PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1536674
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1536674
Dementia Treatment Market size was valued at USD 17,790.21 Million in 2023, expanding at a CAGR of 7.80% from 2024 to 2032.
Dementia treatment focuses on managing symptoms, improving quality of life, and slowing the progression of the disease. Dementia treatment plans are often tailored to the individual and may require adjustments over time as the disease progresses.
Dementia Treatment Market- Market Dynamics
Growing prevalence of dementia and increased investment in research & development are expected to propel market demand
The number of individuals affected by dementia is increasing especially among older adults, which fuels demand for effective treatments and care solutions. Greater awareness of dementia symptoms and improved diagnostic tools lead to earlier detection and treatment, contributing to market growth. Further, support from governments and healthcare organizations, including funding for research and development and public health campaigns, helps drive innovation and access to treatments. Thus, As the prevalence of dementia increases, there is a growing need for supportive care services, including home care, long-term care facilities, and caregiver support, driving market growth.
Advances in medical technology, such as digital health solutions, telemedicine, and personalized medicine, are enhancing treatment options and improving patient management. Additionally, Significant investments from pharmaceutical companies, biotech firms, and venture capitalists into dementia research and drug development contribute to the expansion of the market. The introduction of new drugs and treatments, particularly those receiving regulatory approval, contributes to market growth by expanding available options for managing dementia.
Dementia Treatment Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.80% over the forecast period (2024-2032)
Based on Indication segmentation, the Alzheimer's disease (AD) dementia segment was predicted to show maximum market share in the year 2023, owing to the increased prevalence if Alzheimer's disease.
Based on Drug Class segmentation, the cholinesterase inhibitors segment was the leading drug class in 2023, due to high prescription rates of galantamine, donepezil, etc.
Based on Distribution Channel segmentation, the hospital pharmacy segment was the leading Distribution Channel in 2023, owing to the high need for hospital treatment.
On the basis of region, North America was the leading revenue generator in 2023, owing to presence of top pharmaceutical companies & advanced medical facilities.
The Global Dementia Treatment Market is segmented on the basis of Indication, Drug Class, Distribution Channel, and Region.
The market is divided into six categories based on Indication: Alzheimer's Disease Dementia, Vascular Dementia, Lewy Body Dementia, Frontotemporal Dementia (FTD), Parkinson's Disease Dementia, and others. The Alzheimer's Disease Dementia segment dominates the market. With the increasing approval of new therapeutics drugs in Alzheimer's boosting segment growth.
The market is divided into five categories based on Drug Class: cholinesterase inhibitors, NMDA receptor antagonists, MAO inhibitors, combination drugs, and others. The combination drugs segment is projected to grow at the highest rate over the forecast period.
The market is divided into three categories based on Distribution channels: hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment dominates the market and is expected to maintain its high dominance during the forecast period. Online pharmacy is anticipated to grow at the fastest rate during the forecast period with the rapid digitalization in healthcare.
Dementia Treatment Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America dominates the Dementia Treatment market. High prevalence due to aging populations. In the U.S., nearly 6.5 million people aged 65 and older are living with Alzheimer's disease. North America holds a significant share of the global market due to advanced healthcare infrastructure, high healthcare expenditure, and robust research and development activities. Europe is a key market in the dementia treatment market with considerable investments in research and healthcare services.
The dementia treatment market is highly competitive, with numerous companies involved in developing and novel drug therapies. Market players have a strong emphasis on Alzheimer's research and innovative treatments. Companies are increasingly investing in personalized medicine approaches to tailor treatments to individual patient profiles. Strategic alliances with academic institutions and other companies are focusing on enhancing research capabilities and speeding up drug development.
In January 2024, Eisai Co., Ltd. and Biogen got approval for Leqembi for the treatment of mild cognitive impairment due to AD dementia.
In May 2023, Eli Lilly stated the positive results of a phase-3 clinical study demonstrated that donanemab significantly slowed cognitive and functional decline in Alzheimer's disease.