The global dementia drugs market accounted for US$ 12.8 billion in 2020 and is expected to reach US$ 25.2 billion by 2030; growing at a CAGR of 8.3% from 2021 – 2030. Dementia is a broad term used to define severe mental disabilities which disturbs the patient’s life socially, physically and mentally. Dementia is not a specific disease but a group of syndromes affecting the behavior, thinking, memory and personality of a person. Dementia arises when the brain gets damaged or the brain cells which are involved in thinking, problem solving, decision making and communication skills gets damaged. This syndrome is also called major neurocognitive disorder. Several injuries including strokes can give rise to Dementia, Alzheimer’s disease is one of the foremost reasons which cause Dementia. Dementia has no cure but early diagnosis, therapies and proper treatment may prevent the condition from worsening. Alzheimer’s disease is the most common form of dementia.
Market Dynamics
High prevalence in the number of Dementia patients, rising awareness through certain campaigns by governmental and non-governmental organizations, advancements in diagnostic techniques, availability of therapies are some of the key factors which boosts the global Dementia Treatment market.
Cost of advanced diagnosis, high-end igHHtherapies, costly medicines are something which everyone can’t afford, especially the low income families. Less availability of better treatment options in developing countries is also a factor which restraints the global Dementia treatment market.
The advancement in technologies, availability of high quality treatment, high prevalence in the number of Dementia patients, and high growth of novel therapies for Dementia will boost the growth of the global Dementia treatment market.
The main challenge in the global Dementia treatment market is that it has no permanent cure, this is why most of the families (especially in developing regions) don’t opt for diagnosis and other treatment options. Also the ill effects of diagnosis and treatment challenges the global Dementia treatment market growth.
Market Segmentation
The global Dementia treatment market is segmented on the basis of Drug Class, by Distribution Channel and by Region. The Drug Class segment is further sub-segmented into cholinesterase inhibitors, memantine and combination drugs (memantine and donepezil). The cholinergic/ cholinesterase (ChE) inhibitor segment leads the global Dementia treatment market, as it widely prescribed drug for the treatment of AD. By Distribution the market is segmented into hospital pharmacies, retail, and online sales. At present, there are no permanent treatment strategies or drugs but early diagnosis and proper treatment helps preventing the condition from worsening. Like the approved treatment for the relief of AD are cholinesterase inhibitors (Aricept, and memantine, are some of the drugs which improves the condition of patient suffering from Dementia.
Geography Analysis
By region, the global Dementia treatment market is bifurcated into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA). The North America is further classified into U.S., Canada and Mexico. Europe is further segmented into Germany, U.K., France, rest of Europe. Asia-Pacific is segmented into China, Japan, India, rest of APAC. Currently, North America dominates the global Dementia treatment market due to the increasing prevalence of Dementia in the U.S.
Prominent players in the global Dementia treatment market associated are: Merz Pharma, GmbH & Co. KGaA., Novartis AG, Allergan plc., Pfizer, Johnson & Johnson Services, Eisai Co., Ltd., H. Lundbeck A/S, Daiichi Sankyo Company, Ono Pharmaceutical Co. and F. Hoffmann-La Roche Ltd.
Market Segmentation and Scope of Dementia Treatment Market
