Dementia Drugs Market

Market Overview:

The global dementia drugs market 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. The rising burden of target diseases across the globe, the expanding geriatric population, and favorable initiatives undertaken by governments of numerous countries represent some of the key factors driving the market.

Dementia is a medical condition that involves the loss of cognitive functioning - thinking, remembering, and reasoning as well as behavioral abilities to the extent that it interferes with an individual’s daily life and activities. It affects memory, language skills, visual perception, problem-solving, self-management, and the ability to focus. It occurs due to changes in specific brain regions that cause neurons or nerve cells to die, stop working properly, or lose connection with other brain cells. There are various types of dementia, including Lewy body dementia, Parkinson’s disease, Alzheimer’s disease, vascular dementia, and mixed dementia. Some common signs and symptoms of dementia comprise experiencing memory loss, poor judgment, and 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; and losing balance. At present, there is no cure for this disease; however, various dementia drugs are used to relieve its symptoms and mitigate side effects.

Dementia Drugs Market Trends:

The rising burden of target diseases across the globe represents the primary factor driving the market growth. Moreover, the expanding geriatric population that is more susceptible to developing chronic health conditions like Alzheimer’s disease, which is the most common cause of dementia in individuals, is acting as another growth-inducing factor. In addition, governments of numerous countries are taking favorable initiatives, such as launching awareness programs to educate the masses about disease prevention and treatment, especially in developing regions worldwide. Along with this, the increasing support and funding from various public and private agencies for drug development are contributing to market growth. Besides this, the escalating adoption of dementia drugs and various non-drug therapies to reduce symptoms and alleviate the side effects of different types of dementia while improving patients’ quality of life has catalyzed the product demand. Furthermore, the leading players are making extensive investments in research and development (R&D) activities to introduce novel and effective dementia drugs and therapies. In line with this, the emergence of new and innovative technologies and ongoing advancements in drug discovery techniques have propelled market growth. Other factors, including the growing patient pool, improving medical infrastructure, rising consumer preferences for personalized medicine, increasing healthcare spending, and the widespread presence of robust pipeline candidates, are also creating a positive market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global dementia drugs market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on indication, drug class, and distribution channel.

Indication Insights:

• Lewy Body Dementia
• Parkinson’s Disease Dementia
• Alzheimer’s Disease
• Vascular Dementia
• Others
   

The report has provided a detailed breakup and analysis of the dementia drugs market based on the indication. This includes Lewy body dementia, Parkinson’s disease dementia, Alzheimer’s disease, vascular dementia, and others. According to the report, Alzheimer’s disease represented the largest segment.

Drug Class Insights:

• Cholinesterase Inhibitors
• NMDA Antagonists and its Combination Drugs
   

A detailed breakup and analysis of the dementia drugs market based on the drug class has also been provided in the report. This includes cholinesterase inhibitors and NMDA antagonists and its combination drugs. According to the report, cholinesterase inhibitors accounted for the largest market share.

Distribution Channel Insights:

• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies
   

The report has provided a detailed breakup and analysis of the dementia drugs market based on the distribution channel. This includes retail pharmacies, hospital pharmacies, and online pharmacies. According to the report, hospital pharmacies represented the largest segment.

Regional Insights:

• 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
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for dementia drugs. Some of the factors driving the North America dementia drugs market included the increasing prevalence of neurological disorders across the region, rising government support and funding, and ongoing research and development (R&D) activities for dementia drugs, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global dementia drugs market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Abbvie Inc., Apotex Inc., Biogen Inc., Eisai Co. Ltd., Johnson & Johnson, Merck & Co. Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global dementia drugs market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global dementia drugs market?
• What is the impact of each driver, restraint, and opportunity on the global dementia drugs market?
• What are the key regional markets?
• Which countries represent the most attractive dementia drugs market?
• What is the breakup of the market based on the indication?
• Which is the most attractive indication in the dementia drugs market?
• What is the breakup of the market based on the drug class?
• Which is the most attractive drug class in the dementia drugs market?
• What is the breakup of the market based on distribution channel?
• Which is the most attractive distribution channel in the dementia drugs market?
• What is the competitive structure of the global dementia drugs market?
• Who are the key players/companies in the global dementia drugs market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the dementia drugs market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global dementia drugs market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the dementia drugs industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.