(PharmaNewsWire.Com, August 30, 2017 ) According to the report Latin America Alzheimer’s Disease Therapeutics and Diagnostics market, published by Market Data Forecast, the Market was worth USD 1.28 billion in 2016 and estimated to be growing at a CAGR of 4.22%, to reach USD 1.58 billion by 2021. Alzheimer’s disease (AD) is the most regular cause of progressive dementia in the elderly populace. There has been an exponential increase in the frequency of Alzheimer’s disease cases globally, stressing the need to develop an effectual treatment to cure it.
Presently, very few therapeutic options are present in the market and none of them offer a complete remedy for this condition. Hence, entry into the market would provide lucrative growth prospects to the industry players. Browse market data tables and in-depth TOC of the Latin America
The growth of the Latin America Alzheimer’s Disease Therapeutics and Diagnostics Market is mainly driven by factors such as growing old age population, rising R&D investment, high frequency of Alzheimer’s and neurodegenerative diseases, and improved life expectancy of the general population. However, factors such as astronomical cost of treatment and lack of proper reimbursement policies are preventing the growth of the market in this region.
The Latin America Alzheimer’s Disease Therapeutics and Diagnostics market is segmented based on Therapeutics and Diagnostics. The market for Alzheimer’s disease Therapeutics and Diagnostics, on the basis of Therapeutics is segmented into Marketed Drugs and Pipeline Drugs. Marketed Drugs are further segmented into NMDA Receptor Antagonists and Cholinesterase Inhibitors. Marketed Drugs lead the market on the basis of Therapeutics due to a large user base. On the basis of Diagnostics, the Alzheimer’s disease Therapeutics and Diagnostics market is segmented into Computed tomography scan, Electroencephalography, Lumbar puncture test, Magnetic resonance imaging, Positron emission tomography, and Others. Under this segment, Computed tomography scan segment leads the Alzheimer’s disease Therapeutics and Diagnostics market. Absence of alternative imaging tool for brain and neurological diagnostics is one of the crucial reasons for its large share.
The Latin America market region consists of countries such as Brazil, Mexico, Argentina, and remaining countries of South America. One of the major drivers of growth for the Alzheimer’s disease Therapeutics and Diagnostics market in this region is the growth of population aged above 65 years, which provide ample opportunities for the growth of drugs treating Alzheimer’s disease. In addition, the national governments of these Latin American countries have stepped up efforts to increase access to healthcare for its citizens.
Leading companies have applied tactics such as mergers & acquisitions, collaborations, and joint ventures to gain a strong foothold in the market. The major companies dominating the Alzheimer’s Disease Therapeutics and Diagnostics market in this region are Abbvie Inc., Pfizer Inc., AC Immune SA, Eisai Co Ltd., Allergan PLC, Novartis AG, Amarantus Bioscience Holdings, H. Lundbeck A/S, Anavex LifeSciences, Avid Radiopharmaceuticals, Forest Laboratories Inc., Axon Neuroscience, Daiichi Sankyo Co, TauRx Therapeutics Ltd, Eli Lilly, F. Hoffmann La Roche AG, Johnson & Johnson, GE Healthcare, Janssen Pharmaceuticals etc.
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