New York, United States , April 26, 2023 (GLOBE NEWSWIRE) -- The Global Dementia Drugs Market Size to grow from USD 20.1 Billion in 2021 to USD 36.7 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.
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A person's lifestyle may be hampered by dementia, which is a deterioration in higher level mental function. Dementia patients experience one or more of these issues, including memory loss, poor coordination, lack of coordination, thinking, language, behaviour, and mood swings. Dementia can also develop when a brain region active in decision-making, memory, learning, or language is harmed by illnesses or medications. Alzheimer's is one of the most typical causes of dementia. As was already established, brain injury is the cause of the condition. It not only damages the brain's nerve cells but also impairs the brain's ability to communicate with other body parts. Dementia can also result from the brain's blood flow being restricted, depriving it of nutrition and oxygen.
Over the projected period, it is expected that the increasing prevalence of Alzheimer's disease will fuel the expansion of the worldwide dementia drugs market. Alzheimer is the most prevalent cause of dementia among senior individuals, according to data provided by the Centres for Disease Control and Prevention (CDC). In the United States, it was projected that 6.2 million people would have Alzheimer's disease in 2021.
The failure of exploratory candidates in the final stage is one of the reasons that will have an impact on the growth of the global dementia drugs market. AstraZeneca, a biopharmaceutical company, and Eli Lilly announced on June 12, 2018, that the Phase III clinical trials of lanabecestat, an oral beta secretase cleaving enzyme inhibitor that is used to treat Alzheimer's disease, had been terminated.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Dementia Drugs Market Size, Share, and COVID-19 Impact Analysis by Indication (Lewy Body Dementia, Parkinsons Disease Dementia, Alzheimers Disease, Vascular Dementia, Other Indications), by Drug Class (Cholinesterase Inhibitors, NMDA Antagonists and its Combination Drugs), by Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030" Get Detailed Report Description Here:
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Indication Insights
Alzheimer’s Disease is dominating the market with the largest market share
On the basis of indication, the global dementia drugs market is segmented into Lewy Body Dementia, Parkinsons Disease Dementia, Alzheimers Disease, Vascular Dementia, Other Indications. Among these, the Alzheimer’s disease segment is dominating the market with the largest market share over the forecast period because of shifts in lifestyles, an older population, and longer life expectancies. Additionally, the quick advancement of medical infrastructure, the expansion of scientific investigation into the identification, management, and treatment of Alzheimer's disease, as well as significant funding from both the public and private sectors for Alzheimer's research, all contribute to the expectation of increased market growth for dementia medications.
Drug Class Insights
Cholinesterase segment holds the largest market share over the forecast period
Based on the drug class, the global dementia drugs market is segmented into Cholinesterase Inhibitors, NMDA Antagonists and its Combination Drugs. Among these, the Cholinesterase segment is dominating the market and is likely to continue its dominance over the upcoming years because there are more older adults, more people with dementia, and more medical breakthroughs. In addition, a number of factors, including emerging markets, advancing technology, and government funding of R&D for Alzheimer's treatments, are predicted to fuel the growth of the cholinesterase inhibitors market throughout the course of the forecast period.
Distribution Channel Insights
Hospital pharmacies segment holds the largest market share over the forecast period
On the basis of distribution channel, the global dementia drugs market is segmented into Retail Pharmacies, Hospital Pharmacies, Online Pharmacies. Due to an increase in the population of older individuals and those suffering from Alzheimer's disease, the hospital pharmacy segment has the biggest market share of all.
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Regional Insights
North America is dominating the market with the largest market share over the forecast period.
North America is dominating the market with the largest market share and is going to continue its dominance over the forecast period as a result of substantial industry investment in a variety of R&D projects and the launch of new products in the United States. As the public becomes more aware of the need for dementia medications, the market for treatments to treat dementia is also expanding.
Europe, on the other hand, is currently holding the second-largest market share due to a variety of factors, including the rising prevalence of neurological diseases in countries like the United Kingdom and Germany, the expansion of strategic development by market players operating in the business, and the rise in the number of government initiatives.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Dementia Drugs Market are 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.
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