The global dementia management market is poised for significant growth, with projections estimating a market value of USD 35 Million in 2023, and a remarkable increase to USD 75.56 Million by 2033. This represents a robust Compound Annual Growth Rate (CAGR) of 8% during the forecast period from 2023 to 2033. The market has already experienced steady growth, registering a CAGR of 5% from 2018 to 2022.
Dementia management is an integral segment of the healthcare industry, focusing on improving the quality of life for individuals affected by dementia. This market encompasses a wide array of products and services, including medications for symptom management, assistive technology devices, in-home care services, and specialized memory care facilities. These offerings play a vital role in enhancing the daily lives of dementia patients, helping them to maintain independence for as long as possible.
As the global aging population increases, the demand for effective dementia management solutions is expected to rise, contributing to the market’s impressive growth. Innovations in drug therapies, personalized care plans, and technology-driven solutions are expected to drive market expansion throughout the next decade.
Key Drivers for Market Growth:
- The growing number of dementia cases due to aging populations worldwide.
- The increasing availability and adoption of assistive technologies and homecare services.
- Rising awareness and demand for specialized memory care facilities.
With advancements in treatment and care options, the dementia management market is positioned to evolve rapidly. The combination of new drug therapies, enhanced patient care models, and technological innovations will continue to support the market’s growth trajectory, offering hope for millions of individuals and their families impacted by dementia.
Key Takeaways from the Market Study:
- From 2018 to 2022, the Dementia Management market grew at a CAGR of 5%.
- The global Dementia Management market is expected to grow with a 8% CAGR during 2023 to 2033.
- As of 2033, the Dementia Management Market is expected to reach USD 75.56 Million
- According to the FMI analysis, Alzheimer accounts for the largest market share.
- North America is expected to possess 40% market share for the Dementia Management market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a share of 25% during the forecast period.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Dementia Management.” says an FMI analyst
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Market Competition:
Key players in the Dementia Management Market are Pfizer, Inc., Novartis AG, and Eli Lilly and Company, as well as healthcare providers and technology companies such as Teva Pharmaceutical Industries Ltd., GE Healthcare, and BrainScope among other global players.
- In April 2022, NovaMedica developed and registered an innovative combination of Donepezil and Memantine molecules, the primary therapies for dementia associated with Alzheimer’s disease. The drug is registered under the name MIOREOL. This is one of the combinations in the Russian market and the markets of the Eurasian Economic Union members and Europe.
- In March 2022, Corium, Inc. received United States FDA approval for ADLARITY (donepezil transdermal system) as a treatment for patients with mild, moderate, or severe dementia of Alzheimer’s type.
Key Segments Profiled in the Dementia Management Industry Survey:
Type:
- Alzheimer’s Disease Dementia
- Vascular Dementia
- Dementia With Lewy Bodies (Dlb)
- Parkinson’s Disease Dementia
- Frontotemporal Dementia
Drug Class:
- MAO Inhibitors
- Glutamate Inhibitors
- Cholinesterase Inhibitors
Therapy:
- Cognitive Stimulation Therapy
- Cognitive Behavioural Therapy
Route of Administration:
- Oral
- Parental
Distribution Channel:
- Online Pharmacies
- Retail Pharmacies
- Hospital Pharmacies
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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