The global frontotemporal dementia management market is poised for substantial growth, with a projected market value of US$ 10 million in 2023, according to a recent market analysis. The study anticipates a robust Compound Annual Growth Rate (CAGR) of 6% from 2023 to 2033, leading to an estimated market value of US$ 17.91 million by the end of the forecast period.
Frontotemporal dementia, a neurodegenerative disorder, predominantly affects individuals aged 65 years and above. Alongside Alzheimer’s and other forms of dementia, it presents a significant healthcare challenge worldwide. Recognizing the urgency of addressing these conditions, various non-profit organizations, including the Association for Frontotemporal Degeneration (AFTD), Alzheimer Discovery Foundation (ADDF), Bluefield Project Organization, Tau Consortium Organization, and CurePSP, Inc., have been actively involved in funding research initiatives.
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These organizations play a pivotal role in advancing clinical trials and preclinical studies aimed at developing innovative therapeutics to mitigate the progression of frontotemporal dementia. By supporting research into interventions that could potentially slow or halt the onset of dementia, they contribute significantly to the advancement of medical science in this field.
The market for frontotemporal dementia management has shown promising growth, with a CAGR of 4% during the historical period from 2018 to 2022. However, with increasing awareness, research funding, and technological advancements, the market is expected to witness accelerated growth in the coming years.
The findings of this study underscore the pressing need for continued investment in research and development efforts aimed at combating frontotemporal dementia and related neurodegenerative disorders. By fostering collaboration between researchers, clinicians, and non-profit organizations, we can strive towards more effective treatments and improved outcomes for individuals affected by these debilitating conditions.
Key Takeaways from the Market Study:
- From 2018 to 2022, the Frontotemporal Dementia Management market grew at a CAGR of 4%.
- The global Frontotemporal Dementia Management market is expected to grow with a 6% CAGR during 2023 to 2033.
- As of 2033, the Frontotemporal Dementia Management Market is expected to reach US$ 17.91 Million
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess 25% market share for the Frontotemporal Dementia Management market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Frontotemporal Dementia Management.” says an FMI analyst
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Market Competition:
Key players in the Frontotemporal Dementia Management market are
- Pfizer Inc.
- Johnson & Johnson
- Sanofi S.A.
- Eli Lilly and Company
- GlaxoSmithKline Plc.
- Novartis AG
- Mylan N.V.
- Merck & Company, Inc.
- AstraZeneca plc.
- Allergen plc
Recent Development:
- In January 2021, LSP, the leading European life sciences investor, and Professor Philip Scheltens, a world-renowned dementia scientist, will launch the LSP Dementia Fund, a fund dedicated to fighting neurodegenerative diseases, in Amsterdam.
- Alzheimer’s Disease International, in collaboration with the Global Coalition on Aging (GCOA) and the Lien Foundation, will launch the third Dementia Innovation Readiness Index in 30 global cities around the world in October 2020.
Key Segments Profiled in the Frontotemporal Dementia Management Industry Survey:
Drug Class Type:
- Antidepressants
- Fluoxetine
- Fluvoxamine
- Sertraline
- Paroxetine
- Citalopram
- Bupropion
- Mirtazapine
- Antipsychotics
- Olanzapine
- Quetiapine
- Ziprasidone
- Aripiprazole
- Risperidone
- Paliperidone
End-Users:
- Hospitals
- Specialty clinics
- Others
Distribution Channel:
- Hospital Pharmacy
- Drug store
- Retail Pharmacy
- Online Pharmacy
- Others
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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