Memantine Market Dynamic Demand For Future Growth, Global Industry Analysis by Size, Top Major Companies, Market Share and Regional Forecast to 2026
SEATTLE, April 12, 2021, (PHARMIWEB) — Memantine is a non-acetyl cholinesterase inhibitor drug, which is used for the treatment of Alzheimer’s disease. In 2002, this drug received European marketing approval and in 2003, the drug received the U.S. Food and Drug Administration (U.S FDA) approval. The generic version of this drug is available since 2015. It is used for the treatment of moderate to severe dementia associated with Alzheimer’s disease. However, prolonged consumption of this drug might result in a severe skin reaction called Stevens-Johnson syndrome (associated with painful blisters on the skin).
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Memantine Market– Drivers
The rising number of pipeline studies related to the use of memantine is expected to drive the memantine market growth. For instance, in September 2016, Lille University Hospital started phase I clinical study for assessing the effects of memantine on cognitive behavior of patients associated with Alzheimer’s disease. The study is estimated to be completed by February 2019.
Furthermore, Suven Life Sciences Limited is undergoing phase II clinical study for the comparative study on safety and efficacy of SUVN-502 along with memantine HCl and donezepil HCl for its use in treatment of moderate Alzheimer’s disease. The study was started in September 2015 and is expected to be completed in May 2019.
Memantine Market– Restraint
The rising number of patent expiration of drugs is a major factor restraining the market growth. For instance, in October 2018, according to Merz Pharmaceuticals, a Germany-based company, the overall licensing income during patented period for memantine decreased due to expiration of patent protection in large number of markets. For instance, according to Merz Pharmaceuticals, the U.S. licensing income for memantine reduced to US$ 138.07 million in 2017-18 as compared to US$ 183.34 million in 2016.
Memantine Market– Regional Analysis
On the basis of region, the global memantine market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is projected to hold dominant position in the global memantine market. This is attributed to rising number of generic versions of memantine available in the U.S. market. For instance, in February 2018, Lupin Limited announced the launch of its Memantine Hydrochloride Extended-Release Capsules in the U.S. market. The capsules are available in 7mg, 14mg, 21mg, and 28mg, for which the U.S. FDA approval was received by the company. These capsules are used for the treatment of moderate to severe dementia of the Alzheimer’s disease.
Asia Pacific is projected to witness significant growth in the global memantine market. This is attributed to rising focus of key players in manufacturing memantine tablets. For instance, in October 2018, Dr. Reddy’s Laboratories launched memantine hydrochloride tablets in India, in 5mg and 10mg. This was equivalent to generic version of Namenda tablets, which were already available in the U.S. market in July 2015.
Memantine Market– Competitive Landscape
Key players operating in the global memantine market include Merz Pharmaceuticals, Lupin Limited, Allergan plc. Novartis AG, Daiichi Sankyo Company, Limited, Ono Pharmaceutical Co Ltd., Eisai Co., Ltd., H. Lundbeck A/S, Dr. Reddy’s Laboratories, and Johnson & Johnson Services, Inc.
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Memantine Market– Taxonomy
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East
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