According to a new study by Future Market Insights, the vascular dementia therapy market is expected to develop at a rate of over 5% annually, with a projected market size of US$ 5.64 billion in FY 2023. In addition, the market is projected to increase at a compound annual growth rate (CAGR) of 4.77% between 2023 and 2033, reaching an estimated market size of US$ 8.99 billion by FY 2033.
In vascular dementia, these symptoms occur when the brain is damaged because of problems with the blood supply to the brain affecting brain regions important for memory, cognition, and behavior. It declines in thinking skills, caused by conditions that block or reduce blood flow to various brain regions, depriving them of oxygen and nutrients.
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Currently, there is no cure for the condition or a way to reverse the damage already happened. But treatment can help prevent further damage to the brain in people with vascular dementia and may slow down its progression. The progress in the understanding of vascular cognitive impairment (VCI) and vascular dementia (VaD) has resulted in the development of promising symptomatic and preventive treatments.
North America is expected to occupy a major share of the overall dementia drugs market during the forecasted period. This domination is owing to the rising patient population in the region. Moreover, it was also reported that challenges in dealing with dementia in Asia include limited awareness of the disease itself, the existence of stigma, underutilization of services, urbanization, and migration, and credibility of healthcare professionals.
The latest statistics released by the Department of Statistics, in Malaysia have shown that the percentage of the population aged 65 years and over (old age) increased from 6.7% in 2019 to 7.0% in 2020; which shows that the proportion of the older age population in Malaysia has been increasing each year and is leading Malaysia to an aging nation.
Key Takeaways:
- Market share of individual therapies with the current and forecasted 7 million market size from 2019-2032.
- Decline in thinking skills, caused by conditions that block or reduce blood flow to various brain regions, depriving them of oxygen and nutrients.
- Prevention of treatment aims to reduce the symptoms of the disease by eliminating its cause or main risk factors, with prevention in the management of stroke, by early diagnosis and appropriate treatment of acute stroke
- No cure for the condition or a way to reverse the damage already happened. But treatment can help prevent further damage to the brain in people with vascular dementia and may slow down its progression.
- North America is expected to occupy a major share of the overall dementia drugs market during the forecasted period, followed by Asia where Malaysia has shown that the percentage of the population aged 65 years and over (old age) increased from 6.7% in 2019 to 7.0% in 2020.
“With substance abuse becoming an area of major concern, healthcare providers are looking to collaborate with various entities, including governmental bodies, to push for legalization, as well as develop novel treatment drugs, which will provide ample opportunities for companies to develop key drugs,” Remarks an analyst at FMI.
Competitive Landscape
The publisher performs competitive and market Intelligence analysis of the Vascular Dementia (VaD) market by using various competitive intelligence tools that include SWOT analysis, PESTLE analysis, Porter’s five forces, BCG Matrix, Market entry strategies, etc. The inclusion of the analysis entirely depends upon the data availability.
- In April 2022- NovaMedica developed and registered an innovative combination of Donepezil and Memantine molecules, the primary therapies for dementia. The drug is registered under the name MIOREOL. This is one of the combinations in the Russian market and the markets of the Eurasian Economic Union members and Europe.
- In March 2022- Corium, Inc. received United States FDA approval for ADLARITY (donepezil transdermal system) as a treatment for patients with mild, moderate, or severe dementia.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the vascular dementia treatment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
Key Segments :
By Type:
- Pipeline Development Activities
- Reimbursement Scenario in Vascular Dementia (VaD)
- Multi-infarct dementia
- Binswanger disease
- Vascular dementia from a strategic single-infarct
- BAC: Charsire Biotechnology Corp
- PNA1: ProNeurogen Therapeutics
By Treatment:
- Drug class
- Route of administration
- Distribution channel
By End User:
- Hospitals and Clinics
- Rehabilitation Centers
- Others
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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