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. Increasing number of patients suffering from chronic diseases is the primary factor boosting the global dementia drugs market value. In addition, high government spending on drug development is another factor that is fueling the dementia drugs industry growth. Furthermore, key players focus on introduction of innovative solutions is one of the popular dementia drug market trends that are flourishing the industry growth in the coming years.
Dementia Drugs Market Report Key Highlights
According to Alzheimer’s Association, approximately 5.7 million people were living with dementia in 2018 within the United States. In addition, they projected that 13.9 million individuals aged 65 years or older will be diagnosed with Alzheimer’s disease or related dementias in the United States by 2060. According to World Health Organization worldwide, around 50 million people have dementia, and there are nearly 10 million new cases every year. In addition, government is spending high for developing the healthcare infrastructure in order to support the R&D activities along with availability of various business policies is influencing the growth of target market.
Global Dementia Drugs Market Dynamics
Dementia Drugs Market Report Coverage
|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
|Dementia Drugs Market Analysis Period
|2018 - 2030
|Dementia Drugs Market Base Year
|Dementia Drugs Market Forecast Data
|2022 - 2030
|By Drug Class, By Distribution Channel, And By Geography
|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.
|Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Dementia Drugs Market Insights
Initiatives by the government and non-government agencies to establish a platform with a focus to treat patients suffering from dementia are increasing. In 2017 World Health Organization, established the Global Dementia Observatory, an international surveillance platform for policy-makers and researchers to facilitate monitoring and sharing of information on dementia policies, service delivery, epidemiology, and research.
However, factors such as high costs associated with R&D activities and stringent government regulations related to product approval are factors expected to hamper the growth of the global dementia drugs market. In addition, the lack of regulatory standards in a developing country is expected to challenge the growth of the target market.
High investment by the government for drug development, rapid technological advancements in drug discovery techniques, and players' approach to the introduction of innovative solutions are factors expected to create new opportunities for players operating in the target market. In addition, an increasing partnership between regional and international players is expected to support the revenue growth of the target market.
Dementia Drugs Market Segmentation
The worldwide dementia drugs market is split based on drug class, distribution channel, and geography.
Dementia Drugs Market By Drug Class
According to our dementia drugs industry analysis, the MAO inhibitors sub-segment achieved a significant market share in 2021 and is likely to continue its trend during the forecasted timeframe from 2022 to 2030. Several studies have found that MAO inhibitors strengthen cognitive deficits and reverse A pathology by modulating amyloid precursor protein proteolytic cleavage and decreasing A protein fragments. As a result, MAO inhibitors may well be considered promising therapeutic agents for Alzheimer's disease.
Dementia Drugs Market By Distribution Channel
According to our dementia drugs market forecast, the hospital pharmacies is expected to generate a considerable market share from 2022 to 2030. On the other hand, the retail pharmacies are expected to witness faster growth in the target market. Increasing acceptance of over-the-counter drugs is one of the retail pharmacies market trend that is supporting the overall Alzheimer's disease market growth.
Dementia Drugs Market Regional Outlook
The Middle East & Africa (MEA)
Population Reference Bureau (PRB) Estimates 9 Million Americans Could Have Dementia by 2030
The market in North America is expected to account for significant revenue share owing to increasing number of patients suffering from chronic diseases. In addition, availability of advanced healthcare infrastructure and high investment by players for R&D activities are factors expected to support the growth of target market. Increasing focus on merger and acquisition activities in order to increase the business profit ratio and enhance the product portfolio is expected to support the growth of target market. However, the Asia-Pacific region is likely to attain a fastest growth rate in the coming years.
Dementia Drugs Market Players
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
The global dementia drugs companies profiled in the report include 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.
Players focus on enhancing the business presence in developing countries in order to enhance the business presence is expected to augment the growth of target market. In addition, focus on enhancing the business presence through strategic partnerships and product launches is expected to support the growth of target market.
In 2019, the FDA approved Rivastigmine (Exelon®), for mild-to-moderate Alzheimer’s as well as mild to moderate dementia associated with Parkinson’s disease.
In 2019, Biogen a global drug company submitted the application to Food and Drug Administration to approve an experimental drug, aducanumab, to treat people with mild cognitive impairment and the earliest signs of Alzheimer’s disease.
In 2016, Ajanta Pharma Limited launched anti-dementia Memantine Hydrochloride tablets in the US market. This is expected to help the company to enhance the customer base and strengthen its position in US market.
The market size of dementia drugs market in 2021 was accounted to be USD 15.5 Billion.
The projected CAGR of dementia drugs market during the analysis period of 2022 to 2030 is 8.7%.
The prominent players of the global dementia drugs market are 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.
North America held the dominating dementia drugs during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for dementia drugs during the analysis period of 2022 to 2030.
Increasing number of dementia cases, rising prevalence of Alzheimer’s in the world, and growth in cases of chronic disorders drives the growth of global dementia drugs market.
Based on drug class, MAO inhibitors segment is expected to hold the maximum share dementia drugs market.