Future Outlook of the Lewy Body Dementia Market: Growth, Trends, and Emerging Opportunities Explored
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How has the lewy body dementia market size evolved in recent years?
The market size for Lewy body dementia has seen significant growth in the recent past. Predictions show that it will expand from $1.12 billion in 2024 to $1.21 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. This growth throughout the historic period is accredited to factors such as the growth of the elderly population, heightened awareness surrounding neurodegenerative diseases, a surge in healthcare spending, refinement of diagnostic criteria, and authorities approving dementia-related drugs.
What are the predictions for the lewy body dementia market size in the coming years?
Impressive growth is foreseen in the lewy body dementia market over the upcoming years, with its value projected to reach $1.60 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.2%. This acceleration observed in the forecast period is due to several reasons such as the escalating cases of dementia, increased funding for research and development, a surge in demand for early diagnosis, the growth of telemedicine services, and emphasis on personalized medical care. Considerable trends for the forecast period encompass the advancement of targeted treatments, the broadening of clinical trials, improvements in diagnostic methods, technological enhancements, and focus on new therapeutic approaches.
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What key factors are fueling the growth of the lewy body dementia market?
The escalating incidence of brain-related disorders is predicted to fuel the expansion of the lewy body dementia market in the future. These disorders include conditions that disrupt the brain’s structure and function, leading to cognitive decline, loss of memory and changes in behavior. The incidence of these disorders is on the rise due to factors like aging, heredity and environmental influences. This increased incidence is enhancing the demand for improved treatments and swift detection for lewy body dementia, subsequently driving research, funding, and innovative approaches. This, in turn, accelerates advancements in LBD diagnosis and treatment methods. For example, the World Federation of Neurology reported in October 2023 that over 40% of the global population is suffering from neurological conditions, as per the UK-based association of national neurological societies. It is projected that this burden will nearly double by 2050. Hence, the increased incidence of brain-related disorders will be a significant driver for the growth of the lewy body dementia market.
How is the global lewy body dementia market divided into key segments?
The lewy body dementia market covered in this report is segmented –
1) By Diagnosis: Clinical Diagnosis, Biomarker-Based Diagnosis
2) By Medication: Cholinesterase Inhibitors, Antipsychotics, Antidepressants, Other Medications
3) By End-User: Hospitals, Specialty Clinics, Long-Term Care Facilities, Other End-Users
Subsegments:
1) By Clinical Diagnosis: Neuropsychological Testing, Neurological Examination, Medical History Review, Cognitive Function Assessment
2) By Biomarker-Based Diagnosis: Cerebrospinal Fluid (CSF) Biomarkers, Imaging Biomarkers (PET, MRI), Genetic Biomarkers, Blood-Based Biomarkers
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Who are the key firms paving the way for growth in the lewy body dementia market?
Major companies operating in the lewy body dementia market are Eli Lilly and Company, Mayo Foundation for Medical Education and Research, Eisai Co. Ltd., Sumitomo Dainippon Pharma Co. Ltd., Georgetown University Medical Center, Alzheimer’s Society, BioArctic AB, Annovis Bio Inc., Sun Pharma Advanced Research Company Limited, Voyager Therapeutics Inc., Cognition Therapeutics, Athira Pharma, Allergan plc, Inhibikase Therapeutics, CuraSen Therapeutics Inc., CervoMed Inc., AC Immune SA, ProMIS Neurosciences Inc., Aptinyx Inc., EIP Pharma Inc.
What are the key trends shaping the future of the lewy body dementia market?
Major players in the lewy body dementia market are turning their attention to research investment for the creation of more potent remedies for neurodegenerative conditions. The process of research investment combines financial commitment, labor, and duration towards scientific and technology-based studies to unearth fresh knowledge, create innovative methods, or advance existing techniques. This process aids in investigating diseases and developing new drugs, all aiming to enhance the health results of patients. For instance, in March 2023, a US government agency, the National Institute on Aging, granted $21 million as part of the support for drug evolution research for Lewy Body Dementia (LBD). With the beginning of a Phase 2b study of neflamapimod, researchers at the University of Miami Miller School of Medicine are exhibiting promising initial findings.
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What regions are contributing significantly to the growth of the lewy body dementia market?
North America was the largest region in the lewy body dementia market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lewy body dementia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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