The global dementia care products industry is poised for an extraordinary surge, with projections indicating a remarkable valuation of US$ 56.7 million by 2033, up from US$ 29.1 million in 2023. This substantial expansion is forecasted at a robust Compound Annual Growth Rate (CAGR) of 6.9%, marking a pivotal evolution in disease management and highlighting an intensified commitment to elevating patient care.
Dementia, a widespread condition affecting millions worldwide, necessitates comprehensive and innovative solutions to enhance the quality of life for both patients and caregivers. The projected growth in the dementia care products sector is a testament to the industry’s dedication to addressing the multifaceted needs of individuals grappling with this challenging condition.
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This surge in the industry is not merely indicative of market growth but signifies a broader societal recognition of the importance of supporting those affected by dementia. As the aging population continues to rise globally, the demand for effective dementia care products has become more pronounced than ever.
The industry’s commitment to innovation and the development of groundbreaking solutions is evident in the anticipated CAGR of 6.9%. This signifies not only a quantitative expansion but also a qualitative enhancement in the range and efficacy of dementia care products.
“The projected growth in the dementia care products industry is a reflection of our collective commitment to improving the lives of those affected by dementia. As the prevalence of this condition continues to rise, it is imperative that we invest in cutting-edge solutions that address the diverse needs of patients and their caregivers,” commented Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
The industry’s response to the challenges posed by dementia is not only reflected in product innovation but also in a heightened emphasis on patient-centric care. The evolution of dementia care products goes beyond mere economic indicators, representing a comprehensive approach to enhancing the well-being of individuals facing this complex condition.
As we move towards 2033, the industry anticipates further breakthroughs, partnerships, and collaborations that will drive the development of even more sophisticated and targeted dementia care products. This trajectory aligns with our collective mission to make meaningful contributions to the lives of those impacted by dementia and underscores the industry’s dedication to advancing patient care on a global scale.
Top Highlights from the FMI’s Analysis of the Dementia care products industry:
- North America’s dementia care products industry gained a notable size of 36.7% in 2022. The market growth can be credited to the surging work pressure and stress, which is contributing toward widespread dementia. Besides, neurological diseases like epilepsy, Parkinson’s disease, and stroke are pushing the market growth.
- Europe’s dementia care products industry acquired a market share of 31.3% in 2022. The surging prevalence of Alzheimer’s disease in the region is fueling market growth. The increasing cases of delirium, depression, thyroid problems, overuse of alcohol, and side effects from certain medications are enhancing regional growth.
- China is expanding at a quick pace of 9.2% CAGR from 2023 to 2033, whereas India is expected to register a CAGR of 8.8% over the same period.
- The United Kingdom’s dementia care products industry is projected to display a CAGR of 7.3% from 2023 to 2033.
- Based on product, the memory exercise and activity products segment attained a market share of 28.7% in 2022.
- Under the category of end user, the long-term care centers segment attained a prominent share of 58.7% in 2022.
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FMI Finds out Latest Innovations that are Revolutionizing the World of Dementia Patients:
Else London:
Else London’s device intends to assist people with dementia via daily routine tasks by implanting routines into memory. The product is designed to adapt to each user’s needs and environment by using location-based recognition and sensory cues. Alzheimer’s Society aims to support Else London by enabling access to people living with dementia and their caretakers.
Pobroll:
Pobroll is an entirely waterproofed, superior-quality bed-bathing wrap made to enhance the user’s and caretaker’s bed bath experience. People with dementia face several issues related to bed baths. Some of these issues are low levels of cleanliness, carer stress, etc. Pobroll aims to take care of these issues by keeping the individual warm, dry, and covered throughout the personal washing experience. Alzheimer’s Society is going to support Pobroll to streamline its production process and establish and launch Pobroll to improve its accessibility.
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Key Companies Profiled:
- Parentgiving, Inc.
- EasierLiving, LLC
- Find Memory Care
- Healthcare Products LLC
- Best Alzheimer’s Products
- NRS Healthcare
- Buddi Ltd.
Key Segments Covered in the Dementia Care Products Industry Survey:
By Product Type:
- Memory Exercise & Activity Products
- Daily Reminder Products
- Bathroom Safety Products
- Dining Aids
- Communication Products
- Personal Safety Products
- Other Product Types
By End User:
- Home Care Settings
- Long-term Care Centers
By Region:
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
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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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