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.
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:
- Transdermal Patches
On the basis of distribution channel, the global rivastigmine market is segmented into:
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
On the basis of geography, the global rivastigmine market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East