The Vascular Dementia Market is Anticipated to Witness High Growth Owing to Rising Prevalence of Cardiovascular Diseases
Vascular dementia, also known as multi-infarct dementia or post-stroke dementia, refers to a decline in thinking skills caused by conditions that block or reduce blood flow to the brain, such as stroke or mini-strokes. The signs and symptoms may include problems with thinking skills, planning, organizing tasks, memory, and language skills. Vascular dementia develops stepwise as small strokes or mini-strokes progressively destroy brain tissue. These small strokes cut off blood supply to small parts of the brain, damaging or killing brain cells.
The global Vascular Dementia Market is estimated to be valued at US$ 130 Billion in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024-2032.
Key Takeaways
Key players operating in the vascular dementia market are Pfizer Inc., Johnson & Johnson, Takeda Pharmaceutical Company Ltd., Eisai Co. Ltd., AstraZeneca, and Lundbeck.
The key opportunities in the market include development of new drug candidates with novel mechanisms of action and growing research funding from government and private bodies. Furthermore, emerging economies present lucrative growth opportunities owing to rising healthcare expenditure and large patient pool.
The key players are focusing on global expansion by adopting strategies such as mergers & acquisitions and partnerships with local market players. For instance, in 2022, Eisai and Biogen announced their partnership to jointly develop and commercialize lecanemab (BAN2401), an investigational anti-amyloid beta (Aβ) protofibril antibody for the treatment of mild cognitive impairment (MCI) due to Alzheimer's disease (AD) and mild AD (collectively known as early AD) with confirmed presence of amyloid pathology in the brain.
Market Drivers
Growing geriatric population: The rising geriatric population is a major driver, as vascular dementia is more common in the elderly. Age is the strongest risk factor for vascular dementia.
Advancements in diagnostic methods: Development of advanced diagnostic methods such as neuroimaging techniques and neuropsychological assessments has enabled early and accurate diagnosis of vascular dementia, thereby driving the market growth.
Market Restrains
Stringent regulatory environment: Development and approval of new drugs for vascular dementia requires extensive clinical trials owing to safety concerns. This acts as a hurdle for pharmaceutical companies and restrains market growth.
Lack of effective treatment options: There is no cure for vascular dementia and available treatment options only manage symptoms temporarily. This discourages the adoption of available drugs and hampers the market progress.
Segment Analysis
The vascular dementia market is segmented into mild, moderate, and severe vascular dementia. Moderate vascular dementia is the dominating sub segment currently as it accounts for over 50% of the total cases. In moderate dementia, patients experience significant difficulties with daily activities and require help from caretakers. As the condition progresses, patients in this segment will start requiring more assistance.
Global Analysis
North America is currently the fastest growing and dominating region in the global vascular dementia market. This is mainly due to aging population and high prevalence of conditions leading to vascular dementia like diabetes, hypertension and obesity in the region. According to recent studies, over 30% of the dementia cases in U.S. are caused by vascular issues. Europe is another major regional market supported by availability of developed healthcare infrastructure and awareness levels regarding dementia. However, Asia Pacific region is expected to show highest growth in the coming years due to improving healthcare standards and rising spending capability in emerging countries like China and India.
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What Are The Key Data Covered In This Vascular Dementia Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Vascular Dementia 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Vascular Dementia and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Vascular Dementia Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Vascular Dementia vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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