by Rivastigmine is a reversible cholinesterase inhibitor used for the treatment of mild to moderate dementia associated with Parkinson’s disease. It works by inhibiting the breakdown of acetylcholine – a key chemical messenger involved in memory and thinking. Higher levels of acetylcholine in the brain may help maintain thinking skills.
The global Rivastigmine Market is estimated to be valued at US$ 516.3 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the rivastigmine market is rising prevalence of Alzheimer’s and Parkinson’s disease. According to Alzheimer’s Disease International, there were around 50 million people living with dementia worldwide in 2018, and this number is anticipated to treble to 152 million by 2050. Furthermore, according to Parkinson’s Foundation, around 1 million Americans are living with Parkinson’s disease, and every year about 60,000 Americans are diagnosed with Parkinson’s. Increasing disease prevalence is expected to drive the demand for rivastigmine over the forecast period.
SWOT Analysis
Strength: Rivastigmine is one of the primary drugs approved for Alzheimer’s disease treatment. It is effective in improving cognition and performing daily activities in patients with mild to moderate Alzheimer’s disease.
Weakness: Common side effects associated with Rivastigmine include nausea, vomiting, dyspepsia, loss of appetite etc. which can lead to poor patient compliance. It also requires frequent dosing.
Opportunity: Growing geriatric population and rising prevalence of Alzheimer’s disease present significant market opportunity. Also, innovative drug delivery approaches can improve patient compliance.
Threats: Intense competition from other Alzheimer’s drugs and generic variants poses pricing pressure. Moreover, failure in receiving regulatory approvals or drug recalls can negatively impact the market.
Key Takeaways
The Global Rivastigmine Market Demand is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing prevalence of Alzheimer’s disease. According to WHO, over 50 million people worldwide are living with dementia and there are nearly 10 million new cases every year.
Regional analysis: North America is expected to dominate the global rivastigmine market owing to high healthcare expenditure and growing awareness about Alzheimer’s treatment. Asia Pacific is anticipated to exhibit faster growth during the forecast period aided by rising geriatric population, improving healthcare infrastructure and increasing healthcare spending in the region.
Key players operating in the rivastigmine market are Novartis AG, Mylan Laboratories Inc., Actavis Generics UK Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Zentiva a.s., Sandoz International GmbH, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., and Accord Healthcare Limited. The market is consolidated in nature with top players holding major share. Ongoing clinical trials and new product launches are some of the key strategies adopted by major companies to strengthen their position in the rivastigmine market.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
