Dementia Drugs Market Report and Forecast 2024-2032

Dementia Drugs Market Outlook

The dementia drugs market size in the 7 major markets was valued at USD 16.6 billion in 2023, driven by the increasing prevalence of dementia. The market is expected to grow at a CAGR of 8.2% during the forecast period of 2024-2032, with the values likely to rise from USD 17.9 billion in 2024 to USD 33.8 billion by 2032.

Dementia Drugs Market Overview

Dementia drugs are used to treat symptoms of dementia by increasing the levels of acetylcholine, a neurotransmitter involved in learning and memory. They aim at improving the quality of the patient’s life for individuals affected by the disease.

Alzheimer’s dementia affects approximately 6.7 million Americans  aged 65 years or older. The number is expected to reach around 13.8 million by 2060. The generation lying between an age span of 65 to 74 years is at the highest risk of developing Alzheimer’s dementia. Women are more vulnerable to develop dementia and account for two-third of the cases. The prevalence of Alzheimer dementia is expected to witness a surge in low- and middle-income countries by 68%. As a result, the dementia drugs market demand is projected to experience a significant rise in coming years.

Growth in FDA Approvals

With a better understanding of the disease pathophysiology, the scientists have made notable breakthroughs by offering new and improved categories of dementia drugs. There is ongoing research on dementia drugs that primarily focuses on addressing the complex nature of the disease. In January 2023, the U.S. Food and Drug Administration approved Eisai’s Leqembi  (lecanemab-irmb) for treating Alzheimer’s disease by reducing amyloid beta plaque, a notable marker of the disease. The results were based on the results of a Phase 3 trial that confirmed the clinical benefits of the drug.

The dementia drugs market growth is further aided with rising research activities, conducted by prominent healthcare companies. In May 2023, Eli Lilly revealed that their latest Alzheimer drug Donanemab  helped in slowing the disease progression by 35% along with a slowed decline over 18 months. The results were announced as per the TRAILBLAZER ALZ 2 Phase 3 study. The reduced progression may be considered as a major help to improve patient longevity.

Surge in Investment in Aid Enhanced Research

The rising investments in research and development activities is a major factor for boosting the dementia drugs market value. In November 2023, PREDICTOM  secured a USD 26.7 million investment to develop an artificial intelligence screening platform that identifies the risk of dementia development in patients, even before the onset of symptoms. The company aims to reduce the strain of healthcare services and related expenditure with the help of digital biomarkers.

In November 2023, the Alzheimer’s Associations  made a USD 100 million investment for drug development research activities. The investment spans across 53 countries and 6 continents and contains approximately 1000 active research projects, aimed at developing improved therapeutic drugs. Such initiatives are expected to foster market growth as well.

Dementia Drugs Market Segmentation

Market Breakup by Indication Type

• Lewy Body Dementia

• Parkinson’s Disease Dementia

• Alzheimer’s Disease

• Vascular Dementia

• Other Indications

Market Breakup by Treatment
 

• Cholinesterase Inhibitors

• NMDA Antagonists and its Combination Drugs

• Others

Market Breakup by Dosage

• Injection

• Tablets

• Others

Market Breakup by Route of Administration

• Oral

• Parenteral

• Others

Market Breakup by Distribution Channel

• Hospital Pharmacy

• Retail Pharmacy

Market Breakup by Region

• United States

• EU-4 and the United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom

• Japan

Dementia Drugs Market Regional Analysis

The United States is a major market for dementia drugs as the region has a high disease prevalence. The presence of key pharmaceutical players along with notable research centers play a critical role in boosting the dementia drugs market growth in the region.

Europe is a leading market with a high emphasis on providing relevant information on diagnosing early signs of the disease to facilitate better treatment options. Having a robust healthcare infrastructure that integrates all the latest technologies in the drug development process is another major contributor to the market value. In October 2023, AstronauTx , a biotechnology company received a USD 61 million investment to develop new treatment for Alzheimer’s disease. The company is currently in collaboration with UK UCL Drug Discovery Institute (UCL DDI) to develop medications that resets astrocyte behavior (important support cells in the brain).

In the forecast period, the Asia Pacific region is expected to witness a notable boost in the dementia drugs market share. This can be attributed to growing investments to improve the healthcare and research framework pertaining to the region.

Dementia Drugs Market: Competitor Landscape

In December 2023, Bristol Myers Squibb  acquired Karuna Therapeutics with a USD 12.7 billion deal. Karuna Therapeutics’ KarXT is a potential first in class treatment for Alzheimer’s disease psychosis. The deal aligns with Bristol Myers Squibb’s vision to expand their neuroscience portfolio and provide effective solutions by developing and commercialising medicines on a global scale and help patients battling with fatal neural diseases.

The key features of the dementia drugs market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Abbvie Inc

• Apotex inc.

• Eisai

• Aurobindo Pharma Ltd

• Novartis AG

• F. Hoffmann-La Roche AG

• Eli Lilly and Company

• Johnson & Johnson

• Teva Pharmaceutical Industries

• Biogen

• Annovis Bio

• Merck & Co.

• GlaxoSmithKline PLC

• Athira Pharma

• AstraZeneca

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report