Dementia consists of a class of mental dysfunction that affects an individual’s intellectual ability. The exact reason of the condition is uncertain and it is related to several mental disorders and neurodegenerative diseases. The treatment for syndromes of dementia and movement disorders depends on the cause of the disease. Dementia is observed to be a major cause of physical disability in elderly population worldwide. The treatment for the condition comprises a combination of medicines that can be small molecules and biological therapy.
Globally, the treatment for syndromes of dementia and movement disorders market was valued at US$12,859.8 million in 2014 and is anticipated to reach US$21,154.8 million by 2020, growing at a CAGR of 8.6% in the period.
Health Initiatives from Private and Public Agencies to Fuel Treatment for Syndromes of Dementia and Movement Disorders Market
Globally, the increasing incidence of neurodegenerative diseases such as neurological abnormalities, progressive dementia, and movement disorders is driving the treatment for syndromes of dementia and movement disorders market. Additionally, growing mental health awareness on account of investments and health initiatives taken by private organizations and state health agencies has spurred the growth of the market.
Also, technological advancement and increasing R&D activities for drug development and delivery will fuel the treatment for syndromes of dementia and movement disorders market. A growing number of partnerships and joint ventures is a significant trend observed in the treatment of syndromes of dementia and movement disorders market for research and drug development for dementia and movement disorders. Additionally, patent expirations of blockbuster drugs and emerging new technologies are also propelling the market.
However, strict regulations, lack of therapeutic management process for the condition, and the long approval process for new drugs will hamper the growth of the market in coming years. Additionally, almost all new drugs are unsuccessful in the third phase owing to insufficient knowledge of brain function and precise reasons of the mental disorder.
Progressive Dementia to Lead Treatment for Syndromes of Dementia and Movement Disorders Market
The treatment for syndromes of dementia and movement disorders market consists of two segments, namely drug treatment based on the type of neurodegenerative disorder and technological treatment. Neurodegenerative disorders are a class of diseases that include Pick’s disease, Alzheimer’s disease, Huntington’s disease, Parkinson’s disease, Lewy body dementia etc. The technological means of treatment are inclusive of biomarkers, immunization strategy, monoclonal antibodies, and tau tangling inhibitors.
Based on the drug type, the treatment for syndromes for dementia and movement disorders market is segmented into drugs used to counter progressive dementia, drugs used to counter movement disorder syndromes, and drugs used to counter progressive dementia with neurological abnormalities. For each of the condition, the market comprises disease centered therapeutics and drug group.
In the treatment for syndromes of dementia and movement disorders market, progressive dementia is expected to grow the fastest in the coming years. Alzheimer’s disease is a type of progressive dementia that was worth US$4,755.2 million in 2014 and is expected to be valued at US$8,208.2 million in 2020, growing at CAGR of 9.5% for the period.
Growing Geriatric Population to Drive Regional Market in North America
By regional segmentation, the global treatment for syndromes of dementia and movement disorders market is segmented into North America, Rest of the World (RoW), Europe, and Asia Pacific. North America dominates the regional market for treatment for syndromes for dementia and movement disorders owing to high incidence of neurodegenerative diseases and growing geriatric population. Asia Pacific is expected to witness high growth of the treatment for syndromes of dementia and movement disorders market in the coming years owing to large aging population base and increasing initiatives for health awareness.
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