Report Code: A12014 | Oct 2022 | Pages: 265 | ||
Tables: 147 | Charts: 60 |
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The global dementia drugs market size was valued at $8.7 billion in 2021, and is projected to reach $19.7 billion by 2031, growing at a CAGR of 8.5% from 2022 to 2031.
Dementia entails a decline in mental function from a previously higher level that is severe enough to interfere with daily living. A person with dementia has two or more of these specific difficulties, including decline in memory, reasoning, language, coordination, mood, and behavior. Furthermore, dementia develops when parts of the brain involved with learning, memory, decision-making or language are affected by infections or diseases. The most common cause of dementia is Alzheimer’s disease. Dementia is caused by damage to brain. Dementia affects brain’s nerve cells, which destroys brain’s ability to communicate with its various areas. Dementia can also result from blocked blood flow to brain, depriving it of needed oxygen and nutrients. Without oxygen and nutrients, brain tissue dies. Damage to brain results in different symptoms, depending on the area of brain that is affected. Some dementias are not reversible and worsen over time.
Increase in demand for dementia drugs market size is anticipated to increase globally during the forecast period, owing to increase in the prevalence of Alzheimer’s disease, advancement in R&D activities for drug development, and rise in adoption of early diagnosis. In addition, the growing geriatric population, increase in investment by players in R&D, and presence of robust pipeline candidates, rise in expenditure on the development of healthcare infrastructure, increase in public awareness about the disease prevention in developing regions, and surge in demand for personalized medicine further drive the growth of the market globally. However, strict government regulations related to product approval and high cost linked to R& D activity restrain the growth of dementia drugs industry. Conversely, accelerated technological advancement in drug discovery technique and high investment by the government for drug development are expected to offer lucrative dementia drugs market opportunity for the key player in the market.
The outbreak of COVID-19 has a positive impact on the dementia drugs market. According to Alzheimer’s Disease International, in September 2021, it was reported that the pandemic caused a significant rise in the number of dementia patients in the long term, as some research has shown that COVID-19 infection can increase a person’s likelihood of developing dementia and cause dementia symptoms to show up earlier. Moreover, COVID-19 shows adverse impact on brain function by reducing the level of consciousness. Thus, increase in infection of COVID-19 in patients with Alzheimer’s disease increased the demand for dementia drugs during the pandemic.
The dementia drugs market is segmented into Indication, Drug Class and Distribution Channel.On the basis of indications, the market is divided into Lewy body dementia, Parkinson’s disease dementia, Alzheimer’s disease, vascular dementia, and other indications. On the basis of drug class, the market is classified into cholinesterase inhibitors and NMDA antagonist and its combination drugs. On the basis of distribution channel, the market is classified into hospital pharmacies, retail pharmacies, and online pharmacies. Furthermore, on the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global dementia drugs market by Indications
By Indications, the Alzheimer's disease segment was the major revenue contributor of dementia drugs market share in 2021 and is anticipated to continue this trend during the forecast period, owing to increase in life expectancy, rise in ageing population, and changes in lifestyle. In addition, the growth is associated with rapid improvement in medical infrastructure, increase in scientific studies associated with the treatment, and monitoring of Alzheimer's disease, as well as significant government and private sector funding in the Alzheimer's research, which further boosts the dementia drugs market growth. On the other side, the vascular dementia segment is projected to exhibit the fastest market growth during the forecast period, owing to increasing number of populations at high risk of vascular dementia such as geriatrics and smokers, as well as increasing understanding of diagnosis modalities. In addition, increasing focus to develop vascular dementia treatment for the underlying disease and the absence of any FDA-approved drug further boost dementia drugs industry growth.
Global dementia drugs market by drug class
By drug class, the cholinesterase inhibitors segment was the major revenue contributor in 2021 and is anticipated to continue this trend during the forecast period, owing to increase in geriatric population, increase in prevalence of dementia, and growth in drug discovery. In addition, certain factors such as emerging technologies, developing markets, and government initiatives toward R&D of Alzheimer’s therapeutics are expected to fuel the cholinesterase inhibitors segment growth during the forecast period.
Global dementia drugs market by distribution channel
By distribution channel, the hospital pharmacies segment was the major revenue contributor of dementia drugs market share in 2021 and is anticipated to continue this trend during dementia drugs market forecast, owing to increase in geriatric population and Alzheimer’s patients.
Global dementia drugs market by region
By region, North America dominated the market in 2021, accounting for the highest share, and is anticipated to maintain this trend during the forecast period, owing to investments made by key players for various R&D activities as well as launch of new products in the U.S. In addition, increase awareness among consumers for the adoption of dementia drugs further boosts the dementid drugs industry growth.
The major companies profiled in the report include, 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.
Dementia Drugs Market Report Highlights
Aspects | Details |
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Market Size By 2031 | USD 19.7 billion |
Growth Rate | CAGR of 8.5% |
Forecast period | 2021 - 2031 |
Report Pages | 265 |
By Indication |
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By Drug Class |
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By Distribution Channel |
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By Region |
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Key Market Players | apotex inc., Eisai, Biogen Idec, , F. Hoffmann-La Roche AG, Teva Pharmaceutical Industries, Novartis AG, Johnson & Johnson, Abbvie Inc, Aurobindo Pharma Ltd, Eli Lilly and Company |
This section provides the opinions of the top level CXOs in the dementia drugs market. According to the CXOs, dementia is a neurologic disorder that causes infection to the brain.
As per the CXOs, the pharmaceutical industry is undertaking rapid and exceptional measures to bring more innovative products for patients and has opened new approaches in the pharmaceutical industry. According to National Plan of Alzheimer’s Disease, in 2021, it has launched National Alzheimer’s Project Act. This act has an aim to prevent and treat the Alzheimer’s Disease and related Dementias by 2025, enhance public awareness and engagement, and accelerate action to promote healthy aging and reduce risk factors for Alzheimer’s disease. Thus, rise in number of initiatives taken by private organization for the management of dementia significantly drives the growth of the market.
The CXOs further added that the Alzheimer’s disease segment holds the largest share in the market owing to increase in life expectancy, rise in ageing population, and changes in lifestyle. In addition, the cholinesterase inhibitors segment holds the largest share in the market, owing to strong availability of the dementia drugs among large number of key players in the market. Moreover, North America is expected to offer lucrative opportunities to the market during the forecast period, owing to rise in geriatric population in the region, which led to increase in the demand for dementia drugs across the region. However, Asia-Pacific registered the fastest growth rate during the forecast period, owing to developments in healthcare infrastructure, rise in disposable incomes, and well-established presence of domestic companies in the region.
A. The forecast period for dementia drugs market is 2022 to 2031
A. The total market value of dementia drugs market is $8662.17 million in 2021.
A. increase in the prevalence of Alzheimer’s disease, advancement in R&D activities for drug development, and rise in adoption of early diagnosis propel the growth of the market
A. North America is the largest regional market for Global Dementia Drugs.
A. Top companies such as Abbvie Inc., Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Novartis Ag and Teva Pharmaceuticals. held a high market position in 2021.
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