The global Dementia Management Market is expected to garner a market value of USD 35 Million in 2023 and is expected to accumulate a market value of USD 75.56 Million by registering a CAGR of 8% in the forecast period 2023 to 2033. The market for Dementia Management registered a CAGR of 5% in the historical period 2018 to 2022.
The Dementia Management market is a segment of the healthcare industry that deals with the effective management of dementia. The Dementia Management market offers a range of products and services for the management and treatment of dementia. This market includes products and services such as drugs for symptom management, assistive technology devices, in-home care services, and memory care facilities.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 35 Million |
| Anticipated Forecast Value (2033) | USD 75.56 Million |
| Projected Growth Rate (2023 to 2033) | 8% CAGR |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
According to market research and competitive intelligence provider Future Market Insights- the market for Dementia Management reflected a value of 5% during the historical period, 2018 to 2022.
As the global population continues to age and the incidence of dementia increases, the demand for effective and innovative solutions for dementia management is expected to grow. A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering effective ways for Dementia Management.
According to the World Health Organization, in September 2022, around 55 million individuals worldwide had dementia, with more than 60% residing in low- and middle-income countries. As the proportion of the population over the age of 65 years rises in practically every country, this figure is predicted to climb to 78 million in 2030 and 139 million in 2050. Thus, the growing prevalence of dementia worldwide is expected to boost the market's growth.
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for Dementia Management. In the years to come, increasing focus by government organizations and private agencies like WHO and pharmaceutical companies to create awareness of Dementia Managements is fuelling the market growth. Thus, the market for Dementia Management is expected to register a CAGR of 8% in the forecast period 2023 to 2033.
Increased Prevalence of Dementia to Push the Market Growth
The global market for dementia management is driven by the growing geriatric population and the increasing number of people suffering from dementia. The prevalence of dementia is high in low and middle-income countries, offering a significant market opportunity for companies to expand their product offerings.
In October 2022, Lecanemab was released as a promising drug for the treatment of dementia that is characterized by a progressive decline in cognitive function. In clinical trials, the drug has been shown to slow the progression of the disease by attacking the protein clumps in the brain that are thought to be responsible for the disease.
Although the benefits of the drug were found to be small and accompanied by significant side effects, this is still a major step forward in the treatment of Alzheimer's. With the number of dementia cases expected to rise, the search for effective treatments and preventions is ongoing, and the development of lecanemab is a promising sign.
Principal Consultant
Expensive Cost of Treatment to restrict Market Growth
The market is projected to get significantly affected by the challenging factors such as limited availability and high cost of advanced Dementia Management products, lack of trained healthcare professionals in Dementia Management, limited access to quality dementia care facilities in developing countries, and stringent government regulations for approval of Dementia Management products. Furthermore, lack of health remuneration policies, rise in cost, and side effects associated with certain treatments is expected to hinder the market growth.
Improvement in healthcare spending propelling growth of Dementia Management in Asia Pacific
The Asia Pacific is expected to exhibit the significant growth rate of all regions over the forecast period, with a CAGR of 25% during the forecast period. The growth is owed to increased awareness, significant increases in healthcare spending, and a rising frequency of Dementia Management Market in the region. Asia Pacific is an emerging market due to the increase in point of care approach to health & care. Increasing number of hospitals in India and China makes a promising market for the market worldwide.
According to the National Library of Medicine, the number of people with dementia will increase from 27 million in 2020 to almost 71 million by 2050 in the Asia Pacific region.
That means by 2050 more than half of the people with dementia globally (135 million) will reside in this region. There have been several developments in the region, including country-specific initiatives by governments and Alzheimer's associations; this, in turn, led to the upsurge demand for dementia management in the APAC region.
Recently, "The Safe Bracelet Project" was introduced in Wenzhou to cheer the safety of people suffering from AD. Patients were handed GPS-enabled bracelets, which have assisted in locating numerous people affected by dementia after they strolled off to distant areas.
Technological Advancements Shaping Landscape for Dementia Management in North America
North America is anticipated to acquire a market share of about 40% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region.
