Treatment for Syndromes of Dementia and Movement Disorders Market Trends, Outlook and Opportunity Analysis 2024
A rise in the incidence of various neurodegenerative diseases has greatly impacted the market for the treatment for syndromes of dementia and movement disorders. According to the World Health Organization, over 47 million people around the globe were living with dementia in 2015. This is projected to increase to over 75 million in another 15 years. Owing to the under-recognition of this group of diseases in the past, the market for the same holds a promising future.
The global market for treatment for syndromes of dementia and movement disorders can be bifurcated into technological treatment and drug-based treatment. Neurodegenerative diseases such as Lewy body dementia, Huntington’s disease, Alzheimer’s disease, Pick’s disease, and Parkinson’s disease can be controlled or treated with the help of therapeutic drugs and technological options such as tau tangling inhibitors, monoclonal antibodies, immunization strategies, and biomarkers.
The report offers a granular view of the treatment for syndromes of dementia and movement disorders market, taking into consideration the prominent forces acting in its favor and those creating roadblocks. A detailed evaluation of the regional and disease-type segments has been included in the study in order to give readers a clear and complete understanding of the market dynamics.
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Treatment for Syndromes of Dementia and Movement Disorders Market: Trends and Opportunities
The market for treatment for syndromes of dementia and movement disorders is driven by a rapidly expanding geriatric population highly susceptible to various neurodegenerative diseases. According to HelpAge International, currently nearly 1 in 10 people are over the age of 60, which is likely to rise to 1 in 5 people by 2050. Moreover, by 2050, the number of people above the age of 60 will exceed that of children below the age of 14.
Another factor slated to positively impact the market are frequent collaborations between pharmaceutical companies, drug and device manufacturing firms, research organizations, and medical institutes. These alliances have resulted in aggressive R&D efforts aimed at the discovery of effective treatment options for syndromes of dementia and movement disorders.
The market is, nevertheless, affected by several challenges that threaten to impede its growth over the coming years. A key restraining factor is limited knowledge regarding brain mechanisms and the different neurodegenerative diseases. In addition to this, the absence of comprehensive therapeutic and management solutions for neurological disorders, drug failures in late-stage clinical trials, rigid regulatory requirements, and lengthy approval time for drugs and devices act as deterrents to the growth of the market for the treatment for syndromes of dementia and movement disorders.
Treatment for Syndromes of Dementia and Movement Disorders Market: Regional Outlook
Geographically, the market for the treatment for syndromes of dementia and movement disorders comprises Asia Pacific, North America, Europe, and Rest of the World. North America has accounted for a significant share in the overall market, driven primarily by the high incidence rate of neurodegenerative disorders, also resulting in a greater number of people living with restricted mobility. With a significantly aging American population, the number of people afflicted by various neurological diseases has increased. The National Institute of Neurological Disorders and Stroke finds that an estimated 50 million people in the U.S. are affected by a neurologic disorder each year. The market for the treatment for syndromes of dementia and movement disorders in Europe is also a strong contender in the overall scenario and is fueled by similar factors.
Asia Pacific is anticipated to register healthy growth over the course of the forecast period with an increasing number of awareness programs initiated by public as well as private healthcare institutions. A massive population base, including geriatrics, and expanding healthcare insurance coverage are also responsible for the projected growth of the Asia Pacific treatment for syndromes of dementia and movement disorders market.
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Companies mentioned in the research report
Hoffmann-La Roche, Pfizer, AstraZeneca GmbH, Novartis AG, Merck & Co., Sanofi S.A., and Valeant Pharmaceutical International some of the leading players competing in the global market for the treatment for syndromes of dementia and movement disorders. Companies such as FORUM Pharmaceuticals, Axovant Sciences, and Biotie have, in the past, dedicated resources toward the research and development of treatment methods for key neurodegenerative disorders. Strong product pipeline has enabled many of these pharma companies to gain a strong foothold in the treatment for syndromes of dementia and movement disorders market. Other growth strategies that have proven to be effective in this market include collaborations, investments, and clinical trials.
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