Lewy Body Dementia Treatment Market Size Worth $5.31 Billion By 2027 | Polaris Market Research

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Dec 22, 2020, 07:30 ET

NEW YORK, Dec. 22, 2020 /PRNewswire/ -- The global lewy body dementia treatment market is projected to reach USD 5.31 billion by 2027 according to a new study conducted by Polaris Market Research the market is anticipated to register a CAGR of 5.1% from 2020 to 2027. An increasingly aging population has gradually resulted in a rise of cases of lewy body dementia, which is one of the primary factors driving the growth of the global market. A higher number of dementia cases in developed countries are creating strong demand for effective drugs and leading manufacturers bringing new products tailored to cure the disease are expected to fuel significant demand for dementia treatment in the global market. An increased government effort to spread awareness regarding the treatment for lewy body dementia and the rising prevalence of brain-related disorders is foreseen to strengthen the market growth.

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Key Findings for Lewy Body Dementia Treatment Market

Based on drug type, the antipsychotic drugs segment has been dominating the global market and is predicted to continue the trend during the forecast period. The dominance of the segments attributed to its cost-effectiveness and minimal side effects during the treatment of the patients.
In terms of distribution channel, the hospital segment is holding a key position in the market with its major revenue share owing to high usage of the drugs in hospital settings and reimbursement policies associated with dementia treatment.
The COVID-19 pandemic has forced healthcare systems to shift the course of medical care more towards COVID-19 patients. It has dramatically impacted patients with chronic conditions such as especially dementia. People suffering from dementia may be at greater risk of contracting COVID-19.
Sumitomo Dainippon Pharma Co., Ltd., a leading pharmaceutical company based in Japan, has signed joint development agreements with Aikomi, Ltd. for the development and commercialization of medical devices to prevent symptoms of dementia.

For instance, in June 2020, The Harry T. Mangurian, Jr. Foundation and Florida Atlantic University's Schmidt College of Medicine have amalgamated its forces to discover and research medicine to prevent dementia. The grant of USD 3 million will allow FAU's Schmidt College of Medicine to establish a new FAU Center for Brain Health. Furthermore, in July 2020, the Journal of the American Medical Association (JAMA) has published that researchers have formed a new p-tau217 blood test, which is proved to hold remarkable results in the diagnosis of Alzheimer's disease and related disorders in the patients.

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Regional Insight & Trend Analysis

North America is forecasted to take the major lead in the global market for lewy body dementia treatment. The rise in the cases of brain-related disorders, availability of improved healthcare facilities, implementation of relevant dementia drug procedures, and favorable reimbursement policies has led to tremendous growth in the region. The presence of a large geriatric population, improving accessibility to dementia treatments, and growing investments in R&D activities are key growth factors for the regional market of Asia Pacific.

Competitive Insight:

Companies are working rigorously to sustain their revenue streams by investing in collaborative research and development practices to grab emerging opportunities in the global market. Manufacturers are diversifying their treatment offering to cater to the changing healthcare patterns and focusing on strategic tie-ups to expand their business. Some of the leading players present in the market include Allergan Plc., Janssen Pharmaceuticals, Inc., Mallinckrodt Pharmaceuticals, GlaxoSmithKline, Noven Pharmaceuticals, Inc., BioArctic AB, Teva Pharmaceuticals, Sanofi AG, Jazz Pharmaceuticals, Inc., Bayer AG, Takeda Pharmaceutical Company Ltd., Mylan NV, and Bausch Health Companies Inc.

Target Audience

Supply Side: Healthcare Companies
Demand Side: Hospitals, Clinics, Research Laboratories, Academic Medical Centers
Regulatory Side: World Health Organization (WHO)
Associations and Industry Bodies: Food and Drug Associate (FDA)

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Polaris Market Research has segmented the Lewy Body Dementia Treatment market report on the basis of drug type, indication, distribution channel, and region

Lewy Body Dementia Treatment Market By Drug Type (Revenue – USD Million, 2016 – 2027)

Modafinil
Cholinesterase Inhibitors
Benzodiazepine
Antipsychotic Drugs
Antidepressants
Carbidopa-Levodopa

Lewy Body Dementia Treatment Market By Indication (Revenue – USD Million, 2016 – 2027)

Parkinson's Disease
Dementia with Lewy Bodies (DLB)

Lewy Body Dementia Treatment Market By Distribution Channel (Revenue – USD Million, 2016 – 2027)

Drug Stores
Hospitals Pharmacies
Online Pharmacies
Retail Pharmacies

Lewy Body Dementia Treatment Market By Regional Outlook (Revenue – USD Million, 2016 – 2027)

North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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