approval and launch of generic versions has made memantine more affordable and accessible to patients, thereby propelling the market demand. Additionally, initiatives by governments and healthcare organizations to spread awareness about available treatment options is expected to boost the memantine market during the forecast period.
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