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The global market for Alzheimer's Disease (AD) treatment will more than double in value from $4.9 billion in 2013 to reach an estimated $13.3 billion by 2023, representing a Compound Annual Growth Rate (CAGR) of 10.50 percent, according to research and consulting firm GlobalData.
The growth will be driven by the launch of 15 new therapies, including several drug candidates that have the potential to modify the underlying cause of AD.
The increasing prevalence of AD and mild cognitive impairment across the 9MM, coupled with advances in diagnostic capability and increased social awareness of the disease, will contribute further to market growth.
Dr Kyle S Nicholson, GlobalData's analyst covering neurology, says disease-modifying treatments and novel symptomatic therapies with innovative mechanisms of action will enter the arena during the forecast period and become routinely used in care.
He explains: "Following the anticipated approval and launch of first-in-class BACE1 inhibitors and passive immunotherapies in 2018 and 2019, respectively, the AD treatment market will undergo rapid expansion, as several blockbuster drugs are expected to come from these two potentially disease-modifying therapeutic classes.