Global Dementia Drugs Market Size, Share, and COVID-19 Impact Analysis By Indication (Lewy Body Dementia, Parkinsons Disease Dementia, Alzheimers Disease, Vascular Dementia, Other Indications), By Drug Class (Cholinesterase Inhibitors, NMDA Antagonists and its Combination Drugs), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Healthcare
Global Dementia Drugs Market Insights Forecasts to 2030
- The Dementia Drugs Market Size was valued at USD 20.1 Billion in 2021.
- The Market is Growing at a CAGR of 9.3% from 2022 to 2030
- The Worldwide Dementia Drugs Market Size is expected to reach USD 36.7 Billion by 2030
- Asia Pacific is expected to Grow the fastest during the forecast period
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The Global Dementia Drugs Market is expected to reach USD 36.7 Billion by 2030, at a CAGR of 9.3% during the forecast period 2022 to 2030.
Dementia is a decline in the mental function from higher level which is likely to hamper the lifestyle of a person. People who are suffering from dementia have one or more of such type of difficulties such as memory loss, coordination, lack of coordination, reasoning, language, behaviour, and mood. In addition, dementia occurs when a part of a brain is busy in decision making, memory, learning, or language are affected by diseases or medication. One of the most common causes of dementia is Alzheimer’s disease. As mentioned earlier, the disorder occurs owing to the brain damage. It not only affects the nerve cells present in the brain but also destroys the capacity of the brain in communicating with other body parts. Dementia also happens from the blocked blood flow to brain that is deprived of nutrients and oxygen.
Impact of COVID 19 on Global Dementia Drugs Market
Due to the outbreak of COVID 19 pandemic, the virus has spread infection to more than 100 countries globally and the WHO has declared it as a pandemic on 30 January 2020. The pandemic has severely affected the demand and the production of drugs by creating supply chain disruption which has led the impact on companies and financial markets. In order to reduce the spready of virus, various countries including India, China, UAE, Saudi Arabia, and others have imposed nationwide lockdowns due to which the transportation of drugs have stopped. As a result the pandemic has resulted negative impact on the global dementia drugs market due to the side effects of COVID 19 on dementia patients.
Global Dementia Drugs Market Report Coverage
|Market Size in 2021:||USD 20.1 Billion|
|Forecast Period 2021-2030 CAGR:||9.3%|
|2030 Value Projection:||USD 36.7 Billion|
|Historical Data for:||2019-2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Indication, By Drug Class, By Distribution Channel, By Region and COVID-19 Impact Analysis|
|Companies Covered:||Apotex inc., Aurobindo Pharma Ltd, Biogen Idec, Eisai, Eli Lilly and Company, Johnson & Johnson, Abbvie Inc, F. Hoffmann-La Roche AG, Teva Pharmaceutical Industries, Novartis AG|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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Key Driving Factors
Increasing cases of Alzheimer’s disease across the world to propel the market growth
The rising prevalence of Alzheimer’s disease across the world is anticipated to propel the global dementia drugs market growth over the forecast period. A data presented by the Centers for Disease Control and Prevention (CDC) states that Alzheimer is the common cause of dementia along the elderly people Around 6.2 million citizens of the U.S. were anticipated to be suffering from Alzheimer’s disease in the year 2021.
Key Market Challenges
Certain factors are going to affect the global dementia drugs market growth such as failure of investigational candidates in the last stage. On 12 June 2018, AstraZeneca which is biopharmaceutical company and Eli Lilly made an announcement about the discontinuation of the Phase III clinical trials of lanabecestat which is an oral beta secretase cleaving enzyme inhibitor that helps in treating Alzheimer’s disease.
Alzheimer’s Disease is dominating the market with the largest market share
On the basis of indication, the global dementia drugs market is segmented into Lewy Body Dementia, Parkinsons Disease Dementia, Alzheimers Disease, Vascular Dementia, Other Indications. Among these, the Alzheimer’s disease segment is dominating the market with the largest market share over the forecast period because of changes in lifestyle, an ageing population, and an increase in life expectancy. Additionally, the market for dementia medications is expected to grow as a result of the quick development of medical infrastructure, the expansion of scientific research into the diagnosis, treatment, and monitoring of Alzheimer's disease, as well as significant funding from both the public and private sectors for Alzheimer's research.
Drug Class Insights
Cholinesterase segment holds the largest market share over the forecast period
Based on the drug class, the global dementia drugs market is segmented into Cholinesterase Inhibitors, NMDA Antagonists and its Combination Drugs. Among these, the Cholinesterase segment is dominating the market and is likely to continue its dominance over the upcoming years due to an increase in the number of elderly people, a rise in dementia prevalence, and a rise in medicine discoveries. Additionally, a number of elements such as developing markets, evolving technologies, and government initiatives to fund the R&D of Alzheimer's treatments are anticipated to propel the expansion of the cholinesterase inhibitors market during the forecast period.
Distribution Channel Insights
Hospital pharmacies segment holds the largest market share over the forecast period
On the basis of distribution channel, the global dementia drugs market is segmented into Retail Pharmacies, Hospital Pharmacies, Online Pharmacies. Among these, the hospital pharmacies segment holds the largest market share due to rise in the number of elderly people and Alzheimer’s disease patients.
North America is dominating the market with the largest market share over the forecast period.
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North America is dominating the market with the largest market share and is going to continue its dominance over the forecast period due to significant businesses' spending in various R&D projects and the introduction of new products in the United States. The industry for dementia drugs is also growing as public awareness of the need for dementia medications rises.
Europe, on the other hand is holding the second largest market share a result of a number of causes, including the rising prevalence of neurological illnesses in nations like the United Kingdom and Germany, the expansion of strategic development by market participants operating in the business, and the rise in the number of government initiatives.
Recent Market Developments
- In February 2021, Exscientia partnered with the Alzheimer’s Research United Kingdom University of Oxford Drug Discovery Institute in order to develop Alzheimer’s disease medicines.
List of Key Companies
- Apotex inc.
- Aurobindo Pharma Ltd
- Biogen Idec
- Eli Lilly and Company
- Johnson & Johnson
- Abbvie Inc,
- F. Hoffmann-La Roche AG
- Teva Pharmaceutical Industries
- Novartis AG
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Dementia Drugs Market based on the below-mentioned segments:
Dementia Drugs Market, Indication Analysis
- Lewy Body Dementia
- Parkinsons Disease Dementia
- Alzheimers Disease
- Vascular Dementia
- Other Indications
Dementia Drugs Market, Drug Class Analysis
- Cholinesterase Inhibitors
- NMDA Antagonists
- Combination Drugs
Dementia Drugs Market, Distribution Channel Analysis
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
Dementia Drugs Market, 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
Frequently Asked Questions (FAQ)
1. What is the market size of Dementia Drugs Market?The global Dementia Drugs Market is expected to grow from USD 20.1 Billion in 2021 to USD 36.7 Billion by 2030, at a CAGR of 9.3% during the forecast period 2022-2030.
2. Who are the key market players of Dementia Drugs Market?Some of the key market players of Dementia Drugs Market are apotex inc., Aurobindo Pharma Ltd, Biogen Idec, Eisai, Eli Lilly and Company, Johnson & Johnson, Abbvie Inc, , F. Hoffmann-La Roche AG, Teva Pharmaceutical Industries, Novartis AG.
3. Which segment hold the largest market share?Hospital Pharmacies segment hold the largest market share is going to continue its dominance.
4. Which region is dominating the Dementia Drugs Market?North America is dominating the Dementia Drugs Market with the highest market share.
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