Acumen Research and Consulting recently published report titled “Dementia Drugs Market Share, Analysis Report and Region Forecast, 2022 – 2030”
LOS ANGELES, Sept. 14, 2022 (GLOBE NEWSWIRE) — LOS ANGELES, September 14, 2022 (GLOBE NEWSWIRE) – The Global Dementia Drugs Market Size accounted for USD 15.5 Billion in 2021 and is estimated to garner a market size of USD 32.3 Billion by 2030 rising at a CAGR of 8.7% from 2022 to 2030.
Dementia Drugs Market Report Key Highlights
- Global dementia drugs market value was USD 15.5 Billion in 2021 and expected to grow at CAGR of 8.7% from 2022 to 2030
- As per WHO estimates, over 82 million people will be affected by dementia by 2030
- North America dementia drugs market occupied over 30% market share in coming years
- Asia-Pacific dementia drugs market will grow at fastest CAGR during the forecast period from 2022 to 2030
- Among drug class, MAO inhibitors occupied over 45% of the total market share in 2021
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|Market||Dementia Drugs Market|
|Dementia Drugs Market Size 2021||USD 15.5 Billion|
|Dementia Drugs Market Forecast 2030||USD 32.3 Billion|
|Dementia Drugs Market CAGR During 2022 – 2030||8.7%|
|Dementia Drugs Market Analysis Period||2018 – 2030|
|Dementia Drugs Market Base Year||2021|
|Dementia Drugs Market Forecast Data||2022 – 2030|
|Segments Covered||By Drug Class, By Distribution Channel, And By Geography|
|Dementia Drugs Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Janssen Pharmaceuticals, Inc., Biogen Pharmaceuticals, Forest Laboratories, Inc., Eli Lilly and Company, Novartis AG, Sanofi S.A., AstraZeneca, F. Hoffmann-La Roche, Merck and Co., Inc., Valeant Pharmaceutical International, Eisai, Inc., Pfizer Inc., and Teva Pharmaceuticals Industries Ltd.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The increasing number of dementia patients and high investment in drug discovery are expected to drive the growth of the global dementia drugs market. According to the Alzheimer’s Association, approximately 5.7 million people in the United States were living with dementia in 2018.
Dementia Drugs Market Dynamics
The increasing number of dementia patients worldwide, as well as increased player spending on drug R&D activities, is expected to drive the growth of the global dementia drugs market. According to the World Health Organization, approximately 50 million people worldwide have dementia, with nearly 10 million new cases diagnosed each year.
Initiatives by the government and non-governmental organizations to establish a platform with the goal of treating dementia patients are increasing. The World Health Organization established the Global Dementia Observatory in 2017 to facilitate monitoring as well as sharing of information on dementia regulations, service delivery, epidemiology, and research.
However, factors such as high R&D costs and strict government regulations regarding product approval are expected to stymie the growth of the global dementia drugs market. Furthermore, the lack of regulatory frameworks in developing countries is expected to impede the growth of the target market.
High government investment in drug development, swift technological advancements in drug discovery techniques and players’ approach to introducing innovative solutions are factors that are expected to create new opportunities for dementia drugs market players. Furthermore, increased collaboration between local and international players is anticipated to help market revenue growth.
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Dementia Drugs Market Segmentation
The global is segmented into drug class and distribution channel. The drug class is segmented into MAO inhibitors, glutamate inhibitors, and cholinesterase inhibitors. According to our dementia drugs market forecast, the MAO inhibitors sub-segment accounted for majority of the share from 2022 to 2030. The distribution channel is segmented into retail pharmacies, hospital pharmacies, and others. In 2021, hospital pharmacies sub-segment generated the maximum market share and is likely to do so in the coming years.
Dementia Drugs Market Regional Outlook
North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa (MEA) are the regional classification of the global dementia drugs industry. Because of the availability of sophisticated medical infrastructure for R&D activities, the market in North America is anticipated to account for a significant revenue share in the global dementia drugs market. Government spending on healthcare development is increasing.
The gradual increase in the number of dementia patients and massive investment by big players in order to launch novel products are factors supporting the target market’s growth. According to the Alzheimer’s Association, roughly 5.7 million people in the United States have dementia. Furthermore, they predicted that 13.9 million people aged 65 and up will be diagnosed with Alzheimer’s disease or related dementias in the U S by 2060.
The developing pharmaceutical industry in Asia-Pacific is expected to drive faster growth in the intended market over the forecast period. The evolving healthcare regulatory landscape, an increase in the number of patients with chronic diseases, and the government’s emphasis on enhancing R&D capabilities for innovative drug development are all expected to boost the target market’s growth.
The approach of major players to developing countries in order to increase business presence is anticipated to accelerate target market growth. Furthermore, strategic collaboration between local and international players is expected to support regional market growth.
- Ajanta Pharma Limited, a multinational pharmaceutical company, launched anti-dementia Memantine Hydrochloride tablets in the US market in 2016. This is expected to assist the company in expanding its customer base and strengthening its position in the US market.
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Dementia Drugs Market Players
Some of the leading dementia drugs companies operating in the industry include AstraZeneca, Biogen Pharmaceuticals, Eli Lilly and Company, Eisai, Inc., F. Hoffmann-La Roche, Forest Laboratories, Inc., Janssen Pharmaceuticals, Inc., Merck and Co., Inc., Novartis AG, Pfizer Inc., Sanofi S.A., Teva Pharmaceuticals Industries Ltd, and Valeant Pharmaceutical International.
Major players are expected to support the target market’s growth by enhancing their business presence through collaborative relationships and product launches.
- Rivastigmine (Exelon®) was approved by the FDA in 2019 for mild-to-moderate Alzheimer’s disease and mild-to-moderate dementia associated with Parkinson’s disease.
- In 2019, Biogen, a global pharmaceutical company, applied to the Food and Drug Administration to approve aducanumab, an experimental drug, to treat people with mild cognitive impairment and the early stages of Alzheimer’s disease.
Questions Answered By This Report
- What was the market size of Dementia Drugs Market in 2021?
- What will be the CAGR of Dementia Drugs Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Dementia Drugs Market?
- Which region held the largest share in Dementia Drugs Market in 2021?
- What are the key market drivers of Dementia Drugs Market?
- Who is the largest end user Dementia Drugs Market?
- What will be the Dementia Drugs Market value in 2030?
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Mr. Richard Johnson
Acumen Research and Consulting
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