According to the Centre for Disease Control and Prevention (CDC) report, in 2020, an estimated 5.8 million Americans aged 65 years or older had Alzheimer's disease.
This number is projected to nearly triple to 14 million people by 2060. Thus, focusing on an increasing count of patients suffering from Dementia in countries like the United States and Canada, the demand for dementia management has gradually increased.
Additionally, the increasing number of research partnerships and favorable regulatory policies also play a significant role in driving the growth of the market.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Alzheimer's disease segment is expected to hold a major market share
As per the Alzheimer’s Association 2021 report, the United States Food and Drug Administration (FDA) approved five drugs for treating Alzheimer’s, namely rivastigmine, galantamine, donepezil, memantine, and memantine combined with donepezil. The study further reported, the vast majority of people who develop Alzheimer’s dementia are aged 65 years or older. This is called late-onset Alzheimer’s.
In addition to this, in the United States, nearly 5.3% of people aged 65 to 74 years, 13.8% of people aged 75 to 84 years, and 34.6% of people aged 85 years or older have Alzheimer’s dementia. Additionally, an estimated 6.2 million Americans aged 65 years and older were living with Alzheimer’s dementia in 2021 and are projected to reach 13.5 million by 2050.
Considering these figures, the Alzheimer type of dementia is projected to push the market growth. Such a high prevalence of the disease is anticipated to bolster the demand for dementia management among the patient population over the coming years.
Cognitive Behavioral Therapy to take the lead and drive market growth
According to a study, Cognitive Behavioral Therapy (CBT) is a talking therapy that aims to help people understand these links between their thoughts, feelings and behaviors and use this understanding to make positive changes. CBT doesn’t work for everyone but it has become a popular way of helping people to cope with anxiety, depression and other mental health problems.
Therefore, the market segment is expected to be driven by cognitive behavioral therapy.
Key startups in the dementia management market include
Key players in the market include pharmaceutical companies such as 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.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 35 Million |
| Market Value in 2033 | USD 75.56 Million |
| Growth Rate | CAGR of 8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Therapy, Route of Administration, Distribution Channel, Drug class, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Middle East & Africa; Oceania |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, Association of Southeast Asian Nations, Gulf Cooperation Council, South Africa |
| Key Companies Profiled | Pfizer; Inc.; Novartis AG; and Eli Lilly and Company; Teva Pharmaceutical Industries Ltd.; GE Healthcare; and BrainScope |
| Customization | Available Upon Request |
The market is estimated to secure a valuation of USD 35 million in 2023.
The market is forecast to register a CAGR of 8% through 2033.
During 2018 to 2022, the market surged at a CAGR of 5%
The increased prevalence of dementia pushes the market growth.
The global market size is expected to reach USD 75.56 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Alzheimer's Disease Dementia 5.2. Vascular Dementia 5.3. Dementia With Lewy Bodies (DLB) 5.4. Parkinson's Disease Dementia 5.5. Frontotemporal Dementia 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 6.1. MAO Inhibitors 6.2. Glutamate Inhibitors 6.3. Cholinesterase Inhibitors 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Therapy 7.1. Cognitive Stimulation Therapy 7.2. Cognitive Behavioural Therapy 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Route of Administration 8.1. Oral 8.2. Parenteral 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 9.1. Online Pharmacies 9.2. Hospital Pharmacies 9.3. Retail Pharmacies 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Oceania 10.7. MEA 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Eli Lilly and Company 20.2. Eisai Co., Ltd. 20.3. Novartis AG 20.4. Cipla Inc 20.5. Aurobindo Pharma 20.6. Sun Pharmaceutical Industries Ltd 20.7. Mylan N.V. 20.8. Dr. Reddy’s Laboratories Ltd 20.9. Zydus Cadila 20.10. LUPIN 20.11. Torrent Pharmaceuticals Ltd 20.12. Johnson & Johnson Services, Inc 20.13. Pharmaceuticals PLC 21. Assumptions & Acronyms Used 22. Research Methodology
Explore Healthcare Insights
View Reports
Dementia Management Market
