June 13, 2024
Memantine Market

Memantine Market is Estimated to Witness High Growth Owing to its Efficacy in Treating Alzheimer’s Disease

The memantine market is witnessing high growth owing to rising prevalence of Alzheimer’s disease across the globe. Memantine is a non-competitive N-methyl-D-aspartate (NMDA) receptor antagonist used for treating moderate to severe Alzheimer’s disease. It helps reduce or control symptoms like impaired thinking, memory loss, and behavior changes effectively. Memantine offers cognitive benefits in moderate to severe Alzheimer’s patients by blocking NMDA receptors in the brain. Blocking of NMDA receptors helps to reduce neuronal death and enhance synaptic activity.

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 cases of Alzheimer’s disease and growing geriatric population are two prime growth opportunities for players in the memantine market. Memantine works by regulating glutamate activity and by blocking NMDA receptors in the brain. This novel mechanism of action differentiates memantine from other Alzheimer therapies and drives its demand.

Market drivers

The growing elderly populace is a key driver boosting the demand for Memantine Market Size worldwide. As age is the most significant risk factor for Alzheimer’s disease, the rapid surge in median age of major countries is translating into a rise in Alzheimer patients. According to WHO, the worldwide population aged 60 years and older is projected to double from 12% to 22% between 2015 and 2050. Such a demographic shift will escalate the involuntary demand for memantine over the coming years.

Current challenges in Memantine Market:
The major challenge faced by players in the global memantine market is patent expiration of branded drugs. The patents for drugs like Namenda and Ebixa are set to expire between 2023-2024. This will boost the growth of generic market players. However, patent expiries will also reduce the prices and profit margins of drugs. Companies will need to invest more in research and development of new formulations and delivery systems to gain competitive edge. Another challenge is the availability of alternative treatment options. Drugs like donepezil and rivastigmine are major substitutes for memantine in treating conditions like Alzheimer’s disease.

SWOT Analysis
Strength: Memantine drug has well established efficacy and safety profile for treatment of moderate to severe Alzheimer’s. It provides significant benefits compared to placebo in improving or maintaining cognitive functions.
Weakness: High research & development costs and stringent regulatory norms associated with clinical trials for new indications increase overall business risks and costs.
Opportunity: Increasing prevalence of Alzheimer’s and other neurodegenerative diseases worldwide presents major growth opportunities. Expanding applications into other CNS conditions offers scope to address larger patient pool.
Threats: Limited patent protection and entry of generic versions erode revenues and market share of branded drugs. Intense competition from existing and new market entrants pressures prices and margins.

Geographical regions with high market value:
North America region currently accounts for the largest share in the global memantine market, both in terms of value and volume. This is attributed to high diagnosis and treatment rates for Alzheimer’s in countries like the US. The US memantine market was valued over US$ 600 Mn in 2024.

Fastest growing region:
Asia Pacific region is poised to witness highest growth during the forecast period. Increasing healthcare investments, growing elderly population, and rising economic ability are key factors driving higher adoption of memantine therapy in Asia Pacific countries like China, India, Japan and South Korea. The Asia Pacific memantine market is projected to expand at a robust CAGR of around 7% till 2031.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it