Rivastigmine is a cholinesterase inhibitor used for the treatment of mild to moderate dementia of Alzheimer's type. It helps increase levels of acetylcholine in the brain and is available in oral capsule and transdermal patch forms. The oral capsule is prescribed for mild to moderate dementia while the transdermal patch is recommended for moderate to severe dementia, improving patient compliance.
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 fueling the growth of the rivastigmine market is the rising prevalence of Alzheimer's disease globally. As per Alzheimer's Association, around 6.5 million Americans of all ages are living with Alzheimer's dementia in 2022. This number is projected to rise to around 13 million by 2050. Similarly, as per WHO estimates, around 55 million people were living with dementia in 2020 worldwide and is expected to threefold and reach 152 million by 2050. The rising caseload of Alzheimer's disease will correspondingly drive demand for rivastigmine treatment over the forecast period.
Porter’s Analysis
Threat of new entrants: The Rivastigmine market already has established key players dominating the market. High R&D costs, patent protections and regulatory requirements pose significant barriers to new entrants.
Bargaining power of buyers: Individual consumers have less bargaining power given limited availability of close substitutes. However, larger healthcare players have some bargaining power due to ability to negotiate on price and purchase volumes.
Bargaining power of suppliers: Major suppliers hold some bargaining power given the specialized expertise required for research and manufacturing of proprietary rivastigmine compounds. However, availability of alternatives and regulations curtail excessive pricing leverage.
Threat of new substitutes: Ongoing research has produced alternatives for treating Alzheimer's but rivastigmine remains one of the preferred choices due to proven efficacy and safety profile. Substitutes pose moderate threat in the long run.
Competitive rivalry: The market has few well-entrenched players leading to fierce competition on basis of pricing, product differentiation and marketing.
SWOT Analysis
Strengths: Rivastigmine is one of the preferred drugs for mild-to-moderate Alzheimer's due to proven efficacy and safety. Market leaders have strong brands and distribution networks.
Weaknesses: Generic competitors continue eroding sales of branded products leading to pricing pressures. Side effects associated with rivastigmine limit its usage in some cases.
Opportunities: Growing geriatric population and rising Alzheimer's prevalence in developing nations present commercial opportunities. Potential for indications beyond Alzheimer's through ongoing R&D.
Threats: Patent expiries make markets vulnerable to generic penetration. Alternatives emerging through ongoing research can displace rivastigmine usage over the long run. Regulatory uncertainties and pricing interventions also pose threats.
Key Takeaways
The Global Rivastigmine Market Demand is expected to witness high growth at a CAGR of 4.6% over the forecast period, due to increasing prevalence of Alzheimer's disease worldwide. As per estimates, over 55 million people had dementia globally in 2020 with Alzheimer's being the most common cause. The number is projected to rise to 78 million by 2030 and 139 million by 2050.
North America currently dominates the Rivastigmine market due to large patient pool, high diagnosis and treatment rates. However, Asia Pacific region is anticipated to exhibit fastest growth owing to growing healthcare infrastructure, access and investments in emerging nations like China and India where cases of Alzheimer's are increasing rapidly.
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
For more details on the report, Read-
https://www.insightprobing.com/rivastigmine-market-rivastigmine-market-rivastigmine-market/
This report presents the worldwide Moisture Balances market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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Moisture Balances Breakdown Data by Type
Moisture Balances Breakdown Data by Application
