IMARC Group, a leading market research company, has recently released a report titled “Dementia Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”. The study provides a detailed analysis of the industry, including the dementia drugs market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Dementia Drugs Market?
The global dementia drugs market size reached US$ 16.95 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.12% during 2023-2028.
What are Dementia Drugs?
Dementia refers to a medical condition that usually involves the loss of cognitive functioning, such as remembering, thinking, reasoning, etc., and behavioral abilities to the extent that it interferes with the daily life and activities of individuals. It generally affects visual perception, problem-solving, self-management, memory, language skills, and the ability to focus. Some of the most common signs and symptoms of dementia comprise experiencing poor judgment, confusion, difficulty in speaking, understanding, and expressing thoughts, getting lost in a familiar neighborhood, losing interest in daily activities or taking longer to complete them, hallucinating, losing balance, etc. Presently, it can be treated by using drugs to mitigate side effects.
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What are the growth prospects and trends in the dementia drugs industry?
The expanding geriatric population is primarily driving the dementia drugs market. Additionally, government bodies are launching favorable policies, such as generating awareness programs to educate the masses regarding disease prevention and treatment, which is further bolstering the market growth. Besides this, the widespread adoption of dementia drugs and numerous non-drug therapies to reduce symptoms and alleviate the side effects of several types of dementia while improving the life of patients is acting as another significant growth-inducing factor. Moreover, the development of new and innovative technologies and continuous advancements in drug discovery techniques are positively influencing the global market. Apart from this, the escalating demand for personalized medicine is also stimulating the market growth. Furthermore, the inflating expenditure capacities on healthcare are expected to propel the dementia drugs market over the forecasted period.
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What is included in market segmentation?
The report has segmented the market into the following categories:
- Lewy Body Dementia
- Parkinson’s Disease Dementia
- Alzheimer’s Disease
- Vascular Dementia
Drug Class Insights:
- Cholinesterase Inhibitors
- NMDA Antagonists and its Combination Drugs
Distribution Channel Insights:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
Market Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Abbvie Inc.
- Apotex Inc.
- Biogen Inc.
- Eisai Co. Ltd.
- Johnson & Johnson
- Merck & Co. Inc.
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