Dementia Drugs Market

MarketOverview, 2030

The Dementia Drugs Market size was valued at $8.7 billion in 2023, and is projected to reach $19.7 billion by 2030, growing at a CAGR of 8.5% from 2022 to 2030.

Dementia causes a decline in mental function from a previously higher level that is severe enough to interfere with daily life. A person with dementia has at least two of these specific difficulties, including a decline in memory, reasoning, language, coordination, mood and behavior. Additionally, dementia develops when parts of the brain involved in learning, memory, decision-making, or language are affected by infections or diseases. The most common cause of dementia is Alzheimer's disease. Dementia is caused by damage to the brain. Dementia affects nerve cells in the brain, which destroys the ability of the brain to communicate with its different areas. Dementia can also result from a blockage of blood flow to the brain, depriving it of needed oxygen and nutrients. Without oxygen and nutrients, brain tissue dies. Brain damage causes different symptoms, depending on which area of ??the brain is affected. Some dementias are not reversible and worsen over time.

Rise in Demand for Dementia Drugs Market size is expected to grow globally over the forecast period, owing to increasing prevalence of Alzheimer's disease, advancing business R&D for drug development and increased adoption of early diagnosis. In addition, growing geriatric population, increased investment by R&D players and presence of strong candidates, increased spending on health infrastructure development, increased public awareness of disease prevention in developing regions and increasing demand for personalized medicine is further driving the growth of the global market. However, stringent government regulations related to product approval and high cost related to R&D activity is restraining the growth of Dementia Drugs industry. Conversely, accelerated technological advancements in drug discovery technique and large government investments in drug development are expected to provide a lucrative Dementia Drugs market opportunity to the key player in the market.

COVID Impact

The COVID-19 epidemic is beneficial to the dementia drug market. According to Alzheimer's Disease International, the pandemic resulted in a significant increase in the number of patients with long-term dementia in September 2023, as some research has shown that COVID-19 infection can increase the likelihood that a person develops dementia and that dementia symptoms appear earlier. Furthermore, COVID-19 has a detrimental influence on brain function by lowering awareness. As a result of the increased COVID-19 infection in Alzheimer's disease patients during the pandemic, the need for dementia medications has skyrocketed.

The Dementia Drugs Market is divided into three sections: indication, drug class, and distribution channel.The market is classified by indications such as Lewy body dementia, Parkinson's disease dementia, Alzheimer's disease, vascular dementia, and others. The market is divided into two segments based on pharmacological class: cholinesterase inhibitors and NMDA antagonists and their combination therapies. The market is divided into three segments based on distribution channel: hospital pharmacies, retail pharmacies, and internet pharmacies. Furthermore, the market is divided into four regions: North America, Europe, Asia-Pacific, and Latin America and the Caribbean.

Dementia Drugs Market by Indications

By Indications, The Alzheimer's disease segment was the major revenue contributor of the dementia drugs market share in 2023 and is expected to continue this trend during the forecast period, owing to the increase in expectation of life, the increase in the aging of the population and changes in lifestyle. In addition, the growth is associated with rapid improvement in medical infrastructure, an increase in scientific studies associated with the treatment and monitoring of Alzheimer's disease, as well as significant government and private sector funding in the Alzheimer's disease research, further driving the dementia drug market. growth. On the other hand, the vascular dementia segment is expected to exhibit the fastest market growth over the forecast period, owing to the growing number of populations at high risk of vascular dementia such as geriatrics and smokers, as well than a better understanding of diagnostic methods. In addition, the increasing focus on the development of Vascular Dementia treatment for the underlying disease and the lack of any FDA approved drug is further driving the growth of the Dementia Drugs industry.

Dementia Drugs Market by drug class

By drug class, The cholinesterase inhibitors category was the biggest revenue contributor in 2023 and is predicted to maintain this trend during the projection period, owing to a rise in the senior population, an increase in the prevalence of dementia, and growth in drug discovery. Furthermore, factors such as novel technology, emerging markets, and government initiatives for Alzheimer's therapy R&D are expected to propel the cholinesterase inhibitors industry throughout the projected period.

Dementia Drugs Market by distribution channel

By distribution channel, Due to a rise in the elderly population and Alzheimer's patients, the hospital pharmacies sector was the leading revenue contributor of Dementia Drugs Market share in 2023 and is expected to maintain this trend throughout the Dementia Drugs Market projection.

Dementia Drugs Market by region

By region, North America led the market in 2023, accounting for the largest share, and is expected to retain this trend during the forecast period, owing to major players' expenditures in different R&D activities as well as the introduction of new products in the United States. Furthermore, increased consumer awareness for the use of dementia treatments increases the expansion of the dementia pharmaceuticals sector.

The major companies profiled in the report include, Abbvie Inc., Appotex Inc., Aurobindo Pharma Limited, Biogen Idec Inc., Eisai Global, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Novartis Ag and Teva Pharmaceuticals.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Dementia Drugs Market analysis from 2023 to 2030 to identify the prevailing Dementia Drugs Market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the Dementia Drugs Market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as Dementia Drugs Market trends, key players, market segments, application areas, and market growth strategies.

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