Global Dementia Drugs Market Size To Worth USD 36.7 Billion By 2030 | CAGR of 9.3%
Category: HealthcareGlobal Dementia Drugs Market Size To Worth USD 36.7 Billion By 2030
According to a research report published by Spherical Insights & Consulting, 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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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: https://www.sphericalinsights.com/reports/dementia-drugs-market
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.
COVID 19 Impact
The COVID 19 pandemic outbreak has caused the virus to infect more than 100 countries worldwide, and on January 30, 2020, the WHO proclaimed it to be a pandemic. By disrupting the supply chain, the pandemic has had a significant influence on both medicine demand and production, which has had an impact on businesses and financial markets. Several nations, including India, China, the UAE, Saudi Arabia, and others have enacted nationwide lockdowns in an effort to slow the spread of the virus, which has prevented the shipment of pharmaceuticals. Due of COVID 19's adverse effects on dementia patients, the pandemic has had a detrimental influence on the global dementia drugs market.
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.
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.
Regional Insights
North America is dominating the market with the largest market share over the forecast period.
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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.
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.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Dementia Drugs Market based on the below-mentioned segments:
Dementia Drugs Market, Indication Analysis
- Lewy Body Dementia
- Parkinsons Disease Dementia
- Alzheimers Disease
- Vascular Dementia
- Other Indications
Dementia Drugs Market, Drug Class Analysis
- Cholinesterase Inhibitors
- NMDA Antagonists
- Combination Drugs
Dementia Drugs Market, Distribution Channel Analysis
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
Dementia Drugs Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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