The Rising Demand for Alzheimer's Drugs Drives the Memantine Market
Memantine is an orally administered drug used for the treatment of Alzheimer's disease symptoms. It works as an NMDA receptor antagonist. The drug helps improve cognitive functions, memory, thinking skills and ability to perform daily routine activities in patients with moderate to severe Alzheimer's disease. It reduces the effect of glutamate which can damage or kill 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.
Market Drivers
The key driver propelling the growth of Memantine Market Demand is the increasing elderly population globally which is the primary patient demographic for Alzheimer's disease. According to the United Nations, people aged 60 years and above are estimated to outnumber children younger than 5 years by 2020. Another major factor boosting the market growth is constantly rising healthcare expenditure across both developed and developing nations. Various governments are investing huge sums towards dementia research to develop improved prevention and treatment options. Changing lifestyles and increasing sedentary jobs are aggravating the risk of Alzheimer’s further fueling the demand for memantine
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