July 17, 2024

Memantine Market, Overview, key trends, Key Takeaways

Market Overview:

Memantine is a prescription drug used to treat moderate to severe Alzheimer’s disease. It works by regulating levels of glutamate, an excitatory neurotransmitter that is found in excess in Alzheimer’s patients. Memantine can help reduce deterioration in abilities such as memory, judgment, and recognize people or things. It can help slow worsening of dementia symptoms and improve cognitive function in moderate to severe Alzheimer’s patients.

Market key trends:

One of the key trends in the memantine market is the growing prevalence of Alzheimer’s disease. According to Alzheimer’s Association, nearly 6 million Americans are living with Alzheimer’s dementia in 2022 and this number is projected to rise to around 13 million by 2050. As Alzheimer’s has no cure, memantine which is used to manage symptoms has a growing market potential. Furthermore, North America region is projected to witness the highest CAGR during the forecast period owing to increasing healthcare spending and growing geriatric population in countries like US and Canada which are more susceptible to Alzheimer’s.


Segment Analysis

The global memantine market is segmented into indication, distribution channel, and region. Based on indication, the memantine market is categorized into Alzheimer’s disease, Parkinson’s disease, and others. The Alzheimer’s disease segment dominated the market in 2022 and is expected to maintain its dominance over the forecast period. This is primarily owing to an increasing prevalence of Alzheimer’s disease globally.

Key Takeaways

The Global Memantine Market size was valued at US$ 565.93 billion in 2022 and is expected to witness high growth, exhibiting a CAGR of 3.87% over the forecast period from 2023 to 2030 due to growing geriatric population and increasing prevalence of neurodegenerative diseases.

Regional analysis: North America dominated the global market in 2022 and is expected to maintain its dominance over the forecast period. This is attributed to the rising prevalence of Alzheimer’s and Parkinson’s disease in countries like the US and Canada.

Key players: Key players operating in the memantine market are Merz Pharma, Allergan, Lundbeck, Novartis, Johnson & Johnson, Eisai, and Daiichi Sankyo. Merz Pharma and Allergan are the market leaders due to their wide product portfolios for memantine indications.

Note:

1.       Source: Coherent Market Insights, Public sources, Desk research

2.       We have leveraged AI tools to mine information and compile it