Rivastigmine
is a cholinesterase enzyme inhibitor, which acts on
butylcholinesterase and acetylcholinesterase. It is a cholinergic
agent that aids in the treatment of Alzheimer’s and Parkinson’s
disease. The drug can be administered orally or in transdermal
patches form, owing to its small molecular size.
Rivastigmine
Market – Dynamics
Increasing
geriatric population is a major driver for growth of the rivastigmine
market. According to The Alzheimer Association, in 2018, the risk of
suffering from dementia can increase double fold above the age of 65
years in every 5 years. Moreover, increasing prevalence of
cardiovascular diseases worldwide also accounts for the development
of Alzheimer’s disease, thereby boosting demand for rivastigmine.
As per the National Center for Biotechnology Information published in
2013, the incidence of cardiovascular diseases was around 22.5 per
1,000 person worldwide which in turn suggesting a risk of
dementia.Diseases such as diabetes and blood pressure can also
increase the risk of dementia, which further boosts demand for
rivastigmine, thereby propelling the market growth.
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Rivastigmine
Market – Regional Insights
The
rivastigmine market is segregated geographically into North America,
Latin America, Asia Pacific, Europe, Middle East, and Africa. North
America accounted for the largest share in the global rivastigmine
market in 2017. This is owing to increasing prevalence of chronic
kidney disease in the region that may lead to dementia. According to
The American Kidney Fund, around 31 million people suffered from
chronic kidney disease in 2015. Europe accounted for the second
largest share in terms of revenue in the global rivastigmine market,
in 2017 owing to increasing geriatric population in the region.
Geriatric population is more prone to dementia. According to World
Population Prospects (WPP), in 2017, around 25% of the population in
Europe was aged 60 years or above. According to the Alzheimer’s
Association, in 2017, there was significant prevalence of vascular
diseases in Latin America and Africa. Therefore, Latin America and
Africa are expected to witness significant growth in the global
rivastigmine market during the forecast period.
Rivastigmine
Market – Competitive Landscape
Major
players operating in the global rivastigmine market include, Novartis
Europharm Limited, Actavis Pharma, Apotex Corporation, Aurobindo
Pharm Ltd, Teva Pharmaceuticals Industries Ltd, Dr. Reddy’s
Laboratories, Macleods, and others. Key players in the market are
focused on product development and approvals in order to enhance
their market share. For instance, in 2007, U.S. FDA approved Exelon
(Rivastigmine tartarate) — developed by Novartis Europharm Limited
for the treatment of Alzheimer's and Parkinson's disease.
Global
Rivastigmine Market Taxonomy:
On
the basis of disease indication, the global rivastigmine market is
segmented into:
-
Alzheimer’s disease
-
Parkinson’s disease
On
the basis of formulation, the global rivastigmine market is segmented
into:
-
Capsules
-
Transdermal Patches
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