Dementia Drugs Market | Shares, Growth, Size, Trends, Insights, Forecast

 


Dementia is one of the most common age-related medical conditions. As we age, mental processes and memory become suffering from changes in the brain, resulting in problems with memory, attention, mood, and behavior. Dementia can occur in anyone, though it is more common in elderly adults and people struggling with other mental disorders such as for instance depression, bipolar disorder, schizophrenia, obsessive-compulsive disorder, and post-traumatic stress disorder.



Market Dynamics



High prevalence of dementia is expected to propel growth of the Dementia Drugs Market. For example, in accordance with Alzheimer's Association, around 5.8 million people in the U.S. aged 65 and older are coping with Alzheimer's dementia in 2020. Moreover, increasing geriatric population can also be expected to aid in growth of the market. For example, based on the U.S. Census Bureau, the U.S. geriatric population is expected to attain 77 million by 2034.



R&D of new drugs is expected to provide lucrative growth opportunities for players in the dementia drugs market. For example, in September 2020, researchers from Garvan Institute of Medical Research in New South Wales, Australia, reported that metformin, a standard type 2 diabetes drug, may be effective in reducing the chance of dementia in individuals with type 2 diabetes.



Among regions, North America is expected to witness significant growth in the Dementia Drugs Market, owing to R&D of new drugs in the region. For example, in December 2020, Prevail Therapeutics Inc., a biotechnology company announced that the very first patient has been dosed in the Phase 1/2 PROCLAIM clinical trial evaluating PR006, an investigational AAV9 gene therapy delivering the GRN gene, for the treating frontotemporal dementia patients with GRN mutations.



Competitive Analysis



Major players operating in the Dementia Drugs Market include, Eisai, Inc., Janssen Pharmaceuticals, Inc., Biogen Pharmaceuticals, Forest Laboratories, Inc., Eli Lilly and Company, Novartis AG, Sanofi S.A., BioXcel Therapeutics, Inc., AstraZeneca GmbH, F. Hoffmann-La Roche, Merck & Co., Inc.., Valeant Pharmaceutical International, Pfizer Inc., and Teva Pharmaceuticals Industries Ltd.



Major players operating in the dementia drugs market are focused on R&D to expand their product portfolio. For example, in January 2021, BioXcel Therapeutics, Inc., a clinical-stage biopharmaceutical company, announced that BXCL501, the company's proprietary, orally dissolving thin film formulation of dexmedetomidine, met the primary and secondary endpoints of the TRANQUILITY trial at the 60 mcg dose level for the treating agitation in dementia.


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