Press release
Dementia Care Products Market to Surpass USD 35 Million by 2030
The global dementia care products market, valued at USD 23.04 million in 2023, is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.4% from 2024 to 2030, reaching approximately USD 35.57 million by 2030. This growth is fueled by the increasing prevalence of Alzheimer's disease, advancements in caregiving technologies, and heightened awareness about dementia care.
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Competitive Landscape
Key players in the dementia care products market include Eisai Co., Ltd., Eli Lilly and Co., Novartis AG, Daiichi Sankyo Co., Ltd., AbbVie Inc., H. Lundbeck A/S, Biogen Inc., Cipla Ltd., Sun Pharmaceutical Industries, and Viatris Inc. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to expand their global footprint and meet the rising demand for dementia care products.
Regional Demand and Growth Patterns
North America currently leads the dementia care products market, driven by its aging population and advanced healthcare infrastructure. The Asia-Pacific region is anticipated to register the highest growth during the forecast period, primarily due to a large base of the geriatric population and increasing awareness about dementia care.
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Country-Specific Insights
India: Growth in Dementia Prevalence
India's dementia treatment market generated a revenue of USD 465.4 million in 2023 and is expected to reach USD 904.6 million by 2030, growing at a CAGR of 10% from 2024 to 2030. The increasing prevalence of dementia and rising awareness about caregiver support are driving the demand for dementia care products in the country.
Japan: Trends in Smart Infrastructure
Japan's investment in smart infrastructure and IoT integration necessitates advanced dementia care products that can accommodate sophisticated electronic systems while ensuring safety and efficiency.
South Korea: Consolidation in Electronics Manufacturing
South Korea's electronics manufacturing sector is consolidating, leading to increased demand for standardized and high-quality dementia care products to protect sensitive electronic components.
Singapore: Updation in Data Center Infrastructure
Singapore's expansion of data center infrastructure requires reliable dementia care products to safeguard critical electrical systems and ensure uninterrupted operations.
United States: Growth in Renewable Energy Installations
The United States is experiencing growth in renewable energy installations, such as solar and wind farms, which drives the need for durable dementia care products to protect electrical equipment from environmental factors.
China: Trends in Urbanization and Smart Cities
China's rapid urbanization and development of smart cities are increasing the demand for dementia care products that can support advanced electrical systems in residential and commercial buildings.
Europe: Opportunities in Industrial Safety Regulations
Europe's stringent industrial safety regulations are creating opportunities for dementia care product manufacturers to provide products that meet high safety standards across various industries.
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Dementia Care Products Market Segmentions
by Product
Personal Safety Products
Daily Reminder Products
Memory Exercise & Activity Products
Dining Aids
Bathroom Safety Products
Other
by End-User
Long Term Care Centers
Home Care Settings
Other
Key Recent Developments
Eisai Co., Ltd. has launched next-generation Alzheimer's drugs like BACE inhibitors, aiming to improve the quality of life for dementia patients.
McGill University's Dementia Education Program was selected as one of the 15 initiatives to receive funding from the Public Health Agency of Canada, supporting projects focused on raising awareness of dementia and fostering dementia-inclusive communities.
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