Memantine is an orally active, low to moderate affinity uncompetitive NMDA receptor antagonist approved for treatment of moderate to severe Alzheimer's disease. It has been shown to slow clinical worsening and improve functional ability in patients with moderate to severe Alzheimer's disease. The global memantine market is primarily driven by increasing prevalence of Alzheimer's disease worldwide. As per data by Alzheimer's Disease International, currently, there are 50 million people living with dementia worldwide and by 2050, this number is expected to increase to 152 million. High unmet medical needs and lack of disease modifying therapies are key factors that drive off-label use of memantine for other indications like Parkinson’s disease dementia.
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.
Market Dynamics:
The increasing prevalence of Alzheimer's disease remains the primary driver propelling growth of the global memantine market over the forecast period. As per estimates, over 6 million new cases of Alzheimer's disease are reported every year globally. Moreover, advancing age is the greatest known risk factor for Alzheimer's disease, thus rising geriatric population also contributes to high prevalence of the disease. According to Population Reference Bureau, the number of people aged 65 years or over is projected to rise to nearly 1.5 billion in 2050 from 703 million in 2019. Additionally, unmet need of disease modifying drugs for Alzheimer's disease also augments off-label use of memantine for broader indications, thereby supporting market growth.
SWOT Analysis
Strength: Memantine is a well-established drug used for treatment of moderate to severe Alzheimer's disease. It has shown positive effects in reducing symptoms without major side effects. The efficacy and safety profile of Memantine makes it a preferable treatment option compared to other Alzheimer drugs.
Weakness: Memantine is available only in generic form and faces competition from other Alzheimer drugs that are still under patent protection. The market is dominated by few large pharmaceutical companies which limits opportunities for small players.
Opportunity: With rising geriatric population worldwide, the number of Alzheimer's cases is projected to increase rapidly providing opportunities for growth. Emerging economies with large aging demographics offer untapped market potential. Combination therapies using Memantine with other drugs can expand treatment options.
Threats: Patent expiration of blockbuster Alzheimer drugs may lead to lower prices and affect revenue streams. Stringent regulations for approval of dementia drugs pose development challenges. Alternative treatment methods involving stem cell therapy and vaccines could threaten Memantine's market position in long term.
Key Takeaways
The Global Memantine Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is estimated at US$ 921.6 Mn and is projected to reach over US$ 1.5 Bn by 2031, registering a CAGR of 5.2%.
North America currently dominates the memantine market owing to high Alzheimer prevalence and advanced healthcare infrastructure. In the US, memantine is one of the preferred treatment options for moderate to severe dementia and captures over 50% market share.
Key players operating in the memantine market are Merz Pharma GmbH & Co. KgaA, Allergan, Daiichi Sankyo Company Ltd., OTSUKA Pharmaceutical Co., Ltd., and Lundbeck. Merz Pharma holds the leading position with its memantine drug - Ebixa. The company has a strong market presence across Europe and other regions. Allergan markets Namenda and Namzaric for Alzheimer treatment in the US with over 30% revenue share. Lundbeck's Nemenda holds significant market share in European countries. The memantine market is moderately consolidated in nature with top 5 players accounting for over 75% global sales.
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