Global Mild Cognitive Impairment Market Size To Grow USD 3.5 Billion by 2032 | CAGR of 5.24%Category: Healthcare
Global Mild Cognitive Impairment (MCI) Market To Grow $3.5 Billion by 2032
According to a research report published by Spherical Insights & Consulting, Global Mild Cognitive Impairment (MCI) Market Size is To Grow from USD 2.1 Billion in 2022 to USD 3.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.24% during the forecast period.
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Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Mild Cognitive Impairment (MCI) Market Size, Share, and COVID-19 Impact Analysis, By Age (Child, Adult, and Geriatric), By Indications (Lewy Body Dementia, Parkinson's Disease Dementia, Alzheimer’s Disease, Vascular Dementia, and Other Indications), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032". Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/mild-cognitive-impairment-market
Mild cognitive impairment (MCI) is the term used to describe a stage of memory loss or other cognitive skill loss (such as language or visual/spatial perception) in persons who can still perform the majority of everyday tasks on their own. Mild cognitive impairment comes from several factors, and people who already have it may acquire dementia. mild cognitive impairment is a stage of the disease for neurodegenerative conditions like Alzheimer's. Mild cognitive impairment individuals sometimes regain stable cognitive functions. The market for managing and treating mild cognitive impairment comprises goods and services such as medications, diagnostic exams, and therapies. Due to an aging global population and growing awareness of cognitive impairment, the market is anticipated to expand rapidly in the upcoming years.
The increasing elderly population around the world is primarily responsible for the need for products for mild cognitive impairment. For instance, according to the National Institute on Aging, people with mild cognitive impairment are more likely to develop hypertension or dementias of a similar sort than people without it. Additionally, some research has indicated that particular genetic variables may play a role in the emergence of mild cognitive impairment. There has been evidence connecting a history of traumatic brain injury (TBI) to a higher risk of cognitive aging and mild cognitive impairment. Furthermore, it can be challenging for people to ask for assistance or for caregivers to offer support because cognitive decline and memory issues are frequently stigmatized. Moreover, Economic downturns and changes in healthcare policy can impact the availability of funding for research and development, which can impact the growth of the mild cognitive impairment market.
COVID 19 Impact
COVID-19 has significantly burdened social and healthcare systems for people with dementia around the world. As a result of the limits put in place to stop the virus's spread, services and assistance for MCI sufferers have been cut back. The epidemic has also increased the need for digital intervention and delayed the delivery of mental health care. These effects have increased the demand for effective remote care for dementia to offset the disruptions caused by the pandemic. Because cognitive issues make it challenging to adhere to the safety precautions intended to prevent viral transmission, the dementia community is at significant risk of contracting COVID-19 infection, according to the National Library of Medicine. The pandemic thus harmed the market's potential for growth for mild cognitive impairment (Dementia).
The amnestic segment is driving the market with the largest market share over the forecast period.
Based on the disease types, the global mild cognitive impairment market is bifurcated into amnestic mild cognitive impairment, & non-amnestic mild cognitive impairment. Among these, the amnestic segment held the largest market share over the forecast period due to a growing older population worldwide. Patients with amnestic mild cognitive impairment may begin to forget about meetings, conversations, and recent events that they would typically be able to recall easily.
The geriatric segment held the largest market share during the forecast period.
Based on age, the global mild cognitive impairment market is segmented into child, adult, and geriatric. Among these, the geriatric segment is dominating the market over the forecast period due to due to a rise in the number of elderly persons who have been impacted globally. A more severe decline in memory, attention, and cognitive function than would be predicted given age and educational level can be used to diagnose it.
The alzheimer’s disease segment is leading the largest market during the forecast period.
Based on the indication, the global mild cognitive impairment market is divided into lewy body dementia, parkinson's disease dementia, alzheimer’s disease, vascular dementia, and other Indications. Alzheimer's disease is predicted to have the greatest market share among them throughout the projection period due to its high frequency, which is responsible for the vast majority of mild cognitive impairment cases worldwide.
North America is dominating the market with the largest market share during the forecast period
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North America dominated the global market in terms of revenue share for the treatment of moderate cognitive impairment, due to an increase in the incidence of Alzheimer's disease and other types of dementia and an increase in R&D activities to develop novel medicines. The general public's knowledge of mental health issues is also rising in this region.
Asia Pacific is anticipated to have significant growth over the forecast period due to factors like expanding government spending on healthcare infrastructure and an increase in the prevalence of target diseases like Alzheimer's and Parkinson's disease, the market for products to treat mild cognitive impairment is expected to develop.
Major vendors in the Global Mild Cognitive Impairment (MCI) Market include Pfizer Inc., Hoffman La Roche Ltd, Novartis AG, Accord UK Ltd, Reddy’s Laboratories Ltd, Hikma Pharmaceuticals PLC, Sun Pharmaceuticals Ltd, Johnson & Johnson Services, Inc., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Merck & Co Inc, SBI Pharmaceuticals Co Ltd, and Others.
key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In July 2022 the FDA approved Roche's Elecsys Amyloid Plasma Panel as a breakthrough product to help with Alzheimer's disease early detection.
- In July 2021, The FDA used the Accelerated Approval procedure to approve Biogen Aduhelm (aducanumab) for the treatment of Alzheimer's disease patients.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Mild Cognitive Impairment (MCI) Market based on the below mentioned segments:
Global Mild Cognitive Impairment (MCI) Market, By Disease Type
- Amnestic mild cognitive impairment
- Non-Amnestic mild cognitive impairment
Global Mild Cognitive Impairment Market, By Age
Global Mild Cognitive Impairment Market, By Indication
- Lewy Body Dementia
- Parkinson's Disease Dementia
- Alzheimer’s Disease
- Vascular Dementia
- Other Indications
Global Mild Cognitive Impairment Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